Gross Domestic Product

RBI governor makes it clear that if required, MPC could hike rates in future meetings

The latest India Development Update, released Tuesday, notes that rising borrowing costs and slower income growth are expected to weigh on private consumption growth

Private consumption will be the main driver of growth, says international agency

Underlying the lower CAD in Q3FY23 was the narrowing of merchandise trade deficit to $72.7 bn from $78.3 billion in Q2FY23, coupled with robust services and private transfer receipts, RBI said

Many believe that the committee may go for another 25 basis point hike in repo at the April policy

India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown

The govt contends that Q3 GDP will be revised upwards. Many experts believe rural economic growth is still slow. Data shows both could be right

The 2022-23 Economic Survey, Nageswaran's first as CEA, projected 6.5 per cent as baseline growth for FY24, within a range of 6-6.8 per cent

Manufacturing output shrinks for second straight quarter

Economists at the State Bank of India (SBI) have projected a GDP growth of 4.6 per cent for the December quarter, citing that as many as 30 high frequency indicators are not as robust as they were in the previous quarters. However, the projection is higher than the Reserve Bank of India's forecast of 4.4 per cent for the third quarter of this fiscal. The lower forecast also stems from poor corporate results, ex-BFSI, which have shown that operating profits grew at a much slower 9 per cent in the third quarter, which is just half of 18 per cent recorded in the year-ago period. Also, despite a 15 per cent in net sales, the bottom line was down by around 16 per cent, Soumya Kanti Ghosh, the group chief economic adviser at SBI, said in a report on Tuesday. Ghosh said he expects an upward revision in growth to 7 per cent for the full fiscal, up from 6.8 per cent projected earlier. This is because the government is anticipated to revise the GDP numbers for FY20, FY21 and FY22 on Februar

Credit rating agency Acuite Ratings and Research on Monday reiterated India's gross domestic product (GDP) growth estimate for FY23 at 7 per cent

The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world. "In our view, the instrument of decoupling will be the Union Budget by raising India's growth prospects over the period 2023-27; and raising India's potential growth," said the article 'State of the Economy' published in the RBI's February 2023 Bulletin. It further said the Union Budget's tax, capex and fiscal consolidation proposals can take India's real GDP growth close to 7 per cent in 2023-24 if they are effectively implemented. "The Union Budget 2023-24's emphasis on capital expenditure is expected to crowd-in ..

Earlier, the Budget for FY24 had projected nominal GDP growth at 10.5 per cent, as the centre increased the capital investment outlay steeply for the third year in a row by 33 per cent to Rs 10 trn

CAD may be better than expected in FY23, but India won't be completely out of the woods next year, says official

Centre's fiscal deficit is projected to come down to 5.9% of GDP next financial year from 6.4% in the current financial year

The target of 5.9% is also likely to be met next year, finally bringing it down to below 4.5% of GDP in the financial year 2025-26

It is typical of markets to rally ahead of the budget proposals and see some profit taking once the measures are announced. This time, however, the Adani group stocks played spoilsport

Canada's real gross domestic product (GDP) grew 3.8 per cent in 2022, the national statistical agency announced

It added that India is third-largest economy in the world in PPP (purchasing power parity) terms and fifth largest in terms of exchange rate

This is the last full budget before the 2024 Lok Sabha elections, and will be tabled amidst a global slowdown and unprecedented geopolitical uncertainty