Page 159 - Indian Economy

Private consumption, capital investment rises in Q1, govt consumption slows

The GDP numbers, Finance Secretary T V Somanathan said this trend was par for the course, as GFCF in Q1 was usually lower than the previous year's Q4.

Q1 GDP growth misses estimates despite low base; govt spending subdued

13.5% expansion in June QTR despite low base; GVA at basic prices up 12.7%

On-time payments can drive higher growth

Lacklustre trend growth calls for attention to the economy, with less distractions, diversions, and disruptions. Government can lead with payment on time

FM Sitharaman to review state of economy at FSDC meeting on Sep 15

Finance Minister Nirmala Sitharaman will review the state of the economy amid global and domestic challenges at a meeting of the Financial Stability and Development Council (FSDC), scheduled on September 15. The 26th meeting of the high-level panel to be held in Mumbai will be attended by all financial sectoral regulators, including RBI Governor Shaktikanta Das, sources said. The FSDC is the apex body of sectoral regulators, headed by the Union finance minister. The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs, according to the sources. The council would also discuss measures required for further development of the financial sector and to achieve inclusive economic growth with macroeconomic stability, they said. As per the RBI estimate, the country's GDP is expected to witness a growth of 7.2 per cent in the current financial year amid elevated retail inflation at 6.7 per cent.

India's Q1 GDP: Disappointing numbers

Lower than expected growth poses hard questions

India can generate $212 bn by investing in renewable energy: Report

About 3.4 million jobs can be created if ventures worth $350 billion is invested in initiatives dedicated to renewable energy and cleantech, said study

Economy likely to grow at 7%-7.4% in FY23, says Finance Secretary

Indian economy is on course for a 7-plus per cent growth rate in the current fiscal year, finance secretary T V Somanathan said on Wednesday. Commenting on the first quarter GDP growth rate of 13.5 per cent, he said the economy is 4 per cent above pre-Covid levels. Allaying concerns of high imports denting the fiscal architecture, he said the government was on course to meet fiscal deficit target of 6.4 per cent of GDP in current fiscal ending March 31, 2023. Economic Affairs Secretary Ajay Seth said GST collection for August is likely to remain in the range of Rs 1.42-1.43 lakh crore, in signs of buoyancy in economy. Also, gross fixed capital formation grows 34.7 per cent during April-June, highest in 10 years, he said.

On course to achieve fiscal deficit target: Finance Secretary Somanathan

Finance Secretary TV Somanathan on Wednesday exuded confidence that the fiscal deficit target of 6.4 per cent of GDP in 2022-23 will be met without pruning capital expenditure. The Union Budget has pegged the fiscal deficit at Rs 16.61 lakh crore or 6.4 per cent of the gross domestic product (GDP) for the financial year ending March 2023. "We are on course to achieve our fiscal deficit target and it is not because of a slowdown in capital expenditure," said Somanathan, who is also expenditure secretary. He further said the government will focus on capital expenditure and try to control revenue expenditure to the extent possible. "We have some large revenue contingencies, which are going to come in here in terms of fertiliser subsidies and food subsidies. So, the fact that revenue expenditure has been growing slightly less than proportionately to that is not a bad thing. It's a good thing," he added. The capital expenditure was Rs 1.75 lakh crore during the first quarter of 2022-23

Core sector output slows down to 4.5% in July against 9.9% a year ago

The output of eight core infrastructure sectors slowed down to 4.5 per cent in July -- the lowest in six months -- against 9.9 per cent in the year-ago period, according to official data released on Wednesday. The output of these infrastructure sectors expanded by 13.2 per cent in June, 19.3 per cent in May, 9.5 per cent in April, 4.8 per cent in March, 5.9 per cent in February and 4 per cent in January. The production growth of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 11.5 per cent in April-July this fiscal against 21.4 per cent a year ago. Crude oil and natural gas production contracted by 3.8 per cent and 0.3 per cent, respectively, during the month under review.

India's Q1FY23 GDP grows 13.5%, fastest in a year: Govt data

India's GDP growth in Q1FY22 was 20.1%

June quarter's household consumption, capital investment rise, shows data

Government consumption falls in April-June quarter; inflation and supply chain disruption impacts corporate balance sheets

Top headlines: Q1 GDP grows 13.5%; fiscal deficit at 20.5% of FY23 target

India's economy achieved its fastest annual expansion in a year in the April-June quarter, according to NSO data

India's April-July fiscal deficit at Rs 3.41 trn, 20.5% of FY23 target

Net tax receipts stood at Rs 6.66 trn while total expenditure was Rs 11.26 trn, shows govt data

News updates: AAP MLAs to meet CBI chief, seek probe into 'Operation Lotus'

From India's GDP data for the April-June quarter to Covid-19 updates, catch all the latest news here

Top headlines: Economy grows at fastest pace, Tata Sons amends AoA and more

With this, Tata Sons and Tata Trusts, which own 66 per cent of the group, must have separate chairmen

India's economy probably grew at its fastest pace in a year in June qtr

Gross domestic product (GDP) in the three months to June 30 was probably 15.2% higher than a year earlier, a Reuters poll showed this week

Obituary: Abhijit Sen - A great economist with rural, agriculture focus

He was an excellent analytical economist and his is a great loss to the profession of economics vis-a-vis research and policy, writes S Mahendra Dev

State of the Indian economy: Unequal, uneven distribution of wealth

The income gap between states is growing and the pain of inflation is worse for those falling behind

Net zero is net positive for profits, people, and planet

Pursuing green technologies will result in much faster GDP growth

Rupee marks biggest gain in one year on strong foreign inflows

August also marked the first month this year when overseas investors turned net buyers of India's government debt