Page 32 - Gdp

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 ...

India GDP grew by 9.7% in H1FY23, says Finance Ministry

The Ministry said it could not present the Medium Term Expenditure Framework in Parliament, as mandated by the Fiscal Responsibility and Budget Management Act

India all set to achieve $5 trillion economy target by FY25: Nitin Gadkari

India is the fastest growing major economy in the world and is all set to achieve USD 5 trillion GDP by 2024-25, Union Minister Nitin Gadkari said on Friday. Addressing an event organised by industry body FICCI, Gadkari said the central government is aiming to boost growth and employment to achieve sustainable development. The road transport and highways minister said India will play a key role in achieving global Sustainable Development Goals (SDGs) 2030. Gadkari noted that India needs to increase its exports and reduce imports. "We are also working on developing alternative, clean and green fuel like bio ethanol, bio-CNG, bio-LNG and green hydrogen," he said, adding green hydrogen is the fuel for the future. The minister said currently India's automobile industry is worth Rs 7.5 lakh crore and he wants to take it to Rs 15 lakh crore."This will create lots of new jobs." He also said his focus is on reducing cost of construction. "We are trying to minimise use of steel and cement

Indian households outdo emerging market peers on cutting debt levels

Only one among BRIC countries to have cut leverage to levels to pre-pandemic levels

Sri Lanka's economic woes continue, data shows GDP contracted 11.8% in Q3

Sri Lankan authorities say the island-nation's estimated GDP contracted by 11.8 per cent year-on-year in the third quarter of 2022

Enhance budget for PLI scheme and widen its coverage: Assocham

The government's PLI scheme, introduced in 2021, had an outlay of around Rs 2 trillion for 13 sectors

India's CAD in July-Sept qtr likely shot up on widening trade gap: Report

The median forecast of 18 economists in a Dec. 5-14 Reuters poll was for a $35.5 billion current account deficit in the July-September quarter, or 4.3% of GDP, the most in nearly a decade

On track to meet FY23 fiscal deficit target, inflation within RBI band: FM

'We'll bring inflation down further for the sake of common people', said FM Nirmala Sitharaman

ADB keeps India's GDP growth unchanged at 7% for current financial year

Asian Development Bank (ADB) has kept its outlook for India's economic growth unchanged at 7 per cent for the current fiscal year while forecasting a weaker-than-previously expected pace for developing Asia. ADB's 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent. The Manila-based ADB in a report on Wednesday saw Asia expanding 4.2 per cent this year before accelerating to 4.6 per cent in 2023. These projections compare to the previously estimated expansion of 4.3 per cent and 4.9 per cent, respectively. "Despite recent global headwinds, the Indian economy is expected to grow by 7.0 per cent, as projected in the Update, supported by a strong domestic base. "While some recent high-frequency indicators are more favourable than expected -- notably consumer confidence, electricity supply and purchasing ...

ADB cuts developing Asia's GDP outlook for 2023 amid global growth concerns

Growth in China, the largest economy in Asia, is expected to slow in 2022 to 3% against a 3.3% expansion predicted in a September report

World debt-GDP ratio plummets, but over pre-Covid level, says IMF

Total debt fell to 247 per cent of global gross domestic product last year, IMF data showed. That's 10 percentage points less than in 2020, but is still the second-highest reading in history

Investment conundrum

Economic uncertainty may delay private investment

New Goa Airport to stimulate state's GDP, bring more jobs: Management

With a capacity of handling 44 lakh passengers per annum, which is scalable to 330 lakh, the greenfield international airport at Mopa in North Goa is expected to stimulate the state's GDP and increase job opportunities, the airport management said. Prime Minister Narendra Modi will on Sunday commission the first phase of the airport, managed by GMR Goa International Airport Limited. GMR Goa International Airport Limited, in a series of tweets, said the facility will boost the socio-economic development of the state. The airport has a capacity to handle 44 lakh passengers per annum, which is scalable up to 330 lakh, it added. The company said the new facility will stimulate the state's GDP and in turn, increase job opportunities. The airport, which is named as New Goa International Airport till the Union Civil Aviation Ministry finalises a name for it, has adopted best-in-class technologies. The company said 3-D monolithic precast technology has been used for the construction of ..

Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget

This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26

Union Budget: Understanding the GDP, GVA and the difference between the two

While GDP measures the total value of products and services a country manufactures or delivers, GVA measures the value added to product in order to enhance their worth

G20 presidency gives India opportunity to showcase its ed-tech leadership

Given India's achievements in the digital world and Ed-tech, it can not only push education widely among the learners in India with inclusivity but also help other developing countries

Remarkably resilient: World Bank ups FY23 India growth forecast to 6.9%

Says strong macro fundamentals place country in good stead

India Inc's profit declines sharply to 3.48% of GDP in Q2 of FY23

Ratio for manufacturing firms at 9-quarter low of 0.93%