Rise in global commodities a threat even as easing local vegetable prices cool inflation: RBI bulletin

Rise in global commodities a threat even as easing local vegetable prices cool inflation: RBI bulletin

Mumbai: Even as easing vegetable prices have brought down retail inflation, risks are emerging from the global commodity markets as crude oil ruling above $90 per barrel poses a challenge, the latest state of the economy report published in the Reserve Bank of India bulletin said. On a positive note, economists from the Reserve Bank … Read more

G20 Summit: India ready to lead the new digital age

G20 Summit: India ready to lead the new digital age

The world is at India’s doorsteps. With an economy that is outperforming the rest of the world, a young workforce that outnumbers the rest, and a rapid digital transformation that outshines the rest, India is a ray of light amidst the economic uncertainties elsewhere. The task now is to raise the bar so India can … Read more

Main drivers of growth in Q2 and Q3 likely to be domestic: Saugata Bhattacharya

Main drivers of growth in Q2 and Q3 likely to be domestic: Saugata Bhattacharya

Saugata Bhattacharya, Chief Economist, Axis Bank, says “manufacturing, if it actually stalls, in addition to the agricultural uncertainty, given the low rains that we have seen in August, might actually pull GDP growth even lower than the 6.2% that we have been expecting and forecasting for Q2. That is likely to pull down overall annual … Read more

India set to be third-largest economy by FY28: SBI Research

India set to be third-largest economy by FY28: SBI Research

New Delhi: India will become the third largest economy by FY28, two years earlier than projected, said SBI Research economists in a note on Thursday. “The Indian economy continues to enjoy a period of sustained goldilocks,” SBI Research economists said, pointing out that India will surpass Japan and Germany at the current growth rate and … Read more

Despite headwinds, Indian economy could grow at 6.5% this fiscal year unless…

Despite headwinds, Indian economy could grow at 6.5% this fiscal year unless…

The world economy is on a precarious footing, says the World Bank as it forecasts a deceleration in global growth from 3.1% in 2022 to 2.1% in 2023. Its latest edition of the Global Economic Prospects report, published earlier this month, however, projects India’s growth for FY2024 at 6.3%, a healthy number against a bleak … Read more

GDP growth may exceed 7 pc this fiscal, says CEA Nageswaran

GDP growth may exceed 7 pc this fiscal, says CEA Nageswaran

New Delhi: Chief Economic Advisor V Anantha Nageswaran on Thursday expressed hope that the GDP growth for the current financial year will exceed the projected 7 per cent in view of the expected revision of high frequency data. On Tuesday, the second advance estimate released by the National Statistical Office (NSO) maintained the growth projection … Read more

Growth projection of 7% for FY23 very realistic: CEA Anantha Nageswaran

Growth projection of 7% for FY23 very realistic: CEA Anantha Nageswaran

India can achieve the 7 per cent GDP growth in current financial year as projected by the National Statistical Office (NSO), Chief Economic Advisor V Anantha Nageswaran said today. The CEA said the country needs to grow at just 4-4.1 per cent in the March quarter to achieve 7 per cent real GDP growth rate … Read more

India cereal inflation broad-based and worrying despite data discord: Economists

India cereal inflation broad-based and worrying despite data discord: Economists

The soaring prices of cereals such as wheat and rice are a concern for the Indian economy even though the latest set of inflation data may overstate the extent of the increase, economists said. Inflation in the cereals category hit 16.12% in January compared to 13.79% in December, according to data released on Monday. Alongside … Read more

Economic Survey 2022-23: A medium-term plan

Economic Survey 2022-23: A medium-term plan

With global agencies pegging India as a ‘shining star’ amid global turmoil, the Economic Survey presented in Parliament on Tuesday looks ahead to the medium term while concluding that the pandemic response and recovery phase is now over. 1. Survey sees economy growing a tad slower GDP growth seen in a 6.1-6.8% range with a … Read more

View: Resilient India can brave global headwinds

View: Resilient India can brave global headwinds

The Economic Survey 2022-23 is a conservative, low-key document with no great rhetorical or policy flourishes. Such Surveys are not reliable indicators of the budget to follow. But one can hazard a guess that Wednesday’s budget will also be fiscally prudent and conservative. The Survey projects GDP growth in the current fiscal year at 7%, … Read more