Page 20 - India Gdp Growth

Economy resilient, on track to grow at about 7% in FY23: RBI report

Headline inflation showing signs of easing, it says

Moody's cuts India's GDP growth projection for 2022 from 7.7% to 7%

Moody's on Friday slashed India's GDP growth projections for 2022 to 7 per cent from 7.7 per cent earlier as the global slowdown and rising domestic interest rates will dampen economic momentum. This is the second time that Moody's Investors Service has cut India's growth estimates. In September, it had cut projections for the current year to 7.7 per cent from 8.8 per cent estimated in May. "For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. The downward revision assumes higher inflation, high-interest rates and slowing global growth will dampen economic momentum by more than we had previously expected," the agency said in its Global Macro Outlook 2023-24. Moody's expects growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4 per cent in 2024. It said the global economy is on the verge of a downturn amid extraordinarily high levels of uncertainty amid persistent inflation, monetary policy tightening, fiscal ...

India's FY24 GDP growth to slow down to 5.5%, says UBS India report

India's GDP growth will slow down to 5.5 per cent in FY24 from the 6.9 per cent expected in the current fiscal 2022-23, a Swiss brokerage said on Wednesday. The slowdown was attributed to slowing global growth and tightening of monetary policies in the report by economists at UBS India. It said India will be among the "lesser affected economies" in the world, but made it clear that the world's fifth largest economy is not immune from global headwinds. "Factoring in the delayed impact of monetary tightening on domestic demand, we continue to expect India's growth to remain below consensus in FY24. In our base case, we expect India's real GDP growth to slow from 6.9 per cent in FY23 to 5.5 per cent in FY24 before settling at the long-run average of 6 per cent in FY25," the report said. Responding to high domestic inflation and rate hikes by global central banks, the RBI has already hiked the policy rate by 1.90 per cent since May this year and is only expected to hike more, which can

Best of BS Opinion: Managing expectations, the state of states & more

Here is the best of Business Standard's opinion pieces for today

Through a 40-year prism: India's record creditable, but not outstanding

India's share of world GDP, after shrinking in the 1981-91 decade from 1.7% to 1.1%, rose to 2.5% by 2011, and then to 3.3% in 2021, with still higher shares to come, writes T N Ninan

13 states can incur capex worth Rs 7.4 trillion in FY23: ICRA report

Spending space available without pressure to their fiscal profile, says agency

September CPI inflation at 7.41 per cent: How analysts interpret the number

Analysts at UBS expect headline CPI inflation to average 6.7 per cent YoY in FY23 and see RBI's policy outlook to be data dependent contingent on the Fed action

India's growth, external profile solid buffers against turbulence: S&P

More severe conditions could put pressure on its sovereign credit ratings, says agency

Don't let exposure to mid and small-cap funds exceed 30%: Experts

They will outperform if GDP, earnings growth sustain, but global risks pose threat

Sitharaman says India's growth rate to be around 7% this financial year

Amidst reports of a global recession and downgrading of growth rates of almost all major economies, Finance Minister Nirmala Sitharaman on Tuesday exuded confidence on India's relative and absolute growth performance in the rest of the decade and forecast the country's growth rate to be around 7 per cent this financial year. Addressing a gathering here, Sitharaman said India's foundation for the ongoing successful recovery from the pandemic was laid when Prime Minister Narendra Modi took office in 2014. "I am aware that growth forecasts around the world are being revised lower. We expect India's growth rate to be around 7 per cent this financial year. More importantly, I am confident of India's relative and absolute growth performance in the rest of the decade, she said. The minister, however, observed that the Indian economy is not exempt from the impact of swirling global currents. No economy is, she said. After the unprecedented shock of the pandemic, came the conflict in Europ

As MPC raises growth projections, what makes the panel so optimistic?

The MPC believes that there is growth momentum due to better farm production, government policies to boost capex, improvement in business and consumer sentiment

Nomura moderates India's FY24 GDP growth to 5.2%, says optimism misplaced

Japanese brokerage Nomura has projected a sharp moderation in India's growth rate for FY24 to 5.2 per cent as compared to FY23, saying Indian policymakers are misplaced about their optimism on the country's growth prospects. After a week-long meetings with policymakers, corporates, commercial banks and political experts, its economists said its FY23 GDP growth estimate is at 7 per cent at par with the RBI's revised down forecast but it expects a "sharp moderation" to 5.2 per cent in FY24. While we broadly agree with our interlocutors on the growth prospects in FY23, we believe the optimism in FY24 may be misplaced and that the spillover effects from the global slowdown are being underestimated, its economists Sonal Verma and Aurodeep Nandi said in a note. The RBI has hiked repo rate by 190 basis points since May to tame inflation and is expected to do more, especially amid faster rate tightening by the US Fed, which is bound to impact growth. The economy grew at 4 per cent in FY2

India's economic growth to decline to 5.7% in 2022, says UNCTAD

India's economic growth is expected to decline to 5.7 per cent this year from 8.2 per cent in 2021, a top UN agency projected on Monday, citing higher financing cost and weaker public expenditures. India's GDP will further decelerate to 4.7 per cent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022. India experienced an expansion of 8.2 per cent in 2021, the strongest among G20 countries. As supply chain disruptions eased, rising domestic demand turned the current account surplus into a deficit, and growth decelerated, the report said. It noted that the Production-Linked Incentive Scheme introduced by the government is incentivising corporate investment, but rising import bills for fossil energy are deepening the trade deficit and eroding the import coverage capacity of foreign exchange reserves. As economic activity is hampered by higher financing cost and weaker public expenditures, GDP .

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI

Das says RBI won't make public the communication on failure of achieving target to govt

Current account deficit widens to 2.8% of GDP in Q1; trade deficit jumps

Services exports, remittances show firm momentum in Q1

Structural reforms keep economic recovery on course, says DEA secy

India today is focusing on infrastructure led capital spending aimed at enhancing productivity and employment while ensuring fiscal prudence with 'targeted' interventions: Ajay Seth

ADB cuts FY23 GDP forecast for India to 7% citing sluggish global demand

Earlier forecast was 7.2%; institution says high inflation is another growth hurdle, cut FY24 forecast to 7.2% from 7.8%

India's GDP likely to grow 7.2-7.4% in FY23, says CEA Nageswaran

Global slowdown positive for India on balance, says CEA

Slowdown in West, on balance, would be positive for India: CEA Nageswaran

'Signs are very encouraging' are for the Indian economy, he says in an interview

CEA says India poised to grow at 7% this year and for rest of decade

Economic Survey had pegged FY23 GDP growth higher at 8-8.5%