China’s travails
As China’s rubber-stamp parliament convenes in Beijing, the world watches with a mix of anticipation and concern, dissecting the economic roadmaps and power dynamics laid bare in the highstakes political theatre.
As China’s rubber-stamp parliament convenes in Beijing, the world watches with a mix of anticipation and concern, dissecting the economic roadmaps and power dynamics laid bare in the highstakes political theatre.
Real GDP is estimated to attain a level of Rs 171.79 lakh crore, as against the Provisional Estimate of GDP for the year 2022-23 of Rs 160.06 lakh crore, released on 31 May, 2023.
Modi reiterated that India’s growth story is based on the government’s top priority to policy, good governance and the welfare of the citizens.
The Indian economy emerges as a beacon of resilience, standing strong despite the headwinds of a global economic slowdown.
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The NSO had projected a GDP contraction of 7.7 per cent in 2020-21 in its first advance estimates of national accounts released in January this year.
PHDCI Economy GPS Index was 103 in February 2020, with an improvement of 19 points in February 2021 over February 2020.
The principal factor for accumulating bad loans in the Indian banking system is exaggerated economic growth expectations and over-ambitious projections erroneously or otherwise accepted by lending institutions
1. Governor Das said that the Reserve Bank of India (RBI) expects country’s real GDP growth rate for the first half of FY21 to remain in the negative territory. 2. The MPC expects elevated inflation levels during the second quarter but may ease in the second half of the current fiscal year.
An economist poll conducted by Reuters had pegged GDP growth at 2.1 per cent in the last quarter of FY 2019-20.