Page 4 - India Gdp

Madhya Pradesh aims to contribute Rs 55,000 cr to India's GDP by 2026: CM

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Thursday said the state's contribution to India's economy will reach USD 550 billion by 2026 as the country is expected to become a USD 5-trillion economy. Chouhan said the state's gross domestic product (SGDP) is growing at 19.67 per cent this year and it has been attracting investments at a faster pace. "Prime Minister Narendra Modi has taken a pledge to make India a USD 5-trillion economy. It will be achieved when states do their part. So we will be contributing USD 550 billion to the country's economy by 2026. We have made a road map to accomplish this (target), and attracting investment is a part of this plan," Chouhan told reporters on the sidelines of an event here. At 'Investment opportunities in Madhya Pradesh' event hosted by industry body CII, the chief minister also urged the investors' community to invest in Madhya Pradesh. The event comes ahead of a two-day global investors' summit which is scheduled to be held in

Managing growth expectations

In a highly uncertain global economic environment, realistic growth projections would reduce risks

MSMEs hold the key to $5-trn economy

A proactive and cohesive approach by the government to support micro, small and medium enterprises could raise their contribution to GDP to about 50 per cent in the foreseeable future

Centre's fiscal deficit in H1 touches 37.3% of full-year target

The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23

India borrowed Rs 80 trillion during 8 yrs of Modi govt, alleges TRS

: The ruling TRS in Telangana on Saturday accused the BJP of 'pushing' the country into debt trap with borrowings of the central government allegedly touching 61.6 per cent of the GDP by 2021. Releasing his party's political charge-sheet against BJP, TRS Working President and Minister KT Rama Rao, along with party leaders accused the saffron party of leaving people in lurch with ever increasing petrol and diesel prices, among others. After the independence, during the 67 years of various Prime Ministers rule, the country borrowed Rs 55.87 crore. After coming to power in 2014, the borrowings by (Prime Minister Narendra Modi) Modi alone in these eight years was Rs 80 lakh crore, Rama Rao claimed. The interest payments by the Centre during 2014-15 was 36.1 per cent of the revenues while it has gone up to 43.7 per cent during 2021. Despite NITI Aayog's recommendation of Rs 19,000 crore funding for Mission Bhagiratha, a safe drinking water project for every village in the State, the .

Billionaire Gautam Adani's wealth up relative to India's GDP, shows data

He was the only one in the top-5 billionaire who did not see a wealth decline over the last year

13 states can incur capex worth Rs 7.4 trillion in FY23: ICRA report

Spending space available without pressure to their fiscal profile, says agency

Current account imbalance hits India harder than EM peers, shows data

India's current account deficit is projected at 3.5 per cent for 2022, says IMF World Economic Outlook report

A troubled world: IMF paints a bleak picture

The growth projection for India has been lowered to 6.8 per cent for this fiscal year

Nomura moderates India's FY24 GDP growth to 5.2%, says optimism misplaced

Japanese brokerage Nomura has projected a sharp moderation in India's growth rate for FY24 to 5.2 per cent as compared to FY23, saying Indian policymakers are misplaced about their optimism on the country's growth prospects. After a week-long meetings with policymakers, corporates, commercial banks and political experts, its economists said its FY23 GDP growth estimate is at 7 per cent at par with the RBI's revised down forecast but it expects a "sharp moderation" to 5.2 per cent in FY24. While we broadly agree with our interlocutors on the growth prospects in FY23, we believe the optimism in FY24 may be misplaced and that the spillover effects from the global slowdown are being underestimated, its economists Sonal Verma and Aurodeep Nandi said in a note. The RBI has hiked repo rate by 190 basis points since May to tame inflation and is expected to do more, especially amid faster rate tightening by the US Fed, which is bound to impact growth. The economy grew at 4 per cent in FY2

India will stand out with 7% growth rate in FY23 amid global gloom: Sanyal

Amid fears of the world slipping into recession, India will perhaps emerge as the strongest major economy with 7 per cent growth rate in FY23, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Sunday. Sanyal observed that India can grow at 9 per cent in an external conducive environment like in early 2000s when the global economy was growing. "We are clearly entering an environment where many countries around the world will be facing much slower growth or even slipping into recession. "This is due to a combination of factors ranging from tighter monetary policy to higher energy costs, as well as disruptions caused by the Ukraine war," he told PTI in an interview. The World Bank on October 6 projected 6.5 per cent growth rate for the Indian economy for 2022-23, a drop of one percentage point from its June 2022 projections, citing deteriorating international environment. "Under those circumstances, India's performance will stand out as being .

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI

Das says RBI won't make public the communication on failure of achieving target to govt

Current account deficit widens to 2.8% of GDP in Q1; trade deficit jumps

Services exports, remittances show firm momentum in Q1

Icra maintains 7.2% GDP forecast for FY23, sees pick-up in govt expenditure

Citing revival in contact-intensive services and a pick-up in government and private expenditure, rating agency Icra on Wednesday retained its previous growth forecast of 7.2 per cent for the current fiscal. Growth is expected to pick up to pre-Covid levels on the back of pent-up demand, even though on an annualised basis, the absolute numbers will be falling from Q1 (13.5 per cent) to a much lower level in Q2 and further down in the two remainder quarters due to the high base, the agency said. At 7.2 per cent, the number is marginally higher than most consensus forecast of 7 per cent and 10 bps lower than what S&P forecast earlier this week. The RBI is widely believed to again lower its growth forecast at its September 30 monetary policy review from the previous projection of 7.2 per cent. "We maintain our GDP forecast of 7.2 per cent for FY2023, aided by a revival in contact-intensive services owing to pent-up demand, and a back-ended pick-up in government and private capex. ...

Covid-19 behind, M&E sector navigates the future at Ficci Frames 2022

Back after a two-year hiatus, the summit deliberated on key issues plaguing the sector

Navigating the affordable housing finance market

The demand for affordable housing finance is very high, but housing finance companies have not disbursed loans up to their potential, owing to a lack of awareness among customers about such firms

Depreciating rupee not likely to cause fiscal slippage, say experts

Petroleum, fertiliser imports to become expensive, subsidy bill set to rise

ADB cuts FY23 GDP forecast for India to 7% citing sluggish global demand

Earlier forecast was 7.2%; institution says high inflation is another growth hurdle, cut FY24 forecast to 7.2% from 7.8%

India's GDP likely to grow 7.2-7.4% in FY23, says CEA Nageswaran

Global slowdown positive for India on balance, says CEA

CEA says India poised to grow at 7% this year and for rest of decade

Economic Survey had pegged FY23 GDP growth higher at 8-8.5%