GDP
Worsening of debt sustainability indicators to 2002 levels may drive fiscal conservatism
We see greater chances of moderating fiscal support from both the Centre and the states. GoI's spending in the proportion of Budget estimates is already restrained to levels that were last seen during the peaks of the economic boom in FY07-08, the report said.
Real GDP to grow at around 9.5% in FY22: SBI Ecowrap
The report comes a day after the National Statistical Office (NSO) released the First Advance Estimates of National Income for financial year 2021-22. Accordingly, the estimates had said that India's economy is expected to clock a growth of 9.2 per cent in terms of real GDP for FY22. The NSO data had indicated that Real GDP' or 'GDP at Constant Prices' (2011-12) in the year 2021-22 rose to Rs 147.54 lakh crore from Rs 135.13 lakh crore.
Spread of Omicron to reduce GDP growth by 10 basis points in FY22: Ind-Ra
The rising cases have led to various curbs instituted by state governments such as reduced capacity of markets, night and weekend curfews to check human mobility. As per Ind-Ra's estimates, GDP growth in Q4FY22 will now come in at 5.7 per cent year-on-year (YoY) which is 40 basis points lower than the agency's earlier estimate of 6.1 per cent. "For the entire FY22, the GDP is expected to clock a growth rate of 9.3 per cent YoY, 10 bp lower than our earlier estimate of 9.4 per cent," the agency said.
MoUs worth Rs 18,900 Cr inked at J&K Real Estate Summit
A total of Rs 18,900 crore worth Memorandums of Understanding (MoU) and investment proposals were signed on Monday at the ongoing first ever real estate summit held in the Union Territory of Jammu & Kashmir.
India's current account deficit in Q2FY22 seen at 1.3% of GDP: Ind-Ra
A relatively stable services trade surplus is expected to cushion the deficit. "A stable services trade surplus of $24 billion would help rein in the current account deficit at $10.1 billion in 2QFY22. The current account was in surplus of $6.5 billion in Q1FY22," the rating agency said.
Higher fiscal spending, consumption recovery lift India's Q2FY22 GDP above 8%
Besides, pent-up demand, higher exports along with a rise in service activity amid further improvement in mobility supported the uptrend. The accelerated vaccination drive also played a role in this YoY rise as it brightened consumer sentiments. On a YoY basis, India's GDP growth rate had fallen by 7.4 per cent during the corresponding period of the previous fiscal. On a sequential basis, the GDP growth rate during Q2FY22 was lower than the rise of 20.1 per cent recorded for Q1FY22.
India's GDP expected to grow by 8.5% YoY in Q2FY22: Acuite
As per the ratings agency, gradual removal of lockdown restrictions by most states towards the end of the last quarter will also help the GDP to grow. Besides, it predicted a GVA growth of 7.5 per cent on YoY basis in Q2FY22. According to the agency, the steady progress in vaccination has improved consumer sentiments. Furthermore, the economy has been supported by relative resilience of the industrial sector and a gradual rebound in services sector with improved mobility, buoyancy in exports, and improved government capital expenditure.
India's Oct exports rise over 42%, imports over 62%
Exports in October 2020 had stood at $24.92 billion. According to data furnished by the Ministry of Commerce and Industry, in comparison to October 2019, last month's exports rose by 35.21 per cent. As per the data, India's merchandise imports last month increased by 62.49 per cent to $55.37 billion over $34.07 billion in October 2020.
GDP contribution of domestic electronics component manufacturing to double soon
IESA is the key industry body representing the Electronics Systems Design and Manufacturing (ESDM) and intelligent electronics industry in India. Through its deep connection with its member companies, IESA aims to grow the ESDM and electronics business segment in India while making India the preferred destination for electronics and semiconductor design and manufacturing.
ICRA revises India's FY22 real GDP forecast upwards to 9%
The agency credited the upward revision in the GDP to the brightening prospects for H2FY22 which is expected to benefit from the rapid ramp-up in Covid-19 vaccine administration, healthy advance estimates of kharif output and easing of cash management measures related to the Central government's spending.
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