Page 4 - India Gdp

GDP growth robust on back of healthy balance sheets of banks, says RBI

India's GDP growth is robust on the back of solid investment demand which is supported by healthy balance sheets of banks and corporates, the government's focus on capital expenditure and prudent monetary, regulatory and fiscal policies, the RBI said on Thursday. The Reserve Bank's Annual Report for 2023-24 said that the Indian economy is navigating the drag from an adverse global macroeconomic and financial environment. Indian economy, the report said, is well-placed to step up growth trajectory over the next decade in an environment of macroeconomic and financial stability. "As headline inflation eases towards the target, it will spur consumption demand especially in rural areas," it said. It further said the external sector's strength and buffers in the form of foreign exchange reserves will insulate domestic economic activity from global spillovers. The report, however, added that geopolitical tensions, geoeconomic fragmentation, global financial market volatility, internation

S&P raises India outlook to 'positive' ahead of Lok Sabha poll results

"We forecast India's real GDP growth at 6.8 per cent this year, which compares favourably with emerging market peers amid a broad global slowdown," S&P Global Ratings said

Goldman Sachs ups India 2024 GDP forecast to 6.7%; sees RBI rate cut in Q4

RBI's MPC has sounded caution on sticky food inflation, Goldman Sachs says, owing to supply-side disruptions due to the ongoing hot weather conditions in many parts of India

LS polls: If economy growing fast, why people not prosperous, asks Priyanka

Congress leader Priyanka Gandhi Vadra lashed out at the BJP-led Centre on Sunday, asking why people have not prospered if the country's economy is growing at a rapid pace. Addressing her first Lok Sabha poll rally in Punjab in favour of Amar Singh, the Congress candidate from Fatehgarh Sahib, Gandhi accused Prime Minister Narendra Modi of "speaking lies and making hollow promises to the public only to capture power". At another rally in Chandigarh, she countered the Bharatiya Janata Party's (BJP) charge that the Congress is anti-Hindu, saying her party's philosophy is based on the teachings of the Bhagavad Gita, which has taught people about truth, love, harmony and non-violence. In Fatehgarh Sahib, the Congress general secretary urged people to ensure Singh's victory in the June 1 polls. Hitting out at the Modi government, she claimed that 70 crore youngsters are unemployed in the country and the rate of unemployment is the highest in 45 years. Gandhi said 30 lakh posts are vacan

India's GDP growth in Q4 likely slowed to at least a four-quarter low

NSO to release Q4 growth numbers, FY24 provisional estimates on Friday

India's new govt will be spoilt for choice with $25 bn extra in kitty

On Wednesday, the RBI announced a record Rs 2.11 trillion dividend transfer to the government

India's Q4 GDP growth projected at 6.7%, FY24 growth at 7.8%, says ICRA

Domestic rating agency ICRA on Tuesday projected India's GDP growth to moderate to a four quarter low of 6.7 per cent in March quarter of 2023-24 fiscal. For the full 2023-24 fiscal, ICRA estimates GDP growth to come in at 7.8 per cent. The Indian economy grew 8.2 per cent in the June quarter, 8.1 per cent in the September quarter and 8.4 per cent in the December quarter of 2023-24. ICRA Chief Economist, Head-Research & Outreach Aditi Nayar said the lower volume growth coupled with diminishing gains from commodity prices dampening the profitability of some of the industrial sectors is expected to dampen India's GVA growth in Q4 FY2024. India's GDP expanded 6.1 per cent in the March quarter of 2022-23 fiscal, as per May 31, 2023 estimates. The growth for full fiscal 2022-23 was 7 per cent. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be released on May 31. ICRA, in a statement, said the gap betwee

India's digital economy is growing 2.8x of GDP: Rajeev Chandrasekhar

'We are already the fastest-growing digital economy in the world, and for me, it is clear that we are aiming for a $1 trillion digital economy by 2027-28', he further added

GDP growth rate likely to be 6.7% in Q4, around 7% in FY24: Ind-RA

India Ratings and Research expects the country's GDP growth rate for the March quarter at 6.7 per cent and around 6.9-7 per cent for the 2023-24 fiscal, its principal economist Sunil Kumar Sinha said. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be released by the government on May 31. The Indian economy grew 8.2 per cent in the June quarter, 8.1 per cent in the September quarter and 8.4 per cent in the December quarter of 2023-24. "We are expecting the fourth quarter growth to be 6.7 per cent and the overall GDP growth for FY24 to be around 6.9-7 per cent," Sinha told PTI Videos in an interview. He said the growth rate in the first two quarters benefited from a low base, though the 8.4 per cent growth rate in the third (October-December 2023) quarter was surprising. "When we analyse the data, then what is visible is the wedge between the GVA and GDP. A large impetus to Q3 GDP has come from higher

India to become $4 trn economy in FY25, surpass Japan by FY26: Sanyal

India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world's fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that a 7 per cent economic growth rate will be a 'very good' growth rate for India, given various constraints, including the country's weak exports. "So, this financial year, we will become a USD 4 trillion economy," he said at an event here. Recently, Finance Minister Nirmala Sitharaman said that India is expected to overtake Japan and Germany to emerge as the world's third-largest economy by 2027. Currently, in US dollar terms, India is the fifth largest economy with a size of about USD 3.7 trillion in nominal terms. Sanyal said Japan is now just a little ahead of us at USD 4.1 trillion. "So, either very early next year or even you know this year, we will cross Japan to become the world's fourth largest economy," Sanyal ...

CEO's growth correlation remark not meant to doubt GDP data: Asian Paints

Asian Paints Ltd on Wednesday said its Managing Director & CEO Amit Syngle's comments on correlation between growth in the paint industry and the GDP were not meant to question the sanctity of the GDP numbers. In a clarification shared on the stock exchanges, Asian Paints said Syngle's comments are being "misinterpreted". His comments were in response to a specific query on the correlation between the growth in the paint industry and the GDP, the company said. "In that context, it was mentioned that the correlation of the paint industry growth with the GDP growth is varying, and we are unable to correlate both, unlike in the past," it added. Historically, the paint industry was seen growing in multiples of 1.5 to 1.75 times the GDP growth; of late, this correlation was distorted. "It was, hence, called out that there is a need for examining the GDP data to understand the reasons for this variance," the company said, referring to the recent social media posts and media articles ...

India expects FY25 growth of over 7%, says CEA V Anantha Nageswaran

The possibility of growth touching 8% in the last fiscal year that ended on March 31 is quite high, he added

India global services export to reach $800 billion by 2030: Goldman Sachs

Report says services exports could reach around 11% of GDP by 2030, helping increase demand for top-tier discretionary spending

Indian economy likely to grow 7% in FY24 amid benign global outlook: NCAER

The Indian economy could grow more than 7 per cent during the current fiscal amid a benign global outlook and expected above-normal monsoon, economic think tank NCAER has said. In its April 2024 issue of Monthly Economic Review (MER), NCAER said a range of high-frequency indicators reveal the resilience of the domestic economy with the Purchasing Managers' Index (PMI) for manufacturing at a 16-year high and UPI, the leading digital payments system, touching the highest volume since its inception in 2016. "Projected acceleration in both global growth and trade volumes, as well as a forecast of an above-normal monsoon, indicate that the Indian economy can again attain growth rates higher than 7 per cent during the current fiscal year," said NCAER Director General Poonam Gupta. According to NCAER, Goods and Services Tax (GST) collections reached Rs 1.8 lakh crore in March, the second best since its rollout in 2017, while UPI recorded 13.4 billion transactions (in volume) in March 2024,

India will be $34.7 trn economy by 2047; per capita to be $21k: PHDCCI

The report said that the share of agriculture in total GDP would come down to 12% in FY47

ADB ups India GDP forecast to 7% for FY25 on investments, consumer demand

Supply line disruptions and weather shocks to agriculture are key risks to outlook, says lender

Record household debt: Loans outpace deposits for 3rd year in a row

Debt higher than many BRICS peers, at lower per capita GDP

Morgan Stanley raises India's GDP growth forecast for FY25 to 6.8%

Morgan Stanley expects India's GDP growth to remain robust, with an anticipated growth rate of around seven per cent in the fourth quarter of FY24

Growth of 7% perfectly good unless external enviorment improves: Sanyal

India should be satisfied with the current growth rate unless the external environment improves, Member of Economic Advisory Council to the PM, Sanjeev Sanyal, said on Wednesday, terming economic expansion in the range of 7 per cent perfectly good. Sanyal further said it was necessary to protect the hard-earned macroeconomic stability. "Now look, it is possible for us to hit double-digit growth, but I would actually be rather careful about it. This whole game is about compounding growth," Sanyal said while speaking at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the final three months of 2023, logging the fastest pace in the past one-and-a-half years. The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per cent. "We should not attempt to grow this economy by anything more than what it is growing now. "If the external environment does not dramatically improve, because what will happen then, is that our ...

India's Q3 GDP numbers are 'absolutely mystifying': Arvind Subramanian

Former chief economic adviser Arvind Subramanian on Friday said India's latest GDP numbers are 'absolutely mystifying' and difficult to comprehend. India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 - the fastest pace in one-and-half years. "I want to be honest with you that the latest GDP numbers, I just simply can not understand them. "I say that with genuine respect and things. They are absolutely mystifying. They don't add up. I don't know what they mean," Subramanian said while speaking at the India Today conclave. The NSO has also revised GDP estimates for the first and second quarters of this fiscal to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively. Elaborating further, Subramanian said while the implied inflation in these numbers is 1 to 1.5 per cent, actual inflation in the economy is somewhere between 3 and 5 per cent. "The economy is growing at seven and a half per cent, even though private consum