As per the first advance estimates of national income released by the National Statistical Office (NSO) on Friday, the manufacturing sector output is estimated to grow to 6.5 per cent in the current fiscal compared to 1.3 per cent in 2022-23. Similarly, mining sector growth is estimated at 8.1 per cent in the current fiscal against 4.1 per cent in 2022-23.
Finance Minister Nirmala Sitharaman on Friday said the world is facing "profound imbalances" in trade and energy security, and is undergoing a structural transformation, with India standing out as a 'stabilising force' that can withstand external shocks.
In its Fifth Bi-monthly Monetary Policy Statement, 2017-18, RBI said the second quarter growth was lower than the one that was projected in the October review, and the recent increase in oil prices may have a negative impact on margins of firms and Gross Value Added (GVA) growth.
Investors would track a host of macroeconomic data announcements scheduled this week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors, analysts said. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets.
Sustaining the current 19.5 per cent growth rate in income and corporate tax collections may be difficult in next fiscal year given headwinds from a slowing world and high base effect, a government source said. Net direct taxes, which are made up of personal income tax and the tax levied on corporate earnings, have seen a record growth in current fiscal year, topping up the numbers projected in the Budget. The expected lower nominal GDP growth in 2023-24 on the back of threats of global recession could impact income tax collection, the government source told reporters ahead of the presentation of Union Budget 2023-24 on February 1.
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.
Enthused by the high 8.4 per cent growth in the second quarter, the Reserve Bank of India on Wednesday revised upwards the economic growth for 2003-04 at 7 per cent.
Google plans to invest $15 billion over the next five years in setting an artificial intelligence hub in Visakhapatnam, a senior official of the company said on Tuesday.
The economic growth target has been scaled down from 8.1 to 7-8 per cent annually during 2002-07 in the mid-term appraisal of the Tenth Five-Year Plan.
Economic think-tank NCAER on Wednesday pegged the gross domestic product growth at 6.5 per cent in this fiscal, which would accelerate to 7.4 per cent in 2005-06 if government carried out far-reaching reforms.
After declining to a three-year low in FY24, the private sector investment is expected to fall further in the current financial year, India Ratings said in a research note.. The investments in the private sector are likely to plummet to below 11 per cent of the GDP in FY25, based on the trends from the latest national accounts data and company fillings, it noted.
Confederation of Indian Industry on Thursday cautioned that agricultural growth could be negative two per cent, which in turn will pull down gross domestic product growth in 2004-05 if the monsoon continues to play truant for the next two weeks.
Credit rating agency ICRA on Tuesday lowered economic growth projection for the Indian economy to 6.3 per cent this fiscal from its earlier forecast of 6.5-6.7 per cent due to an expected fall in farm output. \n
Shiv Nadar and family donated Rs 2,708 crore (Rs 27.08 billion) in 2024-2025.
Economic think-tank NCAER has revised its projections for economic growth to 7.9 per cent for 2006-07, compared to 7.7 per cent made in April due to likely higher growth in industry and services sectors.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
Three months down the line, the National Council of Applied Economic Research has revised its forecast for the gross domestic product growth rate this fiscal by 0.3 per cent to 5.83 per cent due to better prospects in industrial outlook.
The World Bank on Thursday forecast a 6.7 per cent growth rate for India by next fiscal as exports and private investment are projected to strengthen and provide a boost to growth.
The growth in gross domestic product will surpass 7 per cent in the current financial year, finance minister P Chidambaram said Friday.
India's GDP growth has slowed down to 6.9 per cent in second quarter of 2011-12 from 8.4 per cent in corresponding period of previous year.
Reserve Bank of India on Friday said the inflation for the 2004-05 will be lower than estimated 6.5 per cent and the economic growth will be higher than projected 6-6.5 per cent.
Lower agricultural performance in the current financial year is likely to pull the economic growth down to 6.9 per cent from 8.5 per cent in the last financial year.
The government is aiming for an 8-10 per cent annual economic growth.
India economy clocked a five-year high growth rate of 7.6 per cent in 2015-16.
The economic think-tank National Council of Applied Economic Research on Thursday revised downward marginally India's economic growth to 6.62 per cent due to deceleration in farm output in 2004 even as fiscal deficit was slated to shrink to 4.52 per
The country's economy grew by a robust 9.2 per cent in July-September 2006-07 compared to 8.4 per cent in the second quarter of last year on the back of high growth in manufacturing and services sectors.
'...then preparing oneself for the long haul is also essential.' 'Identifying and holding onto values gives you strength to withstand the difficulties enroute.' 'Taking care of your physical, mental, and intellectual well-being gives you the strength to stay the path.'
The time is ideal for a 'Dream Budget' akin to the 1991 reforms that sparked high growth and unlocked significant gains in productivity, points out Rajeswari Sengupta.
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
Growth rate in per capita income is projected to fall to the lowest in 21 years this financial year - except for the financial years 2019-20 (FY20) and 2020-21 (FY21) - according to the first advance estimates. During the last 21 years, the two periods - FY20 and FY21 - saw growth rates in per capita income lower than 7.9 per cent, seen during FY24. This was despite the real gross domestic product (GDP) being projected to grow by 7.3 per cent in the current financial year by the first advance estimates.
The ratio of market capitalisation to gross domestic product (GDP) in India remains elevated despite the recent correction in the equities markets. It was 147.5 per cent on December 3, 56 per cent higher than the 10-year average of 94 per cent. The current ratio is slightly lower than the all-time high ratio of 154 per cent at the end of September this year.
The Reserve Bank on Tuesday lowered the growth projection for the current fiscal to 5.5 per cent from its earlier estimate of 5.7 per cent and asked the government to undertake policy measures to improve investment climate.
'Indian markets may underperform global peers for the next two quarters.' 'But beyond that, India should catch up and resume its long-term growth path.'
Foreign brokerages remain cautious on the road ahead for the Indian equity markets. Though analysts at Nomura have revised their March 2026 Nifty target to 26,140 levels from the earlier 24,970, but the upside from the current levels is a modest 6 per cent. BofA Securities, on the other hand, has not made any change to its year-end Nifty target.
The Asian Development Bank on Monday projected that Indian economy was poised to grow by 6 per cent this year, marginally better than South Asia's growth of 5.7 per cent.
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