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India may soon change the way it measures economic growth

The government is considering moving to the chain base method of calculating gross domestic product.

economy of china

Dec 12, 2019, 01.59 AM IST



Govt clueless on economy, PM left it to ministers to indulge in 'bluff and bluster': Chidambaram

The former Union finance minister, who spent 106 days in jail and was released on bail on Wednesday, said the BJP government believed problems faced by the economy were cyclical even after seven months of this financial year.

RBI keeps policy rates on hold despite economy fears

Many economists had predicted that the central bank would cut the repo rate by 25 bps.

Jaguar Land Rover sales fall 3.4% in Nov

The sales of Jaguar brand were at 11,464 units during the month, down 23.1 per cent per cent from No...

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  • China had imposed the levies in response to tariffs launched by Washington over allegations that China steals and forces the transfer of American intellectual property to Chinese firms, known as Section 301. That includes tariffs of 25% on both US soybeans and pork in July 2018 and a further 10% on pork and 5% on soybeans in September this year.

    "The deal is still close," National Economic Council Director Larry Kudlow told CNBC. "It is probably even a wee bit closer than when I first made that statement in November." He described the talks underway with Beijing as "intense," adding that they occur almost daily. Wall Street has moved up and down with officials' commentary on the chances of sealing a deal.

    The reports on Monday came on the heels of upbeat October data on the goods trade deficit, housing and manufacturing that led economists to boost their gross domestic product estimates for the fourth quarter.

    Subramanian said that there was, needless to say, a slowdown in the economy but it needs to be assessed whether it was structural or cyclical in nature. India’s GDP growth in Q1 of the current financial year, fell to a 6-year low of 5%, while Q2 slowed down further to 4.5%. The Reserve Bank of India has also lowered its GDP forecast for 2019-20 from 6.1% to 5%.

    "Private investment is the driver of economic growth. Steps that we are taking, be it corporate tax rate cut, be it code on wages and industrial relations, is to try and create a more favourable environment for investment," Chief Economic Adviser KV Subramanian said at the FICCI Young Leaders Summit. He said investment is required for a sustained economic growth.

    Despite the slowdown, global carbon dioxide emissions are projected to rise by 0.6 percent in 2019. This increase though substantially lower compared to the previous two years--1.5% in 2017 and 2.1% in 2018—is due to a robust growth in natural gas and oil use. Natural gas has been the dominant driver of global emissions since 2012.

    Spot gold was down 0.2 per cent at $1,473.16 an ounce at 0802 GMT.

    The ADB's quick dispersing special policy-based loan is part of a multi-donor economic reform programme led by the IMF to stabilise Pakistan's economy after a major deterioration in its fiscal position in 2018, according to a statement by the Manila-based regional lender.

    For the year-to-date period, FIIs have invested a net of $13.5 billion in Indian shares.

    'Ache din kab ayenge': AIMIM President Asaduddin Owaisi questions the govt in Lok SabhaAsaduddin Owaisi corners Modi govt on economy, in Par...

    Steady consumption has helped economic growth plod along at an unspectacular but solid 2 per cent.

    The National Bureau of Statistics said Friday the revision reflects more complete measures of the services sector and assets. It raises the possibility China's communist leaders will attain their target of doubling the country's GDP between 2010 and 2020.

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