Talk:Economy of India/Archive 5

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India’s PMI figures are nearly 4 months old

India’s latest PMI figures in march for manufacturing is 59.1 [1] and services is 61.2 [2]

can anyone update it? Nexus Royce (talk) 13:33, 21 April 2024 (UTC)

All Countries Economic Development Policies Amendments Needed for Changes

Hi,All partners and Jv's of institutional at all levels of global economic development.In terms of the challenges of economic growth from country to country as well as superpowers of technologies that's changing overtime to overnights and all shows social problems growth is more than economic development growth.So amendments must and shall force people to challenge the movement of the economy to collapse because more of us/we gone to be educated and no occupational on with all the knowledgeables we gain for us/we/I to implement at all levels of economic development growth and if we/us/I not change and challenge this powerful economic development growth that act against humanitarian and thats limit social goals and thats only enrich the economy ownself that denies changes of and end colonial economic powers thats are no longer help to meet the real status of current economic development grower considerations at all levels.Amooketsi simplicity at all levels of grower of all growers — Preceding unsigned comment added by 41.113.235.252 (talk) 11:11, 27 April 2024 (UTC)

Mumbai Infobox Picture

The picture in the Infobox has been changed again. I believe it was previously established there are no copyright violations for the previous picture but there seems to be a consistent effort to change it to something less grand and less reflective of Mumbai's growing economic clout. Could I please request the picture be changed back to the previous one? 2406:3003:2007:EC3:BD9D:67E1:D058:34ED (talk) 06:01, 1 May 2024 (UTC)

India GDP Figures FY23/24

The GDP figures currently shown on this page are 11 months stale. The page is currently showing figures for Financial Year ending March 2023. We are a month away from close of financial year (march 2024) and for anyone visiting the page the most recent GDP and per capita GDP figures should be shown. The criteria should be which figure would be more useful for someeone viewing the page now? March 2023 or March 2024 Estimate? 2406:3003:2007:4A5:AC3E:D24B:E59C:241D (talk) 08:12, 10 February 2024 (UTC)

The criterium is at Wikipedia:Verifiability, which says that: In the English Wikipedia, verifiability means other people using the encyclopedia can check that the information comes from a reliable source. Its content is determined by previously published information rather than editors' beliefs, opinions, experiences, or previously unpublished ideas or information.

The GDP data in the infobox are supported by a citation to the IMF World Economic Outlook database: October 2023. So we use what the source says.-- Toddy1 (talk) 09:26, 10 February 2024 (UTC)

Thank you for the reply. The same source also has estimated 2024 figures. My contention is that 2024 figures should now be used in the article for both GDP , GDP Per Capital, GDP (PPP) and GDP Per Capital (PPP). 2406:3003:2007:4A5:AC3E:D24B:E59C:241D (talk) 15:00, 10 February 2024 (UTC)

I’m afraid you have misunderstood the original data. FY24 or financial year 2023-2024 ends with 3.732 trillion which is in march 2024. You have updated data of Financial year 2024-2025 which will reach 4 trillion by march 2025. Furthermore, financial year 2024-2025 hasn’t even started yet. Nexus Royce (talk) 09:54, 22 February 2024 (UTC)

If that's the case then change the economy of bangladesh as well. There, the estimates is from 2024. Please, correct it as well. Sak7340 (talk) 18:59, 29 February 2024 (UTC)

Sure, someone should raise their issue in their economy talk page too and let their editors change it. Nexus Royce (talk) 18:09, 13 March 2024 (UTC)

For now, someone should revert the changes back to nominal 2023. The growth rate of FY 2022-2023 is also wrong since it was updated to 7% as per the revision

Also to your point about Bangladesh’s wiki, check again. They have corrected to 2023 figures Nexus Royce (talk) 18:13, 13 March 2024 (UTC)

Bangladesh page lists 2024 estimates. 14.139.192.254 (talk) 06:46, 14 April 2024 (UTC)

The Bangladesh wiki mods are confused and keeps changing it. Anyways, my comment was made in February but now it’s April where India’s financial year 2024-2025 has started. The current stats are just projections but we will get FY24 (2023-2024) official data on May 31st Nexus Royce (talk) 13:20, 21 April 2024 (UTC)

@V952010: before reverting, you should participate in discussion, and provide reliable source. Seems like you're confused. Take a look at this discussion and feel free to ask any question. Dinesh | Talk 13:42, 15 March 2024 (UTC)

This issue has come up again. The source for the data is the International Money Fund's World Economic Outlook database: October 2023.^[3]

• The present figures are marked as 2023.
• Shannu Nadh thinks that it would be better to use the figures in the same source marked 2024.^[4] According to Shannu Nadh, the IMF's 2024 figures represent the Indian financial year FY 2024-25, which starts on 1 April 2024.

The figures in the database for 2024 were a prediction about the future. Wikipedia is not meant to be a crystal ball (see WP:CRYSTALBALL).

On his talk page, Shannu Nadh wrote: No, the values I have mentioned are already in the mentioned source (IMF data), and when it comes to economics, there is not space for past values in the present and future. there is a term called advanced estimates which is used for the current and immediate projections and revised estimates which are used at the end of the fiscal year. The prediction case which you have said would have been true if the data mentioned was forecasting upcoming 2 years. but the data mentioned is in the current year itself and fiscal year of 24-25 which is going to be started in the next 3 days.^[5]

What do other people think? Is is best to have figures for 2023, or an October 2023 prediction about FY 2024-25?-- Toddy1 (talk) 16:34, 27 March 2024 (UTC)

I think the infobox should be updated now to reflect FY 2024-25 figures from IMF.

But I'm inclined for the infobox to be updated after 15 April-2024 because then we would have the data of total Import and Export also.

Regarding the apprehension that some have displayed with regards to IMF figures beign predictions and all. I would like to remind everyone that according to Indian governments own estimates the economy isn't 3.7 trillion dollars it's bit less than 3.7 this data can be seen in the latest GDP data on MOSPI website.

So if we truly want to have pinpoint accuracy then we should use that data and anyways the actual figures regarding the true size of the GDP come with a 2 year lag earlier it used to be 3 but Government scrapped further revision to the estimates after 2 year. DataCrusade1999 (talk) 13:22, 1 April 2024 (UTC)

I think it's better to use stats of a year which has just been finished to be the most accurate. The 2024-2025 data remain as projections Nexus Royce (talk) 12:44, 12 May 2024 (UTC)

Checking which IMF year corresponds to which Indian fiscal year

• pib.gov.in press release: Nominal GDP or GDP at Current Prices in the year 2022-23 is estimated to attain a level of ₹ 272.04 lakh crore, as against ₹ 234.71 lakh crore in 2021-22, showing a growth rate of 15.9 percent.
• IMF database (all fields) October 2023 Gross domestic product, current prices
  • 2020 ₹ 198,299.300 bn
  • 2021 ₹ 234,710.100 bn
  • 2022 ₹ 272,407.100 bn
  • 2023 ₹ 301,054.691 bn
  • 2024 ₹ 333,219.036 bn

i.e. FY2021-22 corresponds to IMF 2021, and FY2022-23 corresponds to IMF 2022.-- Toddy1 (talk) 20:38, 27 March 2024 (UTC)

Semi-protected edit request on 19 March 2024

The current gdp size of Indian economy is 4.11 trillion Usd.

source : International Monetary Fund https://www.imf.org › profile › IND IMF Data Mapper ® — Preceding unsigned comment added by Sadhukha2002 (talk • contribs) 22:40, 19 March 2024 (UTC)

That data is a prediction dated October 2023 for the Indian GDP in FY2024-25.-- Toddy1 (talk) 13:30, 1 April 2024 (UTC)

Yeah, but FY 2024-25 is already started. So, we have to update this estimates. 2402:8100:26E1:592F:F0B2:E112:AC92:65B (talk) 13:59, 1 April 2024 (UTC)

It would be wrong to do so. FY2024-25 started on 1 April 2024. It is much better to have data on FY2023-24. The infobox should summarise simple information about the economy - so nice verifiable figures are much better than predictions about the future.

If you think that predictions belong in the article, there is no harm in having a table showing past, present and predicted future figures in the body of the article, but they need to be supported by citations and clearly labelled (including the date of the predictions). For all I know there will be a new great flood, and the world population will be exactly 2 at the end of the year.-- Toddy1 (talk) 19:57, 1 April 2024 (UTC)

If we are not updating the estimates of the FY-24, then we have to change all the datas of different countries as well, it will become hectic. Please give solution to this issue also. 2402:8100:26E1:592F:F0B2:E112:AC92:65B (talk) 21:05, 1 April 2024 (UTC)

I said this above and I'll say it here too.

I think the infobox should be updated now to reflect FY 2024-25 figures from IMF.

But I'm inclined for the infobox to be updated after 15 April-2024 because then we would have the data of total Import and Export also.

Regarding the apprehension that some have displayed with regards to IMF figures beign predictions and all. I would like to remind everyone that according to Indian governments own estimates the economy isn't 3.7 trillion dollars it's bit less than 3.7 this data can be seen in the latest GDP data on MOSPI website.

So if we truly want to have pinpoint accuracy then we should use that data and anyways the actual figures regarding the true size of the GDP come with a 2 year lag earlier it used to be 3 but Government scrapped further revision to the estimates after 2 year here is the link https://economictimes.indiatimes.com/news/economy/policy/mospi-reduces-no-of-gdp-estimates-timeline-by-a-year/articleshow/108083104.cms?from=mdr. DataCrusade1999 (talk) 13:22, 1 April 2024 (UTC)

True! According to IMF april 2024’s database, our 2023 nominal gdp is $3.57 trillion. We will get the actual data on May 31st Nexus Royce (talk) 13:22, 21 April 2024 (UTC)

Indeed, verifiable figures are much better than predictions since a lot can change in a year Nexus Royce (talk) 12:46, 12 May 2024 (UTC)

Semi-protected edit request on 3 June 2024

Change 7.8% to 8.2% for fy23-24 https://edition.cnn.com/2024/05/31/business/india-gdp-q4-growth-intl-hnk/index.html 2405:201:5400:B00F:35B3:4FDC:D3CF:8EE0 (talk) 06:55, 3 June 2024 (UTC)

 Done Addtional cleaning as well. Regards, Goldsztajn (talk) 05:26, 15 June 2024 (UTC)

GDP growth FY23-24

when will the updated GDP growth will be shown it's not 7.8% it's 8.2% officially, please update Burglaryscott (talk) 17:03, 2 June 2024 (UTC)

Also 7.8% is Q4 gdp of fy 23-24, the official gdp is 8.2% 2405:201:5400:B00F:35B3:4FDC:D3CF:8EE0 (talk) 06:48, 3 June 2024 (UTC)

FY2023 shows -7.2% growth indicating a recession. This is not the case, it is infact +7.2% growth 2001:8F8:1669:7C9:AD1F:4B7C:2DCF:A308 (talk) 21:01, 18 June 2024 (UTC)

 Done Dinesh | Talk 04:12, 6 September 2024 (UTC)

Semi-protected edit request on 30 October 2024

Electrical Equipments 115.187.57.230 (talk) 02:12, 30 October 2024 (UTC)

• It's not clear what exactly you want done. Please make your request in a "change X to Y format". 331dot (talk) 09:55, 30 October 2024 (UTC)

Infobox update

Could somebody please update Inflation data present in infobox? The infobox contains Inflation data of September month and CPI data of October was released & published 2 days ago. Request someone to change 5.49% to 6.21% and, September to October.

This here is the reference too - https://www.ndtvprofit.com/amp/economy-finance/october-cpi-data-indias-retail-inflation-14-month-high-6-21-percent

Thank you. FofS&E (talk) 20:50, 13 November 2024 (UTC)

Semi-protected edit request on 30 November 2024

Add service sector to the sectors of economy section. It makes the chunk of Indian economy 223.226.242.249 (talk) 14:26, 30 November 2024 (UTC)

 Already done It is already present in the article The AP (talk) 17:30, 30 November 2024 (UTC)

Semi-protected edit request on 09 December 2024

change FDI stock in infobox

https://www.livemint.com/news/india/key-investment-destination-fdi-inflows-in-india-cross-1-trillion-11733640297812.html DataCrusade1999 (talk) 04:36, 9 December 2024 (UTC)

India gdp

Accurate nominal GDP $3.8 trillion fy25 Esperblaze (talk) 15:02, 8 January 2025 (UTC)

https://www.imf.org/external/datamapper/profile/IND ( India data sheet 2025 ) Skalvanov (talk) 12:23, 23 January 2025 (UTC)

Change something in Data

At the bottom of the list in data, it says 2019 rather than 2029. Small change but helps clear confusion. ProfessionaIFailure (talk) 19:53, 24 January 2025 (UTC)

Done. Thanks 𝐀𝐃𝐈𝐈𝐈𝐓𝐘𝐀 ♘♞ 07:24, 28 January 2025 (UTC)

Removal of File:Navi Mumbai Maharashtra.jpg

File:Navi Mumbai Maharashtra.jpg The above image claims to show "Navi Mumbai built during pre-liberalization" in the article , however the image is actually shows Raghuleela Mall, Vashi which was constructed in 2008, And also has nothing to do with the Licence-Raj period. I wanted to consult fellow Wikipedians before I deleted it.

[6]https://www.architectrezakabul.com/raghuleelamall#:~:text=Location:%20Navi%20Mumbai%2C%20India,Architecture%2C%20Interiors%2C%20Landscape%2C%20Planning Kygopy (talk) 09:35, 31 January 2025 (UTC)

Semi-protected edit request on 26 March 2025

FX reserves are no longer $700 billion, as of march 14 2025 they are estimated at $654 billion.

Forex reserves need updating! the number given at $700 billion is woefully out of date. The reserves are updated regularly by the RBI yet no action has been taken by the editors of this page since I suspect they’re averse to undertaking such a exercise since it’s clear (by not bothering to update for over 4 months!) they’re happy to keep the pretence that the fx reserves are buoyant and by extension projecting a rosy image of the Indian economy, when in actuality they have declined by nearly $50 billion.

To not provide the most up to date information, even if it doesn’t suit the narrow biases of those who control this page, is to do a great disservice not only to this page but to the reading public, who rely on this platform for factual, non bias and up to date information. Not expecting any action to be taken since it’s clear that the editors are bias in presenting statistics that ‘look nice’ even though they’re factually outdated and thereby mislead the viewing public.

Source:

https://m.economictimes.com/news/economy/indicators/indias-forex-reserves-rise-to-654-27-billion-as-of-march-14/articleshow/119301316.cms#:~:text=India%27s%20forex%20reserves%20rose%20to%20%24654.27%20billion%20for,volatility%20and%20maintain%20orderly%20conditions%2C%20intervening%20as%20necessary. 2A02:C7C:F43F:D100:2D0B:D83A:5CDC:A8AE (talk) 04:23, 26 March 2025 (UTC)

 Done: Wikipedia editor here, We are not here to present biased information. We are here to present accurate information to the people. We always try to update information as soon as possible but surely we are liable to mistakes. Thanks, Warriorglance(talk to me) 06:19, 26 March 2025 (UTC)