WORLD BANK INDIA FORECAST
Observing improved private consumption, IMF ups India's growth forecast to 7%
The International Monetary Fund has increased India's growth forecast to 7% due to rising rural consumption. Global economy is expected to grow at 3.2% this year, with China and India contributing significantly to global growth.
India can become world's 2nd largest economy by 2031: RBI deputy guv Michael Patra
Reserve Bank of India Deputy Governor Michael D Patra outlined India's potential to become the world's second-largest economy by 2031 and the largest by 2060, citing the country's inherent strengths. He addressed challenges such as labor productivity, infrastructure development, manufacturing sector contribution to GDP, and sustainable economic practices during a speech at the Lal Bahadur Shastri National Academy of Administration in Mussoorie.
Q1 Earnings Preview: Flat to 4% growth in net profit expected from Nifty pack; auto, financials, health to outperform
Motilal Oswal and Kotak Mahindra differ in their Q2 earnings projections for the Nifty universe. While Kotak forecasts a nearly flat growth of 0.6%, Motilal Oswal projects a 4% increase in net profits. Both firms predict stronger growth when excluding global commodities. Motilal Oswal anticipates a 10% YoY increase for the Nifty excluding oil & gas and metals, while Kotak forecasts a 9.3% rise excluding oil marketing companies.
India vs SA ICC T20 World Cup Final: Playing XI, weather forecast, pitch report, where to watch, and other key things
India vs SA T20 World Cup 2024 Final Barbados: India will face South Africa in the T20 World Cup final on Saturday, June 29, at the Kensington Oval in Barbados. Both teams have shown exceptional performances throughout the tournament. The pitch at Kensington Oval favors pace bowlers, and winning the toss has historically been advantageous. India and South Africa, each with strong squads, will compete for the prestigious title.
India vs. SA Final T20 Final Barbados: Weather forecast and what happens if rain washes out the day; Reserve day rule
Ind Vs SA T20 World Cup Final Barbados Rain Forecast: As India and South Africa prepare for the T20 World Cup final, rain is expected to influence the match. Both teams are unbeaten and eager to end long title droughts. The weather forecast predicts thunderstorms on Saturday, with a reserve day scheduled if rain disrupts the match. Fans hope for clear skies as these cricket giants compete in Barbados.
India's monsoon overcomes delay, set to cover country on time
Summer rains, critical for economic growth in Asia's third-largest economy, usually begin in the south around June 1 before spreading nationwide by July 8, allowing farmers to plant crops such as rice, cotton, soybeans, and sugarcane.
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India vs England T20 World Cup semi-final: New match rules explained amid rain forecast
India faces England in the ICC Men's T20 World Cup 2024 semifinal amidst rain threat at Guyana's Providence Stadium. Led by Rohit Sharma, India aims for victory, while England, with Jos Buttler and Phil Salt, poses a formidable challenge. The match, lacking a reserve day, may lead to a result based on the Super 8s performance.
India vs Bangladesh T20 World Cup: Check weather and pitch conditions in Antigua, Dream 11 prediction
India and Bangladesh are set to face each other in their second Super Eight stage match at the Sir Vivian Richards Stadium on Saturday. India has secured a 47-run victory over Afghanistan in their first Super Eight game in Barbados and now faces the challenge of excelling in Antigua, where scores of 150 and above have been recorded four times.
India vs Canada weather forecast: Will rain play spoilsport in today's match?
India vs Canada Weather forecast: Rain threatens Lauderhill, with a flash flood warning as India, confident after three consecutive wins, aim for a fourth against Canada in their last Group ‘A’ match of the Men’s T20 World Cup 2024. Despite the weather, India has already qualified for the Super Eight stage in the West Indies and is set to top the Group A points table. If the match proceeds, India hopes to address any weaknesses before the Super Eights.
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.
World Bank upgrades global growth outlook on resilient US economy
The World Bank raised its global growth outlook due to resilient consumer spending in the US, but warned of weak growth by historical standards.
Asian earnings growth to outpace US and Europe, India's growth momentum strong: Report
The analysis by CLSA, citing Bloomberg's projections, forecasts that Asian earnings growth will surpass that of the US and Europe for both this year and the next. This positive outlook is in line with the Reserve Bank of India's (RBI) prediction of a robust 7.2 per cent growth rate for India in fiscal year 2025.
RBI holds rates amid food inflation fears
The Reserve Bank of India (RBI) kept policy interest rates unchanged for the eighth consecutive meeting due to concerns about rising food prices. The central bank raised its economic growth forecast for FY25 to 7.2% from 7%, driven by state investments and broad-based consumption. Despite inflation worries, the repo rate remains at 6.5%. A divide in the Monetary Policy Committee emerged, with two members favoring a rate cut. Equity indices surged, but bond yields rose slightly. Governor Das emphasized India's independent monetary policy stance.
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.
RBI maintains interest rates amid growing calls for easier money policy
The Reserve Bank of India (RBI) kept interest rates unchanged in its eighth consecutive meeting, with some members leaning towards easing monetary policy due to concerns about rising food prices. The central bank raised its FY25 growth forecast by 20 basis points to 7.2%, leading to a surge in equity indices. Inflation remains a concern due to global commodity price increases and potential food price spikes.
RBI MPC: Governor Shaktikanta Das reveals how cricket and weather guide monetary policy
RBI Governor Shaktikanta Das announced the central bank's decision to keep interest rates unchanged, highlighting that RBI adapts monetary policy to local conditions, using a cricket analogy. The GDP projection for FY25 was raised to 7.2%, with an inflation forecast of 4.5%. The RBI aims to balance inflation and growth, focusing on domestic economic factors.
RBI MPC Meet 2024: RBI leaves inflation projection for FY25 unchanged at 4.5%
RBI MPC Meet 2024 LIVE: The Reserve Bank of India maintained its inflation forecast at 4.5% for this fiscal year amid concerns over rising food prices. The central bank found some relief as crude prices dipped below $80 per barrel. The RBI's Monetary Policy Committee kept the repo rate unchanged at 6.5% for the eighth consecutive time, citing vigilance against potential inflationary pressures. Governor Shaktikanta Das highlighted the uptick in vegetable prices and global food inflation. Despite a slight easing in overall retail inflation to 4.83%, concerns linger over food price hikes, particularly in items like garlic and ginger.
World stocks at record high after cautious ECB rate cut
It was enough to snip the pan-European STOXX 600's gains back to 0.6%, while the euro inched up to almost $1.0890 against the dollar and government bond yields - which reflect borrowing costs and move inversely to price - ticked up too.
El Nino ending; at least 60% chance of La Nina developing during July-Sept: WMO
The El-Nino event, causing record-breaking temperatures and extreme weather worldwide, is expected to transition to La-Nina conditions this year, per the World Meteorological Organization. The warmest April on record marked the 11th consecutive month of high temperatures globally. La-Nina may bring relief with increased rainfall during the monsoon season in India.
PM Modi reviews the impact of cyclone Remal and heatwave; discusses next govt's 100-day agenda
PM Modi reviewed cyclone impact, monsoon forecast, heatwave measures, fire safety audits, IMD forecasts, post-cyclone situation, NDRF teams' deployment, and discussed World Environment Day plans and 100 days agenda.
India's GDP grows 7.8 per cent in Q4, FY24 growth pegged at 8.2 per cent
India Q4 GDP: The analysts were anticipating a better-than-expected growth for the January to March quarter this time around. The Reserve Bank of India (RBI) estimated Q4FY24 real GDP growth to be 7 per cent while ET Poll suggested the growth rate of 6.8 per cent. As per a Reuters poll, the Indian economy was expected to grow at 6.7 per cent in the January-March quarter on a year-on-year basis, owing to weak demand.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
Top forecaster defies rupee bulls as record low looms
Danske Bank A/S predicts Indian rupee to hit fresh low at 83.60 per dollar by December, going against consensus for first gain in seven years. Allan von Mehren, the top forecaster, expects gradual rupee depreciation to boost exports.
Brutal heat in large parts of India; temperatures set to rise further, says IMD
Official data showed that at least 24 places in Delhi, Punjab, Haryana, Rajasthan, Uttar Pradesh, Gujarat, and Madhya Pradesh recorded maximum temperatures of 45 degrees Celsius or above on Wednesday.
UN raises India's 2024 growth forecast to 6.9%
The revision by the UN follows similar moves by other multilateral agencies following India's strong economic performance last fiscal.
UN revises India's 2024 growth forecast to 6.9%
“India’s economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025,29 mainly driven by strong public investment and resilient private consumption,” the UN Department of Economic and Social Affairs said.
UN upgrades India's 2024 growth forecast to 6.9% from 6.2%
The World Economic Situation and Prospects as of mid-2024, released Thursday, said, "India's economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly."
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