Want growth? Just teach India better, keep everyone healthy and yes, drop those EV subsidies
1 week, 5 days ago

Want growth? Just teach India better, keep everyone healthy and yes, drop those EV subsidies

New Indian Express  

Our current year's budget was presented in July and expected to build on the 8.2% growth in GDP of the previous year. If our economic growth continues on the present trajectory, we are not likely to remain the most attractive FDI destination for long, thereby putting pressure on INR exchange rate. Will large businesses, driven by quarterly performance, be willing to build capacity ahead of demand or invest in building people’s capability that can, in turn, help drive investment in R&D, given that the growth in personal consumption expenditure is sluggish and discretionary spend is limited? Given that the real growth in household earnings itself is low, how far would a reduction in interest rates help drive credit-led household consumption or investment growth? How far can the Indian banks and non-bank finance firms drive credit-led consumption and investment growth, given that they have only recently recovered from the damage done to their balance sheet during the global financial crisis?

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DC Edit | Fall in consumption signals economic slump lies ahead
6 days, 7 hours ago

DC Edit | Fall in consumption signals economic slump lies ahead

Deccan Chronicle  

The Indian economy is likely to record the slowest growth in the last four years at 6.4 per cent in the next financial year 2024-25, according to the first advance estimates released by the government on Tuesday. The growth in the manufacturing sector, constrained by weak exports and slowing global demand, is expected to muted at 5.3 per cent from …

India Sees Economic Growth at 6.5% for the Year Through March
2 weeks, 5 days ago

India Sees Economic Growth at 6.5% for the Year Through March

Live Mint  

-- India expects the economy to grow at around 6.5% in the year through March, against 8.2% a year before, after the economy slowed unexpectedly in the July-September quarter. “We expect the economy to grow at around 6.5% in real terms in financial year 2024-25,” the Department of Economic Affairs said in its monthly economic review for November. “India’s growth …

India’s Economy Is Likely to Grow by 6.5 per Cent in the Current and the Next Financial Year
2 weeks, 6 days ago

India’s Economy Is Likely to Grow by 6.5 per Cent in the Current and the Next Financial Year

Deccan Chronicle  

New Delhi: India's economy is likely to grow by 6.5 per cent in the current and the next financial year, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. The economy continued to be negative even in October 2024 at 8.4 per cent, implying that in the first seven …

India’s high-frequency indicators recovering in Q3, to lift GDP in H2: RBI December Bulletin
Trending News
3 weeks ago

India’s high-frequency indicators recovering in Q3, to lift GDP in H2: RBI December Bulletin

Live Mint  

Mumbai: Several high-frequency indicators for the third quarter of the current financial year show that the Indian economy is recovering from the slowdown in momentum witnessed in the previous three months ended September, according to a paper in the Reserve Bank of India’s monthly bulletin. The recovery in Q3 of FY25 is being driven by strong festival activity and sustained …

Will India's economic growth pick up pace? Nirmala Sitharaman answers
4 weeks, 1 day ago

Will India's economic growth pick up pace? Nirmala Sitharaman answers

India Today  

Finance Minister Nirmala Sitharaman on Tuesday said that India’s economy will see healthy growth in the coming quarters despite the lower-than-expected GDP numbers for the second quarter. India’s GDP growth for the July-September quarter fell sharply to 5.4% from 6.7% in the previous quarter, marking an 18-month low, as per data released by the National Statistics Office in November. However, …

Growth slowdown: Why lay a deeper economic malaise at RBI’s door?
4 weeks, 2 days ago

Growth slowdown: Why lay a deeper economic malaise at RBI’s door?

Live Mint  

Chapter 16 in the Book of Leviticus, Old Testament, enjoins Aaron to organize sacrifices and expiate the sins of all Israelites. Various ministers, government officials and sundry industry representatives have been hinting at RBI culpability in India’s economic slowdown and have called upon its monetary policy committee to cut rates in support of growth. The debate began with this year’s …

Home loans may become more affordable and boost the real estate sector, experts say
1 month, 1 week ago

Home loans may become more affordable and boost the real estate sector, experts say

Hindustan Times  

The Reserve Bank of India's December 2024 monetary policy decision will make home loans cheaper and benefit India's real estate sector, according to several industry experts. The central bank's monetary policy committee decided to keep the repo rate unchanged at 6.5% for the 11th consecutive time, but slashed the cash reserve ratio by 50 basis points, bringing it down to …

India’s GDP growth shocker: Bad news can be good too
1 month, 1 week ago

India’s GDP growth shocker: Bad news can be good too

Live Mint  

India’s growth in gross domestic product of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It’s the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. Given the …

India’s growth slowdown: Yes, RBI does need to respond
1 month, 1 week ago

India’s growth slowdown: Yes, RBI does need to respond

Live Mint  

The Indian economy is in the midst of a cyclical slowdown. The Indian government is still in the process of getting public finances back into shape after the pandemic shock, when it had to support economic activity even as tax collections collapsed. There is a compelling case for the monetary policy committee, which is meeting this week to decide its …

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027
2 months ago

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027

Deccan Chronicle  

New Delhi: S&P Global Ratings on Thursday projected the Indian economy to grow between 6.5-7 per cent annually in the three fiscal years till March 2027 as infrastructure spending and private consumption drive growth momentum. “Good economic growth prospects will continue to support banks' asset quality, while healthy corporate balance sheets, tighter underwriting standards and improved risk management practices will …

India growth slows to 6.7% on lower consumer spending
4 months, 2 weeks ago

India growth slows to 6.7% on lower consumer spending

Hindustan Times  

India's economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world's fifth-largest economy. India growth slows to 6.7% on lower consumer spending Friday's reading still places the world's most populous country among the fastest-growing major economies globally. Year-on-year gross domestic product grew at …

How weak consumption growth is holding back the Indian economy's potential
5 months, 2 weeks ago

How weak consumption growth is holding back the Indian economy's potential

Hindustan Times  

Ashlesh —34-year-old former data entry operator at a small firm in Ghaziabad, and originally from the village of Ambar Nagar in Balrampur, in Uttar Pradesh — immediately wanted to make it big in life the day after he had lost his job. ‘As if there is no effect of the high growth here,” Ashlesh said, echoing concerns shared by Amit …

Economic Survey 2024: Households not in Distress
5 months, 3 weeks ago

Economic Survey 2024: Households not in Distress

Deccan Chronicle  

New Delhi: Keeping in view the investing trend of people in the country, chief economic advisor V Anantha Nageswaran on Monday said that households are not in distress as they are investing more in financial assets and their market values are not captured in the national income data. As per the Economic Survey 2023-24, the registered investor base at NSE …

GDP growth maintaining pace seen in Q4, says RBI bulletin
6 months, 3 weeks ago

GDP growth maintaining pace seen in Q4, says RBI bulletin

Live Mint  

Mumbai: The Indian economy is likely to sustain the growth momentum of the January-March quarter in the three months through June as private consumption grows and manufacturing and services pick up pace, Reserve Bank of India officials said. “More recent indicators suggest that private consumption is resuming its role as the main driver of demand and is getting broad-based to …

GDP growth impresses, but rural demand remains a worry
7 months, 2 weeks 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 …

What is the outlook on the global economy? | Explained
8 months, 3 weeks ago

What is the outlook on the global economy? | Explained

The Hindu  

The story so far: The International Monetary Fund released the latest global financial stability report on Tuesday warning about the risks to the global financial system from persistent high inflation, rising lending in the unregulated credit market, and increasing cyber-attacks on financial institutions. Investors have been pushing up the prices of financial assets such as stocks in recent months in …

Risky premise: On Asian Development Bank forecast, India’s GDP growth
9 months ago

Risky premise: On Asian Development Bank forecast, India’s GDP growth

The Hindu  

The Asian Development Bank on Thursday raised its forecast for India’s GDP growth in the current fiscal year ending on March 31, 2025, to 7%, from 6.7% earlier, citing robust public and private investment as well as expectations of a gradual improvement in consumer demand as the rural economy recovers. The ADB’s latest growth forecast for India’s GDP is, however, …

S&P ups India growth forecast to 6.8% for FY'25
9 months, 2 weeks ago

S&P ups India growth forecast to 6.8% for FY'25

The Hindu  

S&P Global Ratings on March 26 raised India’s growth forecast for the next financial year to 6.8%, but flagged restrictive interest rates as a dampener for economic growth. “For Asian emerging market economies, we generally project robust growth, with India, Indonesia, the Philippines, and Vietnam in the lead,” S&P said in its Economic Outlook for the Asia Pacific. In largely …

Real GDP growth may hit 8% this fiscal year, signals FinMin
9 months, 3 weeks ago

Real GDP growth may hit 8% this fiscal year, signals FinMin

The Hindu  

India’s economy may well end up growing by about 8% this fiscal, outstripping the 7.6% real GDP growth projected by the National Statistical Office, the Finance Ministry signalled on Friday, citing the continuing momentum in economic activity in the ongoing final quarter of 2023-24. Despite risks such as “hardening crude oil prices” and “global supply chain bottlenecks to trade”, the …

Fin Ministry Attributes India's Growth Amid Global Slowdown To Strong Investment And Demand
9 months, 3 weeks ago

Fin Ministry Attributes India's Growth Amid Global Slowdown To Strong Investment And Demand

ABP News  

Robust investment activity and strengthening private consumption demand is driving growth in the Indian economy amidst the sluggish global growth, according to the Finance Ministry’s monthly review released on Friday. The strong demand is evident from indicators like burgeoning air passenger traffic and sale of passenger vehicles, rising digital payments, improved consumer confidence and expectations of a normal monsoon, the …

RBI pegs FY'25 GDP growth at 7% on improved consumption demand, private capex spends
11 months ago

RBI pegs FY'25 GDP growth at 7% on improved consumption demand, private capex spends

The Hindu  

The Reserve Bank of India on February 8 projected GDP growth for the next financial year at 7% on the back of improved household consumption and upturn in private capex cycle. In its Monetary Policy Statement, 2023-24, RBI Governor Shaktikanta Das said the recovery in rabi sowing, sustained profitability in manufacturing and underlying resilience of services should support economic activity …

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL
11 months, 1 week ago

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL

The Hindu  

“The Indian economy is expected to grow at an average rate of 6.7% per annum until the end of the decade,” CRISIL said in its latest report. “This is a result of the investment-driven strategy of the government when the private sector was shy of making investments.” “The government increased capital expenditure significantly to support building expenditure and providing interest-free …

Riding high on the growth momentum
1 year 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 …

Crushed by inflation, populace using loans to make ends meet: Congress
1 year, 2 months ago

Crushed by inflation, populace using loans to make ends meet: Congress

The Hindu  

Expressing concern over the economic trends emerging from the Reserve Bank of India’s October bulletin, the Congress on Wednesday alleged that a vast majority of Indians are suffering because of economic “mismanagement” by the BJP-led Centre. Congress general secretary Jairam Ramesh said the October bulletin “shows extremely concerning economic trends” as inflationary trends have remained above the RBI’s threshold level …

Are Indians saving enough? There is no clear answer
1 year, 3 months ago

Are Indians saving enough? There is no clear answer

Live Mint  

Indian household borrowings rose sharply last year, as per recently released Reserve Bank of India data. This led to a decline in household net financial savings—defined as household financial savings during the year minus financial borrowings—to just about 5% of nominal gross domestic product in 2022-23, a 2.5% annual drop. In fact, net household financial savings seem to be still …

Decoding the historic decline in financial savings of Indian households | In Focus podcast
1 year, 3 months ago

Decoding the historic decline in financial savings of Indian households | In Focus podcast

The Hindu  

October 05, 2023 04:03 pm | Updated 04:05 pm IST The net financial savings of households in India has fallen to a five-decade low of just 5.1% of the GDP in FY 2023. This is a worrying development, because a high savings rate has traditionally correlated with a healthy growth rate. Data released by the RBI also shows that at …

Have household savings reduced?
1 year, 3 months ago

Have household savings reduced?

The Hindu  

The release of the Reserve Bank of India’s Monthly Bulletin in September revealed that households’ net financial savings had fallen to 5.1% from 11.5% in 2020-21. The Finance Ministry explained that while household financial savings may be reducing, it did not imply total savings were falling, since households took advantage of low interest rates after the pandemic to invest in …

The tumble in India’s savings rate needs to be reversed
1 year, 3 months ago

The tumble in India’s savings rate needs to be reversed

Live Mint  

A farmer has to set aside a portion of the seeds from his harvest to be used for next year’s sowing. The intuition that a high savings rate sustains high growth has been tested and confirmed across the world and has withstood all macroeconomic crises and business cycles. Much of the East Asian long-term miracle growth was predicated on a …

An uneven rebound: The Hindu Editorial on the economy
1 year, 4 months ago

An uneven rebound: The Hindu Editorial on the economy

The Hindu  

India’s economy, as measured by the Gross Domestic Product as well as the Gross Value Added, grew 7.8% in the first quarter of the year. But the months ahead could prove to be more challenging with global headwinds that have hit goods exports and manufacturing already, combining with domestic pressures from the renewed spurt in inflation and the likelihood of …

’Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’
1 year, 4 months ago

’Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’

Live Mint  

India’s financial market assets including equities, private markets, bond yields, are expected to benefit structurally from a favourable macroeconomic backdrop over the next few years. According to a report by Standard Chartered, India’s corporate profit cycle remains the strongest since the 2004-08 cycle as the benchmark Nifty index EPS grew at an average 20 per cent between FY21 and FY23 …

Growth in India is expected to slow to 6.3% in FY2023: World Bank
1 year, 7 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 …

We must incentivize household savings for fast economic growth
1 year, 7 months ago

We must incentivize household savings for fast economic growth

Live Mint  

Prime Minister Narendra Modi has given a clarion call for India to become a developed country by 2047 when we celebrate 100 years of India’s independence. However, this alone is not a good enough explanation, since India has gone through slower GDP growth phases in the past as well without witnessing such a steep decline in household savings. We argue …

India's economic growth to slow down considerably this year: Economists
1 year, 8 months ago

India's economic growth to slow down considerably this year: Economists

India Today  

Top global institutions have forecast India to be the fastest-growing economy in FY24, as the country remains resilient from global shocks that have brought major economies to their heels. India’s domestic growth prospects remain robust, but economists feel that there is no escaping the cascading impact of the global economic slowdown, which could hurt various key segments of growth. The …

ADB pares India’s growth hopes to 6.4%
1 year, 9 months ago

ADB pares India’s growth hopes to 6.4%

The Hindu  

The Asian Development Bank has slashed its growth projection for India for 2023-24 sharply from 7.2% estimated earlier to 6.4%, attributing the cut to the global economic slowdown, tight monetary conditions, and persistently elevated oil prices. While domestic consumption demand is likely to stay healthy, private investment growth is likely to be lower this year due to high lending rates …

Indian economy likely to grow at 6.5 per cent in coming decade, predicts CEA
1 year, 9 months ago

Indian economy likely to grow at 6.5 per cent in coming decade, predicts CEA

Live Mint  

Chief Economic Advisor V Anantha Nageswaran on Wednesday said that the Indian Economy is likely to grow at the rate of 6.5 per cent in the coming decade on the back of the turnaround in financial and investment cycle. "So, I think the restoration of the financial, credit and the investment cycle in the commercial sector and the real estate …

A fragile momentum: On the economy and India’s growth
1 year, 10 months ago

A fragile momentum: On the economy and India’s growth

The Hindu  

On the face of it, the 5.2% uptick in India’s Index of Industrial Production this January is a good new year tiding for a metric that had seen two months of contraction in the previous five months. Manufacturing rose 3.7%, which is slightly better than December’s 3.1% increase, but 10 of 23 tracked sub-sectors recorded contractions in output and five …

India's Economic Survey Likely To Peg 2023-24 Growth At Slowest In 3 Years: Report
1 year, 11 months ago

India's Economic Survey Likely To Peg 2023-24 Growth At Slowest In 3 Years: Report

News 18  

India’s annual pre-budget economic survey is likely to peg GDP growth at 6-6.8% for 2023-24, according to a source. Growth in the financial year beginning April 1 will remain strong relative to most global economies, led by sustained private consumption, a pick-up in lending by banks and improved capital spending by corporations, the survey will likely say, the source said. …

Indian GDP to grow 5.8%: UN
1 year, 11 months ago

Indian GDP to grow 5.8%: UN

Deccan Chronicle  

Chennai: As higher interest rates and a global slowdown weigh in on investment and exports, India is expected to grow at 5.8 per cent in 2023 and 6.7 per cent in 2024. Similarly, in South Asia, the economic outlook has significantly deteriorated due to high food and energy prices, monetary tightening and fiscal vulnerabilities and average GDP growth is projected …

Keep an eye on these economic indicators in 2023
2 years ago

Keep an eye on these economic indicators in 2023

Live Mint  

Global headwinds, tightening monetary policy and the lingering effects of the pandemic have combined to create a gloomy global outlook. In its December bulletin, the Reserve Bank of India said that with balance of risks being tilted towards a darkening global outlook and emerging markets appearing more vulnerable, the Indian economy needs support from domestic growth drivers. Sectoral deployment of …

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 …

Indian banks to see record credit growth of over ₹19 trillion in FY23: Icra
2 years ago

Indian banks to see record credit growth of over ₹19 trillion in FY23: Icra

Live Mint  

New Delhi: Indian banks are likely to witness a record high credit growth, surpassing the ₹19 trillion in the current fiscal year, domestic rating agency Icra said on Monday. Further, the growth momentum is expected to remain strong in FY2024 as well, even though rising interest rates and tight liquidity conditions could moderate the growth,” said Anil Gupta, senior vice …

Economy On Track To Achieve 6.8-7 Per Cent Growth In FY23: CEA V Anantha Nageswaran
2 years, 1 month ago

Economy On Track To Achieve 6.8-7 Per Cent Growth In FY23: CEA V Anantha Nageswaran

ABP News  

The Indian economy is on track to achieve 6.8-7 per cent GDP growth in this financial year, said Chief Economic Advisor V Anantha Nageswaran, on Wednesday. Nageswaran's comments came after the latest data showed India's GDP growth more than halved to 6.3 per cent in July-September. In 2022-23, the economy is on track to achieve 6.8-7 per cent growth,” Nageswaran …

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 …

World Bank pares India FY23 growth projection to 6.5%
2 years, 3 months ago

World Bank pares India FY23 growth projection to 6.5%

The Hindu  

The World Bank has estimated that India will grow 6.5% in the current fiscal year, after having grown at 8.7% in the fiscal year ended March 31. The slowing in India’s growth during the current fiscal year, relative to the previous one, was because most of the COVID recovery happened last year, the report said. Although India growth estimates are …

India likely to double home loans to $600 billion in 5 years: HDFC’s Parekh
2 years, 7 months ago

India likely to double home loans to $600 billion in 5 years: HDFC’s Parekh

The Hindu  

Demand for home loans will continue to remain robust and India should be able to double its home loans to about $600 billion in the next five years, HDFC Ltd. chairman Deepak Parekh said in a letter to shareholders. Mr. Parekh said despite the doubling of housing loans, India’s mortgage penetration would still remain low at 13% of the GDP. …

DC Edit | The growth story continues
2 years, 7 months ago

DC Edit | The growth story continues

Deccan Chronicle  

In spite of local lockdowns and the impact of Delta and Omicron variants of the coronavirus, the Indian economy has managed to grow by 8.7 per cent in the financial year 2021-22. In contrast, consumption — both private and government — trailed investment as the government’s focus has been on creating future assets while boosting economic growth. Faster growth in …

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%
2 years, 7 months ago

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%

News 18  

India’s gross domestic product grew 4.1 per cent in the fourth quarter of the financial year 2021-22. For the full financial year 2021-22, the GDP saw a growth of 8.7 per cent. The GDP growth of 8.7 per cent in 2021-22 is significantly better than last year’s 6.6 per cent contraction and points towards a recovery from the pandemic-driven slowdown. …

From steady growth to lower inflation: 6 key takeaways from RBI Annual Report 2022-23
2 years, 10 months ago

From steady growth to lower inflation: 6 key takeaways from RBI Annual Report 2022-23

India Today  

The Reserve Bank of India on Tuesday released its annual report 2022-23, where it shed light on different aspects of the Indian economy, ranging from GDP growth to inflation. Moderate inflation risks The RBI said inflation has moderated with downward corrections in global commodity and food prices and “easing of the pass-through from high input cost pressures of last year”. …

Private consumption expenditure and demand: Please ma’am, we need some more
2 years, 11 months ago

Private consumption expenditure and demand: Please ma’am, we need some more

Live Mint  

Slowdown in personal consumption is the single biggest problem facing our economy. The double whammy of lower employment and Covid-19 has meant a significant reduction in consumption for low and lower-middle income households. This has meant a delayed recovery on many key sources of consumption – automotive, high value durables, OOH and discretionary spends like retail, restaurants and personal care. …

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