GDP: GK, General Studies and Current Affairs

GoI to increase public health care expenditure from 1.15% to 2.5% by 2025

On September 27, 2020, the Union Health Minister Dr Harsh Vardhan announced that Government of India is to increase the health care expenditure in the country by 2.5% of GDP by 2025. Currently, the government is spending 1.15% of GDP to fulfil health care needs. Highlights The increase is being done based on the recommendation ..

Medium Term Growth in India to Remain Undisturbed: IHS Markit

A study published by IHS Markit has projected that the medium-term growth outlook for India is to remain favourable, even though the gross domestic product will tumble in the current financial year due to the coronavirus-induced recession in the country. The outlook is because of the large and fast-growing middle class in India that will ..

GoI to increase Public Health Expenditure to 2.5% of GDP by 2025

On July 13, 2020, the 15th Finance Commission held a meeting with the Union Health Minister Dr Harsh Vardhan. It was decided at the meet that India will increase its public health expenditure to 2.5% of GDP by 2025. Highlights Also, the Health Ministry has revised its requirement to around 6.04 lakh crores from 4.9 ..

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 ..