Page 25 - Gdp

India remains a bright spot, economy expected to grow 6.7% in 2024: UN

However, higher interest rates and weaker external demand will continue to weigh on investment and exports in 2023, it said

India to contribute 16% to global GDP growth over 2023-24: Morgan Stanley

With Indian economy being a key contributor for Asian economic growth outperformance, the broad-based recovery in demand runs counter to the weakness seen outside Asia, said Morgan Stanley in a report

India's vulnerability to global shocks to reduce in FY24: CRISIL

Domestic banking insulated from global financial turmoil and better positioned to tackle rising interest rates

Roads, traffic and GDP

Addressing the problem of slow and chaotic traffic movement could enhance productivity and welfare in India

India's additional green financing need at 2.5% of GDP: RBI report

PSBs more vulnerable to shocks than private banks

India's green financing requirement estimated at 2.5% of GDP: RBI Study

India's green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030, a Reserve Bank report said on Wednesday. The country aims to achieve net zero emissions target by 2070. The Reserve Bank of India's report on Currency and Finance (RCF) for the year 2022-23 covers four major dimensions of climate change to assess future challenges to sustainable high growth in India. The areas are the unprecedented scale and pace of climate change; its macroeconomic effects; implications for financial stability; and policy options to mitigate climate risks. The country's goal of achieving the net zero target by 2070 would require an accelerated reduction in the energy intensity of GDP by around 5 per cent annually and a significant improvement in its energy-mix in favour of renewables to around 80 per cent by 2070-71, it said. "India's green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030," the report said. According to

Cautious optimism

Incoming data must be read carefully

India's welfare balm

While many analysts have estimated India's potential annual GDP growth at 7-8 per cent, the most recent figures indicate a subdued rate of 4.4 per cent

Indian economy demonstrates strength, GDP to grow at 6% in FY23: Acuite

Most lead indicators at the start of 2023 continue to display resilience, with incremental data Feb-23/Mar-23 faring better than Jan-23

Get real with targets

The credibility of foreign trade policies will improve if they are not obsessed with setting export targets

Personal income tax to GDP ratio surges, indicating rise in taxpayer base

Personal income tax as a percentage of GDP has gone up from 2.11 per cent in 2014-15 to 2.94 per cent in 2021-22 fiscal, indicating that taxpayer base is widening as a result of the steps taken by the present government led by Prime Minister Narendra Modi. At a review meeting with the Central Board of Direct Taxes (CBDT), finance minister Nirmala Sitharaman was apprised about the impact of various steps taken by the apex direct tax body to widen taxpayer base, the finance ministry said. The ministry said the personal Income Tax (PIT), which is paid by individuals, to GDP ratio has been steadily increasing from 2.11 in FY 2014-15 to 2.94 in FY 2021-22. The personal income tax collection (including Securities Transaction Tax) increased to over Rs 6.96 lakh crore, from over Rs 2.65 lakh crore in 2014-15. Introduction of new data sources in Statement of Financial Transactions (SFT) like dividend and interest; securities; mutual funds and information from GSTN in recent years has led to

India's GDP to grow at 6.2% in FY24, RBI to cut rate in Q1: Morgan Stanley

The report also said the inflation in India is likely to be below 5 per cent in the second quarter of calendar year 2024

Top headlines: Adani row probe, Ambani's plan to take on Netflix, Disney

Business Standard brings you the top headlines at this hour

Ukrainian GDP fell 29.1% in 2022 due to Russia-Ukraine war: Official

The GDP decreased by 36.9 per cent and 14.9 per cent respectively in the second and the first quarters of 2022, it added

IMF sees India's combined debt-to-GDP ratio rising for 4 yrs starting FY24

In its latest Fiscal Monitor report, IMF said India's combined debt-to-GDP ratio will rise a tad to 83.2% in FY24 and will hit a high of 83.8% in FY27 before it starts to moderate

India likely to have stable debt-to-GDP ratio going forward: IMF official

India is expected to have a stable debt-to-GDP ratio going forward, a senior official from the International Monetary Fund said on Wednesday and recommended rationalization and simplification of Goods and Services Tax (GST). According to Paolo Mauro, Deputy Director of the IMF Fiscal Affairs Department, there will be a gradual resumption of the rise in the global public debt-to-GDP ratio in the medium-term. "Our baseline projection is for the global public debt-to-GDP ratio to reach 100 per cent again by 2028. It is going to take a few years, but that seems to be the direction of travel," Mauro told PTI in an interview. In 2020 there were massive interventions on the part of governments around the world to support people and firms. That implied a lot of spending and a big rise in government debts. "We reached the peak at the end of 2020 of a 100 per cent when it comes to the ratio of public debt-to-GDP. In subsequent years there was a recovery and globally at the end of 2022, the .

UK economy set for smaller hit in 2023 than previously feared: IMF

British gross domestic product will contract by 0.3% in 2023, the IMF said in its latest set of global forecasts, a smaller shrinkage than the 0.6% contraction the Fund predicted in January

A potent channel

Recent evidence of a sharp slowdown in house construction in major markets poses downside risks to global growth

Weekend Bites: Pause not pivot, GDP, Doge, and litti-chokha for thought

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

India's foreign trade set to cross $1.6-trn mark this fiscal: Report

India's foreign trade is expected to cross the USD 1.6 trillion mark this fiscal despite global economic uncertainties, economic think tank GTRI said in a report. The Global Trade Research Initiative (GTRI) said the USD 1.6 trillion would be about 48 per cent of India's nominal GDP of USD 3.4 trillion for the fiscal year ending March 2023. The higher trade-to-GDP ratio also speaks of high trade openness which the country practices, GTRI co-founder Ajay Srivastava said. According to their analysis of the data by the think tank, the growth rate in the exports of services would be higher than that of goods. Higher growth rate in services exports compared to the outbound shipments of goods has improved overall performance of India's exports, he said. India's overall exports of goods and services during April-March 2023 are estimated to reach USD 755 billion, exhibiting a positive growth of 11.6 per cent over the same period last year (April-March 2022). The report said that India's