Page 7 - India Gdp

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

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

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

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

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

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

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 ..

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

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 to release GDP data 90 minutes earlier at 4 pm, to align with markets

The first GDP data release under the new schedule is set for November 29, covering the second quarter of FY25

Market Today: HUL Q2, Gold at record, IMF on India, Waaree IPO last day

On October 22, foreign institutional investors continued their selling spree, offloading shares worth Rs 3,978.61 crore, while domestic institutional investors bought shares totaling Rs 5,869.06 crore

Direct tax-GDP ratio hits 24-year high of 6.64% in FY24, shows data

Direct tax mopup rises 18%, outpacing economic growth; buoyancy at 2.12

How MoSPI is tackling methodological concerns via GDP base year revision

MoSPI's move to revise the GDP base year aims to improve accuracy, address past controversies, and align with updated economic realities, while consulting experts on new datasets and methodologies

India likely to clock 7% growth in FY25 despite headwinds: Deloitte

India continues to be a bright spot in an otherwise gloomy global outlook and the country could clock a 7 per cent growth in the current fiscal despite the headwinds, Deloitte South Asia CEO Romal Shetty has said. Shetty, who is the youngest chief executive of a Big Four accounting and consultancy firm in India, said inflation is reasonably under control, there has been a pick-up in rural demand and vehicle sales are improving. "We believe that we would be in the 7-7.1 per cent range in terms of the growth (this fiscal year). You have got the headwinds, the tailwinds... But the fact is, still India is in a better position, in spite of whatever is happening globally but we can't say we're decoupled from the world," he said, adding that the geopolitical crisis in the Middle East and Ukraine and the slowdown in the western world will impact GDP growth. According to Deloitte projections, growth is likely to be 6.7 per cent in the next fiscal year (2025-26). The Indian economy grew 8.2 p

India to become third-largest economy by 2030-31, says S&P Global

The country is forecast to grow at an annual rate of 6.7 per cent

Auto industry hits Rs 20 trn in FY24; contributes 14-15% to total GST: Siam

The Indian automotive industry has crossed Rs 20 lakh crore mark in FY24 and now contributes 14-15 per cent of the total GST collected in the country, SIAM President Vinod Aggarwal said on Monday. The auto sector also contributes significantly to the direct and indirect employment generation in the country, he said while speaking at the 64th annual ACMA session here. "The Indian automotive industry has crossed a landmark figure of Rs 20 lakh crore (around USD 240 million) in FY24...we are contributing almost 14-15 per cent of the total GST collected in the country," Aggarwal said. The auto industry will contribute more and more to the GDP of the country from the current level of around 6.8 per cent, he noted. It is not just the growth numbers, but equally important is the transformation in the technology, he added. Aggarwal stated that globally also the standing Indian auto industry has risen. "We have become the third largest passenger vehicle market, the largest two and three

GDP to expand 7.2% in FY25 despite lower Q1 growth, says RBI Guv Das

Das said agriculture should perform better during the rest of the year due to a good monsoon and aid a further pick-up in rural demand

India needs faster growth for a decade to meet goals: RBI Dy Guv Patra

It's possible for India's per capita income to climb to levels required to be considered a high income or developed country, Patra said

World Bank follows IMF. Revises India's FY25 GDP growth forecast to 7%

The International Monetary Fund had earlier also raised India's growth forecast to 7 per cent for the financial year 2024-25 (FY25), following the conclusion of general elections in the country

Nomura lowers its FY25 economic growth forecast for India to 6.7%

Goldman Sachs and J.P.Morgan maintained their FY25 GDP forecast for Asia's third-largest economy at 6.5 per cent