Page 29 - Gdp

Climate change targets pose stark challenge for the developing world

Floods and drought, hurricanes and heat waves will make the path out of poverty much more difficult. But trying to limit climate change poses its own set of problems for the developing world

Kashmir apple rates down by 30%, growers seek govt support to curb losses

A bumper apple production in Kashmir this season has failed to cheer up growers as their produce is being sold at nearly 30 per cent lower rates than last year. Faced with huge losses, apple farmers have now sought government intervention. The Kashmiri apple hogged the headlines in September after an uproar over frequent disruption in its transportation from the orchards in the valley to markets outside the Union territory, including Azadpur Mandi, Asia's largest wholesale market. Kashmir produces about 75 per cent of the total apple crop in the country and is considered the backbone of its economy, contributing about 8.2 per cent to Jammu and Kashmir's GDP. "The rates of apple coming from Kashmir this season are down by about 30 per cent compared to 2021, and there is no doubt the growers are suffering huge losses. It is very difficult for them to overcome the losses without government support," Chamber of Azadpur Fruit and Vegetable Traders president Metha Ram Kriplani told ...

The UK or Korea: What is the ideal benchmark for the size of India's govts?

There must be a warning in the fact that some of the most problem-ridden middle-income economies have big govts, big deficits, high levels of debt and large-scale corruption, writes T N Ninan

German economy sees unexpected growth in Q3 with 0.3% GDP expansion

The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed on Friday. Gross domestic product in Europe's biggest economy expanded by 0.3 per cent in the July-September period compared with the previous quarter, the Federal Statistical Office said. That followed a slight increase of 0.1 per cent in the second quarter. The German economy managed to hold its ground despite difficult framework conditions of the global economy, with the continuing COVID-19 pandemic, supply chain interruptions, rising prices and the war in Ukraine, the statistics office said. The government said earlier this month that GDP was believed to have shrunk in the third quarter and was expected to decline again in the last three months of the year as well as the first three months of 2023 before beginning to recover. Two consecutive quarters of negative growth is one technical definition of recession. With energy prices high,

GDP report points to economic recovery, recession unlikely: Biden's adviser

The third quarter GDP report on the US economy points to an economic recovery and quells fears of an impending recession, President Joe Biden's key economic adviser has said. The US economy grew at a better-than-expected 2.6 per cent annual rate from July through September, snapping two straight quarters of economic contraction and overcoming high inflation and interest rates. Thursday's estimate released by the Commerce Department revealed that the country's GDP grew in the third quarter after having shrunk in the first half of 2022. I think, we have some real momentum here, Jared Bernstein, member of the White House Council of Economic Advisers, told PTI on Thursday. Referring to the latest report on the US economy, Bernstein said: That's a solid growth rate and it means that the economy expanded in the third quarter of this year. For months, doomsayers have been arguing that the US economy is in recession and Congressional Republicans have been rooting for a downturn. But Bern

How is centre faring on its non-tax revenues, divestment targets in FY23

The total non-tax revenue target for the year is Rs 2.69 trillion, while that for disinvestment is Rs 65,000 crore

India needs dedicated wing to release Green GDP estimates, says RBI article

India needs to set up a dedicated wing in the environment ministry to release estimates of Green GDP periodically on a regular basis and create a user-friendly data dissemination platform, said an RBI article. Green GDP takes into account estimates for environmental degradation, depletion of natural resources, and savings of resources and environment into the national income accounts. "Given the paucity of relevant data, estimation of Green GDP for India in this paper relies on an available global database and provides the starting point for future research in this area of environmental and economic accounting," the article said. The trajectory of Green GDP for India displays an upward movement with visible improvements particularly, since 2012, it added. The central bank said that the views expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India. "Furthermore, resource depletion, CO2 emission and material footprint, especially

Statsguru: Six charts explain IMF's warning on the global economy

The cost of borrowing is going up for emerging markets and budget constraints are increasingly making their effects felt

Through a 40-year prism: India's record creditable, but not outstanding

India's share of world GDP, after shrinking in the 1981-91 decade from 1.7% to 1.1%, rose to 2.5% by 2011, and then to 3.3% in 2021, with still higher shares to come, writes T N Ninan

India to become world's third-largest economy by FY28, says IMF

Projected to grow bigger than Japan at $5.36 trillion

India macro indicators may return to FY20 levels by FY27, says IMF

Although China's debt to GDP ratio is projected to remain at 76.9 in 2022, it is projected to overtake India's ratio in 2024 at 89.8 and continue to increase further to 102.8 in 2027

India's debt ratio projected to be 84% of its GDP by end of 2022: IMF

India's debt ratio is projected to be 84 per cent of its GDP by the end of 2022, which is higher than many emerging economies, but its debt is a little bit easier to sustain, a senior IMF official has said. Stressing that it is important for India to now have a very clear medium-term objective on the fiscal, Paolo Mauro, Deputy Director, Fiscal Affairs Department, International Monetary Fund, said there's still not a whole lot of clarity on the fiscal anchor. "It would be very important to give reassurance to people and to investors that things are under control, and things are going to become less vulnerable over time," Mauro, told PTI in an interview. "In terms of the debt ratio, India right now at the end of 2022, we're projecting it at about 84 per cent of GDP. That is higher than in many emerging economies, he said. Of course, India has a lot of special features being the most populous country in the world by now and being a very large, emerging economy, he said. The other ..

Don't let exposure to mid and small-cap funds exceed 30%: Experts

They will outperform if GDP, earnings growth sustain, but global risks pose threat

Results preview: Order-book booster to stay for capital goods firms

Key monitorables include tender pipeline and emerging supply-chain scenario, say analysts and players

India may not be able to completely avoid impact of global recession

Lower global commodity prices to help the economic growth

RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7%

Inflation target retained at 6.7%; trajectory remains uncertain: Governor

India's April-August fiscal deficit recorded at 32.6% of FY23 target

Sabnavis said the progress till August shows that the government's accounts are on course compared with last year

RBI expects current account deficit to come under 3% of GDP in FY23

The Reserve Bank expects the current account deficit to be under 3 per cent of GDP in FY23, Deputy Governor Michael Patra said on Friday. The CAD will "modestly widen" in the first half of the fiscal year and narrow in the second half, Patra told reporters in the customary post-policy press conference. "Overall, we expect the current account deficit to be under 3 per cent of GDP (in FY23)," Patra said. The comments come a day after official data released by the Reserve Bank of India (RBI) showed that the CAD widened in the first quarter of the fiscal to 2.8 per cent of GDP. In FY22, the CAD had stood at 1.2 per cent of the GDP. Patra said there are factors beyond the widening trade deficit as the exports are getting hit due to adverse economic developments in the advanced economies, and pointed out certain factors helping the CAD lately. He said the oil prices have moved south, which will lower the import bill, and there has been a 23 per cent growth in petroleum exports, courtes

Germany set to enter recession in 2023 with 0.4% decline in GDP: Report

Germany is set to enter a recession in 2023, with a decline in gross domestic product (GDP) of 0.4 per cent, according to a joint forecast published by leading economic institutes in the country

Was it prudent of the Centre to extend the free foodgrain scheme?

The Central government has extended its free foodgrain scheme for another three months, till December. Now, when the pandemic has waned and the economy has opened, do we still need this scheme?