The final Budget for the fiscal is likely to be tabled in July after formation of the new government.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
In terms of industries, 16 out of 23 industry groups in the manufacturing sector have shown positive growth during December 2017 as compared to the same month year ago.
In the first quarter of FY14, real GDP growth estimated by the Central Statistics Office stood at 4.4 per cent on a factor cost basis, and at 2.4 per cent on a market price basis, the IMF said.
Factory output as measured in terms of IIP had grown by 7.3 per cent in December 2017.
In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during November 2018.
In terms of industries, 22 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
Indian economy is witnessing stable growth momentum, says OECD.
The manufacturing sector, which constitutes 77.63 per cent of the IIP, contracted by 0.4 per cent in March as compared to 5.7 per cent expansion in the year-ago month.
The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
The previous low at 1.8 per cent was recorded in October 2017.
RBI Governor Raghuram Rajan has noted the contradiction.
Capital goods output rose by a robust 20 per cent in the month under review as against a contraction of 2.4 per cent earlier.
Fruits, vegetables and eggs continued to witness deflationary trend during January this year, with their prices declining 4.18 per cent, 13.32 per cent and 2.44 per cent, respectively.
The previous high was recorded at 7.5 per cent in the July-September quarter of 2016-17.
The CSO said that the first revised estimates for 2016-17 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on May 31, 2017.
Rajan had said that there was lack of clarity about the new method.
Output of capital goods -- a proxy for infrastructure investments in the country -- contracted 1 per cent in July
The NSE index Nifty ended above the 10,500-mark.
Top Sensex gainers include Hero MotoCorp, Bajaj Auto, Asian Paints, IndusInd Bank, HUL, and Maruti, rallying up to 5.87 per cent. While, ICICI Bank, NTPC and ITC slipped up to 0.13 per cent.
Bond markets, global as well as domestic, are likely headed towards hard times over the next three to six months, as higher vegetable prices, rising fuel costs, and improved wages may keep inflation hot, believe analysts, who expect the yields to hit 7.5 per cent in the near-term from the current 7.234 per cent. In this backdrop, they suggest investors can put in money in funds/instruments with residual maturity of 4 to 6 years, while longer-term investors can allocate cautiously to the longer end in the range beyond 7 years.
The Indian economy appears to have slowed down in 2018-19 due to lower private consumption, tepid growth in fixed investment and muted exports, a finance ministry report has said.
India's annual industrial output growth slowed to 4.2 per cent in July compared with an upwardly revised 4.4 per cent growth a month ago, government data showed on Friday.
Central Statistics Office has come out with GVA to measure growth.
It is difficult to reconcile the GDP numbers with other economic indicators.
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Chidambaram said he was particularly happy that agriculture growth has been estimated at 4.6 per cent for 2013-14.
Brokerage house Nomura today said the downward revision of FY'13 growth figure by the Central Statistics Office will have a positive base effect for GDP expansion in the current fiscal.
Retail inflation declined to an 18-month low of 4.7 per cent in April mainly due to falling prices of vegetables, oils and fats, and came closer to Reserve Bank's target of 4 per cent, showed government data released Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The government has tasked the central bank to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
Remonetisation exercise will eliminate cash squeeze by April 2017
'The kind of situation we are seeing...we don't believe that this can happen in a settled democracy like India'
Capital goods, a barometer of investments, showed a sharp increase in output by 14.6 per cent in January, 2018 as against a decline of 0.6 per cent year ago.
The panel noted that the macro-economic fundamentals of the economy are sound but challenges remain, several of which are structural in nature.
India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period, as per the National Statistical Office (NSO) data released on Thursday. India remains the fastest-growing major economy as China's GDP growth in the April-June quarter was 6.3 per cent.
The matter came up before Justice Subramonium Prasad who listed it for hearing on October 16.
'One is happy. The moment one starts criticising the BJP, ED, IT and CBI comes to one's house.'
Retail inflation dropped marginally to 7.01 per cent in June mainly due to slight easing in prices of vegetables and pulses, though it still remained above the Reserve Bank's comfort level for the sixth month in a row. The consumer price index (CPI) based inflation stood at 7.04 per cent in the preceding month of May and 6.26 per cent in June 2021. Inflation in the food basket in June 2022 was 7.75 per cent, compared to 7.97 per cent in the previous month, as per the National Statistical Office (NSO) data released on Tuesday.
The GDP has been estimated at Rs 126.54 lakh-crore (Rs 126.54 trillion).
The central government is likely to further consolidate its fiscal deficit by 50 basis points (bps) to 5.9 per cent in FY24 from 6.4 per cent in FY23, according to a recent report released by Goldman Sachs on Tuesday. In the current fiscal year, there is going to be an upside of 0.5 per cent on the receipts side due to higher nominal GDP growth, and higher tax buoyancy because of the formalisation, the report said. The upside to expenditure is mainly going to come from incremental subsidies (0.8 per cent of GDP), in both food and fertilizer, it said. The upcoming pre-election Budget will carry forward the trend of the increased capital expenditure seen in recent years.
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