INDIAS GDP GROWTH
Union Budget 2024 will likely focus on women, middle-class and agri sector
BUDGET EXPECTATIONS: Narendra Modi's third-term Budget, slated for July 23, focuses on leveraging revenue growth and RBI dividends for infrastructure and targeted sectors. The session will also introduce non-legislative reforms. The Economic Survey will precede, highlighting achievements and future plans. Sitharaman aims to tackle inflation, unemployment, and regional disparities with tax measures and social benefits, aiming for a fiscal deficit of 4.5% amid robust GDP projections.
Mt 100 Kanchenjunga well within sight
FPIs have driven Sensex above 80,000, capitalizing on 7.2% GDP growth projections and fiscal prudence. The brief pullout is seen as temporary. Large caps gain focus amid rising valuations. Policy continuity, budget reforms, ministry formation, and positive monsoon prospects improve earnings visibility, enhancing India's appeal to FPIs for sustained investment.
Britain’s economy isn’t seeing growth anywhere near India’s 7% GDP rise — this has caused fewer differences between the Conservatives and Labour: Jaideep Prabhu
The UK election landscape is marked by economic uncertainties post-Brexit, minimal policy distinctions between parties, and environmental concerns driving voter engagement. Influential figures like Farage, Johnson, and Sunak shape political narratives, while climate change discussions underscore the urgency for sustainable solutions amidst global warming threats.
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: 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.
Indian economy poised for potentially stable high growth phase, says RBI's monetary policy panel member
RBI's monetary policy committee member Shashanka Bhide highlighted India's potential for stable high growth amidst significant risks, citing strong domestic demand, investment spending, and positive monsoon forecasts. He emphasised the importance of maintaining inflation aligned with targets to support growth, with the RBI projecting retail inflation at 4.5% for FY25. The MPC recently kept the repo rate unchanged at 6.5%, focusing on sustaining economic momentum.
India's entry into JPMorgan Bond Index set to benefit real estate & manufacturing: Abhishek Banerjee
Analyzing India's economic shifts from surplus to GDP growth projections, Abhishek Banerjee says the focus lies on potential impacts on export sectors and bond markets, indicating promising growth opportunities in the economy. While India's increased production and exports are positive, the shift necessitates careful sector allocation in the near term to manage potential impacts on export-oriented industries.
Fall in Household Financial Savings actually a worry
The Reserve Bank of India has warned that household debt needs close monitoring due to a decline in overall household savings to 18.4% of GDP in FY2022-23, and an increasing trend in financial liabilities. The share of net financial savings in total household savings has been declining, with 28.5 per cent in 2022-23.
India can grow at 8 pc if inflation keeps falling: Ashima Goyal, an external member of MPC
Ashima Goyal, an external member of the Monetary Policy Committee, emphasized the potential for India's economy to grow at 8% if the nominal repo rate falls in line with declining inflation. The Reserve Bank of India has projected a GDP growth of 7.2% for the current fiscal year.
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.
Economists expect big-bang reforms to continue under Modi 3.0
Modi is set to be sworn in for third term as India's Prime Minister in coalition government with key partners Telugu Desam Party and Janata Dal (United). Economists anticipate focus on economic reforms to achieve goal of Vikshit Bharat by 2047. Budget to prioritize infrastructure, manufacturing, and welfare schemes amid global economic challenges.
RBI policy on expected lines, upgrading GDP growth estimate reposes confidence: Bankers
Bankers welcomed the Reserve Bank of India's decision to maintain interest rates, as it was in line with expectations, with an upward revision of the growth estimate. The move, including the unchanged repo rate, was seen as positive for the economy. The revised GDP growth forecast for FY25 instilled confidence in the central bank's outlook. Industry leaders praised the regulatory measures and highlighted the importance of collaboration for financial sector growth.
RBI MPC meeting: India’s FY25 GDP forecast raised to 7.2% from 7%
The Reserve Bank of India (RBI) raised the FY25 real GDP growth forecast to 7.2% from 7% due to improved rural and urban demand, bolstered by monsoon predictions. The Monetary Policy Committee kept the benchmark rate at 6.25%, noting domestic economic resilience. India's FY24 GDP growth accelerated to 8.2%, driven by a sharp decline in the GDP deflator.
Lok Sabha Results: Coalition govt is back. Will policy paralysis too strike again?
Over the past decade, Narendra Modi has propelled India's economy to become one of the fastest-growing globally, positioning it to soon rank as the world's third-largest. His emphasis on reforms and dynamic policies, exemplified by initiatives like Make in India, has bolstered manufacturing and infrastructure growth. However, the recent Lok Sabha election results, leading to a coalition government, raise concerns about potential challenges and policy paralysis ahead. Expert analyses suggest that while coalition governments have historically been effective in driving economic growth, they have struggled to control inflation.
India’s GDP growth under Modi govt fetched it global fame, but why did it leave the desi electorate unimpressed?
Despite an 8.2% economic growth in 2023-24, India’s incumbent government didn't gain the expected electoral advantage due to a jobs crisis. While GDP rebounded swiftly post-Covid, formal job growth lagged. A rise in self-employment highlights insufficient job opportunities, reflecting the weak link between GDP growth and quality employment. In poorer regions like eastern UP, north Karnataka, and east Maharashtra, stagnant incomes and inflation further worsened living standards.
New govt to inherit strong economy, focus on making India developed nation by 2047
India's record-breaking economic growth rate and strong tax revenues provide a foundation for future reforms aimed at transforming the country into a developed nation by 2047. The new government must address challenges such as unemployment and rural distress, while also focusing on controlling inflation. Despite potential obstacles, experts expect continued infrastructure-led growth, investor-friendly policies, and reforms to maintain India's economic momentum and attract investment.
Strong growth, lower fiscal deficit may lead to India rating upgrade: Deutsche Bank
A German brokerage predicts a possible sovereign rating upgrade for India due to strong growth and improved fiscal deficit targets. S&P recently upgraded India's sovereign rating outlook to 'positive'. The real GDP growth for India has been resilient, with a notable increase in FY24.
Trailer of things to come: PM Modi on GDP figures
India's Prime Minister Narendra Modi praised the country's high GDP growth in 2023-24, highlighting its robust momentum and the potential for further acceleration. The Q4 GDP growth data, which reached 7.8% in January-March, pushed the annual growth rate for FY24 to 8.2%, highlighting India's status as the fastest-growing major economy globally.
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