Budget 2024: Nominal GDP growth seen at 10.50 per cent, FY24 fiscal deficit revised down
Budget | February 01, 2024 12:33 ISTThe fiscal deficit target for the financial year 2024-2025 has been set at 5.10 per cent of GDP.
The fiscal deficit target for the financial year 2024-2025 has been set at 5.10 per cent of GDP.
India was the 10th largest economy with a GDP of USD 1.9 trillion a decade ago, but now it stands as the 5th largest at USD 3.7 trillion.
The IMF noted that there are potential risks to prices, primarily from food security concerns. Recent export restrictions in India, the world's largest rice exporter, and uncertain effects of El Nino are contributing to the upward tilt in risks.
The report attributes this resilience to robust domestic demand, substantial public infrastructure investments, and a strengthening financial sector.
Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
Nageswaran said that the "heartening achievement for the government and economy" of 7.2% GDP growth when he spoke at this event hosted by the Bharat Chamber of Commerce.
Shaktikanta Das stated that the retail inflation data for this month, which are scheduled to be released on June 12, "could possibly be lower."
Union Budget 2023: The government said the budget is fiscal prudence, stimulating growth and employment generation centric, while the Opposition called it disappointing with no promise to address inflation and other issues.
Mine sector output: Observing that the states are the ones that would implement on the ground whatever policies and laws are made at the Centre, Coal minister Pralhad Joshi said the conclave has been organised in line with the central government's philosophy of 'Sabka Saath, Sabka Vishwaas'.
In the first quarter of FY 22, the economy grew 20.1 per cent. For the fiscal 2022, RBI has estimated real GDP growth to be at 9.5 per cent -- 7.9 per cent in Q2, 6.8 per cent in Q3 and 6.1 per cent in Q4.
India is expected to post strong economic growth in the coming quarters, even as inflation, led by food prices, is likely to remain elevated, S&P Global Ratings said on Wednesday.
The data released by th Ministry of Statistics on Tuesday showed that the country's GDP has recovered swiftly to clock a growth of 20.1 pc in the Apr-June quarter of FY22 as against a contraction of 24.4 pc seen in the same period of previous year.
China’s economy, which was the first to be hit by the coronavirus pandemic and early to recover from its impact, grew 2.3 per cent in 2020, registering the lowest annual growth rate in 45 years.
After the Budget 2021-22 announcement on Monday, Economic Affairs Secretary Tarun Bajaj had said that real GDP growth would be 10-10.5 per cent in the next fiscal.
Reserve Bank of India (RBI) Governor Shaktikanta Das briefed mediapersons on Aug 06.
The Indian economy grew at 3.1 percent in the January-March quarter (Q4) of 2020, official gross domestic product (GDP) data released on Friday showed. For the full FY20 financial year, the number came to an 11-year-low of 4.2 percent against 6.1 percent in 2018-2019.
RBI Governor Shaktikanta Das in a presser amid lockdown situation in the country due to the outbreak of coronavirus which has impacted businesses at large said that they are expecting normalcy to return in the second half of the year.
India's GDP is likely to range between a decline of 0.9 per cent and a growth of 1.5 per cent in the current financial year, with the economy undergoing a "turbulent" phase caused by the coronavirus-induced lockdown, according to a report.
The ongoing 21-day lockdown across the country has directly and predictably impacted the electricity demand across the country, worsening an already bad situation
Overseas investors invested only Rs 6,554 crore in Indian markets on a net basis in February, as they adopted a cautious stance amid coronavirus scare, subdued economic data, and disappointing corporate earnings.
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