Tag: GDP

Modi government communicates borrowing options to settle GST compensation to States

NEW DELHI: States will have to forego borrowing flexibility of 1% of state GDP given under the Atmanirbhar Bharat package if they opt to settle their entire GST compensation shortfall for FY21 through market borrowings. As per the design of the options given to the states by the Narendra Modi government (Centre) to meet GST compensation […]

Fiscal deficit expected to touch seven per cent of GDP in 2020-21: Brickwork Ratings

MUMBAI: Centre’s fiscal deficit is expected to touch 7 per cent of the GDP in 2020-21, against budget estimates of 3.5 per cent, Brickwork Ratings said on Saturday. The ratings agency said that the impact of the lockdown on economic activity shows up starkly in the trends in the Central government revenue collection during the […]

Indian economy will shrink 5% in FY21, stimulus not enough: S&P Ratings

NEW DELHI: S&P Global Ratings on Monday said Indian economy will shrink 5 per cent in the current fiscal, saying the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support. In a report on emerging markets titled ‘Financial Conditions Reflect Optimism, Lockdown Fatigue Emerges’, S&P said the […]

Moody’s slashes India growth forecast to 0.2% for 2020-21

NEW DELHI: Moody’s Investors Service on Tuesday slashed India growth forecast for calendar year 2020 to 0.2 percent, from 2.5 percent projected in March. For 2021, Moody’s expects India’s growth to rebound to 6.2 percent. In its report titled – Global Macro Outlook 2020-21 (April 2020 update), Moody’s has lowered G-20 advanced economies as a […]

RBI should implement ‘Helicopter Money’ to counter economic crisis: Telangana CM

NEW DELHI: The Telangana government on Saturday decided to extend the lockdown in the state till April 30 to contain the spread of COVID-19. Noting that the state shares a long border with Maharashtra, where the virus spread is rapid, Chief Minister K. Chandrashekar Rao said tough steps are needed to ensure that Telangana is […]

India’s fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions

NEW DELHI: India’s fiscal deficit in 2020-21 may shoot up to 6.2 per cent of the GDP from 3.5 per cent government estimate as a fallout of the Covid-19 economic stimulus package, Fitch Solutions said on Wednesday. With businesses disrupted due to the lockdown and its ripple effects, revenue will come under “heavy pressure” and […]

India’s GDP growth slips to 4.7 per cent in December quarterIndia

NEW DELHI: India’s economic growth slowed to 4.7 per cent in October-December 2019, according to official data released on Friday. The Gross Domestic Product (GDP) growth was registered at 5.6 per cent in the corresponding quarter of 2018-19, as per the data released by the National Statistical Office (NSO). During the nine-month period (April-December 2019), […]

India’s GDP is actually 0%, or in negative: Congress

NEW DELHI: Congress national spokesperson Gourav Vallabh on Saturday claimed that India’s Gross Domestic Product (GDP) was not five per cent as was articulated by the NDA government, but 0 per cent or even negative. Speaking at a seminar in the state capital, Gourav Vallabh, who is a finance professional, said that Prime Minister Narendra […]

India dismisses Ex-CEA’s claim, says accepted norms used for GDP estimation

NEW DELHI: Dismissing the contention of former Chief Economic Adviser (CEA) Arvind Subramanian regarding over-estimation of GDP numbers, the government said Tuesday it follows accepted procedures and methodologies for arriving at projections of national income. The Ministry of Statistics and Programme Implementation (MoSPI) also added that its projections of the Gross Domestic Product (GDP) growth are […]

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