Page 15 - Latest Updates on New GDP series

'Public investment of 2% of GDP can create 11 mn jobs, majority for women'

Direct public investment of 2 per cent of India's GDP can potentially generate 11 million jobs, nearly 70 per cent of which will go to women, according to a report released by Ficci Ladies Organisation (FLO) on Wednesday. The FLO also unveiled a roadmap for transforming India's care economy, including five key areas, leave policies, care service subsidies, investment in care infrastructure, skill training for care workers, and quality assurance mechanisms. "In India, the Ministry of Labour and Employment can consider supporting MSMEs and startups financially for maternity leave, revising parental leave policies, and promoting care work leave and flexible work options. This could include introducing market-based financing for leave, such as parental leave insurance. Employers are encouraged to adopt gender-neutral care work leave and flexible work options," Ficci Ladies Organisation (FLO) stated. It said collaboration between government agencies and industry bodies can promote these

S&P Global raises India's FY25 GDP growth forecast by 40 bps to 6.8%

Agency's projection is lower than the Reserve Bank of India's and the government's growth estimate of 7%

India needs to grow at 8% to create sufficient jobs: IMF's KV Subramanian

India needs to grow at 8 per cent on sustained basis to create sufficient jobs to reduce poverty and inequality, India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said on Wednesday. India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 - the fastest pace in one-and-half years. "We should be impatient even if we grow at 7 per cent. We should be looking to grow at 8 per cent and above, as the country needs to create a lot of infrastructure," Subramanian said, addressing an event organised by OMI Foundation. "By growing at 8 per cent, we have the potential to create a lot of jobs, thereby reducing poverty and inequality," the former CEA said. The growth rate in October-December was higher than the growth rate of 7.6 per cent in the previous three years, and it helped take the estimate for the current fiscal (April 2023 to March 2024) to 7.6 per cent, according to the data released by the National ...

Smallcap stocks unlikely to enter the bear market soon, shows data

Amid the turmoil in the smallcap space, ISec believes stocks with high earnings yield and price/earnings-to-growth (PEG) ratio would offer better margin of safety

India's Q3 GDP numbers are 'absolutely mystifying': Arvind Subramanian

Former chief economic adviser Arvind Subramanian on Friday said India's latest GDP numbers are 'absolutely mystifying' and difficult to comprehend. India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 - the fastest pace in one-and-half years. "I want to be honest with you that the latest GDP numbers, I just simply can not understand them. "I say that with genuine respect and things. They are absolutely mystifying. They don't add up. I don't know what they mean," Subramanian said while speaking at the India Today conclave. The NSO has also revised GDP estimates for the first and second quarters of this fiscal to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively. Elaborating further, Subramanian said while the implied inflation in these numbers is 1 to 1.5 per cent, actual inflation in the economy is somewhere between 3 and 5 per cent. "The economy is growing at seven and a half per cent, even though private consum

India's current account deficit likely to narrow below 1% in FY24

CAD implies the country is importing more goods and services in value than exports

FY24 GDP growth to be closer to 8% on higher activity in industry: CEA

India's real GDP growth in FY24 will be "closer" to 8 per cent on higher activity in industry and services verticals, Chief Economic Advisor V Anantha Nageswaran said on Tuesday. Addressing a conference organised by ARIA (Association of Registered Investment Advisors) virtually, Nageswaran said the growth will be higher than the Ministry of Statistics' estimate of 7.6 per cent, and added that there is much reason to be optimistic in the near term about the prospects in India. "...unless the Q4 GDP numbers fall very significantly from the momentum that we have seen in the first three quarters, the GDP will be closer to 8 per cent rather than 7.6 per cent as the Ministry of Statistics is currently estimating," Nageswaran said. However, he stressed on the need to put heads down and work towards the goal without "succumbing to triumphalism and exuberance". "As a country, we should realize that we are in it for the longer haul, not for the short term," he said, adding that the ...

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

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

Sri Lanka hopes to seek respite from debt repayment: Wickremesinghe

Sri Lanka hopes to avoid repaying debt till December 2027 after the completion of the ongoing restructuring process and repay them in the period running up to 2042, President Ranil Wickremesinghe said on Wednesday, as he defended his unpopular reform plans to revive the bankrupt economy. Sri Lanka is currently stuck with debt restructuring with negotiations taking a long to reach an agreement. By 2022, Sri Lanka had to meet external debt repayments worth 6 billion per year. It is 9.5 per cent of the GDP and an amount hard to sustain," he said. "We hope to reduce this to 4.5 per cent of the GDP by debt restructuring, Wickremesinghe, also the cash-strapped island nation's finance minister, stressed. Currently we are actively engaged in discussions regarding the restructuring of all loans including domestic and foreign loans. We are optimistic that these negotiations will reach a successful resolution soon. Our goal is to obtain temporary relief from debt defaults from 2023 to 2027. .

Smallcaps not in extreme bubble territory: IIFL Securities chairman & MD

Venkataraman observes that markets will also receive support from monetary easing globally

Markets hit fresh highs as bulls rejoice GDP boost; Sensex up 1.7%

Nifty sees 6th new high in 2 months

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

Economy expands 8.4% in Q3; FY24 growth projection now up at 7.6%

The National Statistical Office (NSO), in its second advance estimates data released on Thursday, revised the FY24 growth estimate upward to 7.6 per cent, from the 7.3 per cent projected in January

Decoding GDP numbers: Consumption sluggish, govt capex powers investment

According to the latest gross domestic product (GDP) data released by the National Statistical Office on Thursday, private final consumption expenditure (PFCE) grew at 3.5 per cent in the December qtr

Sustained momentum

Private consumption remains a weak spot

Q3 GDP may slide to 6.7-6.9% on poor farm sector show: SBI Research

The Indian economy is likely to grow at 6.7-6.9 per cent in December quarter FY24 as compared to 7.6 per cent growth in the second quarter on poor performance in the farm sector, a report by SBI Research said on Wednesday. The report comes a day ahead of the release of official GDP data for the third quarter of 2023-24 financial year. India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in September quarter on booster shots from government spending and manufacturing. The 6.7-6.9 per cent growth forecast by SBI Research is lower than the Reserve Bank's 7 per cent growth projection for the quarter. SBI Research has projected Q4 GDP at 6.8 per cent. SBI Research said the biggest reason for the lower growth forecast is the very poor show by the farm sector as, barring fisheries, the whole sector is badly affected. As per the first advance estimates, the production of major kharif crops in 2023-24 is

Real GDP growth likely expanded by 7% in December quarter: Report

The country's real GDP growth for the December quarter is all set to come at a higher-than-anticipated 7 per cent, a German brokerage said on Monday. "We are forecasting October-December 2023 real GDP to have grown 7.0 per cent year-on-year during the quarter, which is higher than what we had previously anticipated," analysts at Deutsche Bank said in a note. The official data on quarterly growth will be released on February 29. In the three months ended September 2023, the economy had clocked a 7.6 per cent growth. The German brokerage said its estimate is based on a proprietary index of five high-frequency indicators, including industrial production, exports, non-oil-non-gold imports, bank credit and consumer goods. It said that another indicator comprising nearly 65 high-frequency indicators is also pointing towards 7 per cent growth for the December quarter. "The Indian economy has exhibited remarkable resilience despite the Russia-Ukraine war of last year and Covid prior to th