The Interim Budget for 2024-25 (FY25) to be presented on February 1 is likely to assume 10-10.5 per cent nominal gross domestic product (GDP) growth against 8.9 per cent estimated for FY24 by the National Statistical Office (NSO). "We were waiting for the First Advance Estimates GDP numbers for FY24. "We will finalise the nominal GDP growth assumption for FY25 Interim Budget in a couple of days.
The growth of eight key infrastructure sectors slowed down to a 4-month low of 8.1 per cent in September 2023 against 8.3 per cent a year ago, according to the official data released on Tuesday. The growth rate in the output of refinery products, fertiliser, cement and electricity during the month under review has decelerated, while it was negative in the case of crude oil. The previous low was in May, when the growth rate of these sectors stood at 5.2 per cent.
Analysts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable. According to Devendra Kumar Pant, the chief economist at India Ratings, the two broad themes of the interim Budget are fiscal consolidation and stepping up focus on agriculture/rural to course correct, to some extent, the differential benefits of the ongoing economic growth that's tilted in favour of upper-income bracket/urban households. The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note.
Ajit Pawar was earlier sworn in as deputy chief minister in the Eknath Shinde government, while eight others, including Walse Patil and Bhujbal, were made ministers, the developments coming after a vertical split in the NCP.
Take a look at the arrivals.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
'The fact that I got noticed in a film that stars Hrithik Roshan and Deepika Padukone is a big high for me.'
Bollywood stars walk the red carpet at the fifth edition of the IWMBuzz Digital and OTT Awards held in Mumbai on June 18.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
If everything goes according to plan, a resuscitated SAD could emerge as a central player in Punjab in three years, notes Aditi Phadnis.
'Money was pouring in after Movers & Shakers. At the turn of the millennium, I was voted one of the top 10 Mumbaikars. People joked that even when they switched off their TV sets, I was there! I would ask God if he was compensating me for the loss of Ayush, the greatest tragedy of my life.'
Aditi takes a selfie... Soha's passion for pink... Preity's wedding flashback...
India's current account deficit declined sharply to 1 per cent of the GDP or $8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD), which represents the difference between the total amount of money sent abroad and money received from overseas across the economy, was 3.8 per cent of GDP or $30.9 billion in the July-September quarter in 2022-23. CAD was $9.2 billion or 1.1 per cent of GDP in the first quarter (April-June) of the current financial year 2023-24.
Indian compound archers continued their winning run and stormed into the final of men's and women's team events to confirm two medals for the country in the World Cup Stage 4, in Paris on Wednesday.
GST collections jumped 15 per cent to nearly Rs 1.68 lakh crore in November, the finance ministry said on Friday. Goods and Services Tax (GST) mop-up was over Rs 1.45 lakh crore in November 2022.
Snapping its declining trend, retail inflation rose to a three-month high of 5.55 per cent in November on firming food prices, including vegetables and cereals, though it remains within the RBI's comfort zone of less than 6 per cent. Inflation based on the Consumer Price Index (CPI) was 4.87 per cent in October and 5.88 per cent in November 2022, the government data released on Tuesday showed. The previous high was 6.83 per cent in August and inflation had been on a decline since then.
Nia goes green... Shanaya has fun in Ibiza... Anusha gets into a bathtub...
This strategy was discussed when Union Home Minister Amit Shah recently visited Mysuru to discuss the BJP's Lok Sabha plan, reports Aditi Phadnis.
Shami was there to receive the honours. He took 24 wickets in seven World Cup games last year.
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
'I joined Heeramandi's shoot right after completing Laapataa Ladies.' 'When I landed on the Heeramandi sets, I was like "Oh my God!" because this was for the first time I was seeing such a huge set in my life.'
The Archies cast of Bollywood's future stars -- Amitabh Bachchan's grandson Agastya Nanda, Shah Rukh Khan's daughter Suhana and Boney Kapoor's daughter Khushi -- were spotted at Mumbai airport to catch a flight to Brazil.
The 44-year-old took charge of the Indian team in December and his contract is up for renewal after the Asian Games.
Following is India's schedule at the Asian Games in Hangzhou, on Saturday, October 7.
Here's a round up of everyone who's someone who attended the GQ Men of the Year Awards held in Mumbai over the weekend.
India's hope for a third medal on Saturday evaporated when Avneet Kaur went down to Hallie Boulton of Great Britain in a shoot-off.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
Mrunal loves silver linings... Sanya wants a vacation... Sara relives Kedarnath...
How Aditi gets her perfect look... Gul has 'raccoon eyes!'... Boman celebrates his wife...
The purple carpet was rolled out for the OTTplay Awards 2023.
The Royal Opera House in Mumbai fusion of a different kind as three dance forms came together.
Priyanka Chopra was delighted at the grand premiere of her international Web series Citadel on April 4.
If she cannot recast the party, bring together the factions opposed to her, and present herself as her brother's true challenger, there will be little left for her in politics, notes Aditi Phadnis.
Following is India's schedule at the Asian Games in Hangzhou on Sunday, October 1.
Growth of eight key infrastructure sectors slowed down to 8.2 per cent in June 2023 compared to the year-ago month due to a decline in the production of crude oil, according to the official data released on Monday.
This Festival of Lights, Sukanya Verma's tips to dazzle like the shiniest folks in tinsel town.
Jyothi Vennam and Ojas Deotale emerged champions in a thrilling archery showdown, securing a remarkable second archery gold medal for India at the 2023 Asian Games in Hangzhou.
A look at the wonderful off-runway world of some of the ramp's popular faces.
