Page 2 - Gdp

Difference between investment rate in nominal and real terms widening

The difference between the real and nominal GFCF rates was five percentage points. The difference stood at over 5% in the previous two quarters of the current financial year

Recent earthquake caused damage worth $5.1 billion in Syria: World Bank

The World Bank said on Friday that Syria sustained an estimated USD 5.1 billion in damages in last month's massive earthquake that struck southeast Turkey and northern parts of the war-torn country. The quake killed at least 50,000 people, including about 6,000 in Syria, according to the United Nations. Tens of thousands are still missing and hundreds of thousands were left homeless. In a report released on Friday, the World Bank says the level of the damage in Syria is about 10 per cent of the country's gross domestic product. Syria's northern province of Aleppo was the most severely hit region, accounting for 45 per cent of the total damages in Syria and amounting to about USD 2.3 billion in damages. Also badly hit was the rebel-held region in the northwest, home to some 4.6 million people, many of them previously displaced by Syria's war. Aleppo was followed by the northwestern province of Idlib, with estimated damages of USD 1.9 billion and Latakia, government-controlled territ

Services PMI at 12-yr high of 59.4 in Feb on strong demand, easing prices

Strong demand, easing price pressures amid mild job creation drive index

It's not 'K': CEA Nageswaran says urban recovery faster than rural

The CEA said there was still pent-up demand in the system, as in the past three years, India had been growing below potential

Corporate sector can cut emission intensity of GDP by further 5.6% in 2030

The Bureau of Energy Efficiency will administer India's carbon trading framework, which is getting ready for its rollout

Manufacturing PMI at a 4-month low of 55.3 in Feb as input costs rise

The survey noted that the February data pointed to a consecutive twenty-month rise in manufacturing production

Union minister urges mining sector to contribute 2.5% in GDP by 2026-27

Union minister Pralhad Joshi on Wednesday urged all stakeholders from the mining industry to take the sector's contribution to GDP to 2.5 per cent by 2026-27 and said that the government will come up with investor-and industry-friendly norms. Joshi, who holds the portfolios of Parliamentary affairs, coal and mines, was speaking at the 75th foundation day of the Nagpur-based Indian Bureau of Mines, a multi-disciplinary government organisation. The minister said many sectors in India are transforming and the country's mining businesses can achieve the target of a 2.5 per cent contribution to the country's Gross Domestic Product (GDP) by 2026-27. Addressing entrepreneurs and representatives of the mining sector, Joshi said the Indian Bureau of Mines, government and private mining entities should work towards this goal. Joshi said the government has brought in many changes in the sector and would be introducing more investor-and industry-friendly norms in future, most probably in the .

Q3 GDP growth seems tepid only due to revisions made in earlier years: CEA

Comparing a data point that has been revised 3-4 times with another that is still called 'advanced estimate' isn't a cases if apples-to-apples but of apples-to-oranges, says V Anantha Nageswaran

Q3 GDP numbers: Pent-up household demand fizzles out, shows data

Govt capex carries capital formation

Q3 GDP numbers: Risks outweigh upside potential of FY24 growth, says CEA

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

India's Q3 GDP numbers: Testing growth guardrails

One minus is that aggregate private sector capex participation will lag, barring few sectoral pockets

India's GDP growth slows to 4.4% in Q3; manufacturing woes remain

Manufacturing output shrinks for second straight quarter

CEA Nageswaran says 7% growth forecast for current fiscal 'very realistic'

Chief Economic Advisor V Anantha Nageswaran on Tuesday said high frequency data indicate buoyant economic growth momentum and the 7 per cent GDP growth estimate for the current fiscal is very realistic. He also said that there are enough signs that manufacturing is in good health. "Inflation is softening and the pass through from wholesale prices has run its course we do have some uncertainty related to monsoon because of El Nino activity we need to be ready with both supply side and monetary policy measures in the course of the next financial year," Nageswaran told reporters. According to him, the GDP growth forecast of 6.5 per cent for the next fiscal is well within the range of forecast by other agencies like OECD and ADB but there are downside risks. "We need to be prepared for tighter financial conditions globally, weather-related uncertainties and geopolitical factors. 2023-24 may not see a big ticker shock as we saw in early months of 2022-23 as the war broke out in 2022 bu

The growth challenge

Higher growth next year would require policy work

India GDP growth slows down to 4.4% in Q3; FY23 estimate retained at 7%

In the first Advance Estimates released in January too, MoSPI had estimated GDP growth in FY23 at 7 per cent

Digital economy can contribute 25% GDP, reach $7 trn by FY29: K V Kamath

Noted banker KV Kamath, who now chairs the National Bank for Financing Infrastructure and Development (NaBFID), expects the digital sector to contribute a quarter of the incremental GDP by the time the economy becomes a USD 7 trillion giant by FY29. Currently, the contribution of the digital economy is a low 4 per cent, whereas it is as much as 40 per cent in China. The government and planners see the economy becoming the third largest in the world by FY29, overtaking Japan, with a GDP of USD 7 trillion from the present USD 3.3 trillion. The digital economy -- the digital infrastructure, e-commerce and other digital payments and services segments--can be the country's biggest growth-driver and can contribute as much as 25 per cent of the incremental GDP by the time India becomes a USD 7-trillion economy by FY29. Currently, the share is a low 4 per cent, Kamath told PTI in an interaction over the weekend. "As much as 40 per cent of the Chinese economy come from the digital sector

US GDP revised lower on weaker consumer spending in fourth quarter

Inflation-adjusted gross domestic product (GDP) increased at a 2.7 per cent annualised rate during the period, Commerce Department data showed

G20 leaders to gauge toll on global economy on Ukraine war's anniversary

U.S. Treasury Secretary Janet Yellen on Thursday highlighted the improvement, saying the global economy "is in a better place today than many predicted just a few months ago"

Indian workers with digital skills contributing $508 bn to country's GDP

Workers in India, who use advanced digital skills like cloud architecture or software development, are contributing an estimated $507.9 billion (Rs 10.9 trillion) to the country's annual GDP

Budget and the growth process

The government's command over household savings needs to be reduced for stimulating demand and private credit