Page 22 - Gdp

AI, online gaming can add up to $300 bn to GDP by 2026-27: IT minister

Artificial Intelligence and online gaming segments can add up to USD 300 billion dollars to India's gross domestic product (GDP) by 2026-27, Union Minister Rajeev Chandrasekhar said here on Thursday. The Minister of State for Information and Technology said the government will host a global summit titled 'India AI -2023' on December 10 this year in a major push to artificial intelligence. "We see emerging technologies like AI (artificial intelligence) as being kinetic enablers of the digital economy, considering that the AI segment and online gaming segments can add almost USD 200-300 billion to the digital economy component of the GDP," Chandrasekhar said. "Our target is USD 1 trillion in the digital economy, part of the USD 5 trillion dollar GDP by 2026-27, which would be 20 per cent of the GDP. We think that AI will be a very significant component of that, which is why Prime Minister Narendra Modi has launched the 'India AI' programme," he told reporters on the sidelines of a ...

India's debt to GDP ratio to peak at 82.3% in FY25, fall in FY29, says IMF

The IMF's present estimates mark a notable deviation from its April projections

IMF raises India FY24 GDP growth forecast by 20 basis points to 6.3%

Agency keeps global growth forecast unchanged at 3% for 2023, says economic activity still 'short of pre-pandemic path'

Policy rate unchanged at 6.5%, FY24 inflation forecast retained at 5.4%

RBI policy: Shaktikanta Das said that real GDP forecast for 2023-24 has been retained at 6.5% by MPC

Airbnb added Rs 7,200 crore to India GDP last year: Oxford Economics

The GDP contribution and jobs supported more than doubled compared to 2019 despite the Covid-19 outbreak and the related restrictions

India to clock GDP growth of 6.5% in FY24: NITI Aayog Ex-VC Rajiv Kumar

On the domestic side, Kumar said inflation is beginning to come down to the target levels and the government tax revenues have shown a good 16 per cent increase over last year

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