gross domestic product (GDP)

Based on inflationary pressures, supply-chain challenges, and geopolitical concerns resulting from Russia’s invasion of Ukraine, the World Bank decreased India’s real gross domestic product (GDP) growth prediction for 2022-23 (FY23) to 7.5 percent from 8%. The multinational agency also cut its global growth prediction for 2022 to 2.9 percent fromContinue Reading

Merchandise exports rise 28% YoY to $34.5 billion in January: Govt data

India’s exports grew at a slower pace in January, after recording the highest-ever monthly outbound shipments of goods in December, showed data released by the commerce and industry ministry on Tuesday. However, exports remained above the $30 billion-mark for the eleventh consecutive month amid a surge in Omicron cases across the globe. Merchandise exports grew 27.54 perContinue Reading

reduce imports in defense sector

The government is committed to reduce imports and promote self-reliance in the defence sector, Finance Minister Nirmala Sitharaman said on Tuesday. She said that 68 per cent of capital for the defence sector would be earmarked for the local industry. Sitharaman also said that 5 per cent of Universal Service Obligation (USO)Continue Reading