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  GDP is expected to decline by 9.5%!     “..If I have the belief that I can do it, I shall surely acquire the capacity to do it…”   The newly appointed Monetary Policy Committee (MPC) with Dr. Ashima Goyal, Professor Jayanth R. Varma and Dr. Shashanka Bhide as external members met on 7th, 8th and 9th October, 2020 in its first meeting and the 25th under the monetary policy framework that was instituted in June 2016.   The MPC evaluated domestic and global macroeconomic and financial conditions and voted unanimously to leave the policy repo rate unchanged at 4 per cent. It also decided to continue with the accommodative stance of monetary policy as long as necessary – at least during the current financial year and into the next year – to revive growth on a durable basis and mitigate the impact of Covid-19, while ensuring that inflation remains within the target going forward. The Marginal Standing Facility (MSF) rate and the Bank rate remain unchanged at 4...

India’s growth trajectory Latest GDP Estimates reflect superior acceleration in India’s growth trajectory says Chairman, EAC-PM. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation released the estimates of Gross Domestic Product (GDP) for the first quarter (April- June) Q1 of 2018-19. As per the CSO, GDP growth rate estimates for April-June 2018 stand at 8.2%. These estimates represent a significant jump from last year’s Q1 growth rate estimates of 5.6%, indicating superior acceleration in India’s growth trajectory. This also validates that the economic fundamentals remain robust. The CSO estimates state that GDP at constant prices was Rs. 33.74 crores for Q1, 2018-19, a rise from of Rs. 31.18 lakh crores and Rs. 29.42 lakh crores for the same period in 2017-18 and 2016-17, respectively. Welcoming this development, Dr. Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister (EAC-PM) attributed this positive trend t...

CSO estimates of India GDP Q1 The   Central Statistics Office (CSO), Ministry of   Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1, of 2018-19, both at constant (2011-12) and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP. GDP at constant (2011-12) prices in Q1 of 2018-19 is estimated at Rs33.74 lakh crore, as against Rs31.18 lakh crore in Q1 of 2017-18, showing a growth rate of 8.2 percent.   Quarterly GVA at basic price at constant (2011-2012) prices for Q1 of 2018-19 is estimated at Rs31.63 lakh crore, as against Rs29.29 lakh crore in Q1 of 2017-18, showing a growth rate of 8.0 percent over the corresponding quarter of previous year. The economic activities which registered growth of over 7 percent in Q1 of 2018-19 over Q1 of 2017-18 are manufacturing, electricity, gas, water supply & other utility service...

India GDP grows 8.2% in Q1 The Central Statistics Office released the estimates of GDP for the first quarter (Q1) of 2018-19.  In line with momentum built in the economy, the growth of GDP in real terms in Q1 of 2018-19 is 8.2 per cent, reinforcing the high growth of 7.7 per cent recorded in last quarter of 2017-18. This growth is broad-based and has been driven by 8.4 per cent growth in consumption expenditure and 10.0 per cent growth in fixed investment. The latter development is particularly encouraging as it has come about over an impressive growth of 14.4 per cent in Q4 of 2017-18 and augurs well for future growth. A look at the GVA in different sector points towards the fact that the growth of agriculture sector in Q1 of 2018-19 was robust at 5.3 per cent on top of 4.5 per cent growth in Q4 of the previous financial year. The growth of manufacturing sector GVA picked up significantly to 13.5 per cent in Q1 of 2018-19, as against negative growth of 1.8 per cent...