Page 17 - Latest Updates on New GDP series

Israel's economy takes deep dive in Q4 with 19.4% GDP drop amid Gaza war

"The contraction of the economy in the fourth quarter of 2023 was directly affected by the outbreak of the Iron Swords War on October 7," the statistic bureau said

In an election year, markets typically flourish, says Arbind Maheswari

Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth, he said

Downside risks to growth persist

The odds of soft-landing have increased with inflation moving closer to the target and growth holding up better than expected in major advanced and emerging market economies

We are more federal than UPA, says NDA government's White Paper

The transfer of these resources to states constituted 3.36 per cent of gross domestic product (GDP) during UPA rule against 4.24 per cent during NDA rule so far

OECD marginally raises India's GDP growth forecast to 6.2% for FY25

For FY26, OECD has kept its growth forecast for India unchanged at 6.5 per cent

Various measures taken to reduce debt burden, strengthen economy: FM

To bring down the debt burden, the government has taken various measures like increasing the tax revenue buoyancy, enhancing the public expenditure effectiveness, commitment to reducing fiscal deficit and augmenting the productive efficiency, Finance Minister Nirmala Sitharaman said on Monday. In addition to strengthening the financial system, the government has more than doubled its effective capital expenditure from Rs 6.57 lakh crore in 2020-21 to Rs 13.71 lakh crore and Rs 14.97 lakh crore in 2023-24 (BE) and 2024-25 (BE), respectively, to crowd in private investments, she said in the Lok Sabha. The government's emphasis on increasing capital expenditure will not only boost the investments, but also return a higher GDP growth to lower the debt burden, she said. Simultaneously, she said, the state governments have been incentivised to increase their capital spending through measures like 50-year interest-free capex loans and front-loading of tax devolution instalments. Various .

We're on course to reaching inflation target of 4% in FY25: CEA Nageswaran

Our potential growth rate is somewhere between 6.5 and 6.8 per cent and it is not 6 per cent as the international agencies used to estimate, he says

Tax buoyancy cannot continue year after year, says DEA secy Ajay Seth

Economic Affairs Secretary Ajay Seth spoke on the government's thinking behind the major budget projections and the fiscal math

Interim Budget 2024-25: Strong foundation towards 'Viksit Bharat'

The cornerstone of this Budget is a commitment to foster global competitiveness among Indian enterprises, attract foreign investments, and bolster startups and innovation-driven ecosystems

Budget focused on economic resilience, creates opportunities for all

It carefully allocates public resources and commits to reduce the country's fiscal debt

Interim Budget 2024-2025: From Amrit Kaal to Kartavya Kaal

In the ongoing phase of transformation health care stands as a foundational element

Increase spending to 2.5% of GDP to improve quality of healthcare: Experts

Dr. Trehan also said that the schemes started by the Government of India, like Ayushman Bharat, are life saviours for people

Direct tax to GDP ratio in FY24 likely to be the highest since FY01

Tax buoyancy measures change in tax growth as a result of GDP expansion. Buoyancy at more than one means the GDP growth rate has led to a higher increase in tax receipts

Use of tech a common thread in reforms undertaken in 9 yrs: Economy review

The report states that a common thread through all the reforms undertaken during the last nine years has been the use of technology and digital platforms

India to become 3rd largest economy with GDP of $5 trn in 3 yrs: FinMin

India is expected to become the third-largest economy in the world with a GDP of USD 5 trillion in the next three years and touch USD 7 trillion by 2030 on the back of continued reforms, the finance ministry said on Monday. Ten years ago, India was the 10th largest economy in the world, with a GDP of USD 1.9 trillion at current market prices. Today, it is the 5th largest with a GDP of USD 3.7 trillion (estimate FY24), despite the pandemic and despite inheriting an economy with macro imbalances and a broken financial sector, said the ministry's January 2024 review of the economy. "This ten-year journey is marked by several reforms, both substantive and incremental, which have significantly contributed to the country's economic progress," it said. These reforms, it added, have also delivered an economic resilience that the country will need to deal with unanticipated global shocks in the future. The ministry said that in the next three years, India is expected to become the ...

US GDP expands 3.3% in Dec quarter, capping unexpectedly strong year

Gross domestic product increased at a 3.3% annualized rate, according to the government's preliminary estimate out Thursday. For all of 2023, the economy expanded 2.5%

German business morale unexpectedly worsened in January, GDP contracts 0.3%

"The tentative revival of optimism last autumn has turned out to be very short-lived," said ING economist Carsten Brzeski, forecasting another shallow recession this year of -0.3%

Govt to keep 2024-25 gross borrowings close to current year's level: Report

India may peg its gross market borrowing for next fiscal year at between 15 trillion rupees ($180.47 billion) and 15.5 trillion rupees

Red Sea disruptions likely to dent India's growth forecast, says Fitch

It added that India's economic forecast faces a significant risk in the event of a prolonged spell of disruptions

Interim Budget 2024-25: Govt may target 5.3% fiscal deficit for FY25

Of the 10 research reports by forecasting agencies that Business Standard analysed, eight expect a fiscal deficit at 5.3 per cent of the GDP for FY25, while two agencies have pegged it at 5.4 per cent