Page 6 - Gross Domestic Product

India's current account deficit narrows to 0.2% of GDP in Q4 FY23

Net services receipts increased, both sequentially and on a year-on-year (YoY) basis, on the back of a rise in net earnings from computer services

Is India creating an economy productive enough to pay for a welfare system?

With manufacturing, merchandise exports and employment all lagging despite govt efforts, politicians have re-discovered the old idea of fiscal transfers through subsidies and payouts, writes T N Ninan

Shadows on sweet spot: Manufacturing grew the least among sectors in FY23

Some might conclude that manufacturing cannot be a leading sector without subsidies on inputs and cash pay-outs given for agri. But will such a manufacturing sector be viable, wonders T N Ninan

GDP growth at 6.1% in Q4, 7.2% in full FY23; construction, agri surprise

For FY23, the Indian economy clocked a growth rate of 7.2%. In the previous financial year (FY22), India had seen 9.1% GDP growth

Govt's fiscal deficit narrows to 6.4% of GDP for FY23, meets target

The fiscal deficit for the last financial year narrowed to 6.4% from a year earlier. It also met the budget gap target, aided by buoyant tax receipts and some fiscal headroom from lower payments

Direct tax buoyancy again falls sub-2% in 2022-23

It should be noted that direct tax collection figures are still provisional and GDP figures are on the basis of second advance estimates for 2022-23. The actual figures may change the outcome slightly

Why climate change makes GDP unsuitable for measuring economic churn

GDP does not capture issues like welfare, inequality and human development. Nor does GDP capture the damage to the environment caused by economic activity, writes T N Ninan

IMF sees India's combined debt-to-GDP ratio rising for 4 yrs starting FY24

In its latest Fiscal Monitor report, IMF said India's combined debt-to-GDP ratio will rise a tad to 83.2% in FY24 and will hit a high of 83.8% in FY27 before it starts to moderate

IMF slashes Pakistan's growth rate to 0.5% for FY23 amid high inflation

The IMF has lowered its forecast for Pakistan's economic growth rate from 2 per cent to just 0.5 per cent for the current fiscal year, amid high inflation and a growing unemployment rate in the cash-strapped country. This showed an unambiguous deterioration of economic fundamentals over the last six months since October when the IMF forecast the country's gross domestic product to grow by 3.5 per cent against 6 per cent for 2022 ago and inflation at 20 per cent against 12.1 per cent. The revision in Pakistan's growth prospects is in line with similar 0.4 per cent and 0.6 per cent projected last week by the World Bank and the Asian Development Bank, respectively. They also projected inflation at 29.5 per cent and 27.5 per cent respectively for the current year, the Dawn newspaper reported on Wednesday. In its flagship World Economic Outlook (WEO), the IMF has also estimated the unemployment rate in Pakistan to rise to 7 per cent against 6.2 per cent last year. For fiscal 2024, ...

No change: MPC presses 'pause' after hiking rate by 250 bps since May 2022

RBI governor makes it clear that if required, MPC could hike rates in future meetings

India's GDP growth to slow down to 6.3 per cent in FY24: World Bank

The latest India Development Update, released Tuesday, notes that rising borrowing costs and slower income growth are expected to weigh on private consumption growth

ADB slashes India GDP growth forecast to 6.4% for FY24, cites risks

Private consumption will be the main driver of growth, says international agency

India's current account deficit declines to 2.2% of GDP in Q3FY23

Underlying the lower CAD in Q3FY23 was the narrowing of merchandise trade deficit to $72.7 bn from $78.3 billion in Q2FY23, coupled with robust services and private transfer receipts, RBI said

Inflation-growth dynamics may enhance dilemma of monetary policy committee

Many believe that the committee may go for another 25 basis point hike in repo at the April policy

External situation worsens as India aims to grow 6-6.8% in FY24

India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown

Q3 GDP numbers: Taking a look at some high-frequency indicators

The govt contends that Q3 GDP will be revised upwards. Many experts believe rural economic growth is still slow. Data shows both could be right

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

Manufacturing output shrinks for second straight quarter

GDP growth rate likely at 4.6% in December quarter: SBI economists

Economists at the State Bank of India (SBI) have projected a GDP growth of 4.6 per cent for the December quarter, citing that as many as 30 high frequency indicators are not as robust as they were in the previous quarters. However, the projection is higher than the Reserve Bank of India's forecast of 4.4 per cent for the third quarter of this fiscal. The lower forecast also stems from poor corporate results, ex-BFSI, which have shown that operating profits grew at a much slower 9 per cent in the third quarter, which is just half of 18 per cent recorded in the year-ago period. Also, despite a 15 per cent in net sales, the bottom line was down by around 16 per cent, Soumya Kanti Ghosh, the group chief economic adviser at SBI, said in a report on Tuesday. Ghosh said he expects an upward revision in growth to 7 per cent for the full fiscal, up from 6.8 per cent projected earlier. This is because the government is anticipated to revise the GDP numbers for FY20, FY21 and FY22 on Februar

India's GDP growth in FY23 expected to be 7%, FY24 at 6%: Acuite Ratings

Credit rating agency Acuite Ratings and Research on Monday reiterated India's gross domestic product (GDP) growth estimate for FY23 at 7 per cent