Page 16 - Gross Domestic Product

Icra forecasts 12-13% growth in Q1FY23, sticks to 7.2% GDP for full fiscal

Citing the second highest business activity index reading in 13 months in April, rating agency Icra on Tuesday forecast the economy to grow 12-13 per cent in the first quarter of the current fiscal. However, Icra has maintained its annual GDP projection at 7.2 per cent for this fiscal citing worries over inflation and the resultant RBI tightening. "Our business activity monitor for April at 115.7 indicates that activity was roughly 16 per cent higher than the year ago (period) and pre-COVID levels in spite of the global headwinds," Icra Chief Economist Aditi Nayar told PTI. This high growth may persist in May, especially on an annualised basis, which should translate into a double-digit GDP expansion in Q1 at 12-13 per cent. However, this may not sustain and the annual growth in volume and activity may moderate, she said. According to her, higher input costs may dampen GVA growth to single-digits. "Therefore, we maintain our GDP growth forecast at 7.2 per cent for FY23". Citing .

India's GDP may grow 7.4-8.2% in FY23, says CII president Sanjiv Bajaj

Bajaj said that to counter inflationary pressures, the central and state governments should cut taxes on petrol and diesel further

FY23 GDP forecasts by various agencies realistic: CEA Anantha Nageswaran

Range between RBI's 7.2% and IMF's 8.2% a reasonable prediction, says CEA

Portugal registers 2.6 % GDP growth in Q1 amid rise in private consumption

The GDP also grew by 11.9 per cent compared to the same period last year, Xinhua news agency quoted the country's national institute of statistics (INE) as saying

Pakistan govt's gross debt to be 71.3% of GDP in 2022: IMF projection

The report has projected government expenditure at 18.4 per cent of the GDP in 2022 and 17.1 per cent in 2023 compared to 18.6 per cent in 2021

Current account deficit could cross 5% in 2022 if crude hits $150/barrel

India's CAD expanded to 2.7 per cent of GDP in the December quarter from 1.3 per cent in September quarter on account of higher import bill

Challenges ahead for new govts in UP, Punjab, Uttarakhand, Goa and Manipur

The incoming govts will have to work on creating more job opportunities to bring these states' unemployment rates close to the national average, besides containing inflation and meeting poll promises

South Korea's GDP growth at 11-year high in 2021 as exports boom

Bank of Korea data on Tuesday showed GDP expanded 4.0% in 2021, as demand for exports soared

India Ratings sees FY23 GDP growth at 7.6% on sustained govt spending

The ratings agency said it estimates investments, as measured by gross fixed capital formation (GFCF), to grow 8.7 per cent YoY in FY23

The shovel returns

Housing down-cycle shaved more than 1 per cent from growth annually for nearly a decade; it is turning now

RBI leaves key rates on hold amid Omicron risks; analysts weigh in

The committee held the lending rate, or the repo rate , at 4%. The reverse repo rate, or the key borrowing rate, was also maintained at 3.35%

RBI leaves rates unchanged, says economy better prepared to deal with Covid

Central bank maintains FY22 GDP forecast at 9.5 per cent and projected retail inflation to be at 5.3 per cent.

Fitch cuts India GDP forecast for FY22 to 8.4% in Nov from 8.7% in Oct

However, Fitch raised GDP growth projection for the next financial year to 10.3 per cent

Afghanistan's GDP is likely to drop 20% within a year, says UNDP

Afghanistan's gross domestic product likely will drop from $20 billion to $16 billion within a year, a 20% plunge, the UN Development Programme has projected

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

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

India's GDP passes pre-Covid level, but by a tad; France still 0.4% below

The structure of each country's GDP was different, with different components driving up growth, even before the pandemic

Two years lost

Private consumption continues to remain weak

GDP growth to accelerate further to 9.8% in FY23: Goldman Sachs

The GDP is widely expected to grow at a faster pace due to the base effect in 2021-22

India's GDP to rise by $406 bn by 2050 in net-zero scenario: Report

India's GDP will rise by USD 406 billion by 2050 and more than 43 million jobs will be created, as the Asia's third-largest economy leaps towards a net-zero target, according to a report