Page 12 - Gdp Growth

Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand

India Ratings & Research (Ind-Ra) on Wednesday upped India's GDP growth forecast for the current fiscal to 7.5 per cent from 7.1 per cent projected earlier on expectation of improved consumption demand. It said The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from the union government budget. The budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy. "Ind-Ra believes these measures would help in broad basing the consumption demand," the rating agency said while revising up its GDP growth estimate for FY25 to 7.5 per cent. Ind-Ra's growth projection is higher than that of RBI which projected FY25 growth at 7.2 per cent and Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a

India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI

PM Modi said emphasis on skill, research, innovation and job based knowledge necessary for making 'Viksit Bharat'

Bill for NFIR likely to be introduced in next session, says DEA Secretary

The Bill for setting up a National Financial Information Registry (NFIR) is in the advanced stage of preparation, and it may be introduced in the next session of Parliament, Economic Affairs Secretary Ajay Seth has said. "It is at an advanced stage. It is in the closing stages of inter-ministerial consultation. We will finalise the Bill soon," he told PTI in a post-budget interview. However, he said, it cannot be introduced in the ongoing session of Parliament but may be in the next session. The objective is to build a public infrastructure for credit-related information, and the right information can be made available by the NFIR to lending agencies. A National Financial Information Registry will serve as the central repository of financial and ancillary information. This will facilitate the efficient flow of credit, promote financial inclusion, and foster financial stability. The passage of the Bill will enable in setting up of a registry and thus help in consolidating all finan

News updates: One dead after flooding in UPSC coaching centre basement, rescue operations underway

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US economy rebounds with 2.8% GDP growth in Q2; price pressures easing

Core PCE price index rises at 2.9% rate

Budget 2024: Building foundation to monetise India's demographic dividend

The Budget also places emphasis on leveraging the power of women in the workforce

GDP growth will be even better: EaseMyTrip co-founder Pitti on Eco Survey

Speaking on the tourism sector, Pitti said that he expects the government to put some more focus on tourism as it provides many employment opportunities

Income tax rate cut, sops for PSUs: Brokerage expectations from budget 2024

Expectations (as measured by pre-budget equity market performance), wrote analysts at Morgan Stanley in a note, are important in determining what the market does immediately after the budget

A call for greater focus on revenue side

Government must strategically expand the fiscal space to face any exogenous shocks

Fiscal headroom should be used to spend on social sector, says Ficci

The economists said the fiscal deficit target for 2024-25 could be slightly lowered, from the 5.1 per cent estimate laid out in the Interim Budget earlier this year

IMF raises India's GDP growth forecast by 20 basis points to 7% for FY25

RBI has projected the Indian economy to grow at 7.2 per cent in FY25

ADB keeps India's GDP growth projection for FY25 unchanged at 7%

Projection must be weighed against 'downside risks from weather events and geopolitical shocks', it says

'Luxury shame' hits China's luxury market as elites dial down on austerity

The elite in the Land of the Dragon are refraining from ostentatious purchases, putting the nation's luxury market under strain

Amid Ukraine war, Russia upgraded to 'high-income' nation; here's why

Thriving in a war economy: Amid heavy sanctions, Russia's economy defied expectations, achieving a high-income status for the first time since 2014, according to the World Bank

India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

The Indian economy will grow around 7 per cent in the current fiscal year and is on track to maintain a similar growth rate for several years, NITI Aayog member Arvind Virmani said on Friday. Virmani said there are new challenges facing the country and they will have to be dealt with. "Indian economy will grow at 7 per cent plus minus point 0.5 per cent... I expect that we are on track to grow at 7 per cent for several years from today," he told PTI in an interview. Last month, the Reserve Bank of India (RBI) pegged the FY25 gross domestic product (GDP) growth rate at 7.2 per cent. Responding to a question on the decline in private consumption expenditures in the last fiscal year, Virmani said it is actually recovering now. "The effect of the pandemic was to draw down savings... and very different from previous financial shocks," he said. Explaining further, Virmani said it is like what he calls a double drought situation. "We also had, of course, El Nino last year, but what the

Budget Watch: FinMin confident of sticking to fiscal deficit of 5.1% of GDP

However, this path may not be as easy for the government to tread

Budget Watch: Sitharaman likely to address banking, insurance reforms

Government's equity dilution in state-owned lenders will be one issue financial market observers will monitor

India must use its cultural wealth to be global economic power

Cultural economic governance assumes great importance at the stage of policy formulation and its implementation

Not politics, not interest rates: India's economy at risk from water

The shortages are affecting rural and urban Indians alike, disrupting agriculture and industry, stoking food inflation and risking social unrest

Japan revises economic growth in Q1 downward; data shows sluggish demand

Japan revised its earlier estimates to show that its economy contracted at a 2.9 per cent annual pace in the first quarter of the year, as meanwhile a survey by the central bank released Monday showed conditions remain sluggish. Analysts had expected the downward revision in the GDP data for January-March and said it was mainly based on a change in data on construction activity. The earlier estimate was of a 1.8 per cent contraction in annual terms. The quarterly survey by the Bank of Japan showed a modest improvement in business sentiment among large and medium-size manufacturers. But details of the survey showed weakness in demand both in Japan and overseas. Across all industries and firm sizes, business conditions held steady at 12, which is on past form consistent with (quarterly) GDP growth of around 0 per cent, Marcel Thieliant of Capital Economics said in assessing the tankan. A renewed slowdown in GDP growth this quarter would be consistent with the slump in industrial ...