Pune: India is poised to contribute about one-fifth of the world’s GDP growth on the back of robust domestic demand and prudent macroeconomic and financial sector policies, which enabled it to withstand “external shocks”, Shaktikanta Das, the Principal Secretary-2 to PM Narendra Modi, said. Addressing an event here on Saturday, he emphasised that India’s underlying … Read more
India’s growth outlook continues to draw optimism. Yet, Garima Kapoor, Sr VP, Elara Capital, believes the Reserve Bank of India (RBI) will tread cautiously in its upcoming monetary policy. “I assess that RBI would like to wait out to actually see how the festive season pans out and also to assess the impact of tariffs,” … Read more
Lauding India‘s structural reforms, Amitabh Kant, India’s G20 Sherpa and former Niti Aayog chief, said such reforms have moved the country from the fragile 5 to the top 5, leading to a growth rate of about 8.4% in the last 3 quarters.“Analysts are correct in saying that 30% of the global GDP growth will come … Read more
Mumbai: Clawing the economy back to an 8 per cent growth path will require bringing savings and investment rates closer to 35 per cent on a sustained basis, which were 30.2 and 29.6 per cent, respectively, in FY22, according to a report. As per India Ratings, a large part of investments will have to be … Read more
The Q2 real growth figure of 6.3% isn’t completely unexpected. As the effect of the low base wore off, growth was bound to slow. There are two questions that remain. What’s growth likely to be in 2022-23 and what’s the trajectory of growth from 2023-24? For both, I think, the range is between 6.5% and … Read more
Last month, the Reserve Bank of India (RBI) pegged the country’s Gross Domestic Product (GDP) growth for the quar ter ending September at 6.1-6.3%. “If this is realised, India is on course for a growth rate of about 7 per cent in 2022-23,” the central bank stated in its monthly bulletin. Earlier this week, the … Read more
Mumbai: The Reserve Bank will opt for a larger, 0.50 per cent, hike in key rates at its next monetary policy review in June to protect medium term economic stability in face of the uncomfortable inflation situation, a British brokerage said on Thursday. The central bank will likely revise its inflation estimate to 6.2-6.5 per … Read more
Budget 2022-23 is a comprehensive and transparent budget, reflecting confidence in economic recovery. Set against the backdrop of the third wave of Covid, it is a rightly balanced budget. It balances the need to revive the economy against the prevalent fiscal constraints, primarily by focusing on the quality of spending. Its skilful navigation of fiscal … Read more
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
Citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5 per cent from 8.9 per cent in September. The brokerage also sees the economy clipping at 7.7 per cent in FY23 but moderating to 6 per cent in … Read more