After hitting a near three-year high last week, the average cost on states’ borrowings has eased a tad this week’s auction by 4 bps to 7.67 per cent amid lower-than-indicated issuance. According to Icra Ratings, the weighted average cut-off or pricing of bonds eased by 4 bps to 7.67 per cent even as the supply … Read more
New Delhi: India‘s economic growth likely slumped to a median 5.0% in the third quarter, its lowest this fiscal year, according to an ET poll of 11 economists. Forecasts ranged from 4.3% to 5.2%. An adverse base effect and mixed economic performance dragged growth down from 6.3% in the second quarter, according to them. “Economic … Read more
With the sowing season nearing its end, experts have warned that kharif crop output could be significantly lower this year as the area under cultivation of rice, urad and tur is down by an average of 52.98% from last year. Erratic rainfall has also caused crop damage in several areas, they said. “The lag in … Read more
Private sector capex is showing some signs of pick-up. This is led by large companies in steel and cement, where capacity utilisation is at healthy levels. Source link
A jump in government spending in September has led to upgrade its GDP growth estimate for the second quarter of FY2021-22 to 7.9 per cent, according to a release. The domestic rating agency’s earlier estimate for real GDP growth for the July-September period was 7.7 per cent. The GDP had grown by over 20 per … Read more
India’s infrastructure industries grew at a seven-month low as growth in most industries eased, official data released on Friday showed with economists expecting semiconductor shortages to impact industrial growth. Core sector rose 4.4% in September as against 11.5% in August and 0.6% in the year ago period. It contracted 5% month-on-month against a decline of … Read more
Rising confidence among consumers is expected to boost demand during the festive season even as high performance indicators remained a mixed bag during August and the first half of September, analysts at ratings agency have said. “It appears that the temporary boost, provided by the easing of state-wise restrictions after the second wave of Covid-19 … Read more
India’s current account surplus shrank to $15.5 billion in the July-September quarter from a record $19.2 billion in April-June as its merchandise trade deficit grew, the Reserve Bank of India said on Wednesday. The surplus stood at 2.4% of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or … Read more
MUMBAI: The pick up in economic activity in October is the result of pent-up demand and may not sustain going ahead, domestic ratings agency Icra said on Tuesday. Multiple fast-paced indicators, including GST collections, have been showing a sharp recovery since October, which has also led many analysts to revise their overall GDP forecasts for … Read more
New Delhi: Ratings agency ICRA on Thursday said that the high frequency lead indicators for August suggest a fragmented recovery of the Indian economy is underway. “The year-on-year performance of 11 of the 16 available indicators staged a pickup in August relative to July,” said Aditi Nayar, principal economist, ICRA in a report on the … Read more