gdp growth

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The International Monetary Fund (IMF) has slashed India's growth rate to 4.8 per cent for the current financial year. In October, the IMF had estimated the growth rate at 6.1 per cent.

The spike in retail inflation is attributed to high food prices. This also marks a spike in inflation from November when the retail inflation was 5.54 per cent.

"Today, those who are commenting on a temporary phase ... don't get disheartened by it ... I am here to tell you that $3 trillion is not our destination. In 2024, India will achieve goal of $5 trillion economy," Amit Shah said.

This is an annual exercise done by Niti Aayog before the budget. Last year, Prime Minister Modi had a meeting with top 40 economists of the country in June, said an official statement.

Besides, the GDP growth has been forecast to dip to an 11-year low of 5 per cent in the current financial year, mainly due to poor performance by the manufacturing and construction sectors.

"We do have a lot of respect for you, but sometimes we wonder if it wouldn't be more apt to address you as 'Nirbala' Sitharaman instead of Nirmala Sitharaman," said Chowdhury in the Lok Sabha.

Private sector has not announced any major investment after recent corporate tax cut and therefore abolishing DDT at this point of time may prove to be counter effective.

The slowdown in Q2 FY20 was largely due to a sharp dip in the manufacturing sector and agriculture output, said the Ministry of Statistics and Programme Implementation in a statement.

The government is due to release data on gross domestic product (GDP) on Friday evening. For the first quarter of current financial year, GDP growth came in at a more than six-year low of 5 per cent.