Retail inflation in March inched up to 8.31 per cent from 8.03 in February, mainly on account of a rise in fruit and vegetable prices.
Indian IT-BPM industry raked in revenues of $119 bn in 2014-15.
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
The GDP has been estimated at Rs 126.54 lakh-crore (Rs 126.54 trillion).
On one hand, Operation Greens should help to smoothen volatility in the prices of vegetables, whereas the proposal to enhance and extend minimum support prices to augment farmer incomes, may emerge as an inflation risk.
The April-June quarter GDP slipped to 7 per cent from 7.5 per cent.
'Given that the economy is going through a slowdown, further downward revisions of the 2019-2020 growth estimates cannot be ruled out,' notes A K Bhattacharya.
The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by the Reserve Bank for the current fiscal.
India's economic growth slowed to 7 per cent in the three months through June from 7.5 per cent in the previous quarter
In December, govt had lowered its growth forecast for 2015-16 to 7-7.5%
The output, as measured by the Index of Industrial Production, had contracted by 2.5 per cent in the same month of last year.
The First Advance Estimates of National Income, 2016-17 did not reflect the impact of demonetisation, effected on November 9 and are based on sectoral data for only seven months to October.
This kind of growth will turn India into a $8 trillion economy.
The positive numbers raises hopes of recovery.
The manufacturing sector, a key indicator of economic activity, grew 10.6 per cent year-on-year in October.
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The growth has not been very robust in the first two financial years of the 12th Plan.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
The GDP slumped to a three-year low lagging China for the second straight quarter -- as manufacturing slowed ahead of the GST launch amid demonetisation effect.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
For the entire 2015-16 fiscal, the factory output grew at 2.4 per cent, down from 2.8 per cent in the previous fiscal.
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The marginal improvement in the index of industrial production was mainly on account of higher power generation and mining sector output, while manufacturing declined.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
A day after masked goons entered Jawaharlal Nehru University and ran riot, injuring over 36 people with sticks, lathis and hammers, noted economist and professor C P Chandrasekhar resigned from a Narendra Modi government-appointed committee on statistics. The committee was set to hold its first meeting to review India's economic data. In his resignation letter, Professor Chandrasekhar wrote, "I regret to inform you that because of the situation in JNU where I stay, I will be unable to attend tomorrow's meeting." He was also quoted as saying, "The JNU's incident on Sunday has further undermined the faith in the system. It shows that we are now living in a different world and it's hard to work with a government in which you have lost faith."
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
This is mainly due to GST impact on manufacturing and subdued farm output.
Govt has drawn list of PSUs for strategic sale: Jaitley
The change in the baseline for IIP and WPI, currently at 2004-05, is expected to bring in more accuracy in mapping the level of economic activity and calculating other numbers like national accounts.
As against an annual average growth of 10-11 per cent envisaged for the industry during the period, the actual annual average growth stood at 7.2 per cent during the plan period.
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
Growth in India is expected to remain strong and stable in 2015
the GDP estimates incorporate new source data and modified compilation techniques
Agriculture implements that are currently taxed up to 18 per cent may come under the 12 per cent or the 5 per cent bracket.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
'Whatever happens in any part of the world affects us.'
The National Council of Applied Economic Research (NCAER) on Thursday lowered the GDP projection for the current fiscal to 4.7-4.9 per cent due to exchange rate depreciation.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
This time there has been a rather peculiar criticism of the latest GDP numbers.
Industrial production growth slowed down to five-month low of 0.4 per cent in August mainly due contraction in manufacturing output and lower offtake of consumer goods.
RBI projects GDP growth in FY16 at 7.8 per cent, 30 bps higher than FY15. However, this comes with a downward bias.
