Page 9 - Economic Growth

S&P Global cuts India's GDP growth forecast to 6.7% for FY26, 6.8% for FY27

S&P Global Ratings on Monday revised down its estimate for India's economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand. In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent GDP growth rate in 2025-26 financial year (April 2025 to March 2026) and 6.8 per cent in the following fiscal year, down from 6.9 per cent and 7 per cent, respectively in previous projections. For FY25, S&P Global pegged GDP growth rate at 6.8 per cent. "In India we see GDP growth easing to 6.8 per cent this fiscal year as high interest rates and a lower fiscal impulse temper urban demand. While purchasing manager indices (PMIs) remain convincingly in the expansion zone, other high-frequency indicators indicate some transitory softening of growth momentum due to the hit to the construction sector in the September quarter," it said. The agency expects India's GDP to

India ready for global challenges, set to be third-largest economy: Goyal

The Indian currency has held its position as one of the least volatile among major currencies, and the forex reserves stand at about $675 billion-among the five largest in the world, the minister said

Heady to steady: Economic growth slows but becomes more broad-based

Using the widest variety of data available should give a more thorough picture of growth trends

Pvt consumption back, medium-term economic outlook bullish: RBI Bulletin

Record production estimates for kharif foodgrains as well as promising rabi crop prospects augur well for farm income and rural demand, going forward

Manufacturing slump likely to hit India's Q2 GDP growth to six-quarter low

During the June quarter of FY25, the economy grew 6.7 per cent

Key to Maharashtra's growth: Focus on boosting major economic centres

The underperformance of the state is largely due to its key economic centres, not letting the state take advantage of its underlying strengths

Where next for Asian economies? Clearsighted reforms key for durable growth

In the case of India, this transition of employment has been relatively slow: the share of agricultural employment is higher and has been slower to fall than in many emerging economies

BS BFSI Summit: Tracking food inflation as well as US Fed, say economists

BS BFSI Summit: While food inflation is a prominent factor in India's economic policy, global influences, particularly from the US Fed, cannot be overlooked, say economists at Business Standard summit

Governance failures, poly-crisis highlight limits of global economic models

Economics must move out of the mathematical measurement boxes in which it has entrapped itself

Increasing costs: The impact of climate change on output will be large

Over 90 per cent of solar projects in the country achieved investment-grade ratings by 2020, a significant improvement from 2012, when all solar projects were rated "non-investment grade"

Indian economy expected to follow its natural course of modest growth

India's economy has long been characterised by modest growth cycles, rarely experiencing recession, but also failing to achieve sustainable acceleration

Inflation debate: Current target holds merit, but 4% midpoint needs teeth

In inflation-averse Indian polity, people complain about high inflation and high prices all the time. Thus, there may also be handsome electoral dividends from low inflation

Can China navigate the storm? New economic hurdles may test resilience

While it has successfully weathered economic challenges before, this time is different

Air connectivity policy to boost tourism, economic development in Rajasthan

The Federation of Hospitality and Tourism of Rajasthan (FHTR) also recently raised this demand with the state's Deputy Chief Minister and Tourism Minister Diya Kumari

UK PM asks for judgement on tackling 'unprecedented' challenges in budget

Starmer, whose Labour Party won a landslide election victory in July, has said generating growth is his number one priority, but he said that the situation was different to previous scenarios

This is right time to join India's growth story, PM tells German biz forum

Inviting German businesses to invest in the country, Prime Minister Narendra Modi on Friday said there is no better place for investment than India and this is the right time to join the country's growth story. Addressing the 18th Asia-Pacific Conference of German Business 2024 here, the prime minister emphasised that the time was 'right' for foreign investors to participate in India's growth story, join 'make in India' initiative and 'make for the world'. He also said the confidence that Germany has expressed in India's skilled manpower is amazing as the European nation has decided to increase visas for the skilled Indian workforce from 20,000 to 90,000. "This is the right time to join India's growth story... India becoming a global trade and manufacturing hub," Modi said, adding, today India stands on strong pillars of democracy, demography, demand and data. He further said that India is doing record investments in roads and ports and the Indo-Pacific region is very important for

India's economic growth an example for many Brics nations, says Putin

Russian President Vladimir Putin on Wednesday lauded India's economic growth, saying the country serves as an example for many BRICS nations. Putin made the remarks in his address at the 16th BRICS Summit in the Russian city of Kazan, where he thanked Prime Minister Narendra Modi for his participation in the three-day summit. "All of us talk about the need to ensure high economic growth rates; you (Modi) manage to do this successfully," Putin was quoted as saying by the state-run TASS news agency. "We congratulate you on these results 7.5% growth; this is an example for many of us, he noted. Thank you for your initiatives, Putin added. India's economy is expected to be 7 per cent this year and 6.5 per cent in 2025. BRICS, consisting of Brazil, Russia, India, China and South Africa, has now expanded with five additional members - Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. Putin's remarks came as a senior official from the International Monetary Fund said that India remains

Robust domestic engines supporting India's growth outlook: RBI Bulletin

India's growth outlook is supported by robust domestic engines and private investment showing some encouraging signs despite geopolitical tensions, the Reserve Bank's October Bulletin said on Monday. The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending. Stable growth momentum amid monetary policy easing is becoming the prevailing theme across most economies, according to an article on 'State of the Economy' published in the Bulletin. "In spite of geopolitical tensions, India's growth outlook is supported by robust domestic engines," it said. It also noted that some high-frequency indicators have, however, shown a slackening of momentum in the second quarter of 2024-25, partly attributable to idiosyncratic factors like unusually heavy rains in August and September. "Looking ahead, private investment is showing some encouraging signs in terms of lead indicators while consumption spending is shaping up for a festival

GST collection falls, exports drop: Is India's economic growth slowing?

The index of industrial production (IIP), which tracks the output of eight core industries, such as coal, oil, and electricity, was negative in August for the first time in three years

Wedding industry holds potential to push economic growth: Tourism minister

The wedding industry in India holds immense potential and is poised to become a key driver to push the economic growth, Tourism Minister Gajendra Singh Shekhawat said on Friday. He was addressing a gathering after inaugurating the 1st Wedding Tourism Summit & Expo hosted here by the PHD Chamber of Commerce and Industry (PHDCCI). Age-wise, about 54 per cent of India's population is under 30 years. And a large part of household income is spent on weddings, the minister said. "And, if we consider those aged 25 and under, about 68 crore people in India are eligible to get married in the next few years, creating huge potential for the wedding industry," Shekhawat was quoted as saying in a statement issued by the PHDCCI. The wedding industry in the country holds huge potential and is set to become an important driver of economic growth, the minister said. "If we combine tourism with the wedding industry and leverage existing infrastructure, we can multiply this sector's growth ...