States budgets can help improve India s GDP projections: SBI Research
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The consolidated fiscal deficit of the Centre and states is thus likely to be around 12.7 per cent of GDP, assuming that the Centre’s fiscal deficit is likely to be undershot from 9.5 per cent to 8.7 per cent of GDP in the current fiscal.
Revenues from goods-and-services and value-added taxes fell more sharply than anticipated in state budgets for the current year, according to SBI.
India’s gross domestic product (GDP) of 8 per cent contraction for FY21 could be narrower if budgeted gross state domestic product (GSDP) estimates of some large states like Uttar Pradesh, West Bengal, Madhya Pradesh and Rajasthan are taken into account, SBI Research said in a note based on findings from extrapolations.
Updated Feb 26, 2021 | 09:08 IST
The median forecast from a Reuters survey of 58 economists predicted the GDP grew 0.5 per cent year-on-year in the December quarter. Q3FY21 GDP numbers today: Will the Indian economy come out of recession? | Photo Credit: BCCL
New Delhi: Data released by the National Statistical Office on Friday (February 26) will reveal whether the economy continued to be in recession in the third (October-December) quarter or it ended with the second quarter only. Also, it will demonstrate the extent of damage the coronavirus pandemic has caused to the Indian economy.
Many economists are of the view that the economy is likely to have returned to growth in the December quarter because of the easing of restrictions on movement and public spending has started growing.
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New Delhi, Feb 14: A Delhi court on Sunday sent a 21-year-old climate activist to five days police custody in connection with allegedly being involved in sharing a "toolkit" on social media related to the farmers' protest.
Soumya Kanti Ghosh, group chief economic adviser at State Bank of India (SBI) said of the 41 high frequency leading indicators, 51 per cent are showing acceleration which should help the economy turn around to the green from the third quarter with a 0.3 percentage point growth which is likely to surprise positively when the final numbers are out.