Page 11 - India Gdp

Centre says likely to achieve fiscal deficit target of 5.9% of GDP in FY24

India's fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was 8.04 trillion Indian rupees ($96.86 billion), or 45% of the estimate for the whole year

To become 3rd largest economy, Indians must remain healthy: VP Dhankhar

India will become the world's third largest economy in the next four-five years leaving behind Germany and Japan, but to achieve that the citizens of the country must remain healthy, Vice President Jagdeep Dhankhar said on Sunday. Addressing the inaugural function of the two-day 'Atal Swasthya Mela' here, Dhankhar also fondly remembered former prime minister Atal Bihari Vajpayee, saying he remained firm on principles and handled sensitive issues with care. Talking about the country's progress, Dhankhar said India's economy has overtaken those of Canada, France and the UK. "Today, we are the fifth superpower in the world in terms of economy. In the coming four-five years, Japan and Germany will also be behind us, and India is going to be the third largest (economic) superpower in the world!" he said. "For all this, it is necessary that we remain healthy. No matter how much talent, ability and skill you have, if you are not healthy you will not be able to do anything," he said. He s

India's logistics cost 7.8-8.9% of GDP in FY22, shows govt survey

The World Bank has also reviewed the methodology and has acknowledged it has an appropriate baseline and framework to fine-tune it in the future, government officials said on Thursday

India's GDP growth may slow down to 6.5% in FY25: Axis Bank report

Mishra also said that the Reserve Bank is unlikely to cut its repo rate through the calendar year 2024 due to volatile food inflation

Digital economy to contribute 20% of GDP by 2026: Rajeev Chandrasekhar

Union minister Rajeev Chandrasekhar on Thursday said that the digital economy will contribute 20 per cent of India's gross domestic product (GDP) by 2026. The Union minister of state for electronics and information technology, skill development and entrepreneurship was speaking at the inaugural function of Startup Conclave 2023', organised by the Gujarat government at helipad ground in the state capital. In 2014, the digital economy was around 4.5 per cent of the GDP and today it is 11 per cent. By 2026, digital economy will account for 20 per cent or one-fifth of the Indian GDP, he said. According to Chandrasekhar, targets and ambitions set by Prime Minister Narendra Modi when he launched the Digital India' programme in 2015 have transformed qualitatively as well as quantitatively our economy, our innovation ecosystem and our position as a nation in the world. India's position has transformed from being the consumer of technology for nearly three decades to being the producer of .

TMS Ep580: Q2 GDP numbers, Chennai calamity, RBI MPC, trading hours

What does a deeper dive into Q2 GDP numbers reveal? Could the Chennai calamity have been avoided? How will the RBI monetary policy impact markets? What are trading hours? All answers here

India's economy to grow at 6.8% in FY24, accelerate to 7% in FY25: CII

Industry chamber CII expects the country's economy to grow at 6.8 per cent in the current fiscal and accelerate to 7 per cent in 2024-25, driven by the government's continued focus on infrastructure development and promotion of ease of doing business. In an interview with PTI, CII President R Dinesh, who is also the Executive Vice Chairman of TVS Supply Chain Solutions, said even on a conservative basis, the expected gross domestic product (GDP) growth of 6.8 per cent will be more than the 6.5-6.7 per cent estimated earlier by the industry body. Sharing growth projections, the CII President said: "In the beginning, we had said 6.5-6.7 per cent. Now, actually, we are saying it is going to be 6.8 per cent for this year, and we are looking at 7 per cent for next year. Obviously, the first half has given the comfort for 6.8 per cent. In fact, I would say it is a conservative number because if you look at what has happened in the first half, we are being conservative here". On the recent

India set to become third-largest economy by 2030: S&P Global Ratings

S&P said that India will be the fastest-growing emerging market in the world, but its paramount test will be whether the country can become the next big global manufacturing hub

India to become $5 trillion economy early in Amrit Kaal: MoS Finance

India will become a USD 5 trillion economy early in the 'Amrit Kaal' on the path to achieve the goal of becoming an advanced economy by 2047, Minister of State for Finance Pankaj Chaudhary said on Monday. The International Monetary Fund (IMF) has projected India to become a USD 5 trillion economy with the third largest GDP in 2027-28. The USD 5 trillion milestone will be crossed with the help of a strong rupee which will result from macroeconomic stability, he said in a written reply in the Lok Sabha. "The government has set the goal of becoming an advanced economy by 2047. In the process, it will become a USD 5 trillion economy early in the Amrit Kaal," Chaudhary said. At the end of 2022-23, the Indian GDP stood at USD 3.7 trillion. In 1980-81, size of the Indian economy was USD 189 billion, which increased to USD 326 billion after a decade. In 2000-01, the size of the GDP rose to USD 476 billion. In 2010-11, India's GDP jumped to USD 1.71 trillion, and further increased to USD

Day after Q2 GDP data, economists raise India's FY24 growth forecast

However, analysts continue to exercise caution for the second half of the current fiscal year and FY25 as consumption remains a concern

Handle with care: India's latest GDP numbers flatter but don't deceive

Even if no statistical jugglery is afoot, the "noise" in India's GDP numbers should be eliminated in order to hear the underlying music without distortion, writes T N Ninan

India's GDP grew 7.6% in Jul-Sep quarter, higher than RBI MPC projection

At the Business Standard BFSI Summit last month, RBI Governor Shaktikanta Das said that the Q2 GDP figure is likely to surprise everyone on the upside

Q2FY24 GDP surprised on the upside

The real pressure point in today's GDP statistics is the "agriculture & allied activities" sector that has posted a growth of just 1.2 per cent (Y-o-Y) in Q2FY24, the lowest in the past 18 quarter

Q2 GDP: Investment growth at 5 qtr high, household consumption slows down

Rajani Sinha, Chief Economist, CARE Ratings, says that on the demand side, there was a sharp jump in investment, led by the Central and state governments, that helped pull up the GDP growth

India's GDP expected to grow by 6.5% in FY24, says finance ministry

Growth projections for Financial Year 2024 indicate that India will grow by 6.5 per cent. Growth prospects appear bright, though external factors pose a downside risk, the Finance Ministry said

Second quarter GDP numbers likely to be good: Eco Affairs Secretary

Indian economy is showing momentum and the growth rate in the second quarter (July-September) is likely to be good, Economic Affairs Secretary Ajay Seth said on Wednesday. The GDP numbers for the second quarter are scheduled to be released on Thursday. The economy grew at 7.8 per cent in the first quarter (April-June) of the current financial year. "India economy showed good momentum in the second quarter. The second quarter numbers should be good", Seth told reporters on the sidelines of a national workshop on 'Leveraging private finance for urban infrastructure developments -- Learnings from G20 Infrastructure Working Group'. He further said that the fiscal deficit target of 5.9 per cent for the current financial year was feasible despite additional outgo towards food subsidy. "We are confident of meeting fiscal deficit target this year despite the government raising food subsidy for the next five years," Seth said. The Budget 2023-24 proposes to bring down the fiscal deficit to

S&P Global, Morgan Stanley peg India's GDP growth at 6.4% in 2024

Those at Goldman Sachs, on the other hand, see the Indian economy growing a tad lower at 6.3 per cent in the year ahead.

S&P Global hikes India's FY24 GDP growth forecast by 40 bps to 6.4%

However, for FY25, the GDP growth projection has been slashed by 50 basis points (bps) to 6.4 per cent

GDP growth to dip slightly to 6.3% in 2024, LS polls key factor: Report

India's real GDP growth will decline marginally to 6.3 per cent in 2024 from the 6.4 per cent estimated for 2023, an American brokerage firm said on Monday. The next calendar year will be of two halves, wherein the government spending before the upcoming General Elections will be the key driver for growth, while after the elections, it will be the re-acceleration in investment growth, especially from the private sector, Goldman Sachs said in a report. From a fiscal year perspective, the brokerage said it expects growth to accelerate to 6.5 per cent for FY25 from the 6.2 per cent it has projected for the ongoing FY24, it added. "India has the best structural growth prospects in the region. We believe GDP growth is likely to stay robust at 6.3 per cent y-o-y (year-on-year) in 2024," the brokerage said, adding the country is less sensitive to potential external shocks like longer rates globally, persistent dollar strength and geopolitical uncertainties. The brokerage said risks around

Fitch upgrades India's mid-term GDP growth forecast to 6.2% from 5.5%

Fitch blamed China for pulling down the estimate of 10 emerging countries to 4 per cent from 4.3 per cent earlier