The trade deficit decreased to USD 52.6 billion from USD 71.3 billion in the previous quarter, which was primarily responsible for the sequential decline in CAD in the fourth quarter of the previous fiscal year. Additionally, robust service exports contributed to the decrease in CAD.
Shaktikanta Das had said around Rs 1.8 lakh crore worth of the Rs 2,000 notes in circulation had been returned, with the remaining balance being exchanged for deposits and deposits of 8 lakh crore.
The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said.
The governor of the RBI stated that the Indian economy had experienced rapid growth and had gradually integrated into the global economy over time.
Gene Fang, Associate Managing Director of Moody's Investors Service, stated in an interview with PTI that India's general government debt will be approximately 81.8% of GDP in 2022 and 23 and that the country will have low debt affordability.
Nageswaran said that the "heartening achievement for the government and economy" of 7.2% GDP growth when he spoke at this event hosted by the Bharat Chamber of Commerce.
Pakistan economic growth: The report forecasts the growth in the region to slow marginally in 2023, to 5.9 per cent, and more significantly in 2024, to 5.1 per cent.
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The Union Territory of Jammu and Kashmir has been allocated a budget of ₹1.18 lakh crore for the year 2023-24, with a focus on rural housing and providing water tap connections to households.
China increases its defence spending by 7.2% in 2023, with Premier Li Keqiang calling for the armed forces to boost their combat preparedness to fulfill major tasks.
After getting slowed down in a fairly broad-based manner post the festive season in October which raised investors concern, the Indian economic indicators have once again started showing signs of re-acceleration in early 2023, a report said.
The Economic Survey provided a variety of statuses of the Indian economy and provides thorough statistical data on several sectors and how they performed in the previous year.
If the forecast comes true, India's GDP growth will be lower than Saudi Arabia's expected 7.6 per cent expansion.
In October, it had cut India's GDP growth forecast to 6.5 per cent from 7.5 per cent earlier. Now, it has upgraded the projection to 6.9 per cent for 2022-23 (April 2022 -March 2023).
India GDP: India remained the fastest-growing major economy as China registered an economic growth of 3.9 per cent in July-September 2022.
This is the second time that Moody's Investors Service has cut India's growth estimates. In September, it had cut projections for the current year to 7.7 per cent from 8.8 per cent estimated in May.
Inflation: According to the data, inflation in food basket was 7.62 per cent in August, up from 6.69 per cent in July and 3.11 per cent in August 2021.
Mine sector output: Observing that the states are the ones that would implement on the ground whatever policies and laws are made at the Centre, Coal minister Pralhad Joshi said the conclave has been organised in line with the central government's philosophy of 'Sabka Saath, Sabka Vishwaas'.
The announcement comes weeks after rival billionaire Mukesh Ambani announced a fifth Giga factory as part of an investment in low carbon energy.
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