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.
Apart from these factors, in the new year, food prices will continue to be vulnerable to global uncertainties & weather events, while household borrowings from banks will remain steady.
Speaking at Uttarakhand Global Investors Summit, PM Narendra Modi says he will propel India to 'third-largest economy' in next few years, ‘during his third term in office’.
In October, RBI predicted a 6.5% growth in Q2. The relatively strong performance in Q2 comes on the back of 7.8% growth in Q1, taking growth in first half of the financial year to 7.7%.
Many including Union ministers cited still from YouTube livestream of 'real time GDP data' to celebrate India becoming '$4 tn economy'. But govt data shows claim is unfounded.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Using this technology, IDF carried out fully robotic combat missions, drastically reducing risk to Israeli troops. The robotic combat task force also enhanced situational awareness.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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