Gill noted that middle-income countries, including India, are more prone to slowdowns compared to low-income or high-income countries
As the markets prepare to open, the mood is upbeat. At 6:34 AM, the GIFT Nifty futures are trading 28 points higher at 24,762 levels, hinting at a positive start
The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand. The multilateral development bank has also lowered India's growth forecast for 2025-26 financial year. Changes in US trade, fiscal, and immigration policies could dent growth and add to inflation in developing Asia and the Pacific, according to the latest edition of Asian Development Outlook (ADO). The report also said Asia and the Pacific's economies are projected to grow 4.9 per cent in 2024, slightly below ADB's September forecast of 5 per cent. "India's outlook is adjusted downward from 7 per cent to 6.5 per cent for this year, and from 7.2 per cent to 7 per cent next year, due to lower-than-expected growth in private investment and housing demand," ADB said. Last week, the Reserve Bank also significantly lowered the growth project
India's GDP data faces growing scrutiny over transparency and reliability. To regain trust and ensure accuracy, a reform in statistical methods is critical to avoid pitfalls seen in China's approach
The meeting took place at the finance minister's North Block office. Sources said that the meeting lasted around 20 minutes and was considered customary following the MPC meeting
Industry body CII has suggested the government to stick to the fiscal deficit target of 4.9 per cent of GDP for 2024-25 and 4.5 per cent for 2025-26, cautioning that "overly aggressive targets" beyond these could adversely affect India's economic growth. "India has been growing rapidly amidst a slowing global economy. Prudent fiscal management for macroeconomic stability has been pivotal to this growth," said Chandrajit Banerjee, Director General, CII, elaborating on suggestions for the forthcoming Union Budget. CII also highlighted the announcement in the Union Budget 2024-25 to keep the fiscal deficit at levels that help reduce the debt-to-GDP ratio. In preparation for this, the forthcoming budget could lay out a glide path to bring the central government's debt to below 50 per cent of GDP in the medium term (by 2030-31), and below 40 per cent of GDP in the long term, CII has suggested. Such an explicit target will have a positive impact on India's sovereign credit rating and ...
Share of credit outstanding to MSMEs by scheduled commercial banks as a percentage of outstanding non-food credit is tepid
Speaking at Assocham's Bharat@100 Summit, CEA V Anantha Nageswaran emphasised that India's underlying growth story remains intact despite dismal Q2 GDP figures
Data from the Depository Trust and Clearing Corp. show the volume of dollar-rupee calls trading climbed to $1.9 billion on Monday in the non-deliverable options market
Das himself has largely refrained from discussing his own future, telling Bloomberg a few months ago that he's focused on his work at the RBI
Government informed Parliament that an advisory committee on national accounts statistics has been formed to identify new data sources and advise on the methodology for the revised series
The CPI inflation for Q3 FY2025 is expected to overshoot the MPC's estimate of 4.8 per cent for the quarter by at least 60-70 bps
The preceding week ended on a positive note for equity benchmarks. On Friday, the BSE Sensex surged 0.96 per cent to close at 79,802.79, while Nifty also gained 0.91 per cent to settle at 24,131.10
The credit for the largest allocation in the budget for the cash transfer to women goes to Maharashtra, which has earmarked $5.4 billion, accounting for 1.1 per cent of the state's GDP
The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24. In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 per cent of gross domestic product (GDP) in the current 2024-25 financial year. The deficit was 5.6 per cent of the GDP in 2023-24. In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal. The revenue-expenditure data of the Union government for the first seven months of 2024-25 showed that the net tax revenue was about Rs 13 lakh crore or 50.5 per
Passenger vehicle sales recorded their first decline in 10 quarters and sales of two-wheelers experienced a sharp slowdown
There is a very high chance that the actual fiscal deficit target will undershoot even 4.9 per cent of GDP as there was a decline in government expenditure during the general elections
Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal. The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand. The RBI is sticking to its estimate of 7.2 per cent growth for the fiscal, but a majority of watchers expect it to be under the 7 per cent figure and many have been revising down in the last few weeks. Official data for the Q2 economic activity is expected to be published on November 30. In Q1, the GDP expansion had come at 6.7 per cent. Icra said the dip in Q2 will be due to factors like heavy rains and weak corporate margins. "While government spending and kharif sowing have shown ..
Important to note that the exchange is a barometer of the economy's strength, Governor Shaktikanta Das says
Since the end of the pandemic, India's economic growth has been driven in large part by urban consumption, however, that now seems to be changing