India's gross domestic product (GDP) grew at 13.5% in the April-June quarter of the FY 2022-23, revealed data released by the National Statistical Office (NSO) on August 31. The NSO data mentioned the real GDP in Q1 2022-23 is estimated to attain a level of Rs 36.85 lakh crore as against Rs 32.46 lakh crore in Q1 2021-22, but missed the estimate of the Reserve Bank of India.
Courtesy: India Today
Union Minister Piyush Goyal on March 3, said that India's share in global trade is currently 10%, and the share of exports in country’s Gross Domestic Product (GDP) should be raised to 25%. While addressing on 'Make in India for the World' closing session, Goyal said, "Today our countries are also talking of programs very similar to Aatma Nirbhar Bharat." Goyal called for supporting MSMEs and strengthening India's manufacturing ecosystem. … read-more
India's Gross Domestic Product (GDP) for Q3 of current FY, slowed down to 5.4%, compared to 8.5% in Q2. GDP prices in Q3 of Current FY stands at Rs 36.26 lakh crore, compared to Q3 of FY 2020-21 which stood at Rs. 38.22 lakh crore, reported National Statistical Office (NSO), on February 28. Furthermore, the NSO also estimated a growth rate of 19.4% in nominal GDP for the year 2021-22.
Union FM Nirmala Sitharaman, on January 31, presented the economic survey for fiscal year 2022 to 2023. As per the survey, GDP is expected to be projected at 8-8.5 % for the fiscal year 2022-23. The survey also highlighted growth in various sectors, to accelerate GDP. Moreover, FM Sitharaman will present Union Budget on February 1.
Courtesy: The Free Press Journal
The International Monetary Fund (IMF) has projected India's economic growth at 9.5% in the financial year 2021-22 and 8.5% for the next financial year, making India the fastest-growing large economy in the world. However, China's GDP growth has been projected at 8% and 5.9% in FY22 and FY23, respectively. The IMF has also forecasted the world economy growth at 5.9% in FY22 and 4.9% in FY23.
Courtesy: Business Standard
The GDP data for April-June 2021 released by the National Statistical Office on August 31 revealed that the Indian economy reported a growth of 20.1% compared with the last quarter of 2020. The data shows that the 'Agriculture and electricity sectors registered a growth rate of 8.21% and 3%, respectively. However, economists say the growth was reported because of a lower base as last year GDP contracted 24.4% in Q1.
Courtesy: The Indian Express
The Indian economy reportedly grew at the rate of around 19-20% in the first quarter of 2021 and the GDP for FY21 may grow at 7.9-9.6%. Besides, the Reserve Bank of India (RBI) also suggested the growth for the first quarter at 21.4% and to remain at 9.5% for the whole year. However, the real picture of the GDP growth will be shown on August 31.
Courtesy: The Economic Times
As per an Oxfam International report, women in 202 have lost income to the tune of about $800 billion due to the pandemic. Shockingly, the amount is equivalent to the cumulative GDP of 98 countries. While Oxfam international's executive director Gabriela Bucher raised concerns about widening income gap, Women's Economic Empowerment's associate director Maria Bolis insisted on having gender sensitive policies. Notably, around 64 million women… read-more
According to Commerce Ministry data, gold imports during 2020-21 increased by 22.58% to $34.6 billion (around Rs 2.54 lakh crore) in India. While the surge was attributed to the increased domestic demand, silver imports decreased by 71%. Moreover, the trade deficit decreased by $98.56 billion and gems and jewellery exports decreased by 27.5%. Reportedly, the demand of gold will further increase due to Akshaya Tritiya and marriage season ahead… read-more
Courtesy: Financial Express
Recovering from COVID-19 led recession, the Indian economy posted a 0.4% growth in the Q3 FY2020-21. Reportedly, India became one of the few economies that posted a post-COVID growth in the final quarter of 2020. While India's growth slid to -23% in the June quarter, it regained gradually to -7.5% in the September quarter. Amidst the major eight core sectors showing a slight recovery in 2021, the RBI estimated a 10.5% growth for FY2021-22.… read-more