'The terminal year could yield nine per cent.'
The Indian economy can clock an average of 9.5 per cent growth over the next five years provided capital investment to the tune of $1.5 trillion is made in the same period, says a study by industry body CII.
The argument that India is going towards a 'Hindu rate of growth' is "ill-conceived, biased and pre-mature" when weighed against the respective data on savings and investments, said SBI Research in its Ecowrap report. The term Hindu rate of growth was coined by economist Raj Krishna in 1978, which denoted the economic growth of about 3.5-4.0 per cent in terms of GDP during 1947-1980. "India's quarterly sequential Y-o-Y GDP growth has been in a declining trend in FY23.
Whether nominal or real, India's investment rate needs to increase by 3 to 4 percentage points of GDP to support 8 per cent real growth, recommends Nikhil Gupta.
Chief Economic Adviser K V Subramanian on Wednesday said India is expected to hit a growth rate of 6.5-7 per cent in 2022-23 and accelerate further to 8 per cent in the subsequent years on the back of reforms undertaken by the government. He also said the government is expected to meet the fiscal deficit target of 6.8 per cent in the current fiscal despite pressure on revenue collections.
New series points to a sharp recovery since FY14.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
The study points out that for the determination of growth and investment at the macroeconomic level, the real interest rate is more relevant, even though the nominal interest rate is important for investment planning at the firm level.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
The Confederation of Indian Industry has pegged the requirement for investment at Rs 280 lakh crore ($4.7 trillion) for five years beginning 2014-15 to make the economy grow by seven per cent a year on an average.
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The latest macro-economic numbers confirm the economy trundles along in a low growth trajectory, while inflation climbs.
Technically, the Indian economy is on road to recovery.
The Indian economy can grow if it is delinked from the slow growth in the West and the deceleration in China, says Ashok K Lahiri.
The share of foreign companies in private sector investments, directed towards building new factories and other facilities, has declined over the past six months. A mix of large domestic announcements and relatively lower growth in foreign capital expenditure (capex) plans have played a role, although foreign investments remain near record levels. The share of foreign companies in the overall private sector investments over the four quarters ended June 2023 has dipped to 14.9 per cent, as shown by a Business Standard analysis of data from the project tracker Centre for Monitoring Indian Economy.
Oil and Natural Gas Corporation has deployed the best-in-class technologies in its Improved Oil Recovery and Enhanced Oil Recovery schemes on these fields.
Addressing bankers and economists at Bancon 2013, a flagship event of the Indian Banks' Association, Chidambaram told the lenders to deal firmly with wilful defaulters, but handhold those who are reeling under the impact of the economic slowdown.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
'To bring about a paradigm shift in farmers's income, we need to change our approach to agriculture, and transit from the narrow prism of cultivation to a full-fledged enterprise, by building all associated supply chain linkages.' 'This alone will make the farmer an entrepreneur in his own right.'
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