The change in stance to neutral from accommodative in the June monetary policy meeting does not necessarily signal that the Reserve Bank of India's (RBI's) rate setting body - monetary policy committee (MPC) - will go on a prolonged pause on rate cuts going forward, believe experts.
Growth projections for 2013-14 has been arrived at by taking into account present internal and external factors.
China's economic growth fell to 7.6 per cent year-on-year in the second quarter of 2012, from 8.1 percent in the first quarter, the slowest growth since first quarter of 2009.
India's economy grew 7.8 per cent in the March quarter, pushing up the annual growth rate to 8.2 per cent, according to official data released on Friday. Growth in the January-March period was lower than the 8.6 per cent expansion in the December quarter.
The economy is poised to grow by 8.1 per cent this fiscal powered by a 9.1 per cent rise in farm output, according to the advanced estimates of Central Statistical Organisation.
A majority of corporate honchos feel that reviving India's overall economic growth to seven per cent will be feasible in the next fiscal, a survey by industry body Assocham said.
In a bid to promote the use of domestic currency for cross-border settlements, the Reserve Bank on Wednesday announced a slew of measures, including allowing banks to lend in Indian Rupees to non-residents from Bhutan, Nepal and Sri Lanka for bilateral trade.
The ministries of Road Transport & Highways and Railways have exceeded the national average capital expenditure (capex) by spending 63 per cent and 57 per cent of Budget estimates (BE), respectively, in the first half of 2025-26 (FY26). The total capital expenditure for April-September of FY26 stood at 52 per cent of the BE, according to the latest data by the Controller General of Accounts (CGA).
India retains the tag of the fastest growing country among the world's major emerging economies
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
Prime Minister Narendra Modi on Saturday proposed a G20 initiative aimed at enhancing clean energy transitions by boosting recycling, easing supply chain pressures and advancing joint research on critical minerals, and suggested forging a partnership to make satellite data more accessible and interoperable.
India's service sector activity accelerated slightly in April largely driven by a quicker increase in new order inflows, which also underpinned a faster expansion in employment, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index reached 58.7 in April, up from 58.5 in March, indicating a sharp and stronger expansion in service sector output.
India's gross domestic product (GDP) growth slowed to 4.1 per cent in January-March 2022 period, while for the full year 2021-22 the growth stood at 8.7 per cent, according to the government data released on Tuesday. GDP at constant (2011-12) prices in Q4 2021-22 is estimated at Rs 40.78 lakh crore, as against Rs 39.18 lakh crore in Q4 2020-21, showing a growth of 4.1 per cent, as per the National Statistical Office (NSO) data. India's GDP growth has slowed for the third straight quarter.
Mixed views were expressed by top economists on the Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to hold the repo rate at 5.5% and maintain a neutral stance. While some say the decision was as expected and one more rate reduction is expected this fiscal, there is also a view that rate cut by MPC was warranted given the evolving global situation.
India's economic growth rate this fiscal is estimated to be sharply lower at 5 per cent, lowest in a decade, on account of poor performance of manufacturing, agriculture and services sector.
Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023.
RBI Governor Bimal Jalan said on Friday that the gross domestic product growth could be between 5-5.5 per cent in the current fiscal.
The European Union on Thursday said India will surpass 7.0 per cent growth this year and the new United Progressive Alliance government is expected to continue with reforms, including reduction in fiscal deficit.
S&P Global Ratings on Tuesday kept India's economic growth forecast in the fiscal year to March 2022 unchanged at 9.5 per cent but raised its predictions for the subsequent year on broadening out of the recovery. The Indian economy had shrunk by 7.3 per cent in 2020-21 fiscal (April 2020 to March 2021) as pandemic induced restrictions battered business activity. The gradual lifting of the restrictions has helped the economy to rebound from pandemic lows.
The Indian economy grew by 8.9 per cent in the first quarter (April-June)of this fiscal, up by 0.4 per cent compared to the same period last year.
Describing the current level of inflation as "unacceptable", Chief Economic Adviser in the Finance Ministry Kaushik Basu on Thursday indicated the government will revise downward the growth forecast for 2011-12.
Finance Minister Pranab Mukherjee said economic growth in 2011-12 likely to be 9 per cent, government while presenting the Union Budget for 2011-12 on Monday.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services and infrastructure sector firms are optimistic of the business outlook.
Indian economy slowed down in the third quarter of 2002-03 posting only 2.6 per cent growth due to a drastic fall in agriculture output after the drought.\n\n\n\n
Stock markets are in for an event-heavy week ahead with a raft of Q1 earnings from blue-chips, the US Fed interest rate decision and foreign investors trading activity driving investors' sentiment, analysts said. Macroeconomic data announcements, monthly auto sales numbers and global market trends would also guide movement in the domestic equities, they said.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
Indian economic growth slowed to 6.7 per cent in 2008-09 from 9 per cent in the previous three years in the aftermath of the global financial crisis.
Arun Jaitley presented the Union Budget in Parliament on Saturday.
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.
India's economic growth rate in the January-March quarter is likely to slip to 7.2 per cent q-o-q.
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
India's services sector activity eased slightly in March, weighed down by a marginal slowdown in sales amid softer demand conditions and easing inflationary pressures, a monthly survey said on Friday. The seasonally adjusted HSBC India Services PMI Business Activity Index fell from February's reading of 59.0 to 58.5 in March, but remained above its long-run average of 54.2.
The projected gross domestic product figure for the current fiscal, as put out by the advanced estimates of the Central Statistical Organisation, is lower than the Reserve Bank of India and the finance ministry's forecasts.
The North-West is expected to be hit the most.
India's new climate pledge to the UN could be weakened by its growing use of coal, even as the country plans a 2035 roadmap to cut emissions and boost clean energy.
Ahluwalia's assessment of economic growth is marginally higher than 6.3 per cent projected by the Commission earlier.
For villages in Sambalpur, revisiting old ponds has meant a return to prosperity.
Wholesale price inflation (WPI) softened to 0.13 per cent in September on easing in prices of food articles and manufactured items, government data showed on Tuesday. WPI-based inflation was 0.52 per cent in August and 1.91 per cent in September last year.
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