India's was not the worst performer among large economies in the world
Gross fixed capital formation (GFCF) contracted by 6.48 per cent in Q4FY20. It plunged in Q1FY21 before returning to earlier levels in Q2
With services sector not yet fully functional, consumption spending - private and government - continues to trend lower. However, capital formation did turn around in the previous quarter
'Significant recovery in manufacturing and construction augurs well for the support these sectors are expected to provide to growth in FY22,' says Ministry of Finance
The GDP forecasts do indicate that we are on the right path and in the absence of any serious localized lockdowns can be expected to accelerate with time
Shah said the journey the BJP started five years ago in Assam will continue till the state along with other NE states emerge as the biggest contributor to the country's GDP
India's marine resources remain under-utilised
Once the pandemic is over, the states need to garner more own revenues to spend more on meritorious heads such as education, health and infrastructure
The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday
Here's a selection of Business Standard opinion pieces for the day
Higher tax-GDP is a must for financing security and development
India's GDP is set to revert to the growth territory in the October-December 2020 period compared to the year-ago period, the ratings agency said
The agency's earlier forecast for FY21 was 4.5 per cent. The revision was made due to a sharper-than-expected contraction of 6.1 per cent in the nominal GDP
History will judge this Budget based on whether the Centre's big bet on a public sector borrowing-driven growth revival works out
Budget assures double-digit growth in FY22, but does little for unemployment, inflation, foreign trade and medium-term growth
SBI Research on Wednesday revised its contraction forecast for the current fiscal year to 7 per cent.
Govt must focus on mobilising more revenues
The growth will be primarily driven by the base effect, said India Ratings and Research (Ind-Ra)
Overall fiscal position can increase risks
In this Podcast, we discussed how the Budget will impact finances of senior citizens, non resident Indians, salaried people and the changes in taxation on Ulips and ease of ITR