NEWS FEED
Economic Affairs Secretary Ajay Seth has explained that the Union Budget for FY25 assumed a nominal GDP growth rate of 10.5% to avoid a larger fiscal deficit, emphasizing fiscal prudence. He stated that a higher growth assumption would have necessitated projecting higher revenues, which, if unrealized, could have led to a larger fiscal deficit.
22 Hours ago
The Bank of Canada on Wednesday trimmed its key interest rate by 25 basis points for the second
month in a row, bringing it to 4.5%, and said more reductions in borrowing costs were likely if
inflation continued to cool in line with forecasts.
1 Days ago
The Centre has lowered its gross fiscal deficit (GFD) to GDP ratio target for FY25 to 4.9% from the 5.1% target announced during the interim budget in February. This is also lower than the provisional actual estimate of 5.6% for FY24. Nirmala Sitharaman said that the government plans to bring the GFD to GDP ratio below 4.5% during FY26.
2 Days ago
Economic Survey 2023-24 pegs India’s GDP growth rate for FY25 at 6.5-7% for FY25 amid global
challenges which may impact exports. This is lower than RBI's projection of 7.2%. It further stated
that the Indian economy needs to generate 7.85mn annually in the non-farm sector to cater to the
rising workforce and productivity in the agriculture sector also needs to be improved.
3 Days ago
The Bank of Canada on Wednesday trimmed its key interest rate by 25 basis points for the second
month in a row, bringing it to 4.5%, and said more reductions in borrowing costs were likely if
inflation continued to cool in line with forecasts.
1 Days ago