Page 4 - Gdp Forecast

RBI MPC meeting: Key takeaways from Guv Shaktikanta Das' announcements

RBI MPC has decided to continue with the pause on repo rate at 6.5 per cent for the fourth time in a row

Run-up to RBI monetary policy review: Expect another hawkish pause

The surge in the headline CPI inflation has expectedly proved to be transient. The print had cooled off to 6.8 per cent in August 2023 from the 15-month high of 7.4 per cent in July

Morgan Stanley ups India's FY24 economic GDP forecast while BofA cuts

Economists at BofA Global Research, however, cut their estimates as quarterly growth missed their forecast

Moody's ups GDP projection to 6.7% for CY2023 on robust economic momentum

Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. "Given the robust underlying economic momentum, we also recognise further upside risk to India's economic growth performance," it added Moody's said since the second quarter outperformance creates a high base in 2023, "we have lowered our 2024 growth forecast from 6.5 per cent to 6.1 per cent". India's monsoon season which runs from June to October could also see below average rainfall, resulting in higher food prices. So far, as of August 29, the India Meteorological Department has estimated a 9 per cent rain deficiency across the ...

Nomura raises India's economic growth forecast for FY24 to 5.9%

India's Gross domestic product (GDP) expanded a more-than-expected 7.8% on an annual basis in the June quarter, Thursday's data showed, accelerating from 6.1% growth recorded in the March quarter

Economy likely to expand by around RBI's projection of 8% in Q1, FY24

Various analysts that Business Standard spoke to put GDP growth in the range of 7 to 8.5 per cent for Q1 of FY24

Tomato woes: MPC pegs inflation at over 6 per cent in current quarter

Inflation unlikely to fall to 4% target even in Q1 FY25; GDP growth projections kept intact

RBI retains FY24 GDP forecast at 6.5%, raises inflation projection to 5.4%

The RBI on Thursday retained the GDP growth projection for current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to spike in vegetable prices, including tomatoes. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said domestic economic activity is maintaining resilience. He also said the recovery in kharif sowing and rural incomes, the buoyancy in services and consumer optimism should support household consumption. "Headwinds from weak global demand, volatility in global financial markets, geopolitical tensions and geoeconomic fragmentation, however, pose risks to the outlook," Das said. Taking all these factors into consideration, real GDP growth for 2023-24 is projected at 6.5 per cent with Q1 at 8 per cent; Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent. Real GDP growth for Q1 of 2024-25 is projected at 6.6 per cent. On inflation, the governor said the spike in vegetable prices, led

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Four major western banks cut China's 2023 GDP forecast as recovery falters

UBS, Standard Chartered, Bank of America (BoA) and JPMorgan now expect China's GDP growth to be between 5.2% and 5.7% this year, down from an earlier range of 5.7% to 6.3%

Seeking 'accuracy': Govt to come up with fresh logistics cost estimate soon

Initial indications suggest a number lower than 14-16%, says senior official

Domestic GDP growth on firm footing, growth slightly revised upwards: SBI

Country's largest commercial lender State Bank of India (SBI) said that domestic GDP growth is now on firm footing with urban demand showing good traction, while the lagging rural demand is a cause of concern. The apex bank has also revised GDP growth marginally upwards from 6.4 per cent to 6.5 per cent for the current financial year. In its 'Ecowrap' research report, SBI said that the GDP growth forecast of the apex bank RBI for the current fiscal has undergone some change since April 2023. While RBI had projected GDP growth at 6.4 per cent in April, this has been slightly revised upwards to 6.5 per cent for the current fiscal, as announced in the latest Monetary Policy Committee (MPC) meeting which concluded on June eight. Inflation for the current financial year has been pegged by 5.1 per cent by the apex bank, perceived to be above the tolerance band of RBI at four per cent. The report said that the series of rate hikes in the recent past had resulted in falling unemployment r

India planning fewer annual GDP estimates to avoid confusing markets

The proposal is being discussed between the ministries of statistics and finance as well as top officials from Prime Minister Narendra Modi's government

OECD marginally raises India's GDP growth forecast to 6% for FY24

OECD said 2022-23 (FY23) ended on a positive note for India with 7.2% growth, due to higher-than-expected agriculture output and strong government spending

'Headline management' with GDP numbers can't hide economic distress: Cong

Hitting out at the government, the Congress said on Tuesday that "no amount of headline management" with GDP growth numbers and GST revenues can hide the economic distress faced by a majority of Indians as it cited a surge in the demand for work under the MGNREGA scheme. Congress general secretary (communications) Jairam Ramesh said the only time the demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was more was during the once-in-a-century pandemic, reflecting the economic distress in rural India. "The Modi government does a huge song and dance about 'record GST revenues', which is nothing but an expected mathematical reality...but you won't hear the drum-beaters talk about the record numbers of people demanding MGNREGA work in May -- more than 3 crore households," he tweeted. "No amount of headline management with GDP growth numbers and GST revenues can hide the economic distress faced by majority of Indians," he said. He said the rise in

India's FY24 GDP data: Spate of forecast hikes, but not all agree

Some say El Niño conditions may prove to be a headwind for the economy

GDP preview: Why is India likely to retain fastest-growing economy tag

Growth in services and manufacturing and private investment rebound likely to have helped economy in Q4

Advance estimates fail to gauge economy correctly in periods of uncertainty

Advance estimates have varied from actual numbers during 2008 crisis, Eurozone crisis, 'policy paralysis' and Covid lockdown years

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Per capita GDP for Bangladesh higher than India till 2022, says IMF

Despite having the fastest growth, India experienced a contraction in FY21, and growth is expected to slow down during the current fiscal year