Page 15 - India Gdp Growth

India's Q4 GDP growth projected at 6.7%, FY24 growth at 7.8%, says ICRA

Domestic rating agency ICRA on Tuesday projected India's GDP growth to moderate to a four quarter low of 6.7 per cent in March quarter of 2023-24 fiscal. For the full 2023-24 fiscal, ICRA estimates GDP growth to come in at 7.8 per cent. The Indian economy grew 8.2 per cent in the June quarter, 8.1 per cent in the September quarter and 8.4 per cent in the December quarter of 2023-24. ICRA Chief Economist, Head-Research & Outreach Aditi Nayar said the lower volume growth coupled with diminishing gains from commodity prices dampening the profitability of some of the industrial sectors is expected to dampen India's GVA growth in Q4 FY2024. India's GDP expanded 6.1 per cent in the March quarter of 2022-23 fiscal, as per May 31, 2023 estimates. The growth for full fiscal 2022-23 was 7 per cent. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be released on May 31. ICRA, in a statement, said the gap betwee

GDP growth rate likely to be 6.7% in Q4, around 7% in FY24: Ind-RA

India Ratings and Research expects the country's GDP growth rate for the March quarter at 6.7 per cent and around 6.9-7 per cent for the 2023-24 fiscal, its principal economist Sunil Kumar Sinha said. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be released by the government on May 31. The Indian economy grew 8.2 per cent in the June quarter, 8.1 per cent in the September quarter and 8.4 per cent in the December quarter of 2023-24. "We are expecting the fourth quarter growth to be 6.7 per cent and the overall GDP growth for FY24 to be around 6.9-7 per cent," Sinha told PTI Videos in an interview. He said the growth rate in the first two quarters benefited from a low base, though the 8.4 per cent growth rate in the third (October-December 2023) quarter was surprising. "When we analyse the data, then what is visible is the wedge between the GVA and GDP. A large impetus to Q3 GDP has come from higher

India expects FY25 growth of over 7%, says CEA V Anantha Nageswaran

The possibility of growth touching 8% in the last fiscal year that ended on March 31 is quite high, he added

Economy will regress into 'fragile five' if Cong manifesto implemented: FM

If Congress' poll manifesto were to be implemented, the Indian economy currently ranked among the top five globally, would regress into the "fragile five", Union Finance Minister Nirmala Sitharaman said on Saturday. She claimed the Congress poll document is "more akin to a Muslim League document" and the BJP is duty-bound to question its import. Sitharaman's attack comes against the backdrop of the 'conducting an economic survey and x-ray of society' remarks made by Rahul Gandhi and the BJP's allegation that Congress is planning redistribution of wealth if voted to power. "It is the worst manifesto which is not in the interest of the nation," Sitharaman said. Speaking at a meeting with select journalists in Pune, the finance minister wondered whether the Congress has conducted the necessary financial planning to fulfil the assurances listed in its manifesto. "I know they are not coming to power, but I would still like to ask, even if the subject of the Congress manifesto were to b

MSMEs contribute 62% to employment in India: McKinsey Global Institute

MSMEs in India are only 26 per cent as productive as large companies, in other emerging economies it is 29 per cent

OECD raises India's FY25 GDP growth projection by 40 basis points to 6.6%

Meanwhile, the agency also noted that private consumption has been less vigorous, confirming the preliminary findings from the latest household consumption expenditure survey

India needs 'hard reforms' to reach GDP growth of 7.5%, says HSBC

Prime Minister Narendra Modi - who is seeking a third term in elections that run until June 1 - has been campaigning on making India a developed nation by 2047

India needs stable govt to achieve goal of 'Viksit Bharat' by 2047: FM

Finance Minister Nirmala Sitharaman on Monday underscored the need for a stable government to achieve the goal of becoming Viksit Bharat by 2047. "Our Prime Minister has set a target that by 2047, we need to reach the destination of a developed India," she said while addressing students of GITAM University here. "We have to make efforts, so the GDP grows, and the benefits reach to all. GDP growth doesn't happen automatically; efforts are required at micro and macro levels and on the ground," she said. The image of the country is also important, along with the ranking of your GDP, she said, adding that all these factors matter, along with per capita income calculations. "Unless the GDP is widened, we are not going to be able to meet the demands of the economy. We need investment, services to grow, educational institutions, and money for people to buy houses, start businesses," she added. She also criticised former Finance Minister P Chidambaram for questioning the developmental pac

Capex push by govt to propel GDP growth between 7.1-7.4% in FY25: NIPFP

However, the review by the NIPFP also listed compression in the government consumption expenditure and a subdued growth in private consumption as downward risks to the forecast

Economic think-tank NIPFP projects India's FY25 GDP growth at 7.1%

Economic think-tank National Institute of Public Finance and Policy (NIPFP) on Friday said it has estimated India's GDP growth at 7.1 per cent for the current fiscal, using high-frequency models. NIPFP, in a series of tweets, said the Centre is on a fiscal consolidation path through buoyancy in taxes and revenue expenditure compression. The economic think tank said that in 2023-24, states' capex growth is robust due to significant capex transfers from the Centre. While the Asian Development Bank (ADB) and Fitch Ratings have estimated India's growth at 7 per cent, the International Monetary Fund (IMF), S&P Global Ratings and Morgan Stanley projected a 6.8 per cent growth rate for FY25.

Deloitte India pegs FY25 GDP growth at 6.6%, raises FY24 prediction

The consultancy, however, added that inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity

Deloitte projects India's FY25 GDP growth at 6.6% as exports rebound

Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said. Deloitte has revised India's economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent. The country's GDP growth is estimated to reach around 6.6 per cent in FY 2024-25 and 6.75 per cent in the year after, as markets learn to factor in geopolitic

India fastest growing economy during last 3 financial years: Sitharaman

Union Finance Minister Nirmala Sitharaman said here on Tuesday that India has been the fastest growing economy in the last three consecutive financial years and this growth can continue in the coming years as well. She said the next 25 years will be critical for India. In the financial year 2023-24, India witnessed a growth rate of eight per cent in three quarters and is expecting a similar level of growth in the fourth quarter, she said, adding it has been a sustainable growth. "India has been the fastest growing economy in the last three consecutive financial years and this growth can continue in the coming years as well. The next 25 years will be very critical for India," Sitharaman said in a dialogue programme with industrialists and businessmen. She said that foreign investors are coming to invest in India due to the credibility of its economy. "Due to the economic policy, larger macroeconomic stability, stable government, stable taxation policy, transparent tenders and ...

ADB ups India GDP forecast to 7% for FY25 on investments, consumer demand

Supply line disruptions and weather shocks to agriculture are key risks to outlook, says lender

India's economy doing good, efforts needed to sustain it: Sanjeev Sanyal

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

ADB raises India's GDP growth forecast for FY25 to 7% from 6.7% earlier

The ADB had in December last year projected the Indian economy to expand 6.7% in the 2024-25 fiscal

Lamba's 2047 vision: Enhancing human capital, services-led growth

Says economic growth overstated at 8%, actually 6-6.5% and unsustainable without addressing K-shaped recovery

Creating adequate fiscal space important to give impetus to growth: Kovind

Creating adequate fiscal space is important to give impetus to the current growth trajectory, said former President Ram Nath Kovind on Saturday. Speaking at an event organised by TIOL here, the former president said no nation can prosper without predictability and certainty in the tax architecture. The fiscal architecture is one of its most important pillars, he said. Sound fiscal management attracts both public and private capital and improves the quality of the public-private partnership. "Over the years, we have made great progress in streamlining our taxation policy. The complex tax regimes themselves have been simplified beyond recognition" he said. Now there are fewer tax slabs, processes have been streamlined. taxation policy has become more predictable and investor confidence improved while ease of doing business has enhanced, he said. All this has been made possible by leveraging technology and going forward faceless tax assessment will be the norm, he said. Speaking at

Key indicators suggest economy remains buoyant at end of FY24: NCAER

Indian economy shows resilience with PMI growth, strong GST collections, and bank credit growth

GDP set to grow at least 8% in Jan-March quarter: FM Nirmala Sitharaman

Country's economy is projected to grow at 7.6% in the current fiscal year to March 31, according to the latest government estimates