India GDP
India's GDP contraction narrows down in FY21: First Revised Estimates
"Real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at Rs 135.58 lakh crore and Rs 145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20," the National Statistical Office (NSO) said. As per the estimates, real GVA at constant (2011-12) basic prices contracted by 4.8 per cent in 2020-21, as against growth of 3.8 per cent in 2019-20.The earlier projection had pegged the GVA at (-) 6.2 per cent.
Need to spend $1.4 tn on infra for $5 tn GDP by 2024-25: Eco Survey
According to it, during FYs 2008-17, India invested about $1.1 trillion on infrastructure. "However, the challenge is to step up infrastructure investment substantially. "Keeping this objective in view, National Infrastructure Pipeline (NIP) was launched with projected infrastructure investment of around Rs 111 lakh crore ($1.5 trillion) during FY 2020-2025 to provide world-class infrastructure across the country, and improve the quality of life for all citizens," the Survey, tabled in Parliament on Monday, said.
RBI to take up repo rate hikes from April with a cumulative rise of 150bps in FY23
Morgan Stanley said in a report the focus will be on raising additional resources through strategic divestment and asset monetisation. Indeed, the overall focus of the government should be to utilise all revenue levers effectively (tax compliance to improve tax to GDP, strategic asset sales) to sustainably improve the health of the public sector balance sheet.
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.
Growth Curve: India's FY22 GDP expected to grow at 9.2%
In 2020-21, India's economy had contracted by 7.3 per cent. On Friday, the First Advance Estimates of National Income for financial year 2021-22, estimated 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, the 'Provisional Estimate of GDP' for the year 2020-21.
India's Nov retail inflation sequentially inches up to 4.91%
As per the data, CPI inflation jumped to three-months high of 4.9 per cent which was led by higher core inflation. Data furnished by the National Statistical Office showed that Consumer Price Index (CPI) inched up to 4.91 per cent last month from 4.48 per cent in October 2021. However, on YoY basis, the rise in last month's retail inflation was lower than the 6.93 per cent rise recorded for November 2020.
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.
Fiscal Push: India's Q2FY22 GDP growth seen between 7-9%
Besides, rise in service activities amid further improvement in mobility and increased government spending will support the trend, industry watchers said. Economy watchers contend that accelerated vaccination drive along with easing of Covid restrictions has brightened consumers' sentiments. The expected rise in agricultural output on the back of a healthy rainy season during the July-September period should boost the GDP growth to anywhere between 7 per cent and 9 per cent.
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