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India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining and services sectors, the government data showed on Thursday. The gross domestic product (GDP) expanded by 6.2 per cent in the July-September quarter of 2022-23. India remained the fastest-growing major economy, as China posted a 4.9 per cent growth in July-September 2023.

The GVA growth of the manufacturing sector accelerated to 13.9 per cent in the second quarter of the current fiscal against a decline of 3.8 per cent a year ago

The government is confident in meeting the budgeted 5.9% fiscal deficit target for the current fiscal year, despite the extension of the free ration scheme. Finance Secretary T V Somanathan stated that the decision to extend the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) doesn't deviate from the fiscal consolidation path. The scheme, providing 5 kilograms of free foodgrains monthly to 81.35 crore poor people, was extended for another five years at a cost of approximately Rs 11.80 lakh crore. The fiscal deficit for April-October stood at Rs 8.03 lakh crore, constituting 45% of the full-ye...

The Federal Government on Thursday freed 150 inmates from the Maximum Security Custodial Centre Janguza in Kano State. Dr Olubunmi Tunji-Ojo, the Minister of Interior, made this known in Kano while releasing the inmates in Kano. Tunji-Ojo, represented by the Assistant Director in the Ministry of Interior, Dr Anayo Romanus-Nzekwe, said the release of 150

In absolute terms, the fiscal deficit between April and October this year stood at ₹8.03 lakh crore against ₹7.6 lakh crore a year ago. The government has pegged FY24 fiscal deficit at 5.9% of the GDP or ₹17.8 lakh crore. A 15% year-on-year decline in capital expenditure (capex) in October helped contain the fiscal deficit at the end of seven months. Capex expanded 33.7% in the April-October period, data showed.