GDP

Lender's chief economic advisor says projection for economy is clouded by significant uncertainties.

Jobs in the US include 4.2 million teaching jobs, 1.8 million in personal care and service workers, and 900,000 jobs in healthcare.

For FY23, it widens to 2% of GDP against 1.2% in FY22

Elizabeth Economy's book offers insights into how China is reshaping global norms and raises the question of whether it can truly coerce nations with its economic power to serve its own interests

Government data indicates that less than 40 per cent of MSMEs borrow from the formal financial system

The tax reduction on petrol and diesel will lead to revenue loss of around Rs 1 lakh crore per year for the government

The impact of Saturday's excise duty cuts will be Rs 1 trillion for a year, Finance Minister Nirmala Sitharaman had said

Nirmala Sitharaman also expressed confidence that India will continue to achieve a high growth rate in the next financial year as well

In a Q&A, the president of the industry body dwells on how a cut in fuel duties will spur demand, and the impact of interest rate regime on India's FY23 GDP growth

Gross domestic product growth will be 7.6% for FY23 and 6.7% for FY24, 30 basis points lower than the previous estimates, the brokerage said in a note

"In 2019, prior to the pandemic, tourism contributed $3.5 trillion to global GDP. The precipitous drop during the pandemic is estimated to have cost up to 120 million jobs," the UNGA President noted

The share of incremental bank credit in incremental nominal GDP is likely to cross the 50 per cent mark in the current financial year, from a decade low of 27 per cent in FY2022, an SBI report said

Some observers say now is a good time to focus on different metrics than traditional measures of employment, prices and gross domestic product

Price stability is a necessary precondition for strong and sustainable growth, it adds

The divergence in real GDP growth and employment growth may continue into 2022-23, although it could be much smaller

The five largest spenders in 2021 were the United States, China, India, the United Kingdom and Russia, together accounting for 62% of expenditure," the Stockholm based said in a statement

The report has projected government expenditure at 18.4 per cent of the GDP in 2022 and 17.1 per cent in 2023 compared to 18.6 per cent in 2021

It is important to remember that growth had been slowing for five consecutive quarters before 2019-20

'Clearly, states seem to be currently living beyond their means and it is imperative that states rationalise their spending priorities in accordance with revenue receipts,' Ghosh said

Its FY23 projection would still be better than many