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Early this year, the National Statistical Office (NSO) released the new series of the National Accounts Statistics (NAS). It shows that the manufacturing sector’s gross value added (GVA) is ₹38.6 lakh crore (₹38.6 trillion), constituting 14.7 per cent of GDP (gross domestic product) for the year 2023-24 at current prices. How reliable is the official…
India is all set to launch high frequency dataset to capture the formal segment of the services sector, supporting evidence-based policymaking, amid data quality concerns due to the inherent heterogeneous nature of variables and partial or under coverage of the vast informal segment. Joining the league of Japan, South Korea, China and the European Union,…
Read More “Why does India need an Index of Services Production? | Explained” »
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday (January 31, 2025) noted that while the labour share of GVA (gross value added) shows…
‘In the light of a potential growth rate of 6.5%, the achievement of 6.4% in 2024-25 should not be considered as disappointing’ | Photo Credit: Getty Images/iStockphoto The First Advance Estimates (FAE) of National Accounts for 2024-25 show a real GDP growth of 6.4% and a nominal GDP growth of 9.7%. These numbers have fallen…
Making a flurry of revisions in the economy’s growth estimates, the National Statistical Office (NSO) on Thursday raised India’s real GDP growth esimate for this year to 7.6% from the 7.3% projected last month. It also scaled down its 7.2% growth estimate for 2022-23 to 7%, and raised its 2021-22 estimate from 9.1% to 9.7%….
Economists feel a prolonged conflict in West Asia could push crude oil prices beyond India’s comfort zone. | Photo Credit: Getty Images/iStockphoto The story so far: The Indian economy, measured in terms of the Gross Domestic Product (GDP) as well as Gross Value-Added (GVA), grew 7.8% between April and June (first quarter or Q1) this…
Read More “What’s in store for the economy in second half? | Explained” »