Page 6 - India Gdp

India to become $5 trillion economy early in Amrit Kaal: MoS Finance

India will become a USD 5 trillion economy early in the 'Amrit Kaal' on the path to achieve the goal of becoming an advanced economy by 2047, Minister of State for Finance Pankaj Chaudhary said on Monday. The International Monetary Fund (IMF) has projected India to become a USD 5 trillion economy with the third largest GDP in 2027-28. The USD 5 trillion milestone will be crossed with the help of a strong rupee which will result from macroeconomic stability, he said in a written reply in the Lok Sabha. "The government has set the goal of becoming an advanced economy by 2047. In the process, it will become a USD 5 trillion economy early in the Amrit Kaal," Chaudhary said. At the end of 2022-23, the Indian GDP stood at USD 3.7 trillion. In 1980-81, size of the Indian economy was USD 189 billion, which increased to USD 326 billion after a decade. In 2000-01, the size of the GDP rose to USD 476 billion. In 2010-11, India's GDP jumped to USD 1.71 trillion, and further increased to USD

Day after Q2 GDP data, economists raise India's FY24 growth forecast

However, analysts continue to exercise caution for the second half of the current fiscal year and FY25 as consumption remains a concern

Handle with care: India's latest GDP numbers flatter but don't deceive

Even if no statistical jugglery is afoot, the "noise" in India's GDP numbers should be eliminated in order to hear the underlying music without distortion, writes T N Ninan

India's GDP grew 7.6% in Jul-Sep quarter, higher than RBI MPC projection

At the Business Standard BFSI Summit last month, RBI Governor Shaktikanta Das said that the Q2 GDP figure is likely to surprise everyone on the upside

Q2FY24 GDP surprised on the upside

The real pressure point in today's GDP statistics is the "agriculture & allied activities" sector that has posted a growth of just 1.2 per cent (Y-o-Y) in Q2FY24, the lowest in the past 18 quarter

Q2 GDP: Investment growth at 5 qtr high, household consumption slows down

Rajani Sinha, Chief Economist, CARE Ratings, says that on the demand side, there was a sharp jump in investment, led by the Central and state governments, that helped pull up the GDP growth

India's GDP expected to grow by 6.5% in FY24, says finance ministry

Growth projections for Financial Year 2024 indicate that India will grow by 6.5 per cent. Growth prospects appear bright, though external factors pose a downside risk, the Finance Ministry said

Second quarter GDP numbers likely to be good: Eco Affairs Secretary

Indian economy is showing momentum and the growth rate in the second quarter (July-September) is likely to be good, Economic Affairs Secretary Ajay Seth said on Wednesday. The GDP numbers for the second quarter are scheduled to be released on Thursday. The economy grew at 7.8 per cent in the first quarter (April-June) of the current financial year. "India economy showed good momentum in the second quarter. The second quarter numbers should be good", Seth told reporters on the sidelines of a national workshop on 'Leveraging private finance for urban infrastructure developments -- Learnings from G20 Infrastructure Working Group'. He further said that the fiscal deficit target of 5.9 per cent for the current financial year was feasible despite additional outgo towards food subsidy. "We are confident of meeting fiscal deficit target this year despite the government raising food subsidy for the next five years," Seth said. The Budget 2023-24 proposes to bring down the fiscal deficit to

S&P Global, Morgan Stanley peg India's GDP growth at 6.4% in 2024

Those at Goldman Sachs, on the other hand, see the Indian economy growing a tad lower at 6.3 per cent in the year ahead.

S&P Global hikes India's FY24 GDP growth forecast by 40 bps to 6.4%

However, for FY25, the GDP growth projection has been slashed by 50 basis points (bps) to 6.4 per cent

GDP growth to dip slightly to 6.3% in 2024, LS polls key factor: Report

India's real GDP growth will decline marginally to 6.3 per cent in 2024 from the 6.4 per cent estimated for 2023, an American brokerage firm said on Monday. The next calendar year will be of two halves, wherein the government spending before the upcoming General Elections will be the key driver for growth, while after the elections, it will be the re-acceleration in investment growth, especially from the private sector, Goldman Sachs said in a report. From a fiscal year perspective, the brokerage said it expects growth to accelerate to 6.5 per cent for FY25 from the 6.2 per cent it has projected for the ongoing FY24, it added. "India has the best structural growth prospects in the region. We believe GDP growth is likely to stay robust at 6.3 per cent y-o-y (year-on-year) in 2024," the brokerage said, adding the country is less sensitive to potential external shocks like longer rates globally, persistent dollar strength and geopolitical uncertainties. The brokerage said risks around

Fitch upgrades India's mid-term GDP growth forecast to 6.2% from 5.5%

Fitch blamed China for pulling down the estimate of 10 emerging countries to 4 per cent from 4.3 per cent earlier

India to become world's third largest economy by 2027, says JP Morgan MD

JPMorgan's managing director of Asia Pacific equity research, James Sullivan, said that India's GDP will double to $7 trillion by 2030

India GDP: Cricket World Cup economic boost is threatened by taxes

An additional $2.6 billion spent on everything from ticket sales and TV rights to tourism and food delivery may lift India's GDP by as much as $1 billion, they say

Policy rate unchanged at 6.5%, FY24 inflation forecast retained at 5.4%

RBI policy: Shaktikanta Das said that real GDP forecast for 2023-24 has been retained at 6.5% by MPC

World Bank raises India's retail inflation forecast to 5.9% for FY24

Country remains one of the fastest-growing global economies but 'adverse global environment' a challenge, it says

WB ups India's FY24 inflation forecast to 5.9%, growth estimate unchanged

World Bank also said that it expects fiscal consolidation to continue in FY24, with the central government fiscal deficit projected to continue to decline from 6.4% to 5.9%

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India keen to increase manufacturing share in GDP to 25%: Hardeep Puri

He said that PM's clarion call for 'Make in India, Make for the World' at World Economic Forum this year was a signal that India is ready and keen to increase the share of manufacturing to 25% by 2025

India's external debt at $629.1 bn at Jun-end, debt-GDP ratio declines: RBI

India's external debt rose marginally to USD 629.1 billion at June-end 2023, although the debt-GDP ratio declined, according to a Reserve Bank data released on Thursday. The debt rose by about USD 4.7 billion from USD 624.3 billion at March-end. "The external debt to GDP ratio declined to 18.6 per cent at end-June 2023 from 18.8 per cent at end-March 2023," RBI said. Valuation effect due to the appreciation of the US dollar vis--vis the major currencies such as yen and SDR amounted to USD 3.1 billion. US dollar-denominated debt remained the largest component of India's external debt, with a share of 54.4 per cent at end-June 2023, followed by debt denominated in the Indian rupee (30.4 per cent), SDR (5.9 per cent), yen (5.7 per cent), and the euro (3.0 per cent). Excluding the valuation effect, external debt would have increased by USD 7.8 billion instead of USD 4.7 billion at end-June 2023 over end-March 2023, the central bank said. According to the data, at end-June 2023, long-