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India’s economy is in a “sweet spot,” but a pullback in private consumption is expected to continue, according to Radhika Rao of DBS Bank.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
Biggest gainers on the Nifty included NTPC, ITC, L&T, Britannia Industries and Axis Bank, while losers were Hero MotoCorp, HDFC Life, Wipro, M&M and SBI Life Insurance.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the July-September quarter (Q2) of 2023-24, both at Constant (2011-12) and Current Prices. According to the estimates, Real GDP or GDP at Constant (2011-12) Prices in Q2 2023-24 is estimated to attain a level…
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