Page 18 - Economic Growth

Waiting for the states

The future of key economic reforms seems to depend more on the states

India could be in upper-middle income category over FY33-FY36: Ind-Ra

The rating agency reported that India would reach to a $15 trillion economy over financial years 2043-2047

India's shift to transition economy needs financing for equitable growth

A large migration to cities will require focus on urban development

Uttar Pradesh govt acquires around 1,000-acre land near expressways

Yogi Adityanath government is estimated to incur Rs 4,000 crore on acquiring land flanking the expressways, especially at the entry and exit points for faster transportation and logistics

Moody's ups GDP forecast, India to remain fastest growing G20 nation

Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023. The National Statistical Office (NSO) has projected 8.4 per cent growth in December quarter of the current financial year. It has also revised GDP estimates for the first and second quarters to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively. "We expect India to be the fastest-growing economy among major G20 countries, with its real GDP growth to accelerate to around 8 per cent in the fiscal year ending March 2024 (fiscal 2023-24) from 7 per

CRISIL raises India's GDP growth forecast to 6.8% from 6.4% for FY25

On the inflation front, Crisil expects softening to continue in the next fiscal on the back of healthier agriculture output that tames food inflation, and benign oil and commodity prices

Indian economy likely to grow close to 8% in FY24, says RBI Governor

RBI governor says 85% Paytm wallet users won't face disruption

Annual GDP growth for current FY could be very close to 8%: RBI chief Das

Das said rural demand had been improving and was much stronger than a year ago, while urban demand continued to be very strong

Day after Q3 GDP surprise, analysts raise growth forecast for FY25

SBI projected the Indian economy to grow at 8 per cent in FY25

Japan as number four

If the economy's fall to number four is not enough to wake Japan up, it will soon fall to number five

GDP growth in FY24 likely to be within striking distance of 8%: SBI report

The GDP growth for the current financial year could be within striking distance of 8 per cent, a study by the State Bank of India (SBI) said on Friday, a day after India posted an 8.4 per cent growth in the December quarter, and revised upwards the estimates for the preceding two quarters. "The third quarter GDP numbers jolted the psyche and cognitive framework of most in markets, while sweeping some by a pleasant surprise. Clearly, right policy prisms and perspectives can trump irrational expectations bordering fault lines," SBI said in its research report 'Ecowrap'. It noted that defying all estimates, the economy grew 8.4 per cent in the third quarter of 2023-24 after exhibiting more than 8 per cent growth in the preceding two quarters. The buoyancy in indirect tax mop-up (32 per cent year-on-year growth), gap between Gross Domestic Product (GDP) and Gross Value Added (GVA) growth widened. "For fiscal 2023-24 GDP growth is expected to increase 7.6 per cent and GVA growth by 6.9

Three out of five large economies recorded slow growth, shows data

Some larger economies are doing better than others. The United States (US) and China in particular have shown a stronger growth rate in the fourth quarter of the calendar year 2023

GDP growth rate accelerated to 8.4% in Q3FY24; FY24 growth estimate at 7.6%

In the previous quarter, it was 7.6 per cent and 7.8 per cent in the July quarter

India's economic growth probably slipped below 7% in Oct-Dec quarter

"Some moderation is expected in October-December GDP growth, with softer growth in manufacturing sector," said Gaura Sen Gupta, an economist at IDFC First Bank

South Korea keeps shattering own record for world's lowest fertility rate

The number of babies expected per woman in a lifetime fell to 0.72 last year from 0.78 in 2022, according to data released Wednesday by South Korea's national statistics office

G20 finance chiefs' meet: Brazil warns of global economic challenges

He also said the G20 finance leaders are discussing financing for Ukraine to raise pressure on Russia, adding that funds could be mobilized for Kyiv by using proceeds from frozen Russian assets

India's growth, fast delivery new normal for world: PM at global summit

Prime Minister Narendra Modi on Monday said the world no longer feels surprised at India's achievements as it has become a new normal now and they today realise the benefit of walking alongside the country. Earlier the world used to be surprised to see India has done something but it is no longer so and it has become a new normal for the world, Modi said at a global summit organised here by the TV9 News Network. "Growing trust in India has become the biggest recognition for India," he said. Modi also hit out at previous governments, saying those in power till 10 years ago did not have any faith in India's capabilities. It is very difficult to get victory with a mind that has accepted defeat, he added. "They were the people who called Indians lazy. If there is hopelessness in those in power, how can they inspire hope among the people," Modi said. "We have brought the country out of that era of hopelessness," the prime minister said. Now, decisions are taken fast and those decision

Economic growth likely slowed to 6.6% as agriculture lagged: Poll

Strong capital expenditure by the Indian government ahead of a national election due in May was a primary driver of growth in the previous few quarters

Confident of India's growth at 6-8% for next 10 years, says Vaishnaw

Union Minister Ashwini Vaishnaw on Thursday expressed confidence that India will continue to demonstrate a 6-8 per cent consistent growth rate over the next 10 years as he invited global players to the country to tap domestic and global markets. India is open to the world, and to new ideas, Vaishnaw, the Minister of Railways, Communications and IT, said while speaking at Raisina Dialogue 2024. "The Indian economy is growing at a consistent clip at a very good rate. In the next 10 years, India will continue to grow at 6-8 per cent consistent growth rate...I can say that with a high level of confidence," Vaishnaw said. The building blocks for this are already in place and the results are visible, he said, outlining various growth initiatives taken by the government under Prime Minister Narendra Modi. The next five years will further lay the foundation for India to become a developed country by 2047, he said. Vaishnaw said that the focus over the next five years will be on the full .

India's GDP growth to moderate to 6.5% in FY25, projects Morgan Stanley

Morgan Stanley Research's report said that it maintained a constructive outlook on the Indian economy, while highlighting that risks emanate from global factors and elections in May 2024