Recession-hit India Inc may not have done well in terms of Profit After Tax (PAT) growth in the previous fiscal, but FY 10 could see it clocking a robust over 77 per cent growth in PAT, an economic think-tank forecast in its latest report.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
The average inflation in the current fiscal is likely to be around 9.6 per cent as against 4.7 per cent in the last financial year, a leading economic think-tank has said.
'If businesses are focused on de-leveraging, they can hardly be investing. This is the price extracted by investment mistakes during UPA rule, and should have been foreseen. 'But Modi-I must share the blame, for muted reform of the financial sector, partisan policy in telecom, the harm done to exports by an over-priced rupee, and so on,' says T N Ninan.
According to a Centre for Monitoring Indian Economy press note, nearly 30.6 million hectares were sown as of November 23, against 34.5 million hectares a year ago.
Inflation and interest rates seem to be on top of everyone's mind at the moment.
Oilseeds production in India is going to move up. A new report says oilseeds growth in the country will be 16 per cent higher at 26.9 million tonnes during the fiscal as against 23.3 million tonnes produce in 2006-07.
Kharif foodgrains production will touch 103 million tonnes in 2003-04 compared to 90.5 million tonnes produced in the last year, according to the Centre for Monitoring Indian Economy.
Driven by a surge in manufacturing sector, the Index of Industrial Production is estimated to grow at 7.5 per cent in the current fiscal, according to Centre for Monitoring Indian Economy.
The second wave of COVID-19 and the resultant localised lockdowns have impacted over 75 lakh jobs, taking the unemployment rate to a four-month high of 8 per cent, the Centre for Monitoring Indian Economy (CMIE) said on Monday. The situation on the employment front is expected to continue to remain challenging going forward as well, CMIE's managing director and chief executive Mahesh Vyas said.
The delay in the current year's monsoon rains has heightened uncertainty over India's economic growth and pushed up the risks of a drought, according to a leading independent forecaster.\n\n\n\n
Indian tea exports are expected to decline by 6.9 per cent at 165 million kg in 2003 as compared to last year even as production is likely to record a 5.3 per cent rise at around 870 million kg.
Buoyed by the upbeat performance of the manufacturing sector, including metals, Centre for Monitoring Indian
With prices of fuel, sugar and metal products likely to remain high, the Centre for Monitoring Indian Economy on Tuesday raised the inflation forecast for 2004-05 to 6.5 per cent from the earlier estimate of five per cent.
Customers will not gain as much as it appears to be from reduction in excise duty on small cars as announced in the budget for 2006-07 as manufacturers had already raised the prices ahead of the Budget.
India's savings rate which has shown a sharp jump in the last few years is expected to decline to 34 per cent in FY'09, the Centre for Monitoring Indian Economy said in its monthly review.
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
The real gross domestic product growth is likely to touch 9 per cent in 2003-04 based on better than expected performance of the agriculture sector, according to Centre for Monitoring Indian Economy.
The Centre for Monitoring Indian Economy on Monday revised its projection of the GDP during 2003-04 to 8.2 per cent, much higher than the earlier forecast of 7.4 per cent.
The government's promise to review the tax structure for automobiles industry notwithstanding, the Centre for Monitoring Indian Economy on Monday
Passenger cars sales in India are expected to clock a 14 per cent growth this financial year on higher demand for compact and mid-sized cars, economic think-tank CMIE has forecasted.
With improved prospects for the farm sector, Centre for Monitoring Indian Economy on Friday raised the economic growth forecast for 2005-06 to 6.8 per cent from the earlier six per cent.
Clocking its highest growth in the last two years, the services sector has recorded a nine per cent increase in sales during the quarter-ended June 2003, a leading economic think-tank said on Monday.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
Centre for Monitoring Indian Economy expects industrial growth to slow to 4.5 per cent during 2003-04, due to adverse impact of drought on rural spending.\n\n\n\n
The Centre for Monitoring Indian Economy on Thursday revised growth forecast for the country's economic growth upwards to 6.2 per cent in 2004-05 as against earlier estimate of six per cent.
The Reliance Group and the Tata Group have emerged as first and the second largest wealth creators in the private sector for the financial year 2003-04 based on market capitalisation of group entities.
The Centre for Monitoring Indian Economy revised upwards its industrial forecast for 2003-04 by 1% to 5.5% as the food sector is expected to show a positive 3% growth as against the earlier projection of a decline of 0.4%.
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