Page 10 - Gdp

India's June qtr GDP growth likely slowed on reduced government spending

Despite strong growth relative to other economies, India is lagging on job creation and more inclusive economic growth

BS@50: How money has moved between Centre and states in the past 5 decades

Annual government spending has shot up. Fiscal deficit concerns remain. Between the Centre and states, sometimes one has scored over the other. An overview of government finances since 1975

GDP growth rate likely to decline to 7.1% in Q1, say SBI economists

Economists at the country's largest lender SBI on Monday joined other watchers forecasting a slip in the economic growth and estimated India's real GDP growth to come at 7.1 per cent for the June quarter. The economists said the growth in gross value added (GVA) will fall below 7 per cent to 6.7-6.8 per cent for the April-June period this fiscal when compared to the year-ago period. "As per our 'Nowcasting Model', the forecasted GDP growth for Q1 FY25 would be 7.0-7.1 per cent, and GVA is at 6.7-6.8 per cent with a downward bias," the economists said. It can be noted that the real GDP growth had come at 7.8 per cent in the June quarter last year and the preceding March quarter. A slew of analysts have been pointing to a moderation in economic activity in the June quarter, mainly driven by softer manufacturing and lower government spending due to the general elections. The report also said that given the uncertain global growth outlook and the softening inflation, there is a space f

Statsguru: India's GDP growth likely to ease; demand remains weak

There is a wide difference between the gross domestic product (GDP) and gross value added (GVA) growth rates

Goldman Sachs Group cuts India's 2024 and 2025 GDP growth forecasts

The bank now expects the nation's economy to expand at 6.7% in calendar 2024, and 6.4% in 2025.

NITI Aayog report sets target of doubling Mumbai's GDP in five years

A report prepared by the NITI Aayog on the development of the Mumbai Metropolitan Region (MMR) aims to double the region's Gross Domestic Product (GDP) in the next five years, and make Mumbai and its satellite towns a global economic hub. At present the region's GDP is Rs 12 lakh crore (USD 140 billion) and it should reach Rs 26 lakh crore (USD 300 billion) by 2030, the report submitted to Chief Minister Eknath Shinde by NITI Aayog CEO BVR Subrahmanyam said. While there are one crore employment opportunities in the MMR at present, there is a need to create 30 lakh more opportunities, the report said. Chief minister Shinde said infrastructure and communication facilities are the foundation for the state's development, and work was underway in that direction. The report said the Maharashtra government needed to focus on seven sectors: Developing Mumbai into a global services hub, facilitating affordable housing, transforming MMR into global tourism centre, integrated development of .

Israeli GDP grows at 1.2% in April-June period as Gaza war rages on

First-quarter GDP was revised to 17.3% annualised from a prior estimate of 14.4%, bouncing back from a contraction of 20.6% in the fourth quarter of 2023

India's holding of American securities hits high of $241.9 bn in June

India's holding of US government securities touched a high of USD 241.9 billion in June as the country continued to increase its exposure for the third straight month. Japan was the top holder with securities worth over USD 1.11 trillion followed by China at the second spot with a holding valued at USD 780.2 billion in June, according to the latest data released by the US Treasury Department. At the third place was the United Kingdom with an exposure of USD 741.5 billion ahead of Luxembourg at the fourth position with a holding to the tune of USD 384.2 billion. Among the countries and jurisdictions, India was at the 12th place owning American government securities worth USD 241.9 billion in June, higher than USD 237.8 billion value recorded in May. As per the data, India's holding is the highest in the last one year and it was at USD 237.8 billion in May 2024. In April this year, it touched USD 233.5 billion declining from USD 240.6 billion in March. In June last year, the exposur

Ambani family's wealth 10% of India GDP: Barclays-Hurun India report

Adani family, the most valued first-generation family business valued at Rs 15.45 trillion

GenAI adoption to add extra $675 bn to India's economy by 2038: Accenture

The research also revealed around 31% of working hours in India will be automated

Growth challenges

Global prospects have worsened in recent years

Govt committed to fairness, simplicity, equity in tax system: Revenue secy

Revenue Secretary Sanjay Malhotra on Saturday said the government remains committed to fairness, simplicity and equity in the tax system. He said the government's ongoing efforts are to simplify tax laws, improve tax compliance, and support economic growth through prudent fiscal policies and the Union budget was in that direction. Union Finance Minister Nirmala Sitharaman had said a comprehensive review would be done on direct taxes over the next six months aiming at making direct taxes simpler to reduce disputes. "Tax growth had reached 14 per cent, outpacing GDP growth due to better compliance and collection efficiency," Malhotra said in a post-budget interactive session with stakeholders. He commended both tax administrators and taxpayers for their efforts and asked for continued cooperation to further enhance tax compliance and administration. Malhotra assured taxpayers that the government aims to simplify and make it easier to understand and make the process as hassle-free as

India's family-owned biz projected to drive 85% of GDP by 2047: McKinsey

From 2017 to 2022, FOBs outperformed non-family-owned businesses, reporting approximately 2.3% higher revenue growth

Budget 2024 is an economists' Budget, says Citigroup MD Samiran Chakraborty

Focus of Budget 2024 is not restricted to railways, defence and infra, but expands to manufacturing and employment to aid human capital growth, said Citigroup MD at 'Budget with BS: The Fine Print'

Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand

India Ratings & Research (Ind-Ra) on Wednesday upped India's GDP growth forecast for the current fiscal to 7.5 per cent from 7.1 per cent projected earlier on expectation of improved consumption demand. It said The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from the union government budget. The budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy. "Ind-Ra believes these measures would help in broad basing the consumption demand," the rating agency said while revising up its GDP growth estimate for FY25 to 7.5 per cent. Ind-Ra's growth projection is higher than that of RBI which projected FY25 growth at 7.2 per cent and Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a

Climate adaptation

India must invest in agricultural research

Government estimates its total debt to increase to Rs 185 trn in FY25

The government estimates its debt, including external borrowing, valued at current exchange rate and public account and other liabilities will increase to Rs 185 lakh crore, or 56.8 per cent of the GDP, during the current fiscal year. The total debt stood at Rs 171.78 lakh crore, or 58.2 per cent of the gross domestic product (GDP), at the end of March 2024, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha on Monday. As per the International Monetary Fund, World Economic Outlook, April 2024, India's Gross Domestic Product at current prices has already reached USD 3.57 trillion in 2023-24, he said. Replying to another question, Chaudhary said the growth rate of the private final consumption expenditure (PFCE) at constant prices in 2022-23 and 2023-24 is 6.8 per cent and 4 per cent, respectively, he said, quoting provisional GDP estimates for 2023-24 released by the National Statistical Office. The growth rate of PFCE at current prices in 2022-2

Throwing the baby out with the bathwater

Policy on derivatives needs to be informed by the evolution of these markets in India and the benefits of risk management

BJP CMs' Council meet: PM discusses efforts to make India $5 trn economy

PM Modi, in the two-day meeting of the BJP Chief Ministers' Council that concluded on Sunday, said that the conservation of heritage and building a legacy of development

PM Modi urges states to attract FDI, suggests 'investor-friendly charter'

Investor friendly charter, zero poverty and demographic management plans highlights of NITI Aayog meet