gdp | DD News

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 5:54 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...