GDP

Growth in services and manufacturing and private investment rebound likely to have helped economy in Q4

In which we munch over the week's platter of news and views

India's foreign trade is expected to cross the USD 1.6 trillion mark this fiscal despite global economic uncertainties, economic think tank GTRI said in a report. The Global Trade Research Initiative (GTRI) said the USD 1.6 trillion would be about 48 per cent of India's nominal GDP of USD 3.4 trillion for the fiscal year ending March 2023. The higher trade-to-GDP ratio also speaks of high trade openness which the country practices, GTRI co-founder Ajay Srivastava said. According to their analysis of the data by the think tank, the growth rate in the exports of services would be higher than that of goods. Higher growth rate in services exports compared to the outbound shipments of goods has improved overall performance of India's exports, he said. India's overall exports of goods and services during April-March 2023 are estimated to reach USD 755 billion, exhibiting a positive growth of 11.6 per cent over the same period last year (April-March 2022). The report said that India's

The last of a 5-part series points out that the Standing Committee on Defence report says India will not be able to absorb much more on defence

Savings and investment rates in the financial year (FY) 2021-22 were 30.2 per cent and 29.6 per cent, respectively

The interest burden on India's public finances will be even bigger if the RBI hikes rates further to tame inflation

It is not a central player today as the world deals with inflation and financial instability and countries hurtle towards debt crisis. It must be revamped and strengthened to play that role

The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah said Tuesday. Addressing the annual session of Assocham, Shah said, without the development of the country's infrastructure and reduction of logistics costs, development was not possible. The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally, he said. "We will have to remove the eight per cent and 13 per cent gap. We have formulated a framework for the next five years. I can assure you that we will reach 7.5 per cent logistics cost in the next five years," he said. Shah said the Narendra Modi government has made a plan of Rs 100 lakh crore investment in infrastructure with some mega projects such as the doubling of railway lines, their widening, dedicated freight corridors from Mumbai to Delhi and Amritsar to Kolkata besides 11 other ..

Barclays Plc expects the gap in current account - the broadest measure of trade in goods and services - to be 1.8% of gross domestic product in the year starting April 1

The median forecast of 22 economists polled March 16-23 showed a current account deficit of $23.0 billion in October-December 2022, or 2.7% of gross domestic product (GDP)

Only few states drawing companies' attention to set up projects

Indian economy is expected to grow at 7 per cent in FY23 despite global headwinds while retail inflation would moderate in line with wholesale inflation which fell to a 25-month low in January, the Finance Ministry said on Monday. Supported by the gains from high services exports, the moderation in oil prices, and the recent fall in import-intensive consumption demand, India's current account deficit is estimated to fall in FY23 and FY24, providing a buffer to the rupee in uncertain times, Monthly Economic Review by the ministry said. This will provide a much-needed cushion to India's external sector at a time when the Fed is likely to raise rates further and ensure that India's external finances are not a major cause of concern, it said. The jump in net service exports over the previous year is a critical development as India increases its market share in both IT and non-IT services, whose demand has been triggered by the pandemic, it said, adding, imports are also less costly now

TMS Ep392: Gopinathan's exit, angel tax, Jim Rogers, m-cap to GDP ratio

What does Gopinathan's exit mean for TCS? Is angel tax making India less attractive? What does Jim Rogers think of the global banking crisis? What is the m-cap to GDP ratio? All answers here

Amish Mehta discusses the factors behind this downgrade and road ahead for the Indian economy

CRISIL said that the risks to inflation are 'tilted upward' due to the predictions of El Nino over the next couple of months

India's economy is officially projected to reach Rs 272 trillion, or $3.58 trillion, this financial year

China's new Premier Li Qiang on Monday said achieving the five per cent GDP target for the slowing down economy is not an easy task and requires redoubled efforts but assured the country's tattered private sector better environment, broader space for development. Li Qiang, the long-term aide of Chinese President Xi Jinping who succeeded Li Keqiang, in his first press conference, drew on Chinese folklore to demonstrate the country's resilience in the face of difficulties but concedes the economy faces challenges. He acknowledged that achieving the 2023 gross domestic product (GDP) growth target of around five per cent for this year on the current high base of China's economic output is not an easy task and requires redoubled efforts. Playing down the importance of GDP, he said most people do not keep their eyes on GDP growth all the time. China, the world's second-largest economy, last year reported a three per cent GDP, the lowest in decades and the target of about five per cent se

Japan's economic growth in the October to December 2022 quarter was downgraded, owing to private consumption increasing less than previously thought, the government said in a report on Thursday

Pencilling in just 4 per cent GDP growth for the fourth quarter, a rating agency report has said the final growth numbers for the full year will be lower than the second advance estimate of 7 per cent. The economy grew at 13.2 per cent in the first quarter and 6.3 per cent in the second three-month period due to base effect and much lower than the consensus expectation of 4.4 per cent in the third quarter. To close the full fiscal with a 7 per cent growth, the GDP should deliver at least a 4.1 per cent uptick. India Ratings analyst Paras Jasrai in a report said the agency expects GDP to print in at around 4 per cent in Q4, which would mean GDP growth for FY23 could be lower than 7 per cent but did not quantify the same. The National Statistical Office, in its second advanced estimate, has retained GDP growth at 7 per cent for the full year, which factors in a growth of 5.1 per cent. However, the agency sees many downside risks to this estimate, such as the pent-up demand, which had

The country's economic slowdown late last year will be temporary and even salutary, helping to wring some of the demand-side pressures out of the economy without stopping it wholesale