gdp

October 23, 2024 11:41 AM

IMF retains India’s GDP growth at 7%, warns of new global risks

The International Monetary Fund (IMF) on Tuesday maintained its projection for India’s GDP growth at 7% for the current fiscal year ending March 31, 2025. The latest estimates, published in the IMF’s World Economic Outlook (WEO), also forecast India’s growth rate to moderate to 6.5% in the fiscal year 2025-26. "In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic...

October 15, 2024 9:10 PM

Bangladesh GDP growth to decelerate to 4% in FY25: World Bank

Bangladesh's recovery from the COVID-19 pandemic continues to be impacted by high inflation, a balance of payments deficit, financial sector vulnerabilities, and increasingly limited job opportunities for its youth—particularly women and educated young people—the World Bank said on Tuesday. The latest Bangladesh Development Update highlights how global and domestic factors have created a challenging macro-fiscal environment. Bangladesh's real GDP growth slowed to 5.2% in FY24, driven by wea...

October 10, 2024 10:33 AM

Rate cut with 7% growth unprecedented in India or globally: SBI report

Following the Reserve Bank of India's (RBI) forecast of over 7% GDP growth for the entire financial year 2024-25, a recent State Bank of India (SBI) report has highlighted that such a scenario of rate cuts accompanying high growth rates has rarely, if ever, occurred in India or globally. Despite the strong economic growth momentum, the SBI report raises whether the RBI is setting the stage for a potential rate cut. "Perhaps a 7% growth with a rate cut has never happened in India's history or i...

October 4, 2024 12:04 PM

Government confident of meeting fiscal deficit target for FY25, says Finance Minister Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday reaffirmed the government's commitment to reducing the fiscal deficit from 5.6 percent of GDP in FY24 to 4.9 percent in FY25. Speaking at the Kautilya Economic Conclave, Sitharaman said that the government is optimistic about maintaining fiscal discipline due to improved revenue collections. The quality of government expenditure has improved, with a focus on capital outlays. The Finance Minister announced a 17.1 percent increase in capital ex...

September 16, 2024 5:22 PM

Economic Survey 2024: Social Welfare Push for Inclusive Growth

The Economic Survey 2023-24 highlights the government's sincere efforts towards inclusive growth through its focus on social welfare. These efforts aim to improve capabilities and enhance opportunities for the underprivileged sections of society. The survey emphasizes increased expenditure on social services, a sharp decline in multidimensional poverty, and a reduction in income inequality and the rural-urban divide. The expenditure on social services has seen a substantial rise, increasing fr...

September 16, 2024 5:54 PM

FICCI forecasts 7% annual GDP growth for India in 2024-25

The Federation of Indian Chambers of Commerce & Industry (FICCI) has forecasted a 7.0% annual median GDP growth for India in the fiscal year 2024-25, according to its latest Economic Outlook Survey. "Despite persisting headwinds, India's economic growth remains resilient, and the nation remains amongst fastest growing economies in the world," the Survey states. The report predicts a 3.7% growth in agriculture and allied activities for 2024-25, a significant improvement from the 1.4% growth...

September 16, 2024 5:44 PM

India’s GDP exceeds estimates, grows at 8.2% in FY24 and 7.8% in Q4

India's gross domestic product (GDP) outperformed expectations, achieving a 7.8% growth rate in the January-March quarter. For the full fiscal year 2023-24, GDP growth was revised upwards to 8.2% from the earlier estimate of 7.6 percent, as reported by the Ministry of Statistics and Programme Implementation on Friday. This surge marks an improvement from the 7.0% growth recorded in the preceding fiscal year, showcasing the resilience and strength of the Indian economy amidst evolving global dyn...

September 16, 2024 4:26 PM

India to grow at 6.6 per cent over next two years, driven by public sector demand: OECD

India's GDP is expected to grow by 7.8 per cent in the concluded financial year 2023-24, with a projection of 6.6 per cent growth over the next two fiscal years, according to latest Economic Outlook report from OECD. The report cautions that global near-term developments could pose challenges to achieving higher growth. According to the report, India's domestic demand will be driven by gross capital formation, particularly in the public sector, while private consumption growth is expected to re...

April 23, 2024 10:31 PM

UK to spend 2.5% of GDP on defence by 2030, says Sunak

Prime Minister Rishi Sunak said on Tuesday he would lift defence spending to 2.5% of GDP a year by 2030, saying the British arms industry must be on a "war footing" when the world is at its most dangerous since the Cold War. Standing alongside NATO leader Jens Stoltenberg, Sunak said Britain would spend an additional 75 billion pounds ($93 billion)over six years to increase the production of munitions and drones, making Britain the second-largest defence spender in NATO. He said one of...

September 16, 2024 5:55 PM

IMF boosts India’s 2024 growth forecast

The International Monetary Fund (IMF) in its latest outlook raised India's growth projections for 2024 from 6.5 per cent to 6.8 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies. For the year 2025, the IMF maintained India's growth rate at 6.5 per cent. It attributed robustness and strength in domestic demand and a rising working-age population behind its growth projections. Countries with a current demographic dividend could...