India’s gross domestic product (GDP) is projected to grow at 9.2% to ₹147.5 lakh crore for the current financial year ending March 2022, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a query in the Lok Sabha, Chaudhary said the government has implemented several major reforms in recent years to boost […]
Is GDP data a reliable way to measure the health of the economy?
RBI and multilateral agencies use GDP statistics to make claims about the future growth path. But how reliable is the Indian GDP data? The NSO released the current GDP series in 2015, using 2011-12 as its base year. Since then, the new series has been embroiled in controversy. Some have argued that the problem in […]
China’s economy is still growing. But the recovery is slowing down
China’s economy is still growing, but the pace of its recovery slowed in the second quarter as the country contended with surging commodity prices and supply chain disruptions. GDPgrew 7.9% in the April-to-June quarter compared with the same period a year ago, China’s National Bureau of Statistics said Thursday… To read more: https://edition.cnn.com/2021/07/14/economy/china-q2-gdp-2021-intl-hnk/index.html SOURCE: CNN
Malaysia’s economy contracts -5.6 pct in 2020
– Malaysia’s economy contracted 3.4 per cent in the fourth quarter of 2020 (4Q20) with the resurgence in COVID-19 infections, bringing the year’s full reading, which was marked by lockdowns and border closures globally, to -5.6 per cent. The manufacturing sector was a major contributor in the fourth quarter, while services, plantation and mining shrank… To read more: […]
India can double its manufacturing GDP if it manages to unlock potential of value chains
As everyone seems to be focussing on the disruption brought in by Covid pandemic, India could be sitting on a $300 billion opportunity and could actually double its manufacturing gross domestic product in next few years, McKinsey said. Read more at:https://economictimes.indiatimes.com/news/economy/indicators/india-can-double-its-manufacturing-gdp-if-it-manages-to-unlock-potential-of-value-chains-mckinsey/articleshow/79122011.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst SOURCE: ECONOMIC TIMES
World Bank projects India’s GDP to contract 9.6% in FY21
The World Bank on Thursday projected India’s gross domestic product (GDP) to plunge in FY21 by 9.6% revised down since its June forecast of 3.2% drop, reflecting the impact of the nationwide lockdown and the income shock experienced by households and small urban service firms. “However, there is substantial uncertainty related to the course and […]
India Posts Worst GDP Slump of Major Nations as Virus Spikes
India’s economy posted the biggest contraction among major economies last quarter, with a recent surge in coronavirus infections weighing on the outlook for any recovery. Gross domestic product shrank 23.9% in the three months to June from a year earlier, the Statistics Ministry… To read more: https://www.bloomberg.com/news/articles/2020-08-31/india-s-economy-plunges-by-record-23-9-after-harsh-lockdown SOURCE: BLOOMBERG
Virus Outbreak Gives India Chance to Boost Share of Global Trade
As the coronavirus pandemic shakes up global supply chains, India is in a position to grow its exports market share with a little help from the government, according to Nirmal Bang Institutional Equities Pvt. India , which has for long struggled to grow its share in global exports from the current 2% level, can ramp To […]
Now Crisil lowers India’s GDP growth forecast to 6.3%, says slowdown deeper than suspected
Domestic rating agency Crisil on Wednesday cut India’s GDP growth forecast to 6.3 per cent for fiscal year 2020 from its earlier forecast of 6.9 per cent. This comes after the GDP growth was at its slowest in almost 6 years and grew only at 5 per cent in the first quarter. The agency has […]
India on the road to becoming a $5 trillion economy
India is striving to become a $5 trillion economy and the world’s third largest consumer market by 2025, President Ram Nath Kovind said while addressing an Indian diaspora at the Greek capital of Athens on Monday. “We are working towards making India a $5 trillion economy and the world’s third largest consumer market by 2025. […]