India's potential GDP growth is in the range of 6.5-7 per cent and the country should be able to achieve it on the back of things that done already in the last 10 years, Chief Economic Advisor V Anantha Nageswaran said on Monday. The Economic Survey projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the preceding financial year. Addressing IVCA's GreenReturns Summit, he said, "India's potential GDP growth is in the range of 6.5-7 per cent and we should be able to achieve it on the back of things that we have done already in the last 10 yearswhether it is in terms of augmenting the physical infrastructure or achieving financial inclusion." Emphasising the investment areas, he said, "We all know about the issue of intermittency. The investment shouldn't focus on setting up solar power plants or wind energy plants as we need to take into consideration the increasing cost of recycling solar panel waste and wind turbine waste. That is an area
India's GDP recorded a 5.4% growth in the July-September quarter, its slowest in two years
Key metrics, such as goods and services tax (GST) collection, e-way bills, and toll revenues, increased in October
Derivative data also offers an interesting narrative, with foreign institutional investors (FIIs) starting the December series with 67 per cent short positions in index futures
He stressed that geopolitical conditions remained fragile and may continue to impact domestic inflation, supply chains, and capital flows
Bond yields fall 6 bps post GDP numbers
The GDP data for Q2 this year are a reflection of the vagaries of monsoons, as well as slower than expected consumption growth in urban areas
The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. This will be the first revision in over a decade. It was last done in 2011-12. Addressing an event here, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg further said the ministry will come up with monthly estimates of Periodic Labour Force Survey (PLFS) from January next year. "...next base year (GDP) will be 2022-23...will be implemented from February 2026," Garg said. The 26-member Advisory Committee on National Accounts Statistics (ACNAS), which was constituted under the Chairmanship of Biswanath Goldar, is expected to complete the exercise by early 2026. Regularly updating the base year is essential to ensure that indices accurately reflect changes in the economy's structure, such as shift in consumption pattern, sector weight and the incorporation of new ...
Our world rankings are, without question, a stunning achievement that calls for monumental pride
The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. The Commerce Department reported that growth in US gross domestic product the economy's output of goods and services slowed from the April-July rate of 3%. But the GDP report still showed that the American economy the world's largest is proving surprisingly durable. Growth has topped 2% for eight of the last nine quarters. Still, American voters exasperated by high prices were unimpressed by the steady growth and chose this month to return Donald Trump to the White House to overhaul the nation's economic policies. He will be supported by Republican majorities in the House and Senate. Consumer spending, which accounts for about 70% of US economic activity, accelerated to a 3.5%% annual pace last quarter, up from 2.8% in the April-June period and
Raises inflation projection for FY25 to 4.6%
The Indian currency has held its position as one of the least volatile among major currencies, and the forex reserves stand at about $675 billion-among the five largest in the world, the minister said
State also wants weightage increased for contribution to national GDP and urbanisation
During the June quarter of FY25, the economy grew 6.7 per cent
In the case of India, this transition of employment has been relatively slow: the share of agricultural employment is higher and has been slower to fall than in many emerging economies
The first GDP data release under the new schedule is set for November 29, covering the second quarter of FY25
Japanese brokerage Nomura on Monday said the Indian economy has entered a phase of "cyclical growth slowdown" and the Reserve Bank's estimate of 7.2 per cent GDP expansion is "overly optimistic". The brokerage said it sees "rising downside risks" to its GDP growth estimates of 6.7 per cent in the ongoing FY25 and 6.8 per cent in FY26. "We believe India's economy has entered a cyclical growth slowdown. Coincident and leading growth indicators point to a further moderation in GDP growth and the RBI's forecast of 7.2 per cent for FY25 is overly optimistic," the brokerage said in a note. The RBI maintained its FY25 growth estimate at 7.2 per cent earlier this month, even as some watchers have been coming out with lower numbers. Nomura said urban consumption indicators have been softening lately, and pointed to the slump in passenger vehicle sales, moderation in airline passenger traffic and FMCG companies flagging weak urban demand. "We believe this weakness in urban demand is likely
The Canadian government on Thursday set targets to lower admissions across all key immigrant groups starting in 2025
Karnataka has registered a robust GSDP growth of 10.2 per cent in 2023-24, the state government said on Monday. Citing a data from the Ministry of Statistics and Programme Implementation (MoSPI), the government said in a statement that the state has significantly surpassed the national average of 8.2 per cent. "Initially, the National Statistical Estimate (NSE) had projected a modest 4 per cent GSDP growth for Karnataka, but this was revised to 13.1 per cent by the end of the fiscal year, indicating early underestimation of the state's economic performance," the statement read. The government pointed out that this feat was achieved despite severe challenges, including the worst drought in a decade and a slowdown in global IT markets. The state's agriculture sector faced negative growth due to drought conditions, while Karnataka's dependence on the IT and hardware sectorsaccounting for 28 per cent of its Gross State Value Added (GSVA)made it vulnerable to global economic downturns,