India Economic Growth

S&P keeps India's economic growth forecast unchanged at 6% in FY24

S&P Global Ratings on Monday kept its forecast for India's economic growth unchanged at 6 per cent in the fiscal year starting April 1, before rising to 6.9 per cent in the following year. In the quarterly economic update for Asia-Pacific, S&P saw inflation rate easing to 5 per cent in 2023-24 fiscal, from 6.8 per cent in the current financial year. It saw India's gross domestic product (GDP) likely growing by 7 per cent in the current financial year ending March 31 (2022-23), before slowing to 6 per cent in the next 2023-24 fiscal. "India leads, with average growth of 7 per cent in 2024-2026," the update said. GDP is projected to rise to 6.9 per cent in the following two financial years -- 2024-25 and 2025-26 and rising to 7.1 per cent in 2026-27. "In India, domestic demand has traditionally led the economy. But it has become more sensitive to the global cycle lately, in part due to rising commodity exports; and its year-on-year GDP growth slowed to 4.4 per cent in the fourth

India's steadying economy shows early signs of weakening consumption

Economic expansion may be under pressure as the "full-blown impact" of the Reserve Bank of India's 250 basis point hike in borrowing cost since May gets transmitted to end-consumers, Crisil Ltd., the

India's Q4 economic growth in 2022 to be temporary: Moody's Analytics

The country's economic slowdown late last year will be temporary and even salutary, helping to wring some of the demand-side pressures out of the economy without stopping it wholesale

Bill Gates meets PM Modi, discusses India's innovation and progress

Billionaire philanthropist Bill Gates on Friday met Prime Minister Narendra Modi and discussed at length the 'innovative work' in health, climate change, and other crucial areas

Philanthropist Bill Gates praises India's progress in different sectors

Microsoft co-founder and philanthropist Bill Gates has commended the progress India is making in fields like health, development and climate and said the country is showing what is possible when investment is made in innovation. He also praised India for its "amazing ability to manufacture lots of safe, effective, and affordable vaccines, some of them supported by the Gates Foundation" and said they saved millions of lives during the COVID-19 pandemic and prevented other diseases around the world. Gates, who is co-chair of the Bill & Melinda Gates Foundation, said he met Prime Minister Narendra Modi on Friday during his trip to India. He said in a write-up, "At a time when the world has so many challenges, it's inspiring to visit a dynamic and creative place like India." Although he didn't travel much over the past three years because of the pandemic, Gates said he has been in touch with Modi, especially about developing Covid vaccines and investing in India's health ...

Govt to release second advance estimate of GDP for 2022-23 today

Ministry of Statistics and Programme Implementation will release the second advance estimate of the Gross Domestic Product for 2022-23 along with December quarter data on Tuesday evening. The ministry will also release the revised estimate of economic growth for 2021-22 which was estimated at 8.7 per cent in May last year. As per the first advance estimates released last month, the GDP growth was pegged at 7 per cent for 2022-23. The data assumes significance since in December 2022, the Reserve Bank of India lowered the country's GDP growth forecast to 6.8 per cent for the current fiscal. It was cut from the earlier projection of 7 per cent. RBI had projected the real GDP growth for 2022-23 at 6.8 per cent, with the third quarter and fourth quarter growth at 4.4 per cent and 4.2 per cent, respectively. It had trimmed the growth projection for 2022-23 for the third time in December last year. The Asian Development Bank has projected the Indian economy to expand 7 per cent while the

India's economic growth likely to slow further to 4.6% in Oct-Dec: Poll

The economy had expanded 13.5% in April-June -- boosted largely because of pandemic-related statistical distortions -- before moderating to 6.3% in July-September

India targets 7% growth this year, expects to cross it in 5 years: EAM

Jaishankar also spoke about migration mobility and said, "We've seen a very substantial movement of Indian talent to Australia. We have roughly about a million students staying in here"

Enablers in Budget will perk up economy: FDCI chairman Sunil Sethi

"It is exciting to know about the encouragement to states for setting up Unity Malls for the further promotion and sale of One District One Product scheme, GI and handicraft products"

Road map for India as an economic superpower

This Budget will also continue the weighty task of sustaining social welfare schemes

World Bank sees India growth slowing to 6.6% next fiscal from expected 6.9%

India's economic growth rate will slow to 6.6 per cent in next financial year from an expected 6.9 per cent in 2022-23, the World Bank said in its latest economic update. India however is expected to be the fastest growing economy of the seven largest emerging-market and developing economies (EMDEs), it said. The growth rate of 6.9 per cent in current fiscal year (April 2022 to March 2023) compares with 8.7 per cent in the previous year. For 2024-25, the growth rate is projected at 6.1 per cent. "The slowdown in the global economy and rising uncertainty will weigh on export and investment growth," it said. The government has increased infrastructure spending and various business facilitation measures. However, it will crowd-in private investment and support the expansion of manufacturing capacity. "Growth is projected to slow, to 6.6 per cent in FY2023/24 before falling back toward its potential rate of just above 6 per cent," it said. The GDP expanded by 9.7 per cent on an annua

Freebie culture hurting economic growth, must end: L&T chairman A M Naik

Developing infrastructure should be the govt's top priority, says L&T chairman

Market sentiment

Corporate India is expected to do well

Indian economy resilient amid global shocks: RBI Governor Shaktikanta Das

Inflation is forecast to rise to 8.8 per cent in 2022, with both headline and core inflation staying well above targets in AEs and EMDEs, the report noted

India's growth rate to be 6.4% for next 5 years: UK-based research centre

Cebr further said that India had an estimated PPP-adjusted GDP per capita of $8,293 in 2022, categorising it as a lower middle-income country

India's economic growth 'extremely fragile', needs support: RBI MPC member

India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday. Varma further said out of the four engines of growth for the economy, exports and government spending supported the Indian economy through the pandemic, but other engines need to pick up the baton now. " I like to think in terms of the four engines of growth for the economy: exports, government spending, capital investment and private consumption. "...while exports cannot be the main driver of growth because of the global slowdown, government spending is necessarily limited by fiscal constraints," he told PTI. Observing that experts are waiting for many years for private investment to pick up the slack Varma said that concerns about future growth prospects appear to be deterring capital investment. "The critical question is whether the fourth engine

Markets are cyclical; we only romanticise the good part: Shankar Sharma

Every equity market across the globe has and will have its day, and Indian markets are having their day right now

India can't afford yet more disruptions to supply chains: Ficci President

'What is most unfortunate is that countries are looking to finance their transition to a green economy by taxing others'

BS BFSI Insight Summit: India's biggest BFSI Summit to kick off on Dec 21

The country's biggest BFSI Summit will feature some of the most prominent voices in India's economic landscape, including RBI Governor Shaktikanta Das, Deputy Governors, and SBI chairman

Revisiting international trade's role in domestic development

Unlocking trade-enabled economic development alongside tenets of development including gender equity, income inequality, infrastructure, and other SDGs is very much possible