Page 22 - Icra

India misses fifth-largest economy in the world tag by $13 billion

Experts say it is just a matter of a year before India overtakes the UK

High export tariff of 45% to make iron ore pellet export unviable: ICRA

"The application of this high export tariff has reduced a merchant exporter's net effective realisation, rendering pellet exports unviable," it said.

CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates

The current account was in deficit to the tune of $ 8.1 billion (1 per cent of GDP) a year ago (Q4 of FY21)

Auto ancillaries' revenue may grow 8%-10% in FY23 on stable demand: Icra

The revenues are expected to grow 8-10 per cent in 2022-23 on the back of a stable demand and likely easing of supply-chain concerns in the second half of the year, Icra said.

India's trade deficit hits record high of $24.3 bn in May: Govt data

Preliminary estimates released earlier in the month had put the trade deficit at $23.3 billion

Asset quality in NBFCs, HFCs improves in Q4FY22 on lower slippages: Icra

The standard restructured book of NBFCs is estimated to have reduced to 2.7-3 per cent in March 2022 from the peak of 4.5 per cent in September 2021

Wage cost inflation may moderate IT players' profit margins by 1.5%

The shrinking will be over and above the narrowing of up to 3.50 per cent on the operating profit margin front for most IT companies in FY22

Yields on state govt bonds harden ahead of RBI policy announcement

Bond dealers said the hike in yields on state government paper was in line with the increase across the board - treasury bills, Government of India (GoI) bonds, and corporate paper

Collection efficiency for NBFCs, HFCs at 97-101% in April: Report

The collections had seen a modest decline of about 3 per cent following the third wave of infections in January 2022, but the recovery was prompt, Icra Rating said in a report.

Int'l air passenger traffic to India to hit 80-85% of pre-Covid level: Icra

The volume of such travellers has already touched 72 per cent of the pre-Covid level in May

India's retail inflation may be at 5.7-6.9% in FY23, say economists

This is after duty cuts on fuel; 25-50 bps repo rate hike likely in the MPC meet next week

3rd-party insurance premium hike for 2-wheelers may not impact demand: ICRA

The upward revision in the third-party insurance premium for two-wheelers, which has come into force from June 1, is unlikely to materially impact the demand, credit ratings agency ICRA said

Centre's FY22 fiscal deficit at 6.7% vs revised estimates of 6.9%

April saw revenue surplus of Rs 591 crore

India's domestic crude oil production slips to 28-year low in FY22

Production declined every month for last 4-and-a-half years in core sector index; old fields among likely reasons

India's economic growth may have slowed to 3.5% in Q4 of FY22: Icra Ratings

The agency said the hiccups in the recovery of the contact-intensive services attributable to the third wave of Covid-19 in the country may have also affected the economic growth in the quarter

Domestic steel industry hit by moving train post govt's duty measures: ICRA

The domestic steel sector has been "hit by a moving train," ratings agency Icra said reacting to the duty-related measures taken by the government.

Fuel duty cuts likely to help ease retail inflation by up to 25 bps

But experts call for other fiscal measures too to bring inflation down

Small exporters feel the pain as Indian rupee slides to an all-time low

Weaker currency makes some customers to demand benefits or discounts, rue exporters

RBI to transfer Rs 30K cr surplus to govt for FY22; lowest amount in 8 yrs

Last year, the transfer of Rs 99,126 crore was for a nine-month period ended March 2021

Icra forecasts 12-13% growth in Q1FY23, sticks to 7.2% GDP for full fiscal

Citing the second highest business activity index reading in 13 months in April, rating agency Icra on Tuesday forecast the economy to grow 12-13 per cent in the first quarter of the current fiscal. However, Icra has maintained its annual GDP projection at 7.2 per cent for this fiscal citing worries over inflation and the resultant RBI tightening. "Our business activity monitor for April at 115.7 indicates that activity was roughly 16 per cent higher than the year ago (period) and pre-COVID levels in spite of the global headwinds," Icra Chief Economist Aditi Nayar told PTI. This high growth may persist in May, especially on an annualised basis, which should translate into a double-digit GDP expansion in Q1 at 12-13 per cent. However, this may not sustain and the annual growth in volume and activity may moderate, she said. According to her, higher input costs may dampen GVA growth to single-digits. "Therefore, we maintain our GDP growth forecast at 7.2 per cent for FY23". Citing .