India's GDP grew 8.4 per cent in the September-end quarter. It had registered a 20.1 per cent growth in the previous quarter, this financial year.
The economist pointed out that in the fiscal year 2020-21, the deficit of all levels of governments is estimated to be 14 per cent of GDP and the same is estimated to be around 10 per cent of GDP in 2021-22.
Moody's said the recent spike in vaccinations, lower interest rates and increased public spending helped reinforce a positive outlook for the country's corporate sector.
Fitch forecast growth of around 7 per cent between FY24 (fiscal ending March 2024) and FY26 (fiscal ending March 2026), supported by the government's reform agenda.
India is targeting to increase its low-carbon power capacity to 500 gigawatts (GW) by 2030, and meet 50 per cent of its energy requirements from renewable energy by 2030.
India recently achieved a major milestone in its vaccination programme against COVID-19 as the cumulative vaccine doses administered in the country surpassed the 100-crore mark.
Formalisation of the Indian economy has been a stated aim of the Narendra Modi government. And a SBI Research report released Friday, holds up the report card.
Moody's expects India's economy to continue to recover in the next 12-18 months, with GDP growing 9.3 per cent in the fiscal year ending March 2022 and 7.9 per cent in the following year.
Domestic demand is gaining strength while aggregate supply conditions are recouping, powered by the robust performance of kharif agricultural production.
China's CGP has registered a steady decline in the past three quarters. In the third quarter (Q3), it grew 4.9 per cent year on year, slower than the growth of 18.3 per cent in Q1 and 7.9 per cent in Q2.
Union Finance Minister Nirmala Sitharaman said India’s pandemic response has focused on the ‘twin goals of saving both the lives and livelihoods’.
Beneath the glossy sheen of an up-and-coming economy - the dreams and aspirations of many an Indian have been diminished over the decade. Several, just forced to barely survive.
Manufacturing which grew by 49.6 per cent, fell 36 per cent in the same period last year. This would be music to the ears of our policymakers, who are acutely aware of the importance of the sector if India’s is to bounce back quickly to the path of double-digit growth.
The jump in growth was aided by the low base of last year, when a nationwide lockdown had stagnated economic activity.
The deficit figures this fiscal appear much better than the previous financial year, when it soared to 103.1 per cent of the estimate, mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.
'The Automotive Mission Plan of the Government of India is to set a goal to raise the contribution of the automobile sector towards nation GDP to 12 per cent and generate about 50 million new jobs,' Union Minister Nitin Gadkari said.
'Swarnim Vijay Varsh' victory flame arrives at 39 Gorkha Training Centre in Varanasi.PTI Photo
Shiv Sena MP Sanjay Raut and NCP President Sharad Pawar with the suspended Rajya Sabha MP's during the Winter Session of Parliament, in New Delhi.PTI Photo/Manvender Vashist
MoS Defence Ajay Bhatt, CDS Gen Bipin Rawat and Army Chief Gen Manoj Mukund Naravane during curtain raiser of PANEX-21 exercise on disaster management at DRDO Bhawan, in New Delhi.PTI Photo/Arun Sharma
Lok Sabha Speaker Om Birla conducts proceedings in the House, during the Winter Session of Parliament in New Delhi.LSTV/PTI Photo
Chief of Defence Staff Gen Bipin Rawat addresses during the PANEX-21 exercise on disaster management, at DRDO Bhawan in New Delhi.PTI Photo/Arun Sharma
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