"The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations. It is likely to be 10.5-11 per cent," a senior government official said.
Nominal GDP, calculated at current market prices, factors in the effect of inflation and is used as the base to calculate crucial macroeconomic indicators, such as tax buoyancy, fiscal deficit, revenue deficit, and debt-to-GDP ratio. A higher nominal GDP assumption makes it easier for the finance minister to show a narrower fiscal deficit print and vice versa. A Business Standard analysis shows in the past 10 years, the Budget had overestimated nominal GDP growth seven times and underestimated it thrice.
In FY20, the final Budget revised the nominal GDP growth target to 12 per cent from 11.5 per cent assumed in the interim Budget.
However, for FY15, despite a change in government, the finance ministry kept the nominal GDP growth rate unchanged at 13.4 per cent.
Denne historien er fra June 26, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 26, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
More upside in Zomato's stock, but competition also rising
The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto). In Q-commerce, Flipkart, Amazon, Reliance and Big Basket are all entering the space. All of them have deep pockets, hence competitive intensity will rise going forward.
India set to join FTSE Russell bond index next year
South Korean bonds to be added to FTSE World Government Bond Index
Mkts erase gains amid sustained FPI selling
India's benchmark indices made positive strides for the second consecutive session on Wednesday, but sustained selling by overseas investors saw them erase their gains.
‘Anxiety as a symptom of anxiety’
Today, as we become our own diagnosticians, a quick Google search is handy but not always warranted. Inevitably, one question leads to an obsessive two hour-long spiral down the rabbit hole that is the internet, whether or not the issue deserves such immediacy. This behaviour is not new, as Caroline Crampton points out in her second book, A Body Made of Glass, although it has been on the rise.
Nomura sees robust growth ahead for domestic AMCS
Forecasts industry AUM to grow at 18% CAGR between FY24 and FY30
The making of AI
Physics Nobel has created a controversy
Unambiguous commitment
MPC wants the disinflation process to be completed
Strategy for GST reforms: Direction and speed
The argument that the tax system has settled and therefore no longer needs reforms is fallacious
Toxic work culture is upwardly mobile
A sewer is the world's least desired workplace. Yet blocked sewers and septic tanks make up the daily place of work for over 700,000 Indians known as manual scavengers, a profession that is officially supposed to be banned in India.
Airbus says deliveries fell 9% in September
Airbus deliveries fell 9 per cent in September to 50 aircraft, compared with the same month last year, the European planemaker said on Wednesday.