India Growth

Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, saying India could be one of the fastest-growing emerging markets this year. It, however, cut the projections for the next two financial years, stating that even though the country is shielded to some extent from global economic shocks but is not impervious to global developments. In its December edition of the Global Economic Outlook, Fitch projected India's GDP to grow at 7 per cent in the current fiscal and slow to 6.2 per cent in 2023-24 and 6.9 per cent in 2024-25. In September, Fitch had projected 7 per cent growth for the current fiscal, followed by 6.7 per cent in 2023-24 and 7.1 per cent growth in 2024-25. Given the stronger-than-expected outturn, Fitch forecasts growth at 7 per cent in the financial year ending March 2023 (FY23). "India is expected to record one of the fastest growth rates among emerging markets in our Fitch20 coverage this year," it said. India is .

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Finance Minister Nirmala Sitharaman Wednesday said that despite exogenous threats, India's well-targeted policy mix, accompanied by major structural reforms, have aided its growth to remain resilient

The World Bank on Thursday projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing deteriorating international environment. In its latest South Asia Economic Focus released ahead of the annual meeting of the International Monetary Fund and the World Bank, the Bank, however, noted that India is recovering stronger than the rest of the world. The Indian economy grew by 8.7 per cent in the previous year. "The Indian economy has done well compared to the other countries in South Asia, with relatively strong growth performance... bounced back from the sharp contraction during the first phase of COVID," Hans Timmer, World Bank Chief Economist for South Asia, told PTI in an interview. India, he said, has done relatively well with the advantage that it doesn't have a large external debt, there are no problems coming from that side, and that there is prudent monetary policy, he ...

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Private investment will soften due to higher cost of borrowing for firms, says development bank's outlook

The impact of structural reforms, like GST and IBC, will help boost India's growth once the cloud of the pandemic and geopolitical conflict recedes, Chief Economic Advisor Anantha Nageswaran said

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The data for East Asia & Pacific, excludes high income countries such as Japan, South Korea, Taiwan, Hong Kong, Australia, and New Zealand

The rural-urban imbalance reflects the inequality of opportunities that need to be addressed, he added

Growth in South Asia will decelerate to 4.1 per cent in FY2021 and then recover to 6 per cent in FY2022, largely tracking the trend in the dominant Indian economy, according to ADB

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Assuring that there will be no harassment of taxpayers, Sitharaman said the intent of the government is to further simplify taxation systems including removal of exemption.

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Franklin Templeton is betting on banks, automobiles, consumer firms and software exporters to report good profit and revenue growth for the next few years

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The report said the impact of the rising oil prices is offset by robust domestic demand and rising exports, particularly of manufactures

India currently ranks 131 out of 188 countries on the HDI, lowest amongst BRICS nations in the most recent 2016 rankings

RBI expects India's economic growth rate to strengthen to 7.4% in the current financial, from 6.6% in 2017-18