Western recession won’t leave India unscathed
2 years, 1 month ago

Western recession won’t leave India unscathed

Live Mint  

Economists tend to either present a very rosy picture or prophesize doomsday scenarios while talking of the future. Therefore, while it may sound impactful to use the word ‘recession’, a slowdown in growth would be a more appropriate term. It is not doomsday for certain, as the economy is chugging along notwithstanding the travails of high inflation, rising interest rates, selective crop failure, a depreciating currency and limited investment. Then, even as foreign investment flows become less dependable, there would be pressure on our balance-of-payments and hence on our foreign exchange reserves, which finally gets translated into the rupee weakening based on fundamentals. A slowdown in the West will seep through, via the monetary route, and this will ultimately have a bearing on India’s growth prospects.

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History of this topic

December quarter will make up for poll-induced growth slowdown: Nirmala Sitharaman
2 weeks, 4 days ago

December quarter will make up for poll-induced growth slowdown: Nirmala Sitharaman

Live Mint  

New Delhi: India’s economic growth decelerated in the September quarter because of the general election earlier in the year and not a systemic issue, finance minister Nirmala Sitharaman said on Friday, expressing confidence that growth in the December quarter would make up for the lost momentum. Speaking at the India Japan Forum 2024 in the capital, a closed-door meeting between …

A recession in America by 2024 looks likely
4 months, 1 week ago

A recession in America by 2024 looks likely

Live Mint  

Not long ago recessions seemed to strike America roughly once a decade. But because the world economy, asset markets and America’s politics are all fragile, it may yet have nasty and unpredictable consequences. An American recession would land another blow on vulnerable parts of the global economy by curbing demand for their exports. But after over a decade of cheap …

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades
6 months, 2 weeks ago

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades

Firstpost  

“In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted” the IMF said in the World Economic Outlook The IMF on Tuesday said India's GDP would grow 7% in 2024-25. India’s GDP …

Riding high on the growth momentum
11 months, 1 week ago

Riding high on the growth momentum

Hindustan Times  

The Indian economy’s growth continues to surprise: The recently released advance estimate of Gross Domestic Product by the National Statistical Office showed that the economy will grow 7.3% in the current fiscal year 2023-24, slightly higher than last year’s 7.2% increase. India’s growth rate has kept a 7% handle for the last two years, but the world’s GDP growth has …

IMF projects Indian economy to grow at 6.1% in 2023
1 year, 4 months ago

IMF projects Indian economy to grow at 6.1% in 2023

The Hindu  

The IMF on July 25 projected a growth rate of 6.1% for India in 2023, which is a 0.2 percentage point upward revision compared with the April projection. “Growth in India is projected at 6.1% in 2023, a 0.2 percentage point upward revision compared with the April projection,” it said in its latest update of the World Economic Outlook. Inflation …

Growth in India is expected to slow to 6.3% in FY2023: World Bank
1 year, 6 months ago

Growth in India is expected to slow to 6.3% in FY2023: World Bank

The Hindu  

Growth in India is expected to slow to 6.3 % in FY 2023/24, a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. “Growth in India is expected to slow further to 6.3 % in FY 2023/24, a 0.3 …

India is making its mark in the world
1 year, 6 months ago

India is making its mark in the world

Hindustan Times  

India is in a rare moment of equilibrium. India’s economy is no longer at the receiving end of the global order but is in the fray of the world’s most powerful future economies, with an unmatched growth rate. The International Monetary Fund says India and China will account for 50% of the total world gross domestic product growth in 2023, …

India's growth momentum likely to be sustained in 2023-24: RBI
1 year, 6 months ago

India's growth momentum likely to be sustained in 2023-24: RBI

India TV News  

On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in …

RBI's Annual Report: India's Growth Momentum Likely To Be Sustained In 2023-24
1 year, 6 months ago

RBI's Annual Report: India's Growth Momentum Likely To Be Sustained In 2023-24

ABP News  

The Reserve Bank of India's annual report on Tuesday said that India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures on the back of sound macroeconomic policies and softer commodity prices. The annual report, a statutory report of its Central Board of Directors, said, "On the back of sound macroeconomic policies, softer …

UK economy is no longer to fall into a recession in 2023, says IMF
1 year, 7 months ago

UK economy is no longer to fall into a recession in 2023, says IMF

Firstpost  

Britain’s economy is no longer will fall into a recession this year, the International Monetary Fund said on Monday, adding that it upgraded forecasts published last month and warned that the outlook remains subdued. “The improved outlook reflected the unexpected resilience of demand, helped in part by faster than usual pay growth, higher government spending and improved business confidence,” it …

India one of the bright spots in crisis-ridden world economy: IMF chief
1 year, 8 months ago

India one of the bright spots in crisis-ridden world economy: IMF chief

India TV News  

International Monetary Fund managing director Kristalina Georgiva has said that India and China are predicted to contribute for half of global growth in 2023. According to the IMF’s chief, this is “our lowest medium-term growth prediction since 1990, and significantly below the two-decade average of 3.8 percent”. Georgieva remarked that while the global banking system has “come a long way," …

India, China to account for half of global economic growth in 2023: IMF chief
1 year, 8 months ago

India, China to account for half of global economic growth in 2023: IMF chief

Deccan Chronicle  

Washington: The IMF chief on Thursday said that the world economy is expected to grow at less than 3 per cent this year, with India and China expected to account for half of global growth in 2023. International Monetary Fund managing director Kristalina Georgieva warned that a sharp slowdown in the world economy last year following the raging pandemic and …

India to buck global slowdown, maintain pace of expansion: RBI officials
1 year, 9 months ago

India to buck global slowdown, maintain pace of expansion: RBI officials

The Hindu  

Even as the global economy is set to slow down or even enter a recession in 2023 as financial markets worldwide face heightened uncertainty, the Indian economy is steadily gathering momentum, Reserve Bank of India officials headed by deputy governor Michael D. Patra wrote in an article in the March RBI Bulletin. “Unlike the global economy, India would not slow …

Unlike Global Economy, India Won't Slow Down And Maintain Pace Of Expansion Seen In FY22: RBI
1 year, 9 months ago

Unlike Global Economy, India Won't Slow Down And Maintain Pace Of Expansion Seen In FY22: RBI

ABP News  

The Reserve Bank of India, in its monthly bulletin for March, said unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23. Even as global growth is set to slow down or even enter a recession in 2023 as global financial markets wager, India has emerged from the pandemic years stronger than …

IMF projects Indian economy to grow 6.1% in 2023; global growth to dip to 2.9 pc
1 year, 10 months ago

IMF projects Indian economy to grow 6.1% in 2023; global growth to dip to 2.9 pc

Deccan Chronicle  

New Delhi: The International Monetary Fund on Tuesday released the January update of its World Economic Outlook. According to the update, IMF said growth in India is set to decline from 6.8 per cent in 2022 to 6.1 per cent in 2023 before picking up to 6.8 per cent in 2024, with resilient domestic demand despite external headwinds. Following the …

India to remain 5th largest economy in 2023, says RBI bulletin
1 year, 11 months ago

India to remain 5th largest economy in 2023, says RBI bulletin

Live Mint  

A Reserve Bank of India bulletin said on Thursday that India will maintain its position as the fifth-largest economy in 2023. It further said that India will become a USD 3.7 trillion economy in 2023 and will continue to maintain its lead on the United Kingdom, stressing that the macroeconomic stability is getting entrenched. Recent data arrivals indicate that the …

Indian economy poised for further growth in 2023 despite global headwinds
1 year, 11 months ago

Indian economy poised for further growth in 2023 despite global headwinds

Deccan Chronicle  

NEW DELHI: The Indian economy recovered from the COVID-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against …

World economy to experience recession in 2023, says Centre for Economics and Business Research
1 year, 11 months ago

World economy to experience recession in 2023, says Centre for Economics and Business Research

Firstpost  

The CEBR takes its base data from the IMF’s World Economic Outlook and uses an internal model to forecast growth, inflation and exchange rates According to the Centre for Economics and Business Research, the world will experience a recession in 2023 as a result of rising borrowing prices intended to combat inflation. According to the British consultancy’s annual World Economic …

Explained | Is the economy driving with the brakes on?
1 year, 11 months ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

Global slowdown not mirrored in India, says Finance Ministry
2 years ago

Global slowdown not mirrored in India, says Finance Ministry

The Hindu  

India’s economic momentum has been sustained well in the third quarter of 2022-23 and there is cause for cautious optimism as the slowdown in global economic activity is not mirrored in India’s performance of various high-frequency indicators, the Finance Ministry said on December 23, 2022. The downsides of India’s widening current account deficit are expected to be limited by a …

Five key trends that will affect India’s economy in 2023
2 years ago

Five key trends that will affect India’s economy in 2023

Live Mint  

After two tumultuous years, finally we will be ending 2022 with some optimism. 'Bid to sully India’s tag as pharmacy of the world' 'EVs won’t need sops once market share surges' 2023 brings hope for FMCG companies Global headwinds to accentuate: With global GDP growth slowing to 2.7% in 2023 from 3.2% in 2022, the Indian economy cannot remain immune. …

Indian Economy Resilient But Sensitive To Global Headwinds, On Way To Post 7% Growth In FY23: RBI
2 years, 1 month ago

Indian Economy Resilient But Sensitive To Global Headwinds, On Way To Post 7% Growth In FY23: RBI

News 18  

India’s Q2 GDP Growth Forecast: The Reserve Bank of India on Friday said the Indian economy is resilient but also “sensitive to formidable global headwinds”. The central bank pegs the country’s GDP for the July-September 2022 quarter between 6.1 per cent and 6.3 per cent based on economic prediction models and high-frequency indicators, like IIP, PMI, core sector data and …

‘Recession’ is far too mild a term for what Britain is about to face
2 years, 1 month ago

‘Recession’ is far too mild a term for what Britain is about to face

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Brexit adds to the constraints on …

The Indian Economy In 2022 And What We Can Look Forward To In 2023 - News18
2 years, 1 month ago

The Indian Economy In 2022 And What We Can Look Forward To In 2023 - News18

News 18  

Opinion | The Indian Economy In 2022 And What We Can Look Forward To In 2023 Curated By : Last Updated: December 31, 2022, 10:30 IST India is simultaneously moving on all fronts. That the Indian economy is not overburdened with debt, particularly external debt, puts it in a good position to realise its ambitions in 2023 and beyond The …

Why recession clouds in parts of the globe can hit India's economic recovery
2 years, 2 months ago

Why recession clouds in parts of the globe can hit India's economic recovery

India Today  

A day after Russia escalated the war on Ukraine by raining missiles on its capital Kyiv, the International Monetary Fund, on October 11, announced what many have been fearing—that a large part of the globe will witness recession this year or the next. The IMF has cut India’s GDP growth to 6.8 per cent for 2022-23, from 7.4 per cent …

India is doing better and in relatively bright spot compared to others: IMF
2 years, 2 months ago

India is doing better and in relatively bright spot compared to others: IMF

Deccan Chronicle  

Washington: When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund official said on Tuesday. In that context, India is doing better and is in a relative bright spot compared to the other countries in …

'When everyone is slowing, India is doing better in economic growth…', says IMF
2 years, 2 months ago

'When everyone is slowing, India is doing better in economic growth…', says IMF

Hindustan Times  

When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund official said on Tuesday. 'When everyone is slowing, India is doing better in economic growth…', says IMF Just look at the global conjuncture right now, …

Most nations' economy slowing but India in relative bright spot: Top IMF official
2 years, 2 months ago

Most nations' economy slowing but India in relative bright spot: Top IMF official

India Today  

A top official at the International Monetary Fund has said at a time when most countries’ economic growth is slowing, India is doing better and is at a relatively brighter spot, despite several hiccups. The International Monetary Fund on Tuesday, October 11, revised its projection of India's economic growth in 2022 to 6.1 per cent, joining other international agencies that …

'Worst to come... 2023 will feel like recession': IMF warns, cuts India forecast
2 years, 2 months ago

'Worst to come... 2023 will feel like recession': IMF warns, cuts India forecast

Hindustan Times  

The International Monetary Fund on Tuesday cut India's 2022 economic growth forecast to 6.8 per cent - down from a January projection of 8.2 per cent and in July estimate of 7.4 per cent. India's GDP growth slashed to 6.8 per cent by International Monetary Fund In its latest World Economic Outlook, the IMF said over a third of the …

IMF lowers India’s growth forecast to 6.8% for 2022-23
2 years, 2 months ago

IMF lowers India’s growth forecast to 6.8% for 2022-23

Live Mint  

The International Monetary Fund on Tuesday sharply lowered India’s economic growth forecast to 6.8% in its latest World Economic Outlook, compared to 7.4% it had estimated earlier in July, citing the impact of external headwinds and weaker than expected second quarter growth. The multilateral agency retained India’s growth forecast for 2022-23 at 6.1%, despite lingering downside risks. “The outlook for …

As the West Paces Towards Recession, India's Economy Stands Strong
2 years, 4 months ago

As the West Paces Towards Recession, India's Economy Stands Strong

News 18  

Threats of a recession are hardly new. Take this for instance: The International Monetary Fund’s ‘World Economic Outlook’ report recently found that Russia’s economy is holding up better than expected despite being hit by a mountain of sanctions. First, gas supplies to Europe via the Nord Stream 1 were reduced to 40 per cent of the pipeline’s total capacity. India’s …

Nomura Says Many Major Economies Will Hit Recession In 2023
2 years, 5 months ago

Nomura Says Many Major Economies Will Hit Recession In 2023

News 18  

A report by Nomura Holdings Inc revealed many major economies will enter recessions over the next 12 months. Nomura said the Eurozone, the UK, Japan, South Korea, Canada, Australia and the US will fall into recession in the research note published by Rob Subbaraman and Si Ying Toh. In the US, Nomura predicted a shallow recession but a long one …

Indian Economy Better Placed To Strengthen Recovery Despite Adverse Global Events: RBI Annual Report
2 years, 6 months ago

Indian Economy Better Placed To Strengthen Recovery Despite Adverse Global Events: RBI Annual Report

News 18  

The Indian economy is relatively better placed to strengthen the recovery that is underway and improve macroeconomic prospects going forward despite adverse international developments including the geopolitical conflict in Europe, surging commodity prices and the coronavirus pandemic, the Reserve Bank of India on Friday said in its Annual Report 2021-22. India’s gross domestic product grew 5.4 per cent in the …

India's 2022 GDP Growth Downgraded to 4.6% Due to Ongoing War in Ukraine: UN Report
2 years, 8 months ago

India's 2022 GDP Growth Downgraded to 4.6% Due to Ongoing War in Ukraine: UN Report

News 18  

India's projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday. …

India’s true growth trajectory will be revealed next year
3 years ago

India’s true growth trajectory will be revealed next year

Live Mint  

The covid-19 pandemic dealt a severe blow to the Indian economy. Bright Spots Despite the uncertainties regarding the future course of the pandemic, the International Monetary Fund sees favourable short-term growth prospects for India. In a similar vein, the World Bank, in its Global Economic Prospects report published in June 2021, projected India’s economy to grow at 8.3% and 7.5% …

IMF downgrades India's growth projection to 9.5% for 2021-22
3 years, 4 months ago

IMF downgrades India's growth projection to 9.5% for 2021-22

India TV News  

The International Monetary Fund on Tuesday slashed its economic growth forecast for India to 9.5 per cent for the fiscal year to March 31, 2022 as the onset of a severe Covid-19 wave cut into recovery momentum. The forecast for 2021-22 is lower than the 12.5 per cent growth in GDP that the international organization predicted in April before the …

Evidence of Normalisation of India’s Economic Activity, Says IMF Chief Economist
3 years, 8 months ago

Evidence of Normalisation of India’s Economic Activity, Says IMF Chief Economist

News 18  

There is evidence of normalization of economic activities in India, IMF Chief Economist Gita Gopinath has said ahead of the annual spring meeting of the International Monetary Fund and the World Bank here. On Tuesday, the IMF projected an impressive 12.5 percent growth rate for India in 2021, stronger than that of China, the only major economy to have a …

India back to positive growth but Covid-19 still poses a downside risk, says IMF's Gita Gopinath | Exclusive
3 years, 8 months ago

India back to positive growth but Covid-19 still poses a downside risk, says IMF's Gita Gopinath | Exclusive

India Today  

The International Monetary Fund has projected an impressive 12.5 per cent growth rate for India in 2021, saying there is a normalisation of economic activity in the country. India Today TV and AajTak News Director Rahul Kanwal spoke to IMF's Chief Economist Gita Gopinath over the basis of the projection, what lies ahead and many other relevant issues, especially when …

India Exits Recession, Economy Records 0.4% Growth in December Quarter
3 years, 9 months ago

India Exits Recession, Economy Records 0.4% Growth in December Quarter

News 18  

India’s economy returned to growth in the December quarter, ending a recession induced by two successive quarters of economic contraction, and the recovery, which the the government termed as ‘V’ shaped, is expected to gather pace. The NSO said, “GDP at Constant Prices in Q3 of 2020-21 is estimated at Rs 36.22 lakh crore, as against Rs 36.08 lakh crore …

India exits recession but rapid GDP growth is still a long way off
3 years, 9 months ago

India exits recession but rapid GDP growth is still a long way off

CNN  

New Delhi CNN Business — India’s economy is out of recession but still a long way from returning to rates of growth seen before the pandemic. In a research note on Friday, Shilan Shah, senior economist at Capital Economics, estimated that GDP grew 9.2% in the last quarter of 2020 compared with the previous quarter, “enough to lift it back …

India's GDP Contracts 7.5 % in July-September, Economy Enters Technical Recession
4 years ago

India's GDP Contracts 7.5 % in July-September, Economy Enters Technical Recession

News 18  

India’s Gross Domestic Product contracted 7.5% in the July-September period in comparison to the same period last year, according to data released by the National Statistical Office on Friday. India has struggled to kick-start an economy that is expected to shrink 9.5% this year, according to estimates released by India’s central bank governor Shaktikanta Das last month. Meanwhile, the International …

The Hindu Explains | What is technical recession, and what does it mean for the Indian economy?
4 years, 1 month ago

The Hindu Explains | What is technical recession, and what does it mean for the Indian economy?

The Hindu  

The story so far: The Reserve Bank of India’s latest monthly bulletin features an article by an official at its Monetary Policy Department titled ‘An Economic Activity Index for India’, where the author has, in a ‘nowcast’, projected that India’s GDP contracted by 8.6% in the July-September quarter of the financial year ending in March 2021. Thus, “India has entered …

India in 'Technical Recession' for 1st Time in History, Says RBI in 'Nowcast'; July-Sept GDP to Contract 8.6%
4 years, 1 month ago

India in 'Technical Recession' for 1st Time in History, Says RBI in 'Nowcast'; July-Sept GDP to Contract 8.6%

News 18  

For the first time in history, India’s economy has entered a “technical recession” in the first half of 2020-21, a team of economists, including Michael Patra, Reserve Bank of India’s deputy governor in charge of monetary policy, stated. The government had in August reported a 23.9 percent contraction in its Gross Domestic Product for the April-June quarter. The central bank …

Finally, it falls to the farmer to rescue India\'s parlous GDP
4 years, 3 months ago

Finally, it falls to the farmer to rescue India\'s parlous GDP

Deccan Chronicle  

New Delhi: The release of GDP data for the corona-disrupted first quarter of 2020-21 on Monday came as a shocker despite the foreboding there had been for weeks earlier. "We are witnessing a V-shaped recovery as the economy unlocks E-way bills at 99.9 per cent vs August last year despite local lockdowns. As per the data, manufacturing has entered recession …

After sharpest GDP fall, chief economic advisor Subramanian says India witnessing V-shaped recovery
4 years, 3 months ago

After sharpest GDP fall, chief economic advisor Subramanian says India witnessing V-shaped recovery

India Today  

GDP numbers are out and they spell trouble for the Indian economy, already reeling under the pressure of the novel coronavirus pandemic and the subsequent nationwide lockdown. At -23.9 per cent, India is staring at a recession because the Indian economy has witnessed a contraction in growth for the two consecutive quarters now. Manufacturing, construction, trade, hospitality and transport which …

Indian Economy to See Sharp V-shaped Recovery in Q3, Q4: 15th Finance Panel Chief NK Singh
4 years, 4 months ago

Indian Economy to See Sharp V-shaped Recovery in Q3, Q4: 15th Finance Panel Chief NK Singh

News 18  

India will see a sharp V-shaped recovery in the third and fourth quarter of the current fiscal, but FY21 GDP growth would ultimately be in negative territory as the coronavirus lockdown led to serious demand and supply dislocations, 15th Finance Commission Chairman NK Singh said on Monday. The growth projections for current year by various global and domestic agencies indicate …

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