Page 33 - Latest Updates on New GDP series

Decoded: What is National Logistics Policy and how will it get implemented?

The policy will be implemented through a Comprehensive Logistics Action Plan (CLAP), which will include key action areas

Multi-modal transport to pivot National Logistics Policy, boost export edge

In line with earlier plans such as National Rail Plan and Maritime India Vision, NLP aims to bring sweeping changes in the current costly, polluting and congesting modal mix of Indian logistics

India Ratings cuts India's FY23 GDP growth forecast to 6.9% from 7%

India Ratings projects GDP growth of 7.2 percent in July-September FY23 quarter, 4 percent in October-December and 4.1 percent in February-March

Sri Lanka's GDP likely plunged amid debt crisis, political turmoil

Gross domestic product probably fell 10% in the three months to June from a year ago, according to a Bloomberg survey of economists as of Wednesday

Fresh salvo at GDP for not capturing ground manufacturing activities

While most criticisms of the data related to GDP are on overestimating economic activities on ground, the latest one in fact censures it for underestimating the manufacturing sector in recent times

Massive floods likely to reduce Pak's GDP by over 2 percentage points: PM

The massive floods in Pakistan are likely to reduce its GDP by over 2 percentage points and the government is grappling with the immediate challenge of averting an imminent food insecurity in the country, Prime Minister Shehbaz Sharif has said. During a telephonic conversation with Turkish President Recep Tayyip Erdogan on Sunday to express gratitude for extending humanitarian relief assistance to Pakistan, Sharif said the ongoing floods have devastated millions of acres of standing crops, houses and critical infrastructure in the country, according to an official statement. The prime minister said as per initial estimates, the floods are likely to reduce Pakistan's GDP by over 2 percentage points. Pakistan is grappling with the immediate challenge of averting an imminent food insecurity in the country as well as providing for rescue and rehabilitation of the victims of this climate-induced calamity, Sharif told Erdogan. He said the government is fighting to avoid food shortages du

PM to launch national logistics policy on Sat for seamless flow of goods

The policy is being brought in tandem with Prime Minister's ambitious GatiShakti national master plan

India committed to cut emissions intensity of GDP by 45%: Power Minister

Power Minister RK Singh said that India is committed to reduce the emissions intensity of its GDP by 45% by 2030 and achieve 50% cumulative electric power installed capacity from non-fossil sources

Private players dominate external debt growth amid economic recovery

External borrowings up 8.2% overall in FY22; private debt accounts for 60%, against 29% a year ago

Moody's retains India rating and outlook, days after cutting GDP forecast

Says credit profile reflects strengths like large and diversified economy, but warns that country is highly exposed to climate change events

Can India's GDP grow 7% annually over 25 yrs? Data suggests it's tough

India has seen GDP growth of 7% or more for five straight years only once in the past 30 years

Could an Indian airline be in race for SriLankan Airlines stake buy?

Even if things improve, it would be hard to keep funding the airline's operations, as the airline has been bleeding money for a while.

Day after Q1 GDP data, a spate of forecast cuts by banks, institutions

Moody's cut its forecast to 7.7%, from 8.8%, citing dampening economic momentum in the coming quarters on rising interest rates, uneven monsoon, and slowing global growth

Are falling growth rates the next big worry for Indian equity markets?

A dip in demand amid rising inflation and central bank policies has seen brokerages, such as Goldman Sachs and Morgan Stanley, cut their respective growth estimates for the Indian economy

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

'Economy grew by 1% annually in 3 yrs': Cong slams govt over GDP numbers

The Congress hit out at the Narendra Modi government on Thursday over the latest GDP numbers, saying the country's economy has grown by a meagre 1 per cent annually in the last three years. "While the Modi Government ministers are congratulating each other over the 13.5 per cent GDP growth, the real truth is that the Indian economy has grown only 3.3 per cent in last 3 years. From Rs 35.67 trillion in Q1 FY20 to Rs 36.85 trillion in Q1 FY23. This is an annual growth rate of around 1 per cent," Leader of Opposition in the Rajya Sabha Mallikarjun Kharge wrote on Twitter. The Congress also said on its official Twitter handle that the GDP growth in the first quarter of 2022-23 was 13.5 per cent, but the reality is horrifying. "The reality is horrifying. Not only GDP growth, GDP itself decreased. 2019-20 Q1 GDP: Rs 35.49 lakh crore. 2020-21 Q1 GDP: Rs 27.04 lakh crore. 2021-22 Q1 GDP: Rs 32.46 lakh crore. 2022-23 Q1 GDP: Rs 36.85 lakh crore. "Only 3.8 per cent GDP growth in 3 years. ...

Centre's fiscal deficit at 5.2% of GDP in Q1; experts say it may widen

Expect capex to pick up in the second half of the year and inch closer to 6.4% Budget estimate for full year

Q1 GDP growth misses estimates despite low base; govt spending subdued

13.5% expansion in June QTR despite low base; GVA at basic prices up 12.7%

Economy likely to grow at 7%-7.4% in FY23, says Finance Secretary

Indian economy is on course for a 7-plus per cent growth rate in the current fiscal year, finance secretary T V Somanathan said on Wednesday. Commenting on the first quarter GDP growth rate of 13.5 per cent, he said the economy is 4 per cent above pre-Covid levels. Allaying concerns of high imports denting the fiscal architecture, he said the government was on course to meet fiscal deficit target of 6.4 per cent of GDP in current fiscal ending March 31, 2023. Economic Affairs Secretary Ajay Seth said GST collection for August is likely to remain in the range of Rs 1.42-1.43 lakh crore, in signs of buoyancy in economy. Also, gross fixed capital formation grows 34.7 per cent during April-June, highest in 10 years, he said.

On course to achieve fiscal deficit target: Finance Secretary Somanathan

Finance Secretary TV Somanathan on Wednesday exuded confidence that the fiscal deficit target of 6.4 per cent of GDP in 2022-23 will be met without pruning capital expenditure. The Union Budget has pegged the fiscal deficit at Rs 16.61 lakh crore or 6.4 per cent of the gross domestic product (GDP) for the financial year ending March 2023. "We are on course to achieve our fiscal deficit target and it is not because of a slowdown in capital expenditure," said Somanathan, who is also expenditure secretary. He further said the government will focus on capital expenditure and try to control revenue expenditure to the extent possible. "We have some large revenue contingencies, which are going to come in here in terms of fertiliser subsidies and food subsidies. So, the fact that revenue expenditure has been growing slightly less than proportionately to that is not a bad thing. It's a good thing," he added. The capital expenditure was Rs 1.75 lakh crore during the first quarter of 2022-23