Govt's first advance estimates peg India’s nominal GDP growth at 8.9%, lowest since Covid-hit 2020-21 & lower than 10.5% assumed at start of year. This could put pressure on fiscal deficit target.
India's growing at more than twice the speed of global economy, and doing better than any other large economy, but longer-term problems with country's statistical system & data base remain.
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.
According to International Monetary Fund’s World Economic Outlook, Indian govts spend about 28% of GDP, which is more than many countries. But greater spending hasn't delivered better infra.
Visiting Professor Ashoka Mody says India chose to ‘dismiss inconvenient truths’ about GDP data to look good. Where was criticism when the economy tanked during COVID, asks govt.
It is always a good idea to see if survey results are consistent with other indicators of the economy. The problems of measurement make it difficult to do this in India.
Brij Disa Centre for Data Science & Artificial Intelligence report says top 500 Indian companies can add Rs 1.5-2.5 trillion in incremental pre-tax profit over 5 yrs by successful adoption of AI.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
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