This year, govt announced that 2nd and not 3rd revised estimates would be final. Here’s inside story on how this was achieved without compromising on quality of data.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
India’s capital market stood out despite global headwinds. Consumption showed uneven growth. Some high frequency indicators point to resilience in urban demand, but rural demand a concern.
Economy is expected to show same rate of yr-on-yr expansion for 2023-24 financial year, she added, citing impact of improved inflation management & macroeconomic stability.
Higher GDP growth, lower inflation & boost to capex could be among benefits of simultaneous polls, according to paper by 15th Finance Commission chairman N.K. Singh.
And despite a 0.8% contraction in the agricultural sector, the overall Q3 performance has prompted an upward revision in full-year growth estimates to 7.6% in the 2nd Advance Estimates.
In article published in Economic & Political Weekly, he said data from ‘Hindu period’ of 1-1000 AD shows per capita GDP & population growth were both stagnant, no better than world’s.
While boosting capex & rural spending, govt has set fiscal deficit target of 5.1% of GDP, which means Centre will have to borrow less to finance deficit, allowing pvt sector to borrow more.
Govt’s estimates peg economy at $3.57 trillion in 2023-24, which means achieving the $5 trillion mark by next year is nearly impossible. IMF estimates target will be hit by 2026-27.
Indian judiciary has a corrosive imbalance between the bar and the bench. Those who supervise the district judiciary do so without the lived experience that is essential for meaningful reform.
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
Too many assumptions to support ideological narrative.