Page 5 - Gdp

India's GDP growth estimates may be revised by one percentage point

The average variation in growth may be as high as a percentage point over the last six years

Indian GDP pegged to grow at 7% in FY23: NSO's advance estimates

The output of the manufacturing sector is estimated to decelerate to 1.6 per cent as against a growth of 9.9 per cent in FY22

Russia's ongoing war plunges Ukraine's GDP to record 30.4% in 2022

The country's GDP is expected to rise 3.2 per cent this year, according to the government's projection

Citigroup cuts India's current account deficit forecast to below 3% of GDP

Net exports of services rose 35% to $34.5 billion in the second quarter of the current fiscal

In 2047, India's GDP will be approaching close to $20 trn: Bibek Debroy

He said that basic necessities have been provided to the people and more so in the rural areas by the government

Dec manufacturing PMI at 26-month high of 57.8 as production picks up

Growth in new orders and output enable factories to end 2022 on a strong note: Survey

Corporate tax collection to GDP ratio exceeds 3% after two years in FY'22

Corporate tax collections exceeded 3 per cent of the GDP after a gap of two years in 2021-22, reflecting overall improvement in profitability of India Inc propelled by increase in demand for goods and services. However, the corporate tax collection is yet to surpass its five-year high of 3.51 per cent of GDP recorded in 2018-19. In actual terms, the net corporate tax collection in 2021-22 stood at Rs 7.12 lakh crore. The Gross Domestic Product (GDP) at current market price was Rs 236.64 lakh crore. The percentage of net corporate tax to GDP worked out to be 3.01 per cent. An analysis of five-year data of corporate tax collection as a percentage of GDP showed that the ratio was the highest in 2018-19. The net corporate tax collection stood at Rs 6.63 lakh crore or 3.51 per cent of GDP. The mop up and ratio slipped to 2.77 per cent of GDP in 2019-20 on account of reduction in corporate tax rate. In the biggest reduction in 28 years, the government cut corporate tax rates for new ...

India's current account deficit in July-Sept rises sharply to 4.4% of GDP

Balance of Payments position sees depletion of $30.4 billion, says central bank

Group financially strong, India GDP to add $1 trn every 12-18 months: Adani

Adani group is rapidly diversifying beyond ports and coal-based businesses into green energy, airports, cement, media, data centers and metals

After massive mandate, Gujarat's BJP-led govt eyes $1 tn economy by 2030

According to the state budget its Gross State Domestic Product is estimated to be Rs 22,03,062 crore by the end of the current financial year

IMF calls for 'more ambitious' fiscal consolidation by India, cites risks

But govt asserts public debt is sustainable

Pakistan's central bank slashes GDP growth forecast to below 3-4%

Pakistan's central bank has lowered its projected GDP growth estimates for the cash-strapped country from the previously announced range of 3-4 per cent for the current fiscal year, citing flood-induced destruction and the stabilisation policy. The State Bank of Pakistan's (SBP) flagship economic health report released on Wednesday said economic growth was stronger than expected in the 2021-22 fiscal year as the real GDP increased by 6 per cent compared to 5.7 per cent a year ago. The primary drivers of this growth were a broad-based expansion in large-scale manufacturing (LSM) and improved agricultural output, the Dawn newspaper said, quoting the report. The primary drivers of this growth were a broad-based expansion in LSM and improved agricultural output, the report said. A combination of adverse global and domestic developments led to the re-emergence of macroeconomic imbalances during FY22, it said. The SBP said that the economy was already in a stabilisation phase when ...

India GDP grew by 9.7% in H1FY23, says Finance Ministry

The Ministry said it could not present the Medium Term Expenditure Framework in Parliament, as mandated by the Fiscal Responsibility and Budget Management Act

India all set to achieve $5 trillion economy target by FY25: Nitin Gadkari

India is the fastest growing major economy in the world and is all set to achieve USD 5 trillion GDP by 2024-25, Union Minister Nitin Gadkari said on Friday. Addressing an event organised by industry body FICCI, Gadkari said the central government is aiming to boost growth and employment to achieve sustainable development. The road transport and highways minister said India will play a key role in achieving global Sustainable Development Goals (SDGs) 2030. Gadkari noted that India needs to increase its exports and reduce imports. "We are also working on developing alternative, clean and green fuel like bio ethanol, bio-CNG, bio-LNG and green hydrogen," he said, adding green hydrogen is the fuel for the future. The minister said currently India's automobile industry is worth Rs 7.5 lakh crore and he wants to take it to Rs 15 lakh crore."This will create lots of new jobs." He also said his focus is on reducing cost of construction. "We are trying to minimise use of steel and cement

Indian households outdo emerging market peers on cutting debt levels

Only one among BRIC countries to have cut leverage to levels to pre-pandemic levels

Sri Lanka's economic woes continue, data shows GDP contracted 11.8% in Q3

Sri Lankan authorities say the island-nation's estimated GDP contracted by 11.8 per cent year-on-year in the third quarter of 2022

Enhance budget for PLI scheme and widen its coverage: Assocham

The government's PLI scheme, introduced in 2021, had an outlay of around Rs 2 trillion for 13 sectors

India's CAD in July-Sept qtr likely shot up on widening trade gap: Report

The median forecast of 18 economists in a Dec. 5-14 Reuters poll was for a $35.5 billion current account deficit in the July-September quarter, or 4.3% of GDP, the most in nearly a decade

On track to meet FY23 fiscal deficit target, inflation within RBI band: FM

'We'll bring inflation down further for the sake of common people', said FM Nirmala Sitharaman

ADB keeps India's GDP growth unchanged at 7% for current financial year

Asian Development Bank (ADB) has kept its outlook for India's economic growth unchanged at 7 per cent for the current fiscal year while forecasting a weaker-than-previously expected pace for developing Asia. ADB's 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent. The Manila-based ADB in a report on Wednesday saw Asia expanding 4.2 per cent this year before accelerating to 4.6 per cent in 2023. These projections compare to the previously estimated expansion of 4.3 per cent and 4.9 per cent, respectively. "Despite recent global headwinds, the Indian economy is expected to grow by 7.0 per cent, as projected in the Update, supported by a strong domestic base. "While some recent high-frequency indicators are more favourable than expected -- notably consumer confidence, electricity supply and purchasing ...