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Budget to offer more fiscal support to economy amid uncertainty from third wave

While the fiscal deficit could be revised upwards modestly to 7.1 per cent from 6.8 per cent budgeted for in FY22, stronger nominal GDP growth will keep government on the deficit glide path announced in the current budget, Rahul Bajoria, managing director and chief economist at Barclays India, said. 
The government is expected to estimate <span class='webrupee'>₹</span>17.5 lakh crore or 6.5 per cent of GDP in fiscal deficit in FY23.(HT Photo)
The government is expected to estimate 17.5 lakh crore or 6.5 per cent of GDP in fiscal deficit in FY23.(HT Photo)
Published on Jan 14, 2022 09:29 PM IST
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PTI | , New Delhi

State of the economy, beyond the latest GDP numbers

India’s gross domestic product witnessed a growth of 8.4% in the quarter ended September, according to data released by the National Statistical Office on November 30.
India's GDP grew by 8.4 per cent in the July-September quarter 2021-22 
India's GDP grew by 8.4 per cent in the July-September quarter 2021-22 
Updated on Dec 01, 2021 06:23 AM IST
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India's GDP grows 8.4% in Q2 2021-22, compared to 7.4% contraction a year ago

According to the figures issued by the Union ministry of statistics and programme implementation, the gross domestic product (GDP) at constant prices in Q2 2021-22 is estimated at 35.73 lakh crore, as against 32.97 lakh crore in Q2 2020-21
India's GDP grew by 8.4 per cent in the July-September quarter 2021-22 (File Photo)
India's GDP grew by 8.4 per cent in the July-September quarter 2021-22 (File Photo)
Published on Nov 30, 2021 06:41 PM IST
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Written by Joydeep Bose | Edited by Avik Roy, Hindustan Times, New Delhi

India's Q4 GDP growth at 1.6%, contracts 7.3% in FY21: Govt data

India's economy, which was hit by the coronavirus pandemic and the nationwide lockdown imposed to curb the spread of infections last year, contracted during the first half of FY21.
The India's GDP continued its expansion in Q4 of FY21 in line with the forecasts by experts.. ((HT Photo))
The India's GDP continued its expansion in Q4 of FY21 in line with the forecasts by experts.. ((HT Photo))
Published on May 31, 2021 05:53 PM IST
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By | Written by Meenakshi Ray, New Delhi

China's economy picks up speed in Q4, ends 2020 in solid shape after Covid shock

The world's second-largest economy has surprised many with the speed of its recovery from the coronavirus jolt.
GDP grew 2.3% in 2020, the data showed, making China the only major economy in the world to avoid a contraction last year.(AP file photo)
GDP grew 2.3% in 2020, the data showed, making China the only major economy in the world to avoid a contraction last year.(AP file photo)
Published on Jan 18, 2021 10:12 AM IST
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Reuters | , Beijing

Indian economy to rebound with 8.9% growth in FY22: Report

The National Statistical Organisation (NSO) on Thursday predicted that the economy will contract 7.7 per cent in the current financial year ending in March, the worst performance in four decades.
Workers stitch garments at a factory of an apparel shop in Jaipur.(REUTERS)
Workers stitch garments at a factory of an apparel shop in Jaipur.(REUTERS)
Published on Jan 08, 2021 06:25 PM IST
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New Delhi | ByPress Trust of India | Posted by Shankhyaneel Sarkar

GDP projected to shrink 7.7% this fiscal: Advanced estimate

Nominal GDP, which is the base for revenue projections in the budget, is expected to contract by 4.2%. 2020-21 The Union Budget had projected nominal GDP growth of 10%.
The 7.7% contraction, if it materialises,would mark India’s worst economic performance since 1961-62, the earliest period for which GDP data is available on the website of the Centre for Monitoring Indian Economy (CMIE).
The 7.7% contraction, if it materialises,would mark India’s worst economic performance since 1961-62, the earliest period for which GDP data is available on the website of the Centre for Monitoring Indian Economy (CMIE).
Updated on Jan 08, 2021 12:38 AM IST
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Hindustan Times, New Delhi | ByRoshan Kishore and Rajeev Jayaswal, New Delhi

Budget to set course for economic pick up after Covid carnage

An appropriate understanding based on reliable data is critical to ensure effective policy intervention, it said, adding a low base in current fiscal will make even a moderate improvement in the first couple of quarters of next financial year as decent year-on-year growth.
The combined effect being that the economy got relegated to the sixth spot in 2020.(Ajay Aggarwal/HT PHOTO)
The combined effect being that the economy got relegated to the sixth spot in 2020.(Ajay Aggarwal/HT PHOTO)
Published on Jan 01, 2021 07:45 PM IST
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New Delhi | ByPress Trust of India| Posted by Susmita Pakrasi

India to become 5th largest economy in 2025, 3rd largest by 2030

India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020.
An important driver of India’s economic recovery thus far has been the agricultural sector, which has been buoyed by a bountiful harvest.(AP representative image)
An important driver of India’s economic recovery thus far has been the agricultural sector, which has been buoyed by a bountiful harvest.(AP representative image)
Updated on Dec 26, 2020 01:23 PM IST
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New Delhi | ByPress Trust of India | Posted by Deepali Sharma

RBI bulletin: Q3 growth to turn positive, says article

Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9% in the first quarter of the current financial year. The contraction narrowed down to 7.5% in the second quarter.
CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai.(REUTERS)
CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai.(REUTERS)
Published on Dec 25, 2020 03:41 AM IST
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Mumbai | ByPress Trust of India

Economy bottoming out; rebound not broad-based

The Indian economy was losing growth momentum even before the pandemic inflicted a huge disruption to economic activity. GDP growth was 8.2% in March 2018.
The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep policy rates unchanged while retaining an accommodative stance.(File photo)
The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep policy rates unchanged while retaining an accommodative stance.(File photo)
Updated on Dec 05, 2020 03:05 AM IST
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Hindustan Times, New Delhi | By

Conditions will improve for Indian corporates next year as economic activity gathers pace: Moody’s

It said the low interest rate environment and widespread credit availability will allow corporates with strong balance sheets to refinance and grow.
Moody’s rates 21 Indian corporates across five key sectors: oil and gas, telecommunications, automobile manufacturers and suppliers, steel and mining.(Bloomberg)
Moody’s rates 21 Indian corporates across five key sectors: oil and gas, telecommunications, automobile manufacturers and suppliers, steel and mining.(Bloomberg)
Published on Dec 02, 2020 05:23 PM IST
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New Delhi | ByPress Trust of India | Posted by Deepali Sharma

Economy shrinks 7.5% as country enters recession

Some of the improvement in the second quarter’s and subsequent numbers could also be a result of a favourable base effect, as India’s GDP growth had been falling even before the pandemic erupted.(Reuters Photo)
Some of the improvement in the second quarter’s and subsequent numbers could also be a result of a favourable base effect, as India’s GDP growth had been falling even before the pandemic erupted.(Reuters Photo)
Updated on Nov 28, 2020 06:58 AM IST
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Hindustan Times, New Delhi | By

Indian economy recovering fast, all parameters show improvement: DEA Secretary

Last week, Finance Minister Nirmala Sitharaman said there were visible signs of revival in the economy and the GDP growth may be in negative zone or near zero in the current fiscal.
Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3% this year(File Photo)
Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3% this year(File Photo)
Published on Nov 03, 2020 11:24 PM IST
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New Delhi | ByPress Trust of India | Posted by Nilavro Ghosh

India’s growth this year will be negative or near zero, says finance minister Nirmala Sitharaman

Speaking at the India Energy Forum of CERAWeek, she said there was a “very firm lockdown” imposed beginning March 25 as the government put lives before livelihood.
The focus of the government is on public spending to boost economic activity, Sitharaman said(ANI)
The focus of the government is on public spending to boost economic activity, Sitharaman said(ANI)
Published on Oct 27, 2020 06:13 PM IST
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New Delhi | ByPress Trust of India | Posted by Nilavro Ghosh

RBI projects 9.5 per cent GDP fall, sees revival promise in Q4

While the second quarter’s GDP numbers will only be released in November, high frequency economic indicators have been pointing towards a sequential recovery in the economy.
An Indian villager wearing a face mask as a precaution against the coronavirus sells his ware at market in Jammu, India.(AP)
An Indian villager wearing a face mask as a precaution against the coronavirus sells his ware at market in Jammu, India.(AP)
Updated on Oct 10, 2020 05:50 AM IST
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Hindustan Times, New Delhi | By

India’s economy to experience record contraction in 2020-21: S&P

India’s weak fiscal settings will worsen further this year, constraining the government’s ability to aid the economy.
Daily-wage laborers wearing masks as protection against the coronavirus wait to get work at a town square in Dharmsala.(AP)
Daily-wage laborers wearing masks as protection against the coronavirus wait to get work at a town square in Dharmsala.(AP)
Updated on Sep 25, 2020 09:46 PM IST
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New Delhi | ByPress Trust of India | Posted by Shankhyaneel Sarkar

Nominal GDP to grow at 19%in FY22: Govt

It is a bit more modest than some optimistic estimates that the Fifteenth Finance Commission has received from experts, the Commission’s chairman, NK Singh, said in an interview, citing a presentation made by the finance ministry’s chief economic adviser, Krishnamurthy Subramanian.
The finance ministry has, however, not disclosed its GDP estimates for the current financial year but most forecasters are now projecting a GDP contraction of more than 10%. (AFP photo)
The finance ministry has, however, not disclosed its GDP estimates for the current financial year but most forecasters are now projecting a GDP contraction of more than 10%. (AFP photo)
Published on Sep 21, 2020 12:32 AM IST
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Hindustan Times, New Delhi | ByGireesh Chandra Prasad and Asit Ranjan Mishra, New Delhi

Crisil projects 9% GDP contraction in FY21, says govt not providing adequate direct fiscal support

The projection comes days after official data for the June quarter showed a contraction of 23.9 per cent in the economy.
In May, Crisil had estimated the economy to contract by 5 per cent.(Reuters)
In May, Crisil had estimated the economy to contract by 5 per cent.(Reuters)
Updated on Sep 10, 2020 10:22 PM IST
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Mumbai | ByPress Trust of India | Posted by Prashasti Singh

Indian economy worst hit, FY21 GDP to contract 14.8%: Goldman Sachs

It had earlier estimated that the economy of the country, which is now home to the second-largest number of Covid-19 infections, to contract by 11.8 per cent.
The 14.8 per cent contraction in 2020-21 is among the most pessimistic one among all the analysts till now.(AFP)
The 14.8 per cent contraction in 2020-21 is among the most pessimistic one among all the analysts till now.(AFP)
Published on Sep 08, 2020 06:14 PM IST
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Mumbai | ByPress Trust of India| Posted by Susmita Pakrasi

GST compensation to states a legal obligation, Ashok Gehlot tells PM Modi

Ashok Gehlot said under the GST (Compensation to States) Act, 2017, states are guaranteed compensation for loss of revenue on account of implementation of GST for a transition period of five years, starting from 2017.
Rajasthan Chief Minister Ashok Gehlot in his letter to Prime Minister Narendra Modi said states should not e expected to bear the burden of GST shortfall.(HT FILE PHOTO)
Rajasthan Chief Minister Ashok Gehlot in his letter to Prime Minister Narendra Modi said states should not e expected to bear the burden of GST shortfall.(HT FILE PHOTO)
Updated on Sep 08, 2020 07:51 AM IST
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Hindustan Times, Jaipur | ByHT Correspondent

Small positive growth may not be ruled out in FY21, says ex-RBI governor Rangarajan

Rangarajan and India EY India chief policy advisor D K Srivastava in a paper titled ‘India’s Growth Prospects and Policy Options: Emerging from the Pandemic’s Shadow’ stated that the story of the Indian economy as it unfolds under the impact of Covid-19 is disquieting.
Laborers carry sacks of food grains at a market area in Kolkata, India. India’s economy has suffered its worst slump on record in April-June quarter of 2020-21.(AP)
Laborers carry sacks of food grains at a market area in Kolkata, India. India’s economy has suffered its worst slump on record in April-June quarter of 2020-21.(AP)
Updated on Sep 06, 2020 04:29 PM IST
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New Delhi | ByPress Trust of India | Posted by Arpan Rai

Restoring growth to boosting health infra: Charting India’s goals

The unforeseen events in the run-up to completion of 73 years of independence today give a good reason to revisit the goals we want to achieve by August 15, 2022.
Our health infrastructure, at least in most places, has been found to be wanting in dealing with the pandemic’s public health challenge.(Satish Bate/HT Photo)
Our health infrastructure, at least in most places, has been found to be wanting in dealing with the pandemic’s public health challenge.(Satish Bate/HT Photo)
Updated on Aug 19, 2020 12:24 PM IST
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Hindustan Times, New Delhi | By

Factory output shrinks sharply in June to 16.6%

Data released by the National Statistical Office on Tuesday showed the Index of Industrial Production (IIP) contracted 16.6% in June against a 34% contraction in May.
Out of the 32 manufacturing sub-sectors, only pharmaceuticals (34.6%) and tobacco (4.5%) recorded growth.
Out of the 32 manufacturing sub-sectors, only pharmaceuticals (34.6%) and tobacco (4.5%) recorded growth.
Updated on Aug 12, 2020 04:44 AM IST
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Hindustan Times, New Delhi | ByAsit Ranjan Mishra, New Delhi

The differing digital journeys of India, China

There is resistance against Chinese dominance. India needs to fix its domestic landscape to take advantage
A woman looks at her mobile phone, Beijing, 2020. China’s digital surge has not only reinvented the economy, but has also bolstered the nation’s growth rate.(AFP)
A woman looks at her mobile phone, Beijing, 2020. China’s digital surge has not only reinvented the economy, but has also bolstered the nation’s growth rate.(AFP)
Updated on Jul 20, 2020 10:31 PM IST
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ByMahesh Sachdev

Why the June quarter numbers are important

Purchasing Managers’ Indices (PMI) for the month of June will be released this week. PMI numbers for April and May show a huge contraction in economic activity.
The Bombay Stock Exchange building in Mumbai.(PTI)
The Bombay Stock Exchange building in Mumbai.(PTI)
Updated on Jun 30, 2020 01:55 AM IST
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Hindustan Times, New Delhi | By

‘Green shoots of economic revival seen across sectors’: Finance ministry

The finance ministry said positive signs were visible across sectors like agricultural procurement, fertiliser sales, energy consumption, freight movement, digital transactions and forex earnings.
Even though most sectors show an upswing in activities, agriculture remains the foundation of this economic growth. (AP file photo)
Even though most sectors show an upswing in activities, agriculture remains the foundation of this economic growth. (AP file photo)
Updated on Jun 23, 2020 05:45 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal | Edited by Ashutosh Tripathi

Addressing pre-Covid issues to be crucial for India’s recovery

Any modern economy is a giant market. Everybody is a buyer or a seller. Workers sell their labour, businesses their products and services. Essential and non-essential spending decisions feed into each other. And everything is linked.
To be sure, the Covid-19 pandemic did disrupt economic activity towards the end of the last quarter of 2019-20.(Pratham Gokhale/HT Photo)
To be sure, the Covid-19 pandemic did disrupt economic activity towards the end of the last quarter of 2019-20.(Pratham Gokhale/HT Photo)
Updated on Dec 28, 2020 10:26 PM IST
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Hindustan Times, New Delhi | By

‘Remember, this is pre-lockdown’: Chidambaram warns on India’s 11-year low GDP slump

“Remember, this is pre-lockdown. Of the 91 days of Q4, lockdown applied to only to 7 days,” Chidambaram said in a tweet on the government released data for country’s GDP.
Former finance minister and Rajya Sabha MP P Chidambaram at the Parliament House during the Budget Session, in New Delhi in March 2020.(Sonu Mehta/HT PHOTO)
Former finance minister and Rajya Sabha MP P Chidambaram at the Parliament House during the Budget Session, in New Delhi in March 2020.(Sonu Mehta/HT PHOTO)
Updated on May 29, 2020 07:15 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Arpan Rai

At 4.2%, GDP growth in 2019-20 hits 11-year low

The economic growth slipped to 3.1 per cent in the January-March quarter of 2019-20 showing impact of the coronavirus
The GDP had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday. (HT photo)
The GDP had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday. (HT photo)
Updated on May 29, 2020 06:47 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent | Edited by Ashutosh Tripathi
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Tuesday, January 18, 2022