Page 28 - Latest Updates on New GDP series

Conservative budgeting

Fiscal space should be used carefully

World Bank cuts 2023 economic growth forecasts, warns of global recession

Spillovers from a period of pronounced weakness in the US, China and the European Union are exacerbating other headwinds faced by poorer nations

Govt likely to consolidate fiscal deficit to 5.9% of GDP in FY24: Goldman

The government aims to shrink the gap to below 4.5% of GDP by 2025-26

West Bengal gave $1.5 bn only to women: Mamata Banerjee at G20 meet

Banerjee pointed out how the state GDP had grown manifold during the tenure of her government and about 12 million jobs have been created

India, Bangladesh unlikely to cut subsidy bill as elections near: Moody's

Average fiscal deficit to be 4% of GDP in 2023, says agency's Sovereigns--Asia-Pacific report

Economists peg India's FY24 growth at 6% after advance estimates

Say expectations of easing inflation levels, good rabi output will be supportive of domestic demand

Fiscal focus

Govt must aim for faster consolidation

India's GDP likely to grow 7% in FY23: NSO's first advance estimates

The RBI and the World Bank have projected 6.8 per cent and 6.9 per cent GDP growth respectively for FY23

India's GDP growth estimates may be revised by one percentage point

The average variation in growth may be as high as a percentage point over the last six years

Indian GDP pegged to grow at 7% in FY23: NSO's advance estimates

The output of the manufacturing sector is estimated to decelerate to 1.6 per cent as against a growth of 9.9 per cent in FY22

Russia's ongoing war plunges Ukraine's GDP to record 30.4% in 2022

The country's GDP is expected to rise 3.2 per cent this year, according to the government's projection

Citigroup cuts India's current account deficit forecast to below 3% of GDP

Net exports of services rose 35% to $34.5 billion in the second quarter of the current fiscal

In 2047, India's GDP will be approaching close to $20 trn: Bibek Debroy

He said that basic necessities have been provided to the people and more so in the rural areas by the government

Dec manufacturing PMI at 26-month high of 57.8 as production picks up

Growth in new orders and output enable factories to end 2022 on a strong note: Survey

Corporate tax collection to GDP ratio exceeds 3% after two years in FY'22

Corporate tax collections exceeded 3 per cent of the GDP after a gap of two years in 2021-22, reflecting overall improvement in profitability of India Inc propelled by increase in demand for goods and services. However, the corporate tax collection is yet to surpass its five-year high of 3.51 per cent of GDP recorded in 2018-19. In actual terms, the net corporate tax collection in 2021-22 stood at Rs 7.12 lakh crore. The Gross Domestic Product (GDP) at current market price was Rs 236.64 lakh crore. The percentage of net corporate tax to GDP worked out to be 3.01 per cent. An analysis of five-year data of corporate tax collection as a percentage of GDP showed that the ratio was the highest in 2018-19. The net corporate tax collection stood at Rs 6.63 lakh crore or 3.51 per cent of GDP. The mop up and ratio slipped to 2.77 per cent of GDP in 2019-20 on account of reduction in corporate tax rate. In the biggest reduction in 28 years, the government cut corporate tax rates for new ...

India's current account deficit in July-Sept rises sharply to 4.4% of GDP

Balance of Payments position sees depletion of $30.4 billion, says central bank

Group financially strong, India GDP to add $1 trn every 12-18 months: Adani

Adani group is rapidly diversifying beyond ports and coal-based businesses into green energy, airports, cement, media, data centers and metals

After massive mandate, Gujarat's BJP-led govt eyes $1 tn economy by 2030

According to the state budget its Gross State Domestic Product is estimated to be Rs 22,03,062 crore by the end of the current financial year

IMF calls for 'more ambitious' fiscal consolidation by India, cites risks

But govt asserts public debt is sustainable

Pakistan's central bank slashes GDP growth forecast to below 3-4%

Pakistan's central bank has lowered its projected GDP growth estimates for the cash-strapped country from the previously announced range of 3-4 per cent for the current fiscal year, citing flood-induced destruction and the stabilisation policy. The State Bank of Pakistan's (SBP) flagship economic health report released on Wednesday said economic growth was stronger than expected in the 2021-22 fiscal year as the real GDP increased by 6 per cent compared to 5.7 per cent a year ago. The primary drivers of this growth were a broad-based expansion in large-scale manufacturing (LSM) and improved agricultural output, the Dawn newspaper said, quoting the report. The primary drivers of this growth were a broad-based expansion in LSM and improved agricultural output, the report said. A combination of adverse global and domestic developments led to the re-emergence of macroeconomic imbalances during FY22, it said. The SBP said that the economy was already in a stabilisation phase when ...