Tag: India GDP

Moody’s downgrades India’s rating first time in over 2 decades, says GDP to shrink by 4% in FY21

Two other global rating agencies - S&P and Fitch - too has projected Indian economy to shrink by 5 per cent in the current fiscal.

June 2, 2020

India reports GDP growth for January-March quarter at 3.1%; 4.2% for FY20

An economist poll conducted by Reuters had pegged GDP growth at 2.1 per cent in the last quarter of FY 2019-20.

May 29, 2020

Moody’s Investors Service sees India’s economic growth at zero’ in FY21

Analysts across the board have been certain about the heavy economic toll that the pandemic will take on the country

May 8, 2020

Country’s GDP growth rate slips in Q2, but finance minister keeps $5 trillion economy hope alive

The finance minister’s tweet comes a day after government presented country’s gross domestic product growth (GDP) rate for the July-September quarter.

November 30, 2019

India’s GDP growth slips to 4.5% in July-September quarter, lowest in over 6 years

This GDP growth data for the September 2019 quarter is the lowest since January-March of 2012-13

November 29, 2019

India’s GDP growth projection lowered to 7% in 2018-19

"The growth in GDP during 2018-19 is estimated at 7 per cent as compared to the growth rate of 7.2 per cent in 2017-18," said the official data released here on Thursday.

February 28, 2019

North East emerging as biggest contributor to nation’s GDP: Amit Shah

BJP President Amit Shah on Monday slammed the Congress for reducing the North East to the “lowest level of development” and said North Eastern states would soon be the biggest contributor to the nation’s GDP due to “visionary policies” of Prime Minister Narendra Modi. “At the time of independence, the North East had a very...

June 18, 2018

Digital transformation to add $154 bn to India’s GDP by 2021: Microsoft

Digital transformation in the country is expected to contribute about USD 154 billion to India’s GDP by 2021, tech giant Microsoft on Wednesday said. The study by Microsoft and IDC, titled Unlocking the economic impact of digital transformation in Asia Pacific”, said there has been a dramatic acceleration in the pace of digital transformation across...

April 11, 2018

GDP growth to be more robust in 2018-19: NITI Aayog

Unfazed by the official data on Friday showing that the Indian economy will grow at a slower pace compared to the last fiscal, NITI Aayog Vice Chairman Rajiv Kumar has said the GDP growth will become more robust in 2018-19. Kumar’s remarks came after Chief Statistician T.C.A. Anant announced that Indian economy was expected to...

January 5, 2018

‘India’s growth rate to accelerate to 7.2 per cent in 2018, 7.4% in 2019’

Overcoming the slowdown from demonetisation, the growth rate of India’s economy is projected to accelerate from this year’s 6.7 percent to 7.2 per cent next year and 7.4 percent in 2019 making it again the world’s fastest growing major economy, the UN said on Monday. “Despite the slowdown observed in early 2017 and the lingering...

December 12, 2017

PM Narendra Modi thanks people for supporting demonetisation

Prime Minister Narendra Modi on Wednesday thanked the people of the country for supporting his government’s measures to eradicate black money, on the first anniversary of demonetisation. In a series of tweets which included slides and videos, the Prime Minister called demonetisation “a historic and multi dimensional success”, and a “decisive blow” to terrorism and...

November 8, 2017

Note ban has been all pain and no gain: Tharoor

Demonetisation has been all pain and no gain, senior Congress leader and Thiruvananthapuram Lok Sabha member Shashi Tharoor said on Wednesday, summing up the effects of the note ban on its first anniversary. Addressing the media at the state party headquarters, Tharoor said: “Today is a sad day for the country as lots of trouble...

November 8, 2017

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 spends money. “If you look...

November 7, 2017

Unskilled India

One relatively unnoticed victim of the latest reshuffle of the Modi government was the Minister of Skill Development. This ministry was created by the Modi government in 2014 as part of the project of streamlining ministries that went with the slogan of ‘less government, more governance’, whatever that might mean. In the meantime the number...

October 8, 2017

PM ‘singularly responsible’ for damage to economy: Sharma

  Senior Congress leader Anand Sharma today said India was in a real danger of slipping into economic depression and accused Prime Minister Narendra Modi of being “singularly responsible” for the damage by his “reckless” decisions. Sharma, in a statement, demanded that the government release a white paper on the state of Indian economy and...

September 28, 2017

Demonetisation caused 0.4 per cent decline in GDP: Surjit Bhalla

Demonetisation affected the country’s growth rate negatively, which led to GDP dipping to 5.7 per cent in the first quarter of 2017-18, while the Goods and Services Tax (GST) did not have much role in the decline, economist Surjit Bhalla said on Tuesday. Bhalla has been chosen as a part-time member of the Economic Advisory...

September 26, 2017

Economy facing transitional challenges: Arvind Subramanian

Arvind Subramanian, whose term as Chief Economic Advisor (CEA) has been extended by a year, on Saturday said the economy was going through some “transitional issues” and the government was working towards reviving growth. “We do have some transitional issues that we are working through, we will have to see how the economy can overcome...

September 23, 2017