Gross Domestic Product

The Indian economy is projected to grow at 6.4% in 2024-25, down from 8.2% in the previous fiscal year, according to the National Statistical Office (NSO), which released its first advance estimates for national accounts on Tuesday.

In a significant development, India's economic growth decelerated to 5.4% in the July-September quarter of the current fiscal year, marking its slowest pace in nearly two years. This is a significant drop from the 8.1% growth recorded in the same period last year, as per official data released on Friday.

India alone could see a crippling 24.7% hit to its economy by 2070, according to a new report unveiled in the Asian Development Bank's inaugural "Asia-Pacific Climate Report."

Chief Minister Yogi Adityanath emphasized the strides made in investment and industrial development. He noted that when his government took office in 2017, the investment climate was dismal. However, Uttar Pradesh is now setting new benchmarks for investment.

Earlier, a finance ministry report released ahead of the interim Budget for 2024-25, which was presented on February 1, estimated a GDP growth rate close to 7% for the fiscal year. Additionally, in June, the Reserve Bank of India (RBI) adjusted its growth forecast for FY25 upward to 7.2%, up from its previous estimate of 7%.

Here is a list of some states historically considered among the richest in GDP (Gross Domestic Product) and economic indices.

The RBI also revealed that India's net Foreign Direct Investment (FDI) inflow during April-December 2023 was notably lower at $8.5 billion compared to $21.6 billion in the same period of the previous year.

Despite currently ranking as the world's 5th largest market by market capitalization, approximately US $4.5 trillion, India's representation in global indices remains modest, holding the 10th position with a mere 1.6 per cent weight.

As conflict intensifies in the Middle East region, Israel grapples with a staggering economic downturn, with its Gross Domestic Product (GDP) plummeting nearly 20%. The war's far-reaching impact on various sectors has prompted concerns about the nation's financial stability.

The defense allocation of Rs 6.21 lakh crore focuses on advanced technology, representing 1.89% of the estimated GDP. The budget emphasizes modernization, addressing capability deficiencies, and enhancing self-sufficiency, says Girish Linganna