Page 42 - Latest Updates on New GDP series

India Q2Fy22 current account deficit at 1.3% of GDP, likely to widen

Central bank says the deficit is mainly due to widening of trade gap and an increase in net outgo of investment income.

Old vs new: The GDP estimation debate

The argument that the new methodology over-estimates GDP numbers requires deeper analysis

India's real GDP likely to maintain 9% growth rate in FY22, FY23: Report

The Indian economy grew at 8.4 per cent in the second quarter of the current fiscal, as against a growth of 20.1 per cent in the April-June quarter

Best of BS Opinion: Hindutva's damaging game, protection from DPA & more

Here is the best of Business Standard's opinion pieces for Tuesday

Sources and methods

Questions about GDP calculation refuse to go away

BofA expects 8.2% GDP growth for India in FY23 with more downside risks

The biggest risk to the projection is a derailed consumption demand that has been the main growth driver in the past many years, said the Bank of America Securities India house economists

Few takers for Subramanian's theory that GDP collapsed before Covid

But those involved with GDP calculations concede he used robust parameters

Macroeconomic target setting has now become a joke and needs review

The time has come to start questioning this target setting business. Since 2009 these targets for financial stability have become a joke everywhere.

India to become fastest-growing economy in FY22: Amit Shah at Ficci event

Union Minister of Home Affairs and Cooperation Amit Shah said on Friday that India is likely to become the fastest growing economy in the world in the current financial year."We are reaching the pre-COVID levels. July to September GDP number has been at 8.4 per cent and I think in the year 2021-22, India is likely to become the fastest growing economy in the world. I will not be surprised if we touch double-digit growth," Shah said while addressing FICCI's Annual Convention & 94th Annual General Meeting.Shah said out of the 22 parameters of the economy, India has exceeded in 19 parameters, and this shows that the country has come out strong from the crisis. "Both manufacturing and service sector index has reached the pre-COVID levels. With the announcements of various packages and relief, our inflation is within the targeted range of 4-6 per cent as set by the government," he added.Highlighting the potential of the MSME sector, Shah said that till the time "we encourage and ...

BoE raises interest rate for first time in 3 yrs to tackle rising inflation

The Bank of England has raised the interest rate for the first time in more than three years amid surging inflation after cutting rate to record low during the Covid-19 pandemic.

Brazil sacks IMF office over estimate complaints, says 'not useful anymore'

Economy Minister Paulo Guedes said on Wednesday Brazil won't recognize the IMF's office starting from June 30, when the current representative is due to be replaced

Japan overstated GDP component data for years, inflating growth figures

The Japanese government overstated construction orders data received from the industry for years, PM sid, in a practice that may have had the effect of inflating the country's economic growth figures.

Centre was sensitive to fiscal deficit: Garg on CAG's bank recap concerns

Funds for these investments were raised by the government through the issue of non-transferable special securities to the same PSBs.

IFFCO ranks first among top 300 cooperatives in the world, retains position

The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked 'number one Cooperative' among the top 300 cooperatives in the world.

India's GDP likely to grow more than 9.5% in FY22: SBI research report

The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said.

OECD cuts global GDP forecast amid Covid-19 variant concerns

Global growth is set to hit 5.6% this year before moderating to 4.5% in 2022 and 3.2% in 2023, the Organisation for Economic Cooperation and Development said

Top headlines: Omicron variant scare; GDP passes pre-Covid level

Vaccine makers in India say they can scale up production to deal with new crises. More on that in our top headlines.

GDP grows 8.4% in Q2; demand, services drag down economic activities

GDP remained almost flat, barely managing to expand 0.3% over the pre-Covid period of Q2 FY20

S&P keeps India GDP growth forecast unchanged at 9.5% in FY22

S&P Global Ratings on Tuesday kept India's economic growth forecast in the fiscal year to March 2022 unchanged at 9.5 per cent but raised its predictions for the subsequent year on broadening out of the recovery. The Indian economy had shrunk by 7.3 per cent in 2020-21 fiscal (April 2020 to March 2021) as pandemic induced restrictions battered business activity. The gradual lifting of the restrictions has helped the economy to rebound from pandemic lows. "India is learning to live with the virus. Following the peak in COVID-19 cases around mid-year, the stringency index has declined, mobility has recovered, and consumer and business confidence has improved," S&P Global Ratings said in a report. Rising inflation is a pressure point, unlike elsewhere in emerging Asia. But external demand continues to support growth. Recent high-frequency indicators such as the October services purchasing managers' index reading of 58.4 suggest a strong recovery is underway. "We leave our growth .

GDP grows at 8.4% in Q2: India still fastest growing large economy in world

While India's economy still has to recover compared to the pre-Covid economic activities at a reasonable rate, the story around the world is no different