Page 12 - India Gdp Growth

Q2 GDP growth low but 2nd half numbers expected to be better: DEA secretary

Economic Affairs Secretary Ajay Seth on Monday said second quarter GDP growth at 5.4 per cent is lower than the potential but exuded confidence that the second half to be better. Several high-frequency indicators in the month of October are pointing towards that, he told reporter here. Seth also said that quarterly estimates have been revised upwards in the past when full GDP numbers are available. "Numbers are lower than what our potential is but not alarming...GDP growth will be much higher in the third and fourth quarter," he said. The Economic Survey projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the the preceding financial year. India's economic growth slowed to near two-year low of 5.4 per cent in the July-September quarter of this fiscal due to poor performance of manufacturing and mining sectors as well as weak consumption. The gross domestic product (GDP) had expanded by 8.1 per cent in the July-September quarter of 2023-2

Govt targets 6.5-7% GDP growth in FY25 despite slowdown: EAS Ajay Seth

India's GDP recorded a 5.4% growth in the July-September quarter, its slowest in two years

RBI to weigh growth slowdown, inflation at its MPC meeting this December

A survey conducted by Business Standard revealed that majority respondents believed that the RBI might revise its growth and inflation projections for the financial year

Women-centric welfare schemes account for 0.5% of India's GDP in FY25

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

Q2 GDP growth at 5.4%: Growth slowdown cyclical or policy-driven?

According to the RBI's assessment, the slow growth in H1FY25 was temporary, attributed to inadequate public spending in Q1FY25 due to the general election and excess rainfall in Q2FY25

India GDP growth hits 7-quarter low of 5.4% in Q2 amid manufacturing slump

The Q2FY25 growth in manufacturing slowed to 2.2 per cent, significantly below the 7 per cent recorded in Q1 and 14.3 per cent a year earlier

Sluggish demand likely weighed on India's GDP growth in Sept quarter: Poll

Passenger vehicle sales recorded their first decline in 10 quarters and sales of two-wheelers experienced a sharp slowdown

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

Impacting growth, liquidity management: Shifting sands of fiscal policy

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

GDP growth likely to slip to 6.5%, FY25 growth estimate at 7%: ICRA

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 ..

Generative AI to add $359 bn-$438 bn to India's GDP by FY30: RBI DG Patra

Private sector banks are leading technology adoption, said Michael Debabrata Patra, deputy governor, Reserve Bank of India

GDP growth, inflation among key triggers that may drive mkts in Samvat 2081

While GDP growth may have moderated in Q2FY25, inflation might not weigh so heavily on markets in Samvat 2081 say analysts. Here are some key insights on what may drive markets going forward

India fastest growing major economy, soon to become 3rd largest: Prez Murmu

India is the fastest growing major economy and is likely to become the third largest economy soon, President Droupadi Murmu said on Tuesday. Addressing an event in Delhi, she said the Indian economy had been demonstrating resilience in the face of geopolitical challenges and the country's economy was likely to grow tenfold by 2047. "India is the fastest growing major economy and is likely to become the third largest economy soon," Murmu said. According to the latest World Bank estimate, India contributed 16 per cent to global economic growth in 2023. "Our economy is likely to grow tenfold by 2047," the president said, addressing probationers of the Indian Trade Service and the Indian Cost Accounts Service who had called on Murmu at the Rashtrapati Bhavan. With a rapid economic growth of 8.2 per cent in 2023-24, the Indian economy has been demonstrating resilience in the face of geopolitical challenges, she said. India needs to attract private investment to increase per capita inc

Rural demand rises but urban areas 'slow down'; will it impact GDP growth?

While rural demand has shown an uptick, rising food inflation and a slowdown in credit growth pose challenges, potentially dampening the country's growth in the second quarter of 2024-25

Peak power demand declines in Sept; renewable energy generation increases

While coal and gas-based power generation experienced reductions of 5% and 15%, respectively, hydro, nuclear, and renewable energy sources saw a rise

India's per capita to income to increase by $2,000 over 5 years: Sitharaman

Speaking at Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman noted that while it took the country 75 years to achieve a per capita income of $2,730, the next leap will be much faster

ADB retains India's economic growth forecast at 7% for FY24, 7.2% for FY25

Due to the government's efforts toward fiscal consolidation, central government debt is projected to decline from 58.2 per cent of GDP in FY2023 to 56.8 per cent in FY2024

India lags in filling void left by Chinese export retreat: World Bank

India's share of global apparel exports has decreased from 4 per cent in 2018 to 3 per cent in 2022, mainly due to rising production costs and declining productivity, according to the World Bank

India needs faster growth for a decade to meet goals: RBI Dy Guv Patra

It's possible for India's per capita income to climb to levels required to be considered a high income or developed country, Patra said

World Bank follows IMF. Revises India's FY25 GDP growth forecast to 7%

The International Monetary Fund had earlier also raised India's growth forecast to 7 per cent for the financial year 2024-25 (FY25), following the conclusion of general elections in the country