Page 22 - Gdp

India's fiscal deficit rises to Rs 6.42 trillion, 36% of FY24 target

In the same period in FY23, the deficit was 32.6 per cent of the full-year target

Current account deficit widens to 1.1% of GDP in June qtr at $9.2 bn

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

FinMin retains 6.5% GDP growth estimate for FY24, says 'outlook bright'

The Finance ministry is confident that the impact of these developments on underlying economic activity in India should be relatively contained

India's growth rate and the sanctity of GDP deflator

The available data does not obviate the significance of the recent performance and resilience of the Indian economy, including in the context of the concomitant global trends

Pension reform reversal

The fiscal burden of states will increase over time

Finance ministry defends GDP deflator and real GDP growth estimate

The finance ministry said India's GDP deflator is dominated by the Wholesale Price Index

Being people-centric: Indian govts no slouches when it comes to spending

Percentages can mislead: A higher percentage of a lower GDP per head can translate into less absolute spending per head than a lower percentage of a much greater GDP per capita, notes T N Ninan

What more can India do to win over the Big Three sovereign rating agencies?

A high sovereign credit rating can raise a country's star among the global investor community; a low rating, indicating doubts over ability to repay debts, increases its financing costs

Global debt fell as share of GDP in 2022, may resume rising trend: IMF

The IMF said in an update to its Global Debt Database that the world's total debt to-GDP ratio fell last year to 238 per cent from 248 per cent in 2021 and 258 per cent in 2020

No slowdown in tech spend in domestic market: IBM India's Sandip Patel

Burton opined that if one compared the tech spend ratio to the gross domestic product of the company in the developing economy, it only points to increased spending

Top headlines: India's economy 16.5 yrs behind China, Inflation a key issue

Business Standard brings you the top headlines at this hour

Confident of meeting fiscal deficit, nominal GDP targets: DEA secy

Govt keeping a close watch on some sectors for supply side measures to tame inflation

Six new members' combined share of Brics GDP to be just 11%: Report

GDP share of the six new members, being added to the five-member BRICS grouping of emerging economies from January, will be just 11 per cent, with Saudi Arabia's contribution the highest at 4 per cent, an analysis shows. The proposed addition of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to the five-member BRICS, or Brazil, Russia, India, China and South Africa, will also see the grouping's share in the global GDP rising to 30 per cent from 26 per cent now and that of the population to 46 per cent, according to an analysis by the SBI Research. The expansion decision, effective January 1, 2024, was announced at the recent BRICS summit held in Johannesburg. Currently China contributes 70 per cent of the BRICS' GDP, which will decline to 62 per cent, while India chips in with 13 per cent now that will inch down to 12 per cent. Russia contributes 8 per cent, Brazil is at 7 per cent and South Africa contributes a paltry 2 per cent, giving combined 26 per

Weekend Bites: Beleaguered tycoon, GDP, Ambani children, and Wonderlust

In which we munch over the week's platter of news and views

Like India, quarterly GDP growth also up in other large economies

China, Japan, the United States and the UK have shown a stronger rate of gross domestic product (GDP) growth in the second quarter of 2023 compared to the previous quarter

Moody's ups GDP projection to 6.7% for CY2023 on robust economic momentum

Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. "Given the robust underlying economic momentum, we also recognise further upside risk to India's economic growth performance," it added Moody's said since the second quarter outperformance creates a high base in 2023, "we have lowered our 2024 growth forecast from 6.5 per cent to 6.1 per cent". India's monsoon season which runs from June to October could also see below average rainfall, resulting in higher food prices. So far, as of August 29, the India Meteorological Department has estimated a 9 per cent rain deficiency across the ...

Top headlines: Q1 GDP data, core sector output slowed to 8%, and more

Business Standard brings the top headlines at this hour

India's GDP growth accelerates to four-quarter high of 7.8% in Q1 FY24

Weak monsoon, depressed global demand, rising rates cloud outlook

India to clock GDP growth of 6.5% in FY24 despite rainfall deficit: CEA

Chief Economic Advisor V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient monsoon rains. He also said that there is no real cause for concern that inflation would spike out of control as both the government and the Reserve Bank are taking adequate steps to maintain supply and keep prices under check. The CEA said food inflation is likely to subside with the arrival of fresh stock and government measures. However, the impact of deficient rains in August is to be watched. "There is momentum in economic activity in general and it is not driven by price-related distortions. Therefore our projections still are very comfortably placed at 6.5 per cent for the current financial year," he said. Risk is evenly distributed to around 6.5 per cent growth projection for FY2023-24, he said while briefing media following the release of first quarter GDP numbers. Rising crude prices may warrant attention and prolonge

Indian real GDP grew 7.8% in April-June quarter; lower than RBI's estimates

In its recent bi-monthly monetary policy announcement, the Reserve Bank of India had pegged the GDP growth rate for the June quarter at 8 per cent