Nominal Gdp

Vivek Johri said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends.

India has already become the world's fifth largest economy in the 75th year of Independence and will reach the USD 3.5 trillion mark by end-March, said the Economic Survey tabled in Parliament on Tuesday.

India is likely to peg its nominal gross domestic product (GDP) growth at around 11% in the annual budget next week, marking a slowdown from its estimate

The expected lower nominal GDP growth in 2023-24 on the back of threats of global recession could impact income tax collection, the government source told reporters ahead of the presentation of Union Budget 2023-24 on February 1.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.

"India's nominal GDP measured in USD terms is forecast to rise from $2.7 trillion in 2021 to $8.4 trillion by 2030," IHS Markit Ltd said.

MSME has emerged as the growth engine of the economy with a vast network of about 6.33 crore enterprises contributing 30 per cent of the nominal GDP and 48 per cent to exports, according to RBI Governor Shaktikanta Das

The agency estimates the nominal GDP to grow 14.5 per cent in the next fiscal year and also that a gradual pick-up in revenue collections could lead to an improvement in the capital expenditure

The survey is set to forecast nominal GDP, which includes inflation, will rise 15.4 per cent, the highest since independence in 1947

The National Democratic Alliance government has not defined whether the 5 trillion dollars economy it aims to achieve is real GDP or nominal, senior Congress leader P Chidambaram said on Saturday and claimed real GDP would not touch the figure at the current growth level by 2024 or 2025.

The net market borrowings would be at Rs 4.99 lakh crore in FY 2019-20 and are estimated at Rs 5.36 lakh crore in the next fiscal.

Nominal GDP growth rate (without adjusting for inflation) stood at 8 per cent in the quarter ended June 30, according to official data released in August.

India's $2.2 trillion economy makes it the seventh largest in the world in terms of nominal GDP (and the third largest in PPP terms), but the country's per capita income is less significant.

Some excise exemptions may be taken away, says Jay Shankar of Religare.

Indirect tax revenues grew 37.5 per cent in the first quarter of current fiscal, which reflects a healthy growth in the economy, Chief Economic Advisor Arvind Subramanian said today.

Vivek Johri said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends.

India has already become the world's fifth largest economy in the 75th year of Independence and will reach the USD 3.5 trillion mark by end-March, said the Economic Survey tabled in Parliament on Tuesday.

India is likely to peg its nominal gross domestic product (GDP) growth at around 11% in the annual budget next week, marking a slowdown from its estimate

The expected lower nominal GDP growth in 2023-24 on the back of threats of global recession could impact income tax collection, the government source told reporters ahead of the presentation of Union Budget 2023-24 on February 1.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.

"India's nominal GDP measured in USD terms is forecast to rise from $2.7 trillion in 2021 to $8.4 trillion by 2030," IHS Markit Ltd said.

MSME has emerged as the growth engine of the economy with a vast network of about 6.33 crore enterprises contributing 30 per cent of the nominal GDP and 48 per cent to exports, according to RBI Governor Shaktikanta Das

The agency estimates the nominal GDP to grow 14.5 per cent in the next fiscal year and also that a gradual pick-up in revenue collections could lead to an improvement in the capital expenditure

The survey is set to forecast nominal GDP, which includes inflation, will rise 15.4 per cent, the highest since independence in 1947

The National Democratic Alliance government has not defined whether the 5 trillion dollars economy it aims to achieve is real GDP or nominal, senior Congress leader P Chidambaram said on Saturday and claimed real GDP would not touch the figure at the current growth level by 2024 or 2025.

The net market borrowings would be at Rs 4.99 lakh crore in FY 2019-20 and are estimated at Rs 5.36 lakh crore in the next fiscal.

Nominal GDP growth rate (without adjusting for inflation) stood at 8 per cent in the quarter ended June 30, according to official data released in August.

India's $2.2 trillion economy makes it the seventh largest in the world in terms of nominal GDP (and the third largest in PPP terms), but the country's per capita income is less significant.

Some excise exemptions may be taken away, says Jay Shankar of Religare.

Indirect tax revenues grew 37.5 per cent in the first quarter of current fiscal, which reflects a healthy growth in the economy, Chief Economic Advisor Arvind Subramanian said today.