Page 19 - Gdp Growth

India's GDP growth likely to moderate to 6.5% in FY25: India Ratings

On the consumption side, India Ratings expects private final consumption expenditure to grow by 6.1 per cent in FY25, up from 4.4 per cent in FY24

DPIs have potential to boost India's GDP growth 3x by 2030: Nasscom study

Digital Public Infrastructure (DPIs) is a set of common platforms or networks that is used to deliver citizen-centric services

GDP growth to moderate sequentially to 6% in Q3 FY2024, projects ICRA

Rating agency ICRA on Wednesday projected GDP growth to moderate sequentially to 6 per cent in the third quarter of FY24 from 7.6 per cent in the preceding three months mainly due to subdued performance of agriculture and industrial sectors. Further, it said the GVA (Gross Value Added) growth is estimated to ease to 6 per cent in the October-December quarter FY24 from 7.4 per cent in the second quarter of the last fiscal. The anticipated deterioration in the industrial sector growth in the third quarter is partly attributable to an adverse base effect and a deceleration in volume expansion, even as the continued deflation in commodity prices kept the profitability of some sectors favourable. Additionally, a mild 0.2 per cent contraction in the total spending of the government of India and the 25 state governments (all states except Arunachal Pradesh, Goa, and Manipur) in the October-December period is expected to have dulled the GVA growth in the quarter. "Lower volume growth for t

Govt debt to GDP may fall in contrast to global trend: RBI report

Dismisses IMF's contention of ratio exceeding 100%

16th FC chairman Panagariya warns against pitfalls of import substitution

On why countries with low per-capita incomes, such as India, must focus on exports, Panagariya explained how the global export market was worth $32 trillion in 2022, almost ten times India's GDP

Legal guarantee for MSP will make farmers drivers of GDP growth: Rahul

Legal guarantee for MSP will not make Indian farmers a burden on the budget but ensure that they become drivers of GDP growth, Congress leader Rahul Gandhi said on Tuesday as he claimed that "lies" are being spread that the MSP guarantee is not feasible under the government's budget. In a post in Hindi on X, Gandhi claimed that ever since the Congress resolved to provide legal guarantee for Minimum Support Price (MSP), "Modi's propaganda machinery and media friendly to him have spread a barrage of lies on MSP". "Lie -- It is not feasible to provide legal guarantee for MSP in the budget of the government of India. Fact -- According to CRISIL, giving MSP to farmers in 2022-23 would have resulted in an additional burden of Rs 21,000 crore on the government, which is only 0.4 per cent of the total budget," Gandhi said in his post. In a country where bank loans worth Rs 14 lakh crore have been waived and corporate tax exemption of Rs 1.8 lakh crore given, why is even a little expenditure

Growth sans 'big bang' reforms

India's economic resilience shows incremental reforms are more effective

Confident on global economic outlook despite uncertainties: IMF's Georgieva

'While uncertainties are still high, we can be a bit more confident about the economic outlook, because the global economy has been surprisingly resilient,' she said in the speech

Updating India's rituals

Particularly economic ones

RBI MPC: Repo rate kept at 6.5%; Q4FY24 inflation forecast lowered to 5%

RBI policy meet: The RBI MPC has also decided to keep its stance of 'withdrawal of accommodation' unchanged

Growth rate of about 7% next year eminently doable, says DEA secretary

Economic Affairs Secretary Ajay Seth on Friday said Budget proposals are non-inflationary and will help achieve 7 per cent-plus growth rate for the fourth year in a row in 2024-25. Although there are external risks arising from geo-political tensions, "the growth rate of about 7 per cent next year is eminently doable," Seth told PTI in a post-Budget interview with PTI. Having contracted 5.8 per cent in 2020-21, the Indian economy recorded a growth rate of 9.1 per cent in the following year. The Gross Domestic Product (GDP) growth rate was 7.2 per cent in 2022-23 and is estimated to inch up marginally to 7.3 per cent in the current financial year. The interim Budget 2024-25 projected a nominal GDP growth 10.5 per cent against the 11 per cent for the current fiscal. The nominal GDP for BE 2024-25 has been projected at Rs 3,27,71,808 crore, assuming 10.5 per cent growth over the estimated nominal GDP of Rs 2,96,57,745 crore, as per the First Advance Estimates of FY24. "The estimates,

Budget reinforces the vision of a confident, consistent and credible India

The government has exuded confidence that despite an election year, it has stayed committed to enhancing the quality of its spending

Deficit reduction will stabilise debt-to-GDP ratio over medium term: Fitch

Fitch Ratings on Friday said the slightly faster pace of fiscal deficit reduction does not significantly change India's sovereign credit profile but the government's emphasis on deficit reduction will help to stabilise the debt-to-GDP ratio over the medium term. In a post budget commentary, Fitch Ratings Director, Sovereign Ratings, Jeremy Zook said over the next five years, India's government debt-to-GDP ratio would be broadly stable at just above 80 per cent of GDP. This is based on a continued path of gradual deficit reduction, as well as robust nominal growth of around 10.5 per cent of GDP. In the interim Budget 2024-25, presented in Parliament on Thursday, the government revised lower its current year fiscal deficit to 5.8 per cent from 5.9 per cent budgeted earlier. The deficit, which is the gap between the government's revenue and expenditure, will come down to 5.1 per cent in 2024-25 and further to 4.5 per cent by 2025-26. Fitch said this demonstrates a firm desire to adher

Interim Budget: 'Fiscally prudent, growth-promoting pronouncement'

The underlying nominal GDP growth assumption of 10.5 per cent for the Budget and tax collection estimates are realistic

Expect no drama in the Budget

But over the medium term, India's fiscal health needs attention

TN economy to be worth $2.6 trn by FY48, needs $111 bn investment: Study

State must focus on industries and urbanisation to meet potential, it says

Getting to grips with logistics cost

As India focuses on reducing the cost, it is important to get the numbers right

Fiscal policy reset

Faster consolidation will require expenditure adjustments

GDP growth will moderate to below 6% in December quarter: ICRA projection

Rating agency ICRA has projected the GDP growth rate to slow down to below 6 per cent in the December quarter, mainly account of sharp fall in kharif crop output, and weak progress in rabi sowing for some crops. india had registered a Gross Domestic Product (GDP) growth rate of 7.6 per cent in the July to September period. The rating agency said the year-on-year growth in ICRA Business Activity Monitor eased for the second consecutive month to a six-month low of 8.1 per cent in December 2023 -- as against 7.9 per cent in December 2022 and 9.6 per cent in November 2023. "This can be attributed to a combination of factors, including easing in momentum of activity after the end of the festive period, tapering of demand for electricity and petrol with the onset of the winter season in North India, as well as unfavourable base effects for some indicators," it said. Despite a moderation in year-on-year growth, the index witnessed a sequential uptick of 1.4 per cent in December 2023, driv

GDP growth in most countries neither sustainable, nor inclusive: WEF study

Most economies are growing in ways that are neither sustainable nor inclusive and are limited in their ability to absorb or generate innovation and minimise their contribution and susceptibility to global shocks, a new report said on Wednesday. The Future of Growth Report released here by the World Economic Forum Annual Meeting 2024 called for a new approach to economic growth that balances efficiency with long-term sustainability and equity, examining speed and quality together. High-income economies score high on innovation and inclusion, while lower-income economies on sustainability, said the report that took a holistic look at GDP alongside the quality of growth across 107 economies. Among the lower middle income economies, India and Kenya scored high on sustainability, Jordan on innovativeness; Vietnam on inclusiveness; and the Philippines on resilience. Common challenges preventing a stronger balanced growth performance of this group included technology absorption, lack of .