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India Gdp

India needs to ramp up structural reforms: World Bank Chief Economist Gill

Gill noted that middle-income countries, including India, are more prone to slowdowns compared to low-income or high-income countries

India needs to ramp up structural reforms: World Bank Chief Economist Gill
Updated On : 13 Dec 2024 | 12:05 AM IST

Markets Today: CPI, IIP data; US CPI; Nasdaq at 20K; Vishal Mega Mart IPO

As the markets prepare to open, the mood is upbeat. At 6:34 AM, the GIFT Nifty futures are trading 28 points higher at 24,762 levels, hinting at a positive start

Markets Today: CPI, IIP data; US CPI; Nasdaq at 20K; Vishal Mega Mart IPO
Updated On : 12 Dec 2024 | 7:26 AM IST

ADB cuts India FY25 GDP growth forecast to 6.5%, 7% in FY26 on weak demand

The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand. The multilateral development bank has also lowered India's growth forecast for 2025-26 financial year. Changes in US trade, fiscal, and immigration policies could dent growth and add to inflation in developing Asia and the Pacific, according to the latest edition of Asian Development Outlook (ADO). The report also said Asia and the Pacific's economies are projected to grow 4.9 per cent in 2024, slightly below ADB's September forecast of 5 per cent. "India's outlook is adjusted downward from 7 per cent to 6.5 per cent for this year, and from 7.2 per cent to 7 per cent next year, due to lower-than-expected growth in private investment and housing demand," ADB said. Last week, the Reserve Bank also significantly lowered the growth project

ADB cuts India FY25 GDP growth forecast to 6.5%, 7% in FY26 on weak demand
Updated On : 11 Dec 2024 | 2:17 PM IST

A call for transparency: Why India must not let its GDP data turn Chinese

India's GDP data faces growing scrutiny over transparency and reliability. To regain trust and ensure accuracy, a reform in statistical methods is critical to avoid pitfalls seen in China's approach

A call for transparency: Why India must not let its GDP data turn Chinese
Updated On : 10 Dec 2024 | 12:52 PM IST

RBI Governor Das meets FM Sitharaman ahead of former's term coming to end

The meeting took place at the finance minister's North Block office. Sources said that the meeting lasted around 20 minutes and was considered customary following the MPC meeting

RBI Governor Das meets FM Sitharaman ahead of former's term coming to end
Updated On : 09 Dec 2024 | 6:12 PM IST

CII urges govt to stick to fiscal deficit target of 4.9% of GDP for 2024-25

Industry body CII has suggested the government to stick to the fiscal deficit target of 4.9 per cent of GDP for 2024-25 and 4.5 per cent for 2025-26, cautioning that "overly aggressive targets" beyond these could adversely affect India's economic growth. "India has been growing rapidly amidst a slowing global economy. Prudent fiscal management for macroeconomic stability has been pivotal to this growth," said Chandrajit Banerjee, Director General, CII, elaborating on suggestions for the forthcoming Union Budget. CII also highlighted the announcement in the Union Budget 2024-25 to keep the fiscal deficit at levels that help reduce the debt-to-GDP ratio. In preparation for this, the forthcoming budget could lay out a glide path to bring the central government's debt to below 50 per cent of GDP in the medium term (by 2030-31), and below 40 per cent of GDP in the long term, CII has suggested. Such an explicit target will have a positive impact on India's sovereign credit rating and ...

CII urges govt to stick to fiscal deficit target of 4.9% of GDP for 2024-25
Updated On : 08 Dec 2024 | 1:58 PM IST

Hurt in Covid-19, MSMEs recover slowly as initiatives for them continue

Share of credit outstanding to MSMEs by scheduled commercial banks as a percentage of outstanding non-food credit is tepid

Hurt in Covid-19, MSMEs recover slowly as initiatives for them continue
Updated On : 06 Dec 2024 | 12:00 PM IST

Low GDP growth: Don't throw baby out with the bathwater, urges CEA

Speaking at Assocham's Bharat@100 Summit, CEA V Anantha Nageswaran emphasised that India's underlying growth story remains intact despite dismal Q2 GDP figures

Low GDP growth: Don't throw baby out with the bathwater, urges CEA
Updated On : 05 Dec 2024 | 2:21 PM IST

Options traders' bearish bets on rupee jump 200% on surprise GDP slowdown

Data from the Depository Trust and Clearing Corp. show the volume of dollar-rupee calls trading climbed to $1.9 billion on Monday in the non-deliverable options market

Options traders' bearish bets on rupee jump 200% on surprise GDP slowdown
Updated On : 03 Dec 2024 | 2:37 PM IST

Speculation over RBI Guv Shaktikanta Das' extension grows after GDP miss

Das himself has largely refrained from discussing his own future, telling Bloomberg a few months ago that he's focused on his work at the RBI

Speculation over RBI Guv Shaktikanta Das' extension grows after GDP miss
Updated On : 03 Dec 2024 | 1:34 PM IST

Base year for GDP calculation to be changed to FY23: Govt tells Parliament

Government informed Parliament that an advisory committee on national accounts statistics has been formed to identify new data sources and advise on the methodology for the revised series

Base year for GDP calculation to be changed to FY23: Govt tells Parliament
Updated On : 02 Dec 2024 | 5:25 PM IST

GDP growth likely bottomed out; inflation to prevent December RBI rate cut

The CPI inflation for Q3 FY2025 is expected to overshoot the MPC's estimate of 4.8 per cent for the quarter by at least 60-70 bps

GDP growth likely bottomed out; inflation to prevent December RBI rate cut
Updated On : 02 Dec 2024 | 4:01 PM IST

Markets Today: GDP; Nov Mfg PMI; Dow & S&P 500 at record; FIIs; auto sales

The preceding week ended on a positive note for equity benchmarks. On Friday, the BSE Sensex surged 0.96 per cent to close at 79,802.79, while Nifty also gained 0.91 per cent to settle at 24,131.10

Markets Today: GDP; Nov Mfg PMI; Dow & S&P 500 at record; FIIs; auto sales
Updated On : 02 Dec 2024 | 7:47 AM IST

Women-centric welfare schemes account for 0.5% of India's GDP in FY25

The credit for the largest allocation in the budget for the cash transfer to women goes to Maharashtra, which has earmarked $5.4 billion, accounting for 1.1 per cent of the state's GDP

Women-centric welfare schemes account for 0.5% of India's GDP in FY25
Updated On : 30 Nov 2024 | 2:36 PM IST

Fiscal deficit at 46.5% of full-year target at Oct-end, shows govt data

The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24. In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 per cent of gross domestic product (GDP) in the current 2024-25 financial year. The deficit was 5.6 per cent of the GDP in 2023-24. In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal. The revenue-expenditure data of the Union government for the first seven months of 2024-25 showed that the net tax revenue was about Rs 13 lakh crore or 50.5 per

Fiscal deficit at 46.5% of full-year target at Oct-end, shows govt data
Updated On : 29 Nov 2024 | 4:41 PM IST

Sluggish demand likely weighed on India's GDP growth in Sept quarter: Poll

Passenger vehicle sales recorded their first decline in 10 quarters and sales of two-wheelers experienced a sharp slowdown

Sluggish demand likely weighed on India's GDP growth in Sept quarter: Poll
Updated On : 26 Nov 2024 | 9:40 AM IST

Impacting growth, liquidity management: Shifting sands of fiscal policy

There is a very high chance that the actual fiscal deficit target will undershoot even 4.9 per cent of GDP as there was a decline in government expenditure during the general elections

Impacting growth, liquidity management: Shifting sands of fiscal policy
Updated On : 23 Nov 2024 | 11:54 AM IST

GDP growth likely to slip to 6.5%, FY25 growth estimate at 7%: ICRA

Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal. The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand. The RBI is sticking to its estimate of 7.2 per cent growth for the fiscal, but a majority of watchers expect it to be under the 7 per cent figure and many have been revising down in the last few weeks. Official data for the Q2 economic activity is expected to be published on November 30. In Q1, the GDP expansion had come at 6.7 per cent. Icra said the dip in Q2 will be due to factors like heavy rains and weak corporate margins. "While government spending and kharif sowing have shown ..

GDP growth likely to slip to 6.5%, FY25 growth estimate at 7%: ICRA
Updated On : 20 Nov 2024 | 1:50 PM IST

Market sets exchange rate, RBI acts to curb undue volatility: Governor Das

Important to note that the exchange is a barometer of the economy's strength, Governor Shaktikanta Das says

Market sets exchange rate, RBI acts to curb undue volatility: Governor Das
Updated On : 14 Nov 2024 | 7:20 PM IST

India's middle class tightens its belt as inflation reaches 14-month high

Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing

India's middle class tightens its belt as inflation reaches 14-month high
Updated On : 13 Nov 2024 | 11:31 AM IST