Clearing the fog on economic recovery
4 years, 1 month ago

Clearing the fog on economic recovery

Live Mint  

There seems to be some urgency to declare that “all is well” with the Indian economy. However, parameters like new investment projects announced and the amount of work demanded under the Mahatma Gandhi Rural Employment Guarantee Scheme tell us that the economy is on a weaker wicket despite widespread attempts to put a positive spin by showcasing month-on-month sequential improvement. Here, we use the volume growth of Hindustan Unilever Ltd. For the period between July to September 2020, it stood at 1%, against 5% in the same period last year. Unemployment rate: The unemployment rate fell to 7% in October 2020 against 8.1% last year. Commercial vehicle sales fell by 30.3% in October 2020; this after they had already fallen by 23.5% last September.

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History of this topic

Mint Quick Edit | Car sales seem stuck in second gear
Trending News
1 month ago

Mint Quick Edit | Car sales seem stuck in second gear

Live Mint  

Close on the heels of a surprisingly weak gross domestic product growth reading, automobile sales data, seen as a an important indicator of economic activity in India, has spelt another round of disappointment. Retail sales of passenger vehicles in November fell 14% from a year earlier, according to data issued by the Federation of Automobile Dealers Associations on Monday. This …

Vivek Kaul: Why the stockmarket wallahs are suddenly worried about the economy
2 months ago

Vivek Kaul: Why the stockmarket wallahs are suddenly worried about the economy

Live Mint  

The Indian economy has had a consumption problem for a while now. In the limited experience of the OPM wallahs, the Indian economy was doing well because the companies listed on the stock exchanges were doing well. Let’s now take a look at the growth in GST collections—a favourite among the OPM wallahs when they wanted to tell us that …

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters
4 months, 1 week ago

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters

Hindustan Times  

India's Gross Domestic Product moderated to 6.7% during the first quarter of the financial year 2024-25, compared to the 8.2% growth seen in the same quarter of the previous year, according to the data released by the Ministry of Statistics and Programme Implementation on Friday, August 30, 2024. India's GDP moderates to 6.7% in Q1 2024-25 {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} …

GDP growth impresses, but rural demand remains a worry
7 months, 1 week ago

GDP growth impresses, but rural demand remains a worry

New Indian Express  

India’s economic growth seems to be going gangbusters. Ending nearly a decade-long wait, real GDP growth crossed the 8 percent mark, touching 8.2 percent in 2023-24. Provisional data released by the National Statistics Office also showed that the gross value added—net of subsidies and taxes, and hence considered a better measure of economic activity—grew by 7.2 percent. Agriculture and allied …

Surge in demand for 'young' used cars outpaces supply, drives prices north
7 months, 2 weeks ago

Surge in demand for 'young' used cars outpaces supply, drives prices north

Business Standard  

A surge in demand for "young" pre-owned vehicles is outpacing supply and driving up prices by 8-10 per cent annually, said auto industry insiders. This trend, coupled with a growing preference for SUVs in both new and used car segments, is expected to boost the organised used car market, which is expected to reach a 45 per cent share within …

ADB pegs India’s GDP growth at 7% in 2024-25, 7.2% next year
8 months, 4 weeks ago

ADB pegs India’s GDP growth at 7% in 2024-25, 7.2% next year

The Hindu  

India’s economy is expected to remain robust over the next two years even though headline growth in the country’s Gross Domestic Product is forecast to slow from 7.6% in 2023-24 to 7% this year before improving to 7.2% in 2025-26, the Asian Development Bank said. “In India, growth is forecast to remain strong as rising consumption complements continued investment growth,” …

Domestic automobile retail sales grow 10% in July: FADA
1 year, 5 months ago

Domestic automobile retail sales grow 10% in July: FADA

Deccan Chronicle  

PUNE: Automobile retail sales in India rose 10 per cent year-on-year in July, across all categories such as passenger and commercial vehicles, the barometers of the economy, the Federation of Automobile Dealers Associations or FADA said on Monday. Total retail sales across segments rose to 17,70,181 units last month, as compared to 16,09,217 units in July 2022. Passenger vehicle sales …

Automobile retail sales witness 10% growth in July: FADA
1 year, 5 months ago

Automobile retail sales witness 10% growth in July: FADA

The Hindu  

Auto mobile retail sales in India witnessed a 10% annual growth in July driven by robust sales across passenger vehicles, two-wheelers and commercial vehicles, industry body FADA said on Monday. Total retail sales across segments rose to 17,70,181 units last month, as compared to 16,09,217 units in July 2022. Passenger vehicle sales saw an increase of 4% to 2,84,064 units …

Retail Auto Sales See Double-Digit Growth In February On Strong Demand
1 year, 10 months ago

Retail Auto Sales See Double-Digit Growth In February On Strong Demand

ABP News  

India's automobile retail sales registered a double-digit year-on-year growth in February driven by robust sales across segments, including passenger vehicles and two-wheelers, automobile dealers' body Federation of Automobile Dealers Associations said on Monday. According to the FADA release, total registrations across segments rose 16 per cent YoY to 17,75,424 units last month, as compared to 15,31,196 vehicles in February 2022. …

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly
1 year, 10 months ago

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly

The Quint  

As argued before, while reviewing the macro-elements and components of growth in any statistical interpretation exercise, it’s difficult to get the full picture one needs. For example, keeping aside the base effect, the fact that private consumption demand is still woefully low, indicates how much of the low-middle income and middle-income class in India is ‘consuming less’ and their demand …

Economy resilient, on course to acheive 7% growth in FY23: RBI article
2 years, 1 month ago

Economy resilient, on course to acheive 7% growth in FY23: RBI article

The Hindu  

With headline inflation beginning to show signs of easing, the domestic macroeconomic outlook appears to be resilient and on course for about 7% GDP growth in the current fiscal though India is still sensitive to global headwinds, according to an article released by the RBI on Friday. In the article, the authors - led by RBI Deputy Governor Michael Debabrata …

Auto retail sales in India rose 11% in Sept; better outlook for Oct: Report
2 years, 3 months ago

Auto retail sales in India rose 11% in Sept; better outlook for Oct: Report

Hindustan Times  

The Federation Of Automobile Dealers Associations said on Tuesday that automobile retail sales in the country rose 11% last month as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the festive season. Maruti Suzuki India led the passenger vehicle segment with retails of 1,03,912 units in September as compared to 99,276 units in the year-ago period. …

Number Theory: The Indian economy’s two paths to recovery
3 years, 4 months ago

Number Theory: The Indian economy’s two paths to recovery

Hindustan Times  

June quarter GDP growth of 20.1% was slightly lower than expected estimates. “August saw a continuation of the Indian manufacturing sector recovery, but growth lost momentum as demand showed some signs of weakness due to the pandemic”, Pollyanna De Lima, Economics Associate Director at IHS Markit, the agency which conducts the PMI survey said in a press release. At 11.6 …

COVID-19 Hit Indian Auto Industry Shows Sign of Recovery, Records Almost 30 Percent Growth
4 years, 2 months ago

COVID-19 Hit Indian Auto Industry Shows Sign of Recovery, Records Almost 30 Percent Growth

News 18  

The Indian auto industry, in 2019, recorded its worst ever sales in almost 2 decades, with numbers falling as low as 50 percent. #SIAMData #BTNR— SIAM India October 16, 2020 The recently released sales data from September 2020 reveals that the Indian car industry has registered a massive growth of 28.92 percent in overall sales as compared to same period …

From slowdown to lockdown: India’s car sales plunge
4 years, 9 months ago

From slowdown to lockdown: India’s car sales plunge

Live Mint  

Automakers in India saw a steep fall in sales in March as a slowdown in demand was exacerbated by shutdowns in production due to the coronavirus pandemic. The government last week sent India into a 21-day lockdown to try to curb the spread of the virus, forcing automakers such as Maruti Suzuki, Mahindra & Mahindra, Ford Motor Co, Toyota Motor …

Nirmala Sitharaman says ‘steadiness’ in economy is a good sign
4 years, 10 months ago

Nirmala Sitharaman says ‘steadiness’ in economy is a good sign

The Hindu  

Finance Minister Nirmala Sitharaman on Friday said the “steadiness” in the economy is a good sign, soon after the official data showed the December quarter GDP growth at 4.7%. On the impact of coronavirus on the economy, she said there is no need to immediately press the “panic button”, but admitted that it may get challenging if the issues prolong …

A nervous economy: Why sops are proving to be a tough sell
5 years, 1 month ago

A nervous economy: Why sops are proving to be a tough sell

India Today  

Despite the various measures taken by the government to boost investment, corporates seem to be shying away from taking risks, with the economy hanging on a precarious balance. Government data released on November 11 showed that factory output, as indicated by the Index of Industrial Production, fell for the second consecutive month in September, by 4.3 per cent. Data from …

GDP slump in June quarter prompts growth, rate-cut revisions
5 years, 4 months ago

GDP slump in June quarter prompts growth, rate-cut revisions

Live Mint  

Singapore: Economists cut their forecasts for India’s economic growth and predicted deeper interest-rate cuts after data showed a sharper-than-expected slump in output. Goldman Sachs Group Inc. and Citigroup Inc. lowered their growth projections to 6% for the fiscal year through March 2020, while Oxford Economics Ltd. said there’s a risk the expansion could be weaker than that. Data released on …

GDP growth drops to 5% from 5.8% last quarter, at 6-year low
5 years, 4 months ago

GDP growth drops to 5% from 5.8% last quarter, at 6-year low

India Today  

The Gross Domestic Product growth for the first quarter of the financial year 2019-20 dropped to five per cent, a sharp decline of 0.8 per cent points compared to the last quarter that ended in March. The GDP at Constant Prices in Q1 of 2019-20 is estimated at Rs 35.85 lakh crore, as against Rs 34.14 lakh crore in Q1 …

Auto crisis in India: Declining sales, job cuts and much more
5 years, 5 months ago

Auto crisis in India: Declining sales, job cuts and much more

India Today  

There is no denying the fact that the Indian automobile sector is going through a rough patch at the moment. Maruti Suzuki India reported a sixth consecutive montly sales decline with the numbers falling 33.5 per cent 1,09,264 units in July 2019. Hyundai Motor India sales fell 3.8 per cent to 57,310 units during the month, while the domestic sales …

The case for doubting India’s GDP numbers
5 years, 6 months ago

The case for doubting India’s GDP numbers

Live Mint  

Arvind Subramanian was the chief economic advisor to the Government of India from October 2014 to June 2018. Arvind Subramanian wrote an article in The Indian Express summarizing his findings on the econometric work he had done on India’s gross domestic product growth estimates. I concluded—without any statistical estimation—that India’s real GDP growth rate might be overstated by 1-1.5 percentage …

Opinion | Don’t let statistics get in the way of economic reconstruction
5 years, 8 months ago

Opinion | Don’t let statistics get in the way of economic reconstruction

Live Mint  

It all started with a perusal of the Twitter handle of my good friend Srinivas Thiruvadanthai, director of research at the Jerome Levy Forecasting Center in New York. He had a chart or two showing the strong correlation between two economic trends in India: real gross domestic product growth scaled by investment share of GDP, and real returns on the …

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