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Deloitte India on Sunday projected India's economy to grow at 6.5-6.8 per cent in the current fiscal, with growth expected to strengthen in the second half of the year supported by festive demand, monetary easing, and a gradual stabilisation in global conditions. In its latest edition of Economic Outlook report, Deloitte said India entered 2026 in a Goldilocks phase, with macroeconomic fundamentals appearing unusually well balanced, but geopolitical developments altered the global landscape with tensions in the Middle East disrupting critical shipping routes, triggering volatility in commodity prices and weakening investor sentiment. This resulted in a wider trade deficit, sustained capital outflows, and a sharp depreciation of the rupee against the US dollar within a matter of weeks. Against this backdrop, the RBI had last month lowered India's GDP growth estimates for current fiscal to 6.6 per cent, from 6.9 per cent estimated earlier. GDP grew 7.7 per cent in the previous (2025-2
China's economy slowed sharply to 4.3 per cent in the second quarter, its lowest since 2022, weighed down by stagnant domestic demand and higher energy costs linked to the US-Iran war offsetting the robust export growth. China's gross domestic product (GDP) grew 4.7 per cent year on year in the first half of 2026, generating around 69.57 trillion yuan (about USD 10.25 trillion) in output, the National Bureau of Statistics (NBS) announced on Wednesday. But the world's second-largest economy expanded by 4.3 per cent in the April-June quarter, slowing from 5 per cent growth in the first quarter, falling below China's annual growth target. The first full quarter of GDP data since the start of the US-Iran war in February marks the lowest quarterly expansion since the end of 2022, the period when China emerged from its strict Covid-19 restrictions. The GDP data came a day after official customs figures showed China's exports surged by 27 per cent year-on-year in June, underscoring the ..
The overall debt of the household sector reached 45.5 per cent of the country's gross domestic product (GDP) due to an uptick in non-housing retail loans, according to the RBI's latest Financial Stability Report (FSR). The Reserve Bank of India said the increase in household sector debt was due to rising non-housing retail loans, which constituted 58.4 per cent of total borrowings as of March 2026. Their share has increased steadily over time, consistently outpacing housing loans, agriculture and business loans. Overall, despite the rise in household borrowings, borrower profiles have continued to improve. The share of higher-rated borrowers (prime and above) has increased in terms of both outstanding amounts and the number of borrowers. This improvement is evident across both consumption and productive loans, with a growing share of prime and above borrowers in total outstanding credit, the report said. Household debt as a share of GDP has remained above its five-year average of 42
The United Nations has revised downward India's economic growth forecast for 2026 to 6.4 per cent from its earlier projection of 6.6 per cent, citing global uncertainties and economic shocks arising from the ongoing West Asia crisis. As per the report released by the UN Department of Economic and Social Affairs (UN DESA) on Tuesday, India, however, remains one of the fastest-growing major economies. West Asia crisis has delivered yet another shock to the global economy, slowing growth, reigniting inflationary pressures and heightening uncertainty, it said. Ingo Pitterle, Senior Economist and Officer-in-charge of Global Economic Monitoring Branch, Economic Analysis and Policy Division, UN DESA, said India is "not immune" to current global challenges. "It is a large energy importer and it is also exposed to other channels, for example, remittances, add to some vulnerability. Also, a global financial tightening will make monetary policy more complicated," he added. Pitterle pointed o