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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
The Japanese economy grew at an annualised rate of 2.1% in the January-March quarter, the government said Tuesday, showing its resilience despite rising energy prices because of the war in Iran. Japan's real gross domestic product, or GDP, the sum value of a nation's goods and services, grew at a seasonally adjusted 0.5% from the previous quarter. It was the second straight quarter of growth. The annualised number shows what the growth, or contraction, would have been if the quarterly rate continued for a year. Increased spending by consumers and businesses helped contribute to the stronger than expected results. Higher government spending also supported the expansion. Private consumption rose 0.3% quarter-on-quarter, or at an annualised rate of 1.1%, according to the preliminary data from the Cabinet Office. Public demand rose 0.3% from the previous quarter. Japan's economy contracted in July-September last year, then eked out moderate growth in October-December of 0.2% on-quarter
India's current account deficit is set to widen to 2.3 per cent of GDP in FY27 from 0.9 per cent in FY26, a foreign brokerage said on Monday. The balance of payments (BoP) deficit is estimated to widen to USD 65 billion in the current fiscal from the last fiscal year's USD 35 billion, it said. HSBC said it has assumed crude prices to average USD 95 a barrel, and combined it with sensitivities in oil, gold, core goods, services trade and remittances to arrive at a current account deficit of 2.3 per cent of GDP in FY27 as against 0.9 per cent in FY26. The BoP forecast has been made after growing through trends in portfolio inflows, FDI flows, and external commercial borrowing (ECBs), it said. The report also looked at forex reserves and opined that the nearly USD 700 billion kitty seems sufficient from the traditional perspective, but suggested the need to look at it from a dynamic perspective, better for the current times of heightened risks amid recurring global shocks. "Using a .
India's economy is projected to grow at 6.6 per cent in 2026-27 fiscal while a comprehensive package is required on the Balance of Payments (BoP) front amid rupee depreciation and higher oil price, an SBI Research report said on Monday. The report said the rupee, which has weakened much in the recent period "through clouds on external macros, as also unabated speculative forces" needs structural changes on BoP front, stream lining the guard rails of import substitution, export competitiveness, integration in global value chain. The rupee has breached the 95-mark against the US dollar that has strengthened due to rising global uncertainties, triggered by the West Asia conflict. "There is now a felt need to put in place a comprehensive package to address Balance of Payments (BoP)," SBI Research said and made a strong case for diaspora bonds. With the country's macro fundamental getting distorted as Brent crude prices hover above USD 100, and transport and insurance costs spiking, the
India's GDP growth may slip to around 6 per cent and retail inflation could rise to RBI's upper tolerance band of 6 per cent in the current fiscal, if the Indian crude basket price averages USD 120 a barrel, EY India said on Wednesday. EY India Chief Policy Advisor DK Srivastava said, although room for policy interventions is limited, policymakers need to consider upward revision in the repo rate and accelerated diversification of sources of crude supply as the price of the Indian crude basket (ICB) may rise further if the West Asian crisis persists. "If the ICB price averages USD 120 per barrel in FY27, India's real GDP growth may slip to about 6 per cent and CPI inflation may increase to 6 per cent... To minimise the adverse impact on fiscal deficit, increased energy prices should be passed on to the retailers to a relatively larger extent," Srivastava said. The April 2026 release of the US Energy Information Administration EIA Short-Term Energy Outlook projects Brent crude oil ..