Page 25 - Latest Updates on New GDP series

Digital economy can contribute 25% GDP, reach $7 trn by FY29: K V Kamath

Noted banker KV Kamath, who now chairs the National Bank for Financing Infrastructure and Development (NaBFID), expects the digital sector to contribute a quarter of the incremental GDP by the time the economy becomes a USD 7 trillion giant by FY29. Currently, the contribution of the digital economy is a low 4 per cent, whereas it is as much as 40 per cent in China. The government and planners see the economy becoming the third largest in the world by FY29, overtaking Japan, with a GDP of USD 7 trillion from the present USD 3.3 trillion. The digital economy -- the digital infrastructure, e-commerce and other digital payments and services segments--can be the country's biggest growth-driver and can contribute as much as 25 per cent of the incremental GDP by the time India becomes a USD 7-trillion economy by FY29. Currently, the share is a low 4 per cent, Kamath told PTI in an interaction over the weekend. "As much as 40 per cent of the Chinese economy come from the digital sector

US GDP revised lower on weaker consumer spending in fourth quarter

Inflation-adjusted gross domestic product (GDP) increased at a 2.7 per cent annualised rate during the period, Commerce Department data showed

G20 leaders to gauge toll on global economy on Ukraine war's anniversary

U.S. Treasury Secretary Janet Yellen on Thursday highlighted the improvement, saying the global economy "is in a better place today than many predicted just a few months ago"

Indian workers with digital skills contributing $508 bn to country's GDP

Workers in India, who use advanced digital skills like cloud architecture or software development, are contributing an estimated $507.9 billion (Rs 10.9 trillion) to the country's annual GDP

Budget and the growth process

The government's command over household savings needs to be reduced for stimulating demand and private credit

Economic revival 'complicated' due to growing global competition: Xi

This is the slowest growth of China's economy since the 2.3 per cent registered in GDP in 1974

India's GDP likely to grow at 6.2% in FY24, says Morgan Stanley

Earlier, the Budget for FY24 had projected nominal GDP growth at 10.5 per cent, as the centre increased the capital investment outlay steeply for the third year in a row by 33 per cent to Rs 10 trn

Turkey cracks down on builders; cost of earthquake pegged at 10% of GDP

Death toll in Turkey, Syria crosses 33,000; UN sees this rising to 50,000

What makes Delhi Mumbai Expressway the crown jewel of India's road infra

The project, being built at a cost a trillion rupees, is the country's longest expressway, and is endowed with hundreds of amenities and facilities

Rising India rates to upset PM Modi's Budget math on small savings

Bonds have since pared their gains, with the budget math increasingly looking daunting as commercial interest rates soar tracking a tight monetary policy

Top headlines: Adani stcks remain in MSCI indices, TikTok fires India staff

Business Standard brings you the top headlines at this hour

Four economic trends that will impact India

The Budget reflects the shift globally in government capital expenditure, inflation, fiscal deficit and globalisation

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

RBI monetary policy: In December, Das had said that despite consecutive rate hikes, core inflation had continued to remain 'sticky'

What will drive global growth?

Ageing populations are likely to slow capital formation in North Asia, hurting global growth

Decluttering the defence budget

There is a need to streamline allocations and make the budgetary document less complicated to assess its true impact

IMF projects slowdown in Pakistan's GDP from 3.5% to 2%, shows report

The International Monetary Fund projected a slowdown in the Gross Domestic Product (GDP) from 3.5 per cent to 2 per cent for the current fiscal, The News International reported

Mexico's economy logs 3% growth in 2022 with push from 3 sectors: Report

The Mexican economy expanded by 3 per cent in 2022, thanks to its three major productive sectors, the National Institute of Statistics and Geography said in a preliminary report

Canada's real GDP grows 3.8% in 2022 on back of post-pandemic revival

Canada's real gross domestic product (GDP) grew 3.8 per cent in 2022, the national statistical agency announced

Euro zone economy unexpectedly grows in Q4 but weak 2023 looms

France registers unexpected GDP expansion while Italy shrinks

CAD may reach manageable levels in second half of FY23: Economic Survey

This could be owing to cheaper crude oil, resilient net services exports and buoyant inward remittances