Page 12 - Gdp

The Great Indian Inequality Debate: Is India's income inequality declining?

With the latest HCES showing a fall in Gini coefficient between FY12 and FY23, has India been able to reduce the income inequality?

Govt may finalise base year revision for CPI, IIP, GDP by end of 2024

The ministry is currently undertaking a market survey, a requirement to update the base year for CPI, as it is used to update the CPI basket

India to remain fastest growing Asia-Pacific economy, says Moody's

The report also noted that India, Indonesia, and the Philippines were the key growth outperformers in the first half of the year 2024

NITI Aayog proposes tax exemption to boost state universities R&D

Concerns include lack of an incentive system for faculties to pursue research, the dominance of R&D from central universities rather than private and state institutions, and funding constraints

Tax origin not suitable measure for budgetary devolution to states: Study

Amongst the major states, an increase in the share of tax devolution over this period was observed in Chhattisgarh, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, and West Bengal

Strong economic base to help new govt make India a developed nation by 2047

India's world record beating economic growth rate together with robust tax revenues, a fast expanding digital and financial infrastructure and a strong manufacturing sector will give the new government a base for unleashing next generation reforms that may make the country a developed nation by 2047. The new government will however have to tackle with problems like unemployment and rural distress, which seemed to have played a major role in voting pattern in states like Uttar Pradesh, while also keeping inflation under control. Given that no party, including BJP, have a clear majority of its own, tough reforms like big ticket privatisation and labour law reforms may take a backseat. As per the available trends, BJP is likely to win about 240 seats in a 543- member Lok Sabha. It would have to rely on its allies like TDP and JDU to form the next government. The new government will have to build upon the 8.2 per cent GDP growth recorded in 2023-24 and carry on with the reforms to make

Using GST as consumption proxy

Unlike private consumption data, GST can provide real-time insights into consumption patterns, economic activity, and state-wise variations

Sensex to GDP: How India looked when a party won 400 seats the last time

If the BJP secures over 400 seats in the Lok Sabha, it will be the second party to do so after Congress, which won 414 seats in 1984 after the assassination of Prime Minister Indira Gandhi

Moody's projects 6.8% GDP expansion in 2024 on strong economic growth

Moody's Ratings on Friday projected India to grow 6.8 per cent in the current year, followed by 6.5 per cent in 2025, on the back of strong, economic expansion, along with post-election policy continuity. India's real GDP grew 7.7 per cent in 2023, up from 6.5 per cent in 2022, driven by robust capital spending by the government and strong manufacturing activity. High-frequency indicators, including robust goods and services tax collections, rising auto sales, consumer optimism and expanding manufacturing and services PMIs, have signalled sustained economic momentum in March and June quarter this year. "We believe the Indian economy should comfortably register 6-7 per cent annual real GDP growth and we forecast around 6.8 per cent growth," Moody's said in its update to Global Macro Outlook 2024-25. It said strong, broad-based growth will likely be sustained with post-election policy continuity. Moody's said this year's interim Budget targets capital expenditure allocation of Rs 1

Highlights: India's FY24 fiscal deficit lower than full-year target, shows data

India GDP data release updates: Catch all the news updates on the release of India's Q4 GDP data here

This is just a trailer of things to come, says PM Modi on GDP figures

Lauding the high GDP growth in 2023-24, Prime Minister Narendra Modi on Friday said it underlines robust momentum in the economy which is poised to accelerate further. "As I've said, this is just a trailer of things to come," he said on X. India's economy clicked growth of 7.8 per cent in the January-March quarter, pushing the annual growth rate for FY24 to 8.2 per cent, mainly on account of good showing by manufacturing, official data showed on Friday. Modi said, "The Q4 GDP growth data for 2023-24 shows robust momentum in our economy which is poised to further accelerate. Thanks to the hardworking people of our country, 8.2% growth for the year 2023-24 exemplifies that India continues to be the fastest growing major economy globally.

FY24 GDP growth of 8.2% is great news for India: Arvind Panagariya

The 16th Finance Commission chairman Arvind Panagariya on Friday said GDP growth at 8.2 per cent for 2023-24 is a "great news for India". "As predicted, the GDP growth rate for 2023-24 crossed the 8% mark and lands at a comfortable 8.2%. Great news for India!!," Panagariya said in a post on X. According to the National Statistical Office (NSO) data released on Friday, India's economy grew at a four-quarter low of 7.8 per cent in the March quarter. The economy grew 8.2 per cent in the June quarter, 8.1 per cent in the September quarter, and 8.6 per cent in the December quarter. The GDP expanded at 8.2 per cent in 2023-24 fiscal, higher than 7 per cent recorded in 2022-23. ICRA Chief Economist Aditi Nayar said the sequential slowdown in GDP growth was driven by investment activity, even as private consumption maintained a bland 4 per cent rise and government consumption expenditure turned around to a mild growth from a contraction. "With transient factors likely to dampen growth in

Growth momentum will continue in third term of Modi govt: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday termed 8.2 per cent GDP growth in 2023-24 as 'remarkable' and said the growth momentum will continue in the "third term of the Modi Government". Today's GDP data showcases robust economic growth with a growth rate of 8.2 per cent for FY 2023-24 and 7.8 per cent for the fourth or March quarter of FY 2023-24. "This remarkable GDP growth rate is the highest among the major economies of the world," Sitharaman said in a post on X. She said the manufacturing sector witnessed a significant growth of 9.9 per cent in 2023-24, highlighting the success of the Modi government's efforts for the sector. Many high-frequency indicators indicate that the Indian economy continues to remain resilient and buoyant despite global challenges, she added. "India's growth momentum will continue in the third term of PM Shri @narendramodi-led government," she said. The last phase of Lok Sabha elections will be held on Saturday while the results will be announced

India's GDP growth rate jumps to 7.8% in Q4; FY24 growth at 8.2%

In the previous quarter, GDP growth rate accelerated to 8.4%, it was 7.6% in the July-September quarter

India Q4 GDP numbers today: Will the actual data match the predictions?

India's GDP growth rate accelerated to 8.4% in Q3FY24; FY24 growth estimate at 7.6%

India's GDP growth in Q4 likely slowed to at least a four-quarter low

NSO to release Q4 growth numbers, FY24 provisional estimates on Friday

Tourism's share in global GDP to return to pre-Covid levels this year: WEF

India soars to 39th, sole South Asian nation in top 50: WEF

One degree temperature rise could slash global GDP by 12%, warns new study

The study said that the new estimates are higher than previous ones due to the use of new datasets that more accurately reflect changes in global mean temperatures

Pakistan's GDP grows 2.09% in Q3 supported by higher growth in agriculture

The bureau revised the first and second quarter GDP estimates for financial year 2023-2024 to 2.71 per cent and 1.79 per cent respectively, compared to earlier estimates of 2.5 per cent and 1 per cent

India's digital economy is growing 2.8x of GDP: Rajeev Chandrasekhar

'We are already the fastest-growing digital economy in the world, and for me, it is clear that we are aiming for a $1 trillion digital economy by 2027-28', he further added