GDP: GK, Current Affairs, Questions, Trivia and News

Uttar Pradesh: FRBM Ordinance, 2020

On June 22, 2020, the Uttar Pradesh Government announced that it will bring in an ordinance, “UP Fiscal Responsibility and Budget Management”, FRBM Ordinance, 2020. This is the second amendment being made to the act by the state government under CM Yogi Adityanath. Highlights By making the amendment, the Uttar Pradesh State Government will be ..

CRISIL pegged India’s Growth Rate for FY21 at 1.8%

CRISIL, the rating agency, recently pegged India’s growth rate at 1.8% for FY21- a downgrade from an earlier estimate of 3.5%. Recent Predictions CRISIL, the domestic rating agency, cut down its projections for economic growth in India for FY21 from the earlier 3.5% to 1.8%. However, among the major economies, India and China are the ..

India’s CAD narrows to 0.2% in December quarter

As per the recent notification of the Reserve Bank of India, Current Account Deficit (CAD) was 0.2% of GDP in December quarter when compared to 0.9% of GDP in the September quarter. It also stated that the CAD narrowed to 1% of GDP in April to December of 2019-20 when compared to 2.6% in April-December ..

GDP estimated 5.0 per cent in First Advance Estimates of National Income 2019-20

In accordance with the release calendar of National Accounts, the First Advance Estimates of Gross Domestic Product (GDP) was released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation on Tuesday, 7th January 2020, the corresponding estimates of Expenditure components of GDP was implemented along with the First Advance Estimates ..

China to have Unified National and Local GDP Accounting Method from 2020

From 2020, the People’s Republic of China will revise the way it used to calculate the Gross Domestic Product (GDP) or the economic output data. Since 1985, different accounting methods have been adopted by the authorities at the local and national levels for formulating the GDP figures in China. The unification of the GDP numbers ..

GDP at 4.5% in Second Quarter(July-September), Lowest in 25 Quarters

The Gross Domestic Product(GDP) of India has now been declining for five straight quarters in a row, falling by 0.5 percent from the first quarter of 2019-20 to 4.5 percent in the second quarter, registering the slowest and lowest growth rate since the final quarter of 2012-13. The further decline in the GDP during the ..

NITI Aayog says Nominal Growth of 12.4% Annually for $5-Trillion GDP

NITI Aayog CEO Amitabh Kant informed the Standing Committee on Finance that Gross domestic product (GDP) as per current prices without accounting for inflation the growth measure has to be at least average 12.4% annually for the next five years to achieve the target of $5-Trillion economy by 2024-25. The current rate in the first ..

Nomura’s Food Vulnerability Index ranks India at 44th

A report published by Japanese Nomura Global Market Research have ranked 110 countries in Nomura’s Food Vulnerability Index (NFVI) 2019 on the basis of three components (1) Net food import, (2) Country’s Gross Domestic Product (GDP) per person and (3) Share of food on household consumption. Theoretically, a country with lower per capita GDP will ..