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What is Gross Domestic Product (GDP)

Gross Domestic Product (GDP)

About Gross Domestic Product (GDP)

What is Gross Domestic Product (GDP)

Gross Domestic Product (GDP) is the final monetary value of the goods and services produced within the country during a specified period of time, normally a year. In simple terms, GDP is the measure of the country's economic output in a year. In India, contributions to GDP are mainly divided into three broad sectors — agriculture, industry, and services. GDP is measured over market prices and there is a base year for the computation. The GDP growth rate measures how fast the economy is growing. It does this by comparing the country's gross domestic product in one quarter with that
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Latest Updates on Gross Domestic Product (GDP)

RBI revises inflation and growth forecasts; holds policy rates

In its first monetary policy announcement of 2022-23, the RBI projected inflation to be at 5.7 per cent this financial year. Real GDP growth for the year estimated at 7.2 per cent

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Updated On : 08 Apr 2022 | 11:52 AM IST

Optimistic scenario: Can growth take care of all the economy's problems?

If the government thinks growth is the solution, can it be delivered in a slowing world with rising rates - within the domestic context of slower growth even before the pandemic, asks T N Ninan

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Updated On : 04 Feb 2022 | 7:56 PM IST

LIVE: This Budget brings more infra, more growth and more jobs, says PM

Budget 2022 LIVE updates: Finance Minister Nirmala Sitharaman presented the annual Union Budget 2022-23 in Parliament today. Follow Business Standard for Budget highlights

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Updated On : 31 Jan 2023 | 11:52 AM IST

Economic Survey 2022 Highlights: Geopolitical risks bubbling up, says PEA

Economic Survey 2022 Highlights: India's FY22 GDP growth is seen at 9.2 per cent and GDP growth for 2023 is projected at 8 per cent to 8.5 per cent, according to reports

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Updated On : 31 Jan 2022 | 4:49 PM IST

Economic Survey forecasts 8%-8.5% GDP growth for FY23 ahead of Budget

Govt finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators during pandemic year FY21, says Eco Survey

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Updated On : 31 Jan 2022 | 2:29 PM IST

India's GDP may grow 9.2% in FY22: First advance estimates

Advance estimates are released to provide the numbers to the finance ministry to work on the Budget for the next financial year

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Updated On : 07 Jan 2022 | 6:02 PM IST

Markets on longest winning streak in 10 months, rise seventh day on trot

Gain for 7th day; shrug off worries about rising yields, oil prices

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Updated On : 19 Oct 2021 | 1:09 AM IST

RBI keeps rates on hold to support recovery, 'sail towards normal times'

Repo rate and the reverse repo rate remain unchanged at 4% and 3.35%

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Updated On : 08 Oct 2021 | 12:25 PM IST

The ultimate scarcity: Overall consumption has stagnated over four years

Economic performance is also affected if large numbers of people are out of work, or at such low levels of income as to force under-consumption, writes T N Ninan

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Updated On : 03 Sep 2021 | 10:32 PM IST

RBI must sacrifice inflation aim to aid growth: Ex-Guv Rangarajan

India will miss its fiscal deficit target of 6.8% of GDP by at least 1 percentage point, he said

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Updated On : 16 Jul 2021 | 7:14 AM IST

30 years after 1991: What we achieved as an economy, and what was possible

India's record has been good, relative to how other countries have done and compared also to its own previous three decades, but well short of what is required and what was possible, writes T N Ninan

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Updated On : 18 Jun 2021 | 10:52 PM IST

Forex has helped avert a currency run, but continuous inflow has its risks

At a time when India is facing stagflation, its forex reserves have helped avert a currency crisis, but there are unintended consequences of accumulating forex. Manojit Saha explains the risks

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Updated On : 18 Jun 2021 | 9:31 AM IST

SBI revises downwards India's FY22 economic growth forecast to 7.9%

As the second wave of Covid-19 and the resultant restrictions again cripple economic activities, the State Bank of India has lowered India's growth outlook for the current financial year

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Updated On : 01 Jun 2021 | 11:58 AM IST

Moody's Investors Service pegs India's GDP growth at 9.3% in FY22

The agency estimated India's economic growth at 9.3 per cent in the financial year ending March 2022 and 7.9 per cent in FY23

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Updated On : 01 Jun 2021 | 11:58 AM IST

India's sovereign rating to remain at current level for next 2 years: S&P

The country will see a slightly faster pace of growth in the next couple of years that will support its sovereign rating: S&P

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Updated On : 07 May 2021 | 11:19 PM IST

Covid-19 fallout: Outdated CPI, GDP may have to wait longer for revision

Revision of CPI and GDP base years from 2011-12 and 2012, respectively, was dependent on the outcomes of the consumer expenditure survey of 2017-18, which the govt junked sometime back

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Updated On : 30 Apr 2021 | 11:28 PM IST

Second Covid-19 wave heightens downside risks to India's GDP, says S&P

The country is already facing a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10% of GDP

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Updated On : 28 Apr 2021 | 11:16 PM IST

Navy outlines plan to quadruple India's blue economy by the year 2050

Ocean-based trade currently contributes about 4 per cent of India's Gross Domestic Product

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Updated On : 23 Apr 2021 | 10:22 PM IST

BS READS: India, Pakistan and the story of lost trading potential

Pakistan's proposal of lifting the ban on cotton and sugar imports from India turned out to be a non-starter. Both countries have a compelling economic case to resume trade ties as soon as possible

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Updated On : 07 Apr 2021 | 10:09 PM IST

Economy since 2009: Fact and Fiction?

While many contemporary economists seem to have lost interest in economic history altogether, those born before 1980 have turned most unbecomingly partisan

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Updated On : 30 Mar 2021 | 11:06 AM IST