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India’s economy plunges by record 23.9 per cent after lockdown

Gross domestic product shrank 23.9% in the three months to June from a year earlier, the Statistics Ministry said in a report Monday.
Labourers wearing protective face masks load grocery items onto a supply truck at a wholesale market during the coronavirus disease outbreak in Kolkata.(REUTERS)
Labourers wearing protective face masks load grocery items onto a supply truck at a wholesale market during the coronavirus disease outbreak in Kolkata.(REUTERS)
Published on Aug 31, 2020 07:53 PM IST
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ByBloomberg | Posted by Arpan Rai

GDP numbers to be out today; Q1 growth likely to be worst

This quarter is expected to see the worst performance of the economy since the publication of quarterly data in 1996.
India's GDP growth slowed down to 7% during the April-June quarter.(Reuters)
India's GDP growth slowed down to 7% during the April-June quarter.(Reuters)
Updated on Aug 31, 2020 10:58 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Why GDP data matters and key indicators to look for

While the real growth rate is expected to remain in contraction zone not just in the first quarter but also the full financial year, today’s release will give an idea about the hit to nominal growth.
Labourers wearing protective face masks load grocery items onto a supply truck at a wholesale market during the coronavirus disease (COVID-19) outbreak in Kolkata.(REUTERS)
Labourers wearing protective face masks load grocery items onto a supply truck at a wholesale market during the coronavirus disease (COVID-19) outbreak in Kolkata.(REUTERS)
Updated on Aug 31, 2020 06:17 AM IST
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Hindustan Times, New Delhi | ByRoshan Kishore

India’s Q1 numbers may be among lowest in G20

GDP for the three months ended June 30, to be released on Monday, is expected to be the worst since India started reporting quarterly data in 1996
Manufacturing is likely to see the sharpest slowdown, followed by services, based on high-frequency indicators.(Bloomberg)
Manufacturing is likely to see the sharpest slowdown, followed by services, based on high-frequency indicators.(Bloomberg)
Updated on Aug 31, 2020 06:25 AM IST
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Livemint, New Delhi | ByAsit Ranjan Mishra

GST Council may discuss market borrowing by states on Thursday

The special GST Council meeting has been convened to discuss how to compensate states for their revenue shortfalls when the economy is facing headwinds
The pandemic and a 68-day nationwide lockdown to check its spread from March 25 hit the country’s economic growth.(PTI)
The pandemic and a 68-day nationwide lockdown to check its spread from March 25 hit the country’s economic growth.(PTI)
Updated on Aug 26, 2020 05:19 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

Education is not learning of facts, but training of mind. And NEP 2020 should achieve that | Opinion

History is witness to the fact that all the developed countries have ensured that the medium of instruction in their countries is in their own native language/mother tongue. It is high time we accept the reality and move on.
The education sector has to transform itself to cope with the requirements of an emerging knowledge economy.
The education sector has to transform itself to cope with the requirements of an emerging knowledge economy.
Updated on Aug 02, 2020 08:01 AM IST
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New Delhi | ByVS Pandey

Canada’s GDP fell by nearly 12% in April due to Covid-19 lockdown

While the economic low at the peak of the crisis was predictable, the number did fall short of the approximately 13 per cent others had indicated.
Statistics Canada or StatCan stated that real GDP dropped 11.6 per cent in April after a decline of 7.5 per cent in March. (AFP photo)
Statistics Canada or StatCan stated that real GDP dropped 11.6 per cent in April after a decline of 7.5 per cent in March. (AFP photo)
Published on Jul 03, 2020 06:59 AM IST
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Hindustan Times, Toronto | ByAnirudh Bhattacharyya

World Bank warns of drop in Indian GDP due to Covid-19 pandemic

Owing to the worldwide Covid-19 outbreak, advanced economies will see growth falling 7% in 2020, while emerging economies as a group, which includes India, will see a growth decline of 2.5% this year, the World bank has said.
Workers in one of the cycle manufacturing units in Ludhiana.(JS Grewal/HT File Photo)
Workers in one of the cycle manufacturing units in Ludhiana.(JS Grewal/HT File Photo)
Updated on Jun 09, 2020 12:19 AM IST
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Hindustan Times, New Delhi | ByZia Haq

Fiscal deficit widens to 4.6% of GDP in 2019-20

According to the Controller General of Accounts (CGA) data, the fiscal deficit for 2019-20 worked out to be 4.59 per cent of the GDP, while the revenue deficit was 3.27 per cent.
The effective revenue deficit was 2.36 per cent, the data showed.(REUTERS)
The effective revenue deficit was 2.36 per cent, the data showed.(REUTERS)
Updated on May 29, 2020 11:44 PM IST
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New Delhi | ByPress Trust of India | Posted by Harshita Singh

India GDP growth dips to 3.1% in Jan-Mar; 4.2% in 2019-20

The gross domestic product (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.
Slowing down of business activities across the world in January-March impacted the Indian economy.(AFP)
Slowing down of business activities across the world in January-March impacted the Indian economy.(AFP)
Updated on May 29, 2020 06:12 PM IST
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New Delhi | ByPress Trust of India | Posted by Harshita Singh

Sensex, Nifty fall ahead of GDP data; Vodafone

Gross domestic product (GDP) data is expected to show India’s economy grew at its slowest pace in at least two years, as the Covid-19 pandemic hit already declining consumer demand and private investment.
Indian equity indices opened in red on Friday.(Reuters File Photo)
Indian equity indices opened in red on Friday.(Reuters File Photo)
Updated on May 29, 2020 09:37 AM IST
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Bengaluru | ByReuters

‘We need stimulus of 5% of GDP now’: Rakesh Mohan

Mohan, who is now a senior fellow at the Jackson Institute for Global Affairs at Yale University, said in an interview that India has the capacity to sustain high temporary fiscal deficits and then recover by restoring relatively healthy economic growth.
(Bloomberg File Photo)
(Bloomberg File Photo)
Published on May 01, 2020 03:38 AM IST
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Hindustan Times, New Delhi | ByAnil Padmanabhan

India’s GDP likely to grow between -0.9% and 1.5% in FY21: CII

The association sketched out the scenarios in a paper titled A plan for economic recovery, in which it called for urgent fiscal interventions to boost the sagging economy.
For micro, small and medium enterprises (MSMEs), CII suggested a credit protection scheme wherein 75-80% of a loan would be guaranteed by the Reserve bank of India (RBI).(Abhijit Bhatlekar/Mint)
For micro, small and medium enterprises (MSMEs), CII suggested a credit protection scheme wherein 75-80% of a loan would be guaranteed by the Reserve bank of India (RBI).(Abhijit Bhatlekar/Mint)
Updated on Apr 23, 2020 06:22 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

‘In the midst of darkness light persists’: RBI governor quotes Mahatma Gandhi

The RBI governor quoted from Mahatma Gandhi’s speech in October 1931 in London’s Kingsley Hall to focus on what the central bank is doing in its fight against the coronavirus disease.
Reserve Bank of India (RBI) Governor Shaktikanta Das(PTI file photo)
Reserve Bank of India (RBI) Governor Shaktikanta Das(PTI file photo)
Updated on Apr 17, 2020 10:29 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Government revises GDP growth for July-September quarter to 5.1% from 4.5%

The revision for the September quarter was up sharply from the 4.5% preliminary report, which would have been the weakest growth in more than six years.
The economy grew 4.7% in the October-December quarter, the government said on Friday.(PTI File Photo)
The economy grew 4.7% in the October-December quarter, the government said on Friday.(PTI File Photo)
Updated on Feb 28, 2020 06:27 PM IST
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New Delhi | ByReuters

Economy grew 4.7% in Dec quarter; data for previous quarters ramped up

The data also showed that projections for economic growth in the full financial year 2019-20 had been retained at 5 per cent in the second advance estimates. In 2018-19, the GDP growth stood at 6.8%.
In Budget 2020-21 presentation, the government estimated economic growth in the current fiscal year ending in March would be 5%, the lowest for 11 years.(ANI File Photo)
In Budget 2020-21 presentation, the government estimated economic growth in the current fiscal year ending in March would be 5%, the lowest for 11 years.(ANI File Photo)
Updated on Feb 28, 2020 06:57 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

GDP growth rate for 2018-19 revised downwards to 6.1%

The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier mainly due to deceleration in mining, manufacturing and farm sectors.
Image for representation(File photo)
Image for representation(File photo)
Updated on Jan 31, 2020 07:01 PM IST
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New Delhi | ByPress Trust of India

Economic Survey projects 6%-6.5% growth for 2020-21, hints economy bottomed out

India’s gross domestic product (GDP) grew at 4.5% in the second quarter of the current financial year, the lowest since March 2013. According to the National Statistical Office’s (NSO) first advance estimates, India’s GDP is expected to grow at 5% in 2019-20, the lowest since 2008-09.
The Economic Survey 2019-20 tabled in the Parliament on Friday has projected a 6%-6.5% growth for 2020-21(ANI screengrab)
The Economic Survey 2019-20 tabled in the Parliament on Friday has projected a 6%-6.5% growth for 2020-21(ANI screengrab)
Updated on Jan 31, 2020 02:36 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Direct tax numbers to put GDP in focus

If the direct tax collections fall short of the 2018-19 figures — and it could, given the sharp fall in the government’s own growth estimates for 2019-2020 — this will only be the second instance of a contraction in direct collections since 1980-81, the earliest period for which data is available with the Reserve Bank of India.
Reuters reported on Friday that direct tax collections in the current fiscal year could end up being lower than the Rs 11.5 lakh crore collected in 2018-19(Bloomberg)
Reuters reported on Friday that direct tax collections in the current fiscal year could end up being lower than the Rs 11.5 lakh crore collected in 2018-19(Bloomberg)
Updated on Jan 25, 2020 07:39 AM IST
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Hindustan Times, New Delhi | ByRoshan Kishore

GDP expected to grow at 11-year low

The forecast is even more worrying on the revenue collection front, as nominal GDP growth is expected to fall to 7.5%, the lowest since FY76.
The projected growth for FY20 is the lowest since FY09, when GDP growth plummeted to 3.1% amidst turbulence because of the 2008 global financial crisis.(Bloomberg file photo)
The projected growth for FY20 is the lowest since FY09, when GDP growth plummeted to 3.1% amidst turbulence because of the 2008 global financial crisis.(Bloomberg file photo)
Updated on Jan 08, 2020 05:13 AM IST
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Hindustan Times, New Delhi | ByRoshan Kishore

GDP seen dropping to 5 per cent in 2019-20, indicates Govt data

The decline has been mainly on account of deceleration in manufacturing sector growth, which is expected to come down to 2 per cent in 2019-20 from 6.2 per cent in the year-ago fiscal.
India’s gross domestic product (GDP) growth slowed to 5% in the quarter ended June.(HT File)
India’s gross domestic product (GDP) growth slowed to 5% in the quarter ended June.(HT File)
Updated on Jan 07, 2020 06:17 PM IST
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New Delhi | ByPress Trust of India

Lower revenue this year, but higher growth ahead: Finance ministry

Union finance ministry’s report assumes higher nominal growth than IMF forecasts up to 2024-25.
Along with the details of proposed investment projects, the Union finance ministry report also gives estimates of India’s nominal GDP from 2019-20 to 2024-25.(Pradeep Gaur/Mint)
Along with the details of proposed investment projects, the Union finance ministry report also gives estimates of India’s nominal GDP from 2019-20 to 2024-25.(Pradeep Gaur/Mint)
Updated on Jan 02, 2020 08:28 AM IST
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Hindustan Times, New Delhi | ByRoshan Kishore

Strain over growth, federalism, reform

Whether or not the economy can handle the tensions between maintaining growth, fiscal federalism and reforms — both those already rolled out and the ones being contemplated — will be the most important economic question of 2020.
As the Indian economy heads into 2020, the biggest question it faces is still about 2019.(ILLUSTRATION: MOHIT SUneja)
As the Indian economy heads into 2020, the biggest question it faces is still about 2019.(ILLUSTRATION: MOHIT SUneja)
Updated on Jan 01, 2020 03:03 AM IST
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Hindustan Times | ByRoshan Kishore

‘GDP not Ramayana or Bible, will not be used in future’: BJP MP

The latest GDP numbers mark the longest continuous deceleration in gross domestic product (GDP) growth, which has been slowing for six straight quarters.
BJP MP Nishikant Dubey speaking in the Lok Sabha on Dec 2, 2019. (ANI photo)
BJP MP Nishikant Dubey speaking in the Lok Sabha on Dec 2, 2019. (ANI photo)
Updated on Dec 02, 2019 05:53 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

RBI likely to cut interest rates for 6th time after growth dips to 6-yr low

The Reserve Bank of India will deliver its rate decision on Dec. 5, days after a report showed growth collapsed to 4.5% in the July-September quarter, the first time it’s been below 5% since 2013.
Led by Governor Shaktikanta Das, the RBI has already cut interest rates by 135 basis points in five moves this year, the most by any Asian central bank.(REUTERS FILE)
Led by Governor Shaktikanta Das, the RBI has already cut interest rates by 135 basis points in five moves this year, the most by any Asian central bank.(REUTERS FILE)
Updated on Dec 02, 2019 06:32 AM IST
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Bloomberg | ByAnirban Nag

‘Govt has taken a host of measures to tackle low GDP’: PK Mishra

Mishra said that the economic fundamentals of the country were strong and between 2014 and 2019, India’s annual average GDP growth of 7.5 percent was the highest since Independence.
PK Mishra, Principal Secretary to Prime Minister Modi said landmark steps to increase productivity of the factors of production such as land, labour and capital are also being worked out.(ANI PHOTO.)
PK Mishra, Principal Secretary to Prime Minister Modi said landmark steps to increase productivity of the factors of production such as land, labour and capital are also being worked out.(ANI PHOTO.)
Updated on Nov 29, 2019 11:41 PM IST
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Hindustan Times, Bhubaneswar | ByDebabrata Mohanty

April-October fiscal deficit stood at 102.4 % of budgeted target

Net tax receipts in the April-October period was 6.83 trillion rupees, while total expenditure was 16.55 trillion rupees, the data showed
This GDP growth data for the September 2019 quarter is the lowest since January-March of 2012-13, when it was registered at 4.3 per cent. (HT photo)
This GDP growth data for the September 2019 quarter is the lowest since January-March of 2012-13, when it was registered at 4.3 per cent. (HT photo)
Updated on Nov 29, 2019 07:56 PM IST
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New Delhi | ByReuters

‘Worrisome’: Manmohan Singh faults Centre’s policies for GDP slump

Former prime minister Manmohan Singh said that the state of economy is a reflection of state of its society. “Our social fabric of trust and confidence is now torn and ruptured,” he said.
Former Prime Minister Dr Manmohan Singh during the Indira Gandhi Prize for Peace, Disarmament & Development on November 19. 2019.(Sonu Mehta/HT PHOTO)
Former Prime Minister Dr Manmohan Singh during the Indira Gandhi Prize for Peace, Disarmament & Development on November 19. 2019.(Sonu Mehta/HT PHOTO)
Updated on Jul 31, 2020 02:52 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

‘Economy in bad shape, $5 tn GDP target simply out of question’: Ex-RBI governor C Rangarajan

The Modi government soon after assuming office for the second term set a target of taking the economy to USD 5 trillion over the next five years.
C Rangarajan said if at all the GDP becomes a USD 5-trillion gorilla, our per capita income will grow still USD 3,600 up from the present USD 1,800, leaving us still in the low-middle income country bracket.(Arvind Yadav/ HT Photo)
C Rangarajan said if at all the GDP becomes a USD 5-trillion gorilla, our per capita income will grow still USD 3,600 up from the present USD 1,800, leaving us still in the low-middle income country bracket.(Arvind Yadav/ HT Photo)
Updated on Nov 22, 2019 07:20 AM IST
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Ahmedabad | ByPress Trust of India

Centre to bring in new base year for GDP calculation in few months: Official

Though the ministry is considering 2017-18 as the new base year, no decision has been taken as the committees of experts are awaiting some more data before finalising their opinion.
In January last year, the Statistics Ministry had said that it is set to change the base year of national accounts to 2017-18 from 2011-12 after completion of the household consumer expenditure survey and labour force data by the end of 2018. (HT photo)
In January last year, the Statistics Ministry had said that it is set to change the base year of national accounts to 2017-18 from 2011-12 after completion of the household consumer expenditure survey and labour force data by the end of 2018. (HT photo)
Updated on Nov 05, 2019 10:20 PM IST
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New Delhi | ByPress Trust of India
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