Page 2 - Gross Domestic Product

Budget 2023: Allocating 6% of GDP by 2030 a must, say education experts

From giving a boost to allocation for education to mental health of students and a push to edtech startups, here are the expectations of the experts for education sector from Union Budget 2023

Ministries flout local procurement rules in govt contracts, says DPIIT

Dept says tender terms favourable to foreign firms

PM Modi to hold pre-Budget meeting with economists, sectoral experts

Ahead of the Union Budget, Prime Minister Narendra Modi will meet economists and sectoral experts at NITI Aayog on Friday to discuss the state of the economy and measures to accelerate growth which is estimated to drop to 7 per cent, a senior government official said. The official further said that the meeting will also be attended by several Union ministers. Finance minister Nirmala Sitharaman will present the 2023-24 Budget in Parliament on February 1, 2023 Hit by weakening demand, the Indian economy is expected to grow at a slower rate of 7 per cent in the current fiscal ending March 2023, setting the stage for the country losing the fastest-growing major economy tag. The 7 per cent expansion projected in the first official estimate released by the statistics ministry compares with 8.7 per cent gross domestic product (GDP) growth in 2021-22. The projections are much lower than government's earlier forecast of 8-8.5 per cent growth but above the Reserve Bank's projection of 6.8

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

CAD widens to 4.4% of GDP in Q2 due to higher trade deficit: RBI data

The country's current account deficit widened to 4.4 per cent of the GDP in the quarter ended September, from 2.2 per cent GDP during the April-June period, due to higher trade gap, as per data released by the Reserve Bank on Thursday "India's current account balance recorded a deficit of USD 36.4 billion (4.4 per cent of GDP) in Q2:2022-23, up from USD 18.2 billion (2.2 per cent of GDP) in Q1:2022-23 and a deficit of US$ 9.7 billion (1.3 per cent of GDP) a year ago [i.e., Q2:2021-22]," the RBI said. Underlying the current account deficit in July-September 2022-23 was the widening of the merchandise trade deficit to USD 83.5 billion from USD 63 billion in first quarter of 2022-23 and an increase in net outgo under investment income. Services exports reported a growth of 30.2 per cent on a year-on-year (y-o-y) basis on the back of rising exports of software, business and travel services. Net services receipts increased both sequentially and on a yearly basis.

Slowdown year

Global and domestic factors will affect output

India to receive record remittances but experts worry CAD will still widen

Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year

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

The race to $1trillion economy among states: Who gets there first?

The bigger the state's economy, the better placed it is to reach that proverbial milestone

YouTube creators contributed Rs 10,000 cr to India's GDP in 2021: Study

Video sharing platform supported more than 750,000 full-time equivalent jobs in the country

CBDT seeks detailed report on the top 15 taxpayers in each region

Directive issued for maximising revenue collection and monitoring advance tax mop up

Falling P/E may cap returns in 2023: Credit Suisse's Neelkanth Mishra

Credit Suisse expects domestic earnings to grow 15 per cent over the next one year and market returns could be in line with that

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

Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget

This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26

Uttar Pradesh plans to buy 43,000 acres of land for Rs 7.3 trillion

According to estimates, the state requires about 6.4 million new housing units in the urban and suburban centres in the next five years to meet the target

India Inc's profit declines sharply to 3.48% of GDP in Q2 of FY23

Ratio for manufacturing firms at 9-quarter low of 0.93%

India's CAD likely to shoot up as net exports hit nine-year low

CAD in Q1 of 2013 was 4.9 per cent of GDP, while net exports stood at 5.93 per cent of GDP

Robust activity in services sector holds up 6.3% GDP growth in Q2

GDP grew 7.6 per cent in the September quarter of FY23 over the comparable period in FY20, which was before the pandemic

India seeks to shrink budget deficit by 50bps as global headwinds loom

What complicates matters for Sitharaman is that her food and energy bills are inflated by the war in Ukraine and given India runs a current-account deficit as well, the rupee has been weakening

India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran

'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'