INDIA ECONOMY
Not politics, not interest rates: India's surging economy at risk from water
India is facing a growing water crisis, with the country's growing water stress potentially impacting its growth. The country's growing water stress could affect agricultural production and industrial operations, leading to food inflation and declines in income for affected businesses and workers, especially farmers. Contaminated water kills about 200,000 Indians each year, and the government is focusing on conserving the resource, recycling waste water, and reducing the country's over-reliance on the annual monsoon, especially in the agricultural sector.
Poverty in India declines to 8.5% from 21.2% in 2011-12: NCAER paper
Poverty in India declined from 21.2% in 2011-12 to 8.5% in 2022-24, despite pandemic challenges, according to NCAER's report "Rethinking Social Safety Nets in a Changing Society." Using data from the India Human Development Survey, the study highlights the need for adaptable social protection systems to match rapid economic and social transformations.
Economy on strong wicket after fiscal first quarter
India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by industry experts and economic indicators.
Budget 2024: India’s GST kitty remains central focus; a look at overall collection
India GST Collection Budget 2024 | Finance Minister Nirmala Sitharaman is set to incorporate robust Goods and Services Tax (GST) collections, hitting Rs 2.1 lakh crore in April 2024, into Union Budget 2024. With May's collections at Rs 1.73 lakh crore, GST continues to streamline, aiding government fiscal strategies amidst economic growth and coalition governance challenges.
Budget 2024: A look at India’s GDP growth rate before Sitharaman sets the ball rolling in Lok Sabha
Budget 2024 GDP | Finance Minister Nirmala Sitharaman is preparing to unveil Union Budget 2024 in July, underlining India's robust GDP growth. With GDP climbing to 7.8% in Q4 FY24 and an estimated 8.2% for FY24, policies will focus on sustaining growth momentum. The budget aims to align economic strategies with evolving demands amidst global uncertainties.
India's economy: A-Z all you need to know before announcement of Union Budget
Union Budget will be announced by Finance Minister Nirmala Sitharaman in late July. The report covers key economic indicators, including India's GDP growth at 7.8% in Q4FY24, concerns over consumption expenditure, stable retail inflation at 4.7%, fiscal deficit reduction to 5.6% in FY24, and a narrowing trade deficit | Budget 2024
India economy likely to sustain high growth trajectory: ITC
Indian conglomerate ITC predicts the Indian economy will sustain its high growth trajectory in FY2024-25 due to strong momentum in fixed investments and private consumption. The growth is supported by a good Rabi harvest and normal monsoons. Factors like a favorable demographic profile, increasing affluence, rapid urbanisation, and accelerated digital adoption are key structural drivers of the Indian economy.
Fiscal deficit hits 3% of full FY25 target in April-May at Rs 50,615 crore
India's fiscal deficit for April-May reached approximately 3% of FY25's target, totaling Rs 50,615 crore. PM Narendra Modi's third term priorities include tackling agricultural distress, job creation, sustaining capital expenditure, and enhancing revenue growth for fiscal consolidation. S&P upgraded India's sovereign rating outlook to positive, contingent on fiscal discipline
India’s growing water shortage may weigh on its credit health: Moody’s
India is facing a growing water shortage as consumption is rising amid a rapidly growing economy and frequent natural disasters which is detrimental to the credit health of the country, and for sectors like power generators and steelmakers that are heavily dependent on it, Moody’s Ratings said on Tuesday.
India's bubbling water crisis can spark social unrest, exacerbate volatility in economy's growth: Moody's
Reduced water availability has the potential to interrupt both agricultural and industrial activities, leading to increased food prices and income reductions for impacted businesses and workers, particularly farmers. This situation may lead to social unrest, further destabilizing India's economic growth and its resilience to unforeseen challenges, considering that over 40% of the nation's workforce is engaged in agriculture.
India's FY24 CAD reduces to 0.7% of GDP from 2% in FY23, records surplus of 0.6% in Q4
India's current account deficit improved significantly to 0.7% of GDP, or $23.2 billion in FY24, down from 2% of GDP, or $67 billion the previous year, attributed to a decrease in merchandise trade deficit, according to the Reserve Bank of India. The country's current account balance showed a surplus of 0.6% of GDP in Q4 FY24, a turnaround from deficits in earlier quarters.
Capital goods companies expected to post 9-11% revenue growth rate in FY25
As per the analysis, operating margin could moderate 80-100 basis points to 12-13% in fiscal 2025 as the market scenario continues to be highly competitive and exports remain sluggish.
India drops seven notches in global FDI ranking, inflows down 43% in 2023
Global FDI fell 2% to $1.3 trillion in 2023 amid an economic slowdown and rising geopolitical tensions. FDI flows to developing countries dropped 7% to $867 billion. Tight financing conditions led to a 26% fall in international project finance deals, critical for infrastructure investment. “Among the top 20 host economies, the largest absolute drops were registered in France, Australia, China, the US and India, in that order,” it said.
India's roaring growth may not change the story of its great divide, finds economists' poll
A nearly 85% majority of development economists and policy experts, 43 out of 51, in a May 15-June 18 Reuters poll, said they were not confident economic inequality would significantly reduce over the next five years, including 21 who said they had no confidence at all.
Fitch raises FY25 India GDP growth forecast to 7.2 per cent
In its Global Economic Outlook (GEO) released Monday, it raised its forecast for world growth in 2024 to 2.6% from 2.4% estimated earlier. India's economy grew 8.2% in FY24. "We expect the Indian economy to expand by a strong 7.2% in FY25 (an upward revision of 0.2pp from the March GEO)," Fitch Ratings said, adding that investment will continue to rise but more slowly than in recent quarters, while consumer spending will recover with elevated consumer confidence. Purchasing managers survey data point to continued growth at the start of the current financial year.
India's disinflation process proving to be arduous thanks to stubborn food inflation: RBI Guv Das
RBI Governor Shaktikanta Das stated that bringing India's retail inflation to the 4% target is challenging due to persistent food price inflation, driven by weather-related supply issues. Speaking at an event, he highlighted that despite moderating core inflation, food inflation remains high, averaging 8% over the past seven months.
India to to be the fastest growing economies in ASEAN: Moody’s
In the first half of calendar year 2024, Indonesia, Philippines and India led the way and should continue to outperform pre-COVID growth numbers on the back of rising exports, local demand and government spending lift.
India to remain fastest growing Asia-Pacific economy: Moody's
Moody's said stronger portfolio inflows are likely in India and ASEAN economies, because of robust corporate credit metrics and appealing valuations.
World Bank revises India's FY25 growth forecast to 6.6%
The World Bank revised India's FY25 growth forecast to 6.6% from 6.4%, expecting India to remain the fastest growing economy, driven by public and private investment, and rising consumption.
Load More
