Page 37 - Latest Updates on New GDP series

Policy tightening to pressure FY23 numbers, deficit seen at 6.7%: Report

The government has pegged the combined fiscal shortfall at 9.8 per cent of which the central deficit is seen at 6.4 per cent (down from 6.7 per cent in FY22) and states' at 3.4 per cent for FY23.

Is the Indian economy out of the woods?

The central govt mopped up Rs 1.41 tr as GST collection in May, way above the FY22 average of Rs 1.23 tr. Auto sector also reported improved sales. Do these reflect a revival in Indian economy?

Rupee recovers from record low, spurts 20 paise to 77.51 per US dollar

The rupee on Wednesday recovered from its record low to close 20 paise higher at 77.51 (provisional) against the American currency. At the interbank forex market, the rupee opened at 77.58 against the greenback and moved in a range of 77.51 to 77.62 in the day's trade. The rupee finally ended at 77.51, higher by 20 paise over its previous close. On Tuesday, the rupee had declined by 17 paise to close at its all-time low of 77.71 against the US currency as surging US bond yields dampened the appeal of riskier assets. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 101.90. Brent crude futures, the global oil benchmark, surged 1.84 per cent to USD 117.73 per barrel. "Rupee continued to trade in a narrow range and volatility remained low despite marginal weakness in domestic and global equities," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. On the domestic front, GDP and fiscal ...

Q4 GDP numbers a positive surprise with growth coming in at 4.1%

The implicit inflation in FY22 works out at 10 per cent, with the nominal GDP growth at 19.5 per cent

IMF may lower India's GDP growth projection for 2022 to below 8.2%

The IMF had cut India's gross domestic product (GDP) growth projection for 2022 to 8.2 per cent from 9 per cent in its World Economic Outlook report in April

Revenue spend may be cut to limit slippage: Finance secretary TV Somanathan

To compensate for impact of over Rs 1.5 trn on account of measures announced to rein in inflation, including cut in fuel prices and Customs duty exemption: Somanathan

India's GDP grows 4.1% in Q4; expands 8.7% in FY22: Govt data

Manufacturing sector contracts in March quarter due to supply disruptions

Stagflationary risk to India quite low compared to other countries: CEA

V Anantha Nageswaran also ruled out recession hitting India, given its macroeconomic fundamentals

Moody's cuts CY22 India GDP growth forecast to 8.8% amid rising inflation

Says rise in crude, food, and fertiliser prices will weigh on household spending

SBI economists peg Q4 GDP growth at 2.7%, FY22 expansion at 8.5%

Official data on the economy is expected to be released on May 31

WEF 2022: Every dollar invested in social jobs to yield $2.3 return

Jobs in the US include 4.2 million teaching jobs, 1.8 million in personal care and service workers, and 900,000 jobs in healthcare.

Q4 GDP growth may be less than 3%: SBI study flags 'forecaster's nightmare'

Lender's chief economic advisor says projection for economy is clouded by significant uncertainties.

A Vyapar Credit Card for MSMEs

Government data indicates that less than 40 per cent of MSMEs borrow from the formal financial system

Duty cut on petrol, diesel to put pressure on fiscal deficit: Experts

The tax reduction on petrol and diesel will lead to revenue loss of around Rs 1 lakh crore per year for the government

Tax revenue boost or expenditure cuts can help meet fiscal deficit target

The impact of Saturday's excise duty cuts will be Rs 1 trillion for a year, Finance Minister Nirmala Sitharaman had said

India's economic growth likely to be robust at 8.9% in FY23: FM at NDB

Nirmala Sitharaman also expressed confidence that India will continue to achieve a high growth rate in the next financial year as well

Aatmanirbhar Bharat needs Aatmanirbhar banking sector: CII's Sanjiv Bajaj

In a Q&A, the president of the industry body dwells on how a cut in fuel duties will spur demand, and the impact of interest rate regime on India's FY23 GDP growth

Morgan Stanley cuts India's growth forecasts on inflation, global slowdown

Gross domestic product growth will be 7.6% for FY23 and 6.7% for FY24, 30 basis points lower than the previous estimates, the brokerage said in a note

UNGA meets to help reverse slump in global tourism sector post pandemic

"In 2019, prior to the pandemic, tourism contributed $3.5 trillion to global GDP. The precipitous drop during the pandemic is estimated to have cost up to 120 million jobs," the UNGA President noted

Incremental credit-to-GDP FY23 share likely to cross 50% mark: SBI report

The share of incremental bank credit in incremental nominal GDP is likely to cross the 50 per cent mark in the current financial year, from a decade low of 27 per cent in FY2022, an SBI report said