​GDP surprises at 7.6% for Q2, experts expect higher FY24 growth

​GDP surprises at 7.6% for Q2, experts expect higher FY24 growth

The Indian economy kept its momentum, growing nearly a percentage point higher than expected at 7.6% in the second quarter, buoyed by the manufacturing and construction sector, with experts suggesting an upside to the full-year number. “Given the higher than forecast outcome for Q2, we are revising our FY2024 growth forecast to 6.2% from 6.0%,” … Read more

S&P sees growth crossing 6% on domestic uptick, private capex

S&P sees growth crossing 6% on domestic uptick, private capex

The ratings firm has projected inflation to hit 5.5% this year, up half a percentage point from its previous forecast. Earlier this week, S&P retained its forecast for India’s economic growth at 6% for FY24 and 6.9% for the subsequent two years. “The risks are fairly balanced, especially on growth. In fact, growth could come … Read more

Tax collection in India one of the highest, reduce direct tax to 25 pc from 40 pc: Surjit Bhalla

Tax collection in India one of the highest, reduce direct tax to 25 pc from 40 pc: Surjit Bhalla

While India is not the richest country in the world, the tax collection here is one of the highest and the income tax rate should be reduced to 25 per cent from around 40 per cent at present, eminent economist Surjit Bhalla said. While speaking to PTI, Bhalla said reduction in tax rate is required … Read more

Our main focus is to strengthen our balance sheet: Saurabh Chawla, GMR Infra

Our main focus is to strengthen our balance sheet: Saurabh Chawla, GMR Infra

“It is a large market and as India’s economic growth gathers steam as per capita income goes above $2500, there will be an increase in movement and shift from rail travel to air travel and we want to capture that opportunity for sure,” says Saurabh Chawla, GMR Infra. After the last few years of restructuring, … Read more

ETMarkets Smart Talk: India remains an ocean of outperformers in terms of economic growth: Siddharth Oberoi

ETMarkets Smart Talk: India remains an ocean of outperformers in terms of economic growth: Siddharth Oberoi

“We believe India remains an ocean of outperformers in terms of economic growth. With a massive increase in per capita consumption of just about every product and service expected going forward, one can do best to bet on India at this point,” says Siddharth Oberoi, Founder of Prudent Equity.In an interview with ETMarkets, Oberoi who … Read more

Odisha’s economy to grow by 7.8 % during 2022-23: Economic Survey Report

Odisha’s economy to grow by 7.8 % during 2022-23: Economic Survey Report

Odisha’s economy is estimated to grow by 7.8 per cent in real terms against the national rate of 7 per cent during the current financial year 2022-23, the state’s economic survey report said. The state is also poised to register a growth in the range of 8 to 8.5 per cent in 2023-24 in real … Read more

G20: Urbanisation must be instrument of job creation, poverty elimination, says Amitabh Kant

G20: Urbanisation must be instrument of job creation, poverty elimination, says Amitabh Kant

India’s G20 Sherpa Amitabh Kant on Thursday said successful cities are fundamental to a successful nation, underlining that urbanisation must be an instrument of growth, job creation, and elimination of poverty. Speaking at the inaugural session of the two-day Urban20 City Sherpas’ inception meeting here, Kant said cities must be designed for cycling, walking and … Read more

The US economy grew by 2.9% in the fourth quarter, more than expected | CNN Business

The US economy grew by 2.9% in the fourth quarter, more than expected | CNN Business

Minneapolis CNN  —  The US economy expanded again during the fourth quarter, registering solid growth to end 2022 even as consumers and businesses battled historically high inflation and rising interest rates. Gross domestic product — the broadest measure of economic activity — increased at an annualized rate of 2.9% from October to December last year, … Read more

Xi Jinping estimates China’s 2022 GDP grew at least 4.4%. But Covid misery looms | CNN Business

Xi Jinping estimates China’s 2022 GDP grew at least 4.4%. But Covid misery looms | CNN Business

Hong Kong CNN  —  China’s economy grew at least 4.4% in 2022, according to leader Xi Jinping, a figure much stronger than many economists had expected. But the current Covid wave may hobble growth in the months ahead. China’s annual GDP is expected to have exceeded 120 trillion yuan ($17.4 trillion) last year, Xi said … Read more

Regional imbalance in economic growth in TN  is of a lower degree: report

Regional imbalance in economic growth in TN  is of a lower degree: report

The regional imbalance in economic growth in Tamil Nadu is of a lesser degree when compared to other States. This has been possible primarily due to the conscious spread of public utilities such as education and healthcare to all villages in the State, according to a study on ‘Regional Growth Pattern in Tamil Nadu’, undertaken … Read more