Page 2 - India's Growth Rate

India's cement demand seen rising 8-9% in FY24 over 9% growth in FY23

Continued government push to build infrastructure will drive cement demand further this fiscal by 8-9 per cent on top of a 9 per cent growth in FY22, which will help the sector see some recovery in profitability, a report said. According to India Ratings, which has a neutral outlook for the sector for the year, recovery in profitability despite the inflationary pressure and healthy balance sheets will keep the sector in good stead despite the large capex pipeline. The agency expects demand to grow 8-9 per cent in FY24 over an estimated 9 per cent growth in FY23, giving the sector a five-year compounded annual growth rate of 4.5 per cent. Softening fuel cost to drive recovery in operating margins even as the industry is likely to increase prices only in low single digit. The agency expects operating margins to recover to Rs 950-1,000/MT in FY24 on the back of softening power and fuel cost. Downside risks could arise from a rebound in coal and petcoke prices, though. After the stron

Core sector output growth slows to 20-month low of 0.1% in October

Output accelerated by only 0.1% in October; 4 of 8 core industries reported production contraction

Mystery of the missing millions: Why UN projects higher India population

Its estimate of India's population by the end of the decade is 41 mn higher than TGPP's 1.47 billion

India committed to cut emissions intensity of GDP by 45%: Power Minister

Power Minister RK Singh said that India is committed to reduce the emissions intensity of its GDP by 45% by 2030 and achieve 50% cumulative electric power installed capacity from non-fossil sources

India to be the fastest-growing Asian economy in FY23: Morgan Stanley

Analysts at Morgan Stanley expect India's gross domestic product (GDP) growth to average 7 per cent in 2022-23. The Indian economy, they said, is set for its best run in over a decade.

RBI monetary policy review: Direction for repo rate is clearly northwards

The MPC pitched for a high number of 50 bps, which is significant because if combined with the inflation forecast, it indicates that more hikes are coming

RBI likely to raise interest rate by 25 bps-50 bps today: Experts

RBI Governor Shaktikanta Das has already indicated that there may be another hike in the repo rate though he refrained from quantifying it

By retaining India's rating S&P has taken a balanced view of the economy

S&P is more sanguine about the prospects given the strong fundamentals which can help to withstand the Covid-19 impact

India's growth rate to fall to 6%, will recover to 7.2% in 2022: World Bank

In 2018-19, it stood at 6.8%, down from 7.2% in the 2017-18 financial year

At $2.73 trn, India's economy pushed to 7th spot; UK, France march ahead

UK's economy grew to $2.82 trillion and the French economy expanded to $2.78 trillion in 2018, against India's $2.73 trillion, World bank data showed

India's 7% projected growth rate for FY18 is 'amazingly fast', says ADB

Sawada said inequality and poverty reduction would play a 'very important role' in achieving higher growth because consumption can stimulate more production and that can absorb more employment

RBI draws a 'Goldilocks' economy as trade war looms, retains neutral stance

Slowing inflation, accelerating growth and an economy that relies on domestic consumption may help India remain relatively immune from the escalating trade war