NSO pegs India's GDP growth for FY23 at 7%, nominal GDP at 15.4%
13 Jan 23 2 min read
The upward revision in nominal GDP has given the government scope to increase fiscal deficit, while maintaining its proportion to GDP at budget target, CRISIL noted in a release.
Given the latest update on nominal GDP, the government can increase fiscal deficit by ₹97,080 crore, while sticking to budget target of fiscal deficit at 6.4 per cent of GDP, it said.
This will help accommodate additional capital expenditure and subsidies incurred this year.
- Australian GDP sees modest growth in March quarter of 2024
- India’s central bank keeps policy repo rate unchanged at 6.5%
- Turkiye's manufacturing sector experiences pronounced slowdown in May
- Eurozone manufacturing PMI rises in May 2024: S&P Global
- Inflation in Bangladesh rises to 9.89% in May from 9.74% in April
- US imports of industrial textile at $738 mn in Q1, Mexico top supplier
Based on the FAE, real GDP growth in second half this fiscal is expected at 4.5 per cent YoY, down from 9.7 per cent in the first half.
Manufacturing growth is seen rising mildly in second half (3 per cent versus 0.1 per cent).
Private consumption is expected to decline by 0.2 per cent YoY in the second half of this fiscal, after growing 17.2 per cent in the first. Private consumption remains slowest to recover to pre-pandemic levels.
Fibre2Fashion News Desk (DS)
Popular News
|
Artistic Milliners & Germany’s Vizoo partner for material digitisation |
|
ICE cotton continues decline, reversing earlier gains |
|
AkzoNobel plans closure of sites in Netherlands, Ireland & Zambia |
|
Intertextile & Yarn Expo Shenzhen to showcase eco-friendly innovations |
|
Confidence among Dutch manufacturers improves again: CBS |
|
Cotton sowing in north India may drop amid pest concerns, crop delayed |