Page 41 - Gdp

Goyal asks industry to raise manufacturing contribution to 25% of GDP

Commerce and Industry Minister Piyush Goyal on Thursday asked the industry to look at ways to increase the contribution of the manufacturing sector to 25 per cent of GDP and set up 10 R&D labs or innovation centres to become a global leader in technology. He also said the industry should make all-out efforts to increase the share of exports to about 25 per cent of the GDP (gross domestic product). Addressing the closing session of the DPIIT's webinar on 'Make in India for the World', he talked about a five-point vision for boosting manufacturing and promoting exports. "How can we really take our manufacturing contribution to the GDP to 25 per cent? Can we increase our global trade to 10 per cent of the size of our economy?... These are ambitious targets but, I think, doable. "Can we look at being one of the top-three nations in services exports? Can we look at supporting MSMEs (micro, small and medium enterprises) to increase their participation in foreign trade," Goyal ...

FY22 GDP estimates: Weak patches start to appear

The 8.9 per cent GDP growth in FY22 (9.2 per cent prelim estimates) partly also captures past revisions

Household consumption up; below pre-Covid level: FY22 GDP estimates

The NSO also released the GDP data for October-December (Q3) of FY22

Disappointing numbers

Estimate of GDP growth for current year lowered

India's GDP growth slows to 5.4% in Q3, estimated to rise 8.9% in FY22

In the current fiscal, GDP growth stood at 20.3% in April-June quarter and 8.5% in July-September period

FY22 GDP estimates: Economic growth weighed down by mfg, construction

While an adverse base was expected to flatten growth in the quarter from 8.5% in Q2FY22, NSO's initial estimates are sorely below our expectation of a 6.2% YoY expansion in that quarter

FY22 GDP estimates: Some surprises in the internals

The share of consumption and government expenditure has come down in FY22, which is reflective of the economy not yet being fully back on track

Govt should put out paper on why it expects over 8% GDP: Chidambaram

Congress leader P Chidambaram on Monday said instead of indulging in "vain boasts" it should put out a reasoned paper on why it expects real GDP growth to be over 8 per cent in 2022-23

India's GDP likely to grow at 5.8% in Oct-Dec, says SBI report

India's gross domestic product (GDP) is likely to grow at 5.8% in the third quarter of fiscal 2022 from October to December, says Ecowrap- SBI's research report.

States' fiscal deficit to stand at 3.6% in FY23, India Ratings

Revising outlook on state finances to improving in FY23 from, Ind-Ra expects the aggregate fiscal deficit of states to stand at 3.6% of their GDP from 3.5% in FY22 on back of robust revenue growth.

Singapore slightly upgrades Q4 GDP, keeps 2022 forecast for growth at 3-5%

Gross domestic product (GDP) grew 6.1% year-on-year in the fourth quarter, the Ministry of Trade and Industry (MTI) said, slightly higher than the 5.9% growth in the government's advance estimate

Post-third Covid wave economic reset by year-end: Finance Ministry

Manufacturing, construction to drive growth on back of PLIs & spending on infra

Budget brings stability, inflation less than that during 2008 crisis: FM

There is no question of a slowdown or recession, said Sitharaman, as she cited an estimated 9.2 per cent GDP growth in the current fiscal year ending March 31

This Budget forward looking, has vision for India at 100: Sitharaman

Nirmala Sitharaman on Friday said in the Rajya Sabha that the Budget 2022-23 stood for continuity, was forward looking and has a vision for 'India at 100'.

Fiscal deficit will come down once revenues start to grow: Tarun Bajaj

Union Revenue Secretary Tarun Bajaj on Friday said that the country's fiscal deficit will come down once revenues start to grow. Speaking at a webinar organised by the Bengal Chamber of Commerce and Industry (BCCI), Bajaj said that the government had adopted a loose fiscal policy on the backdrop of increased capital expenditure. "The fiscal deficit at present is 6.9 per cent of the GDP. The target for 2025-26 is to bring down to 4.5 per cent. If we continue to grow our revenues, the fiscal deficit can come down by 0.1 or 0.2 per cent", he said. Next year, the targeted fiscal deficit is 6.4 per cent, Bajaj said, adding that the government had the opportunity to lower it further. "But increased capital expenditure by almost 35 per cent had forced us to keep the fiscal level at that level", he added. The Revenue secretary said since last year, the Centre had started giving money to the states for making capital expenditure. Unless this is done, the last mile infrastructure will not

Centre's GDP deflator forecast for FY23 is 3-3.5%: FM Nirmala Sitharaman

Based on Sitharaman's statement, the finance ministry's own real GDP projection is closer to that of the Reserve Bank of India

India's market capitalisation-to-GDP at 116%, highest since 2007

Despite the wobble in the markets over the past few weeks, Indian equities remain expensive as measured by several yardsticks

Weak fiscal strength to remain key credit challenge for India: Moody's

Agency says it may be challenging for govt to push through material revenue reform given general elections that need to be held by mid-2024, as well as various state elections before then

Union Budget 2022: How the India's social sector gets short shrift

Government allocations on health and education do not meet its targets and consistently fall short in terms of actual spending

Finance Ministry's real FY23 GDP forecast lower than in Economic Survey

The last time India's real GDP was at 8 per cent-plus was in 2015-16 (8 per cent) and 2016-17 (8.3%)