Beijing: Tibet’s 2018 GDP has reached $22 billion — about 191 times more than the 1959 figure calculated at comparable prices, said a white paper released on Wednesday by China. The Tibetan spiritual leader Dalai Lama had fled the country in 1959. And in the next 60 years, the hard[Read More…]
Tag: GDP
Government revises GDP growth rate from 6.7 per cent to 7.2 per cent for 2017-18
The government on Thursday revised the GDP growth rate for the year 2017-18 from 6.7 per cent to 7.2 per cent. GDP growth according to Provisional Estimate stood at 6.7 per cent but First Revised Estimate shows to be at 7.2 per cent. The government will release Second Advance Estimates[Read More…]
P. Chidambaram rues death of statistics body
New Delhi: Former Union Minister P. Chidambaram on Wednesday lamented the “death” of the National Statistical Commission (NSC), calling it a “venerable institution” which succumbed to the Centre’s “malicious negligence”. “We mourn the death of the NSC and remember with gratitude its valiant fight to release untainted GDP data and[Read More…]
China’s GDP grows 6.7% in first 3 quarters
Beijing: China’s gross domestic product (GDP) grew 6.7 per cent year on year in the first three quarters of 2018 to about 65.09 trillion yuan ($9 trillion), data from the National Bureau of Statistics (NBS) showed on Friday. The growth was in line with market expectations and higher than the[Read More…]
India’s Q1 2018-19 GDP grows at 8.2%
New Delhi: An upswing in manufacturing activity accelerated India’s GDP growth rate for the first quarter of 2018-19 to 8.2 per cent, official data showed here on Friday. According to the Central Statistics Office (CSO), the GDP at 2011-12 prices in the first quarter (Q1) of 2018-19 registered growth rate[Read More…]
Drastic fall in share of manufacturing in India’s GDP despite Modi’s ‘make in India’
Modi government’s flagship scheme, ‘Make in India’ was launched with the aim to boost the manufacturing sector in India and promote the nation as an investment destination for manufacturers. However, the scheme hasn’t been able to boost up the share of the manufacturing industry. It’s been almost four years since[Read More…]
India surpasses France to become world’s sixth biggest economy
India surpasses France to become the world’s sixth-biggest economy, pushing France to seventh place, as per the updated World Bank figures for 2017. India’s gross domestic product (GDP) was $2.597 trillion at the end of last year, against $2.582 trillion for France. There was a strong economic growth from July[Read More…]
Base years for GDP, inflation calculation to change: Government
New Delhi: The government on Tuesday declared its intent to change the base year for calculation of GDP and retail inflation to 2017-18 and 2018 respectively, likely to come to effect by fiscal 2019-20. The previous base year revision for gross domestic product (GDP), the index of industrial production (IIP)[Read More…]
Rahul Gandhi describes GDP as Modi’s Gross Divisive Politics
Congress President Rahul Gandhi on Saturday attacked the Centre for the economic slump in the country and described “GDP” as the “Gross Divisive Politics” of Prime Minister Narendra Modi. Rahul Gandhi targeted both Modi and Finance Minister Arun Jaitley for the slowdown in investment, bank credit growth, job creation and[Read More…]
Media, entertainment will generate 4 mn jobs in 5 years: Report
The media and entertainment industry will be able to generate both direct and indirect employment of four million jobs in the next four to five years, according to a report. The finding is part of the CII-BCG Report Media and Entertainment – The Nucleus of India’s Creative Economy, to be[Read More…]
GDP increase reflects solid economic management: Amit Shah
BJP President Amit Shah on Thursday hailed the spike in figures on economic growth for the second quarter of 2017 as a “reflection of solid economic management” and said he anticipated more employment generation in the country. “Today’s GDP numbers reiterate the ‘India Unstoppable’ story under PM (Narendra Modi). The[Read More…]
Note ban was to change the way India spends: Jaitley
Mounting a powerful defence of the demonetisation measure designed to curb black money, Finance Minister Arun Jaitley on Tuesday said that as a disruptor of the status quo ante the note ban, along with other measures taken, has set in motion a process of changing the manner in which India[Read More…]
India’s economy will get better very soon: World Bank
In wake of the ongoing economic slowdown of the country, World Bank President, Jim Yong Kim, said that it is an “aberration” caused by temporary disruptions in preparation for the Goods and Service Tax (GST) and asserted that it will be corrected in the near future. Responding to questions on[Read More…]
FY17 started even before demonetisation, says Arun Jaitley on slowdown of GDP
Finance Minister Arun Jaitley indicated that it may take long for the people to know the actual deposits received in old notes post-demonetization. However, he said that there can be no deadline as the RBI has to count deposits in the range of Rs 14-15 lakh crore. “Let us be[Read More…]
Chidambaram slams government, says demonetisation made economy worse
Senior Congress leader P. Chidambaram on Thursday said he was right in predicting slow growth of the economy and that demonetisation made it worse. “I had said demonetisation will affect growth by 1-1.5 per cent. Spot on. GVA down by 1.3 per cent,” said the former finance minister. “The economy[Read More…]
Manmohanomics comes true, GDP slows down post demonetisation
India’s Gross Domestic Product (GDP) witnessed a sharp slowdown of 6.1% in Q4 from 7% in the previous quarter, said the data released by the government on Wednesday. Over the quarters of FY2017, GDP growth has spotted a downtrend from 7.9% in Q1 to 7.5% in Q2 to 7.0% in[Read More…]
India will see normal monsoon this year: IMD
Monsoon will be normal this year, predicted the Indian Meteorological Department (IMD) on Tuesday. The development comes despite lingering likelihoods of the unruly El Nino weather pattern that led to consecutive drought in 2014 and 2015. “India is in for a normal monsoon which will be good for agriculture and[Read More…]
Watch: Tribute to Indian farmers
Agriculture is the backbone of Indian economy. Farmers contribute about 16% of the total GDP. Farmers, who work day and night to feed the nation, are the real warriors. Unfortunately, their trials and tribulations remain largely unattended. According to a report by National Crime Reports Bureau, farmers suicide account for[Read More…]
Even if GDP figures despite demonetisation are true, it is still bad news
Everybody knows that disparities exist in Indian society and economy but that the gap would be so huge has become apparent only now. Actually, only 10 percent of India’s population controls all resources. So much for Sabka Saath Sabka Vikas. Let’s see why: Just when everyone was expecting the demonetization[Read More…]
Things have gone bad to worse: Manmohan Singh on demonetisation
Former Prime Minister Manmohan Singh on Wednesday said that demonetisation has hurt the country very badly and things have gone bad to worst. “Demonetisation has hurt the country very badly. Things have gone from bad to worse in the past few months. Some say the GDP can be as low[Read More…]
Demonetisation to further stall GDP growth, says P Chidambaram
Former Union Finance Minister P Chidambaram on Saturday said demonetisation will further hit the economy with the country’s GDP growth being projected to slow down to 7.1 per cent. Attacking the NDA government over the scrapping of high value notes, the senior Congress leader said the statistics have ‘exposed’ its[Read More…]
GDP growth to slow to 7.1% in current fiscal year: Chief Statistician Anant
Chief Statistician TCA Anant on Friday said India’s economic growth is estimated to slow to 7.1 percent in the current fiscal year ending compared to 7.6 percent last year 2015-2016. “The figures for November were available and examined but it was felt in view of the policy of denotification of[Read More…]
GDP growth rises to 7.3% in July-September from 7.1% in June quarter
India’s economic growth picked up steam in the July-September quarter on strong consumption demand, but Prime Minister Narendra Modi’s surprise currency crackdown earlier this month will likely dent growth in coming quarters. Gross domestic product or GDP growth rose to 7.3 per cent in September quarter, accelerating from 7.1 per[Read More…]
When the ‘most educated’ politician speaks, shouldn’t the PM listen?
Former Prime Minister Dr Manmohan Singh on Thursday launched a scathing attack on the currency ban decision of his successor Narendra Modi. He labelled the decision “a monumental management failure”. Dr Singh, a renowned economist, opened the debate in the Rajya Sabha on demonetisation on behalf of his party. Here’s[Read More…]
Demonetisation will reap structural benefits in the longer run: Reports
The government’s sudden move to demonetise ₹500 and ₹1,000 currency notes will have a transitory impact on GDP growth. According to research by ratings agency CRISIL, the new decision will spell significant strutural benefits over the long term. In the longer run, this move will improve the government’s fiscal position[Read More…]