India is projected to grow at 6.3 per cent in 2015 and 6.5 per cent in 2016, when it is likely to cross China's projected growth rate of 6.3 per cent, the IMF said.
Two months back the bank had made a projected the GDP growth at 5.6 per cent for the same fiscal.
'The market should maintain optimism on the back of range-bound oil prices, a robust fiscal balance sheet, a better-than-expected monsoon, and moderating inflation.'
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
Calling for immediate policy action by the government, it warned that in the absence of such a step the GDP growth could slide even deeper -- to 4.3 per cent in 2012-13.
Days after keeping India's rating at lowest investment grade for 13th year in a row, the rating agency in a webinar said despite the contraction in GDP this year, the country continues to be an outperformer among the peer groups.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Water shortage is likely to lead to political tensions and instability in the future, warns Simon George, President, Cargill India.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
'While the country has been hit hard from a strong second wave of Covid, we believe the markets are willing to look through that.'
Domestic automobile retail sales rose 10 per cent in June driven by sales growth across various segments, including passenger vehicles and two-wheelers, automobile dealers body FADA said on Thursday. Total retail sales last month rose to 18,63,868 units from 17,01,105 units in the year-ago period. Passenger vehicle retail sales increased 5 per cent to 2,95,299 units as against 2,81,811 units in June 2022.
As US businessmen and investors await Prime Minister Narendra Modi's US visit, the investor community and the industry leaders said the success of 'Mangalyaan' goes on to prove India's growth story based on 'frugal innovations'.
The panel noted that the macro-economic fundamentals of the economy are sound but challenges remain, several of which are structural in nature.
The Paris-based firm, which employs over 120,000 people in 40 countries, is a major provider of consulting, technology and outsourcing services with revenue of more than Euro10 billion (about $13 billion) last year.
The OECD, in March, projected 4.3 per cent economic expansion for India in 2009. The report further said the extent of the deterioration in the fiscal position prior to the slowdown has reduced the scope for 'discretionary fiscal policy action'.
The world has recognised India as a bright star as the country is recording healthy economic growth despite global uncertainties, finance minister Nirmala Sitharaman said on Wednesday. India's growth at 7 per cent in the current fiscal is the highest among major economies and the Indian economy is on the right track, she said in her Budget speech.
It said that while the Union Budget for 2009-10 is expansionary and conducive to growth, the failure of the monsoon and its significantly adverse impact on agriculture and industry will shave off 0.8 percentage points from the GDP growth rate.
'India has benefited from lower oil prices and remains the fastest-growing large economy in the world.'
The brokerage firm cautioned that there is a possibility of further downside risks to growth, especially in the near term as RBI's policy interest rate cuts in recent months has not been translated into reduction in bank lending rates.
Disney Star India, bought at a valuation of $15 billion, could be on the block for roughly one-third that amount.
S&P Global Ratings on Monday retained its forecast of 9 per cent contraction in the Indian economy for the current fiscal, saying even though there are now upside risks to growth but it will wait for more signs that COVID infections have stabilised or fallen. S&P, in its report on Asia Pacific, projected the Indian economy to grow at 10 per cent in the next fiscal.
The meeting was held at the newly built convention centre at Pragati Maidan, which will host the G20 summit in September.
Singh, who is Chairman of the Planning Commission, made a case for reorienting the body to remain relevant in the globalised world.
Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the prime minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said. During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added.
The Indian economy is reviving, helped by positive policy actions.
Moody's has forecast that China would be the only G-20 country to post growth this year.
Prime Minister Narendra Modi will address a gathering of Indian Americans from across the US in Washington on June 23 on the role of diaspora in India's growth story, an eminent community leader has said.
'We have to be prepared on the borders to withstand Chinese expansionist designs.'
Monetary tightening to contain overheating as well as inadequate infrastructure is likely to slow down India's growth to moderate 8 per cent next fiscal against the expected 9.2 per cent, the Asian Development Bank has forecast.
Revenue share from India has inched up to nearly 0.8 per cent of its global sales. The revenue growth rate is in stark contrast to the firm's performance in volume terms.
The World Bank said on Wednesday rise in interest rates and oil prices is likely to slow down India's growth for the next few years.
The outlook of a negative growth in agriculture comes on the back of the Indian Meteorological Department's revised rainfall forecast and uncertain impact of mitigants such as ground water harvesting and modification of cropping patterns.
Moody's expects macroeconomic policies to contribute to sustained robust growth.
Elaborating on the reasons behind the expected slowdown in the country's economic growth, the multilateral lending agency said it 'stems from a moderation in domestic demand, as elevated inflationary pressures have cut into disposable incomes and household spending'.
'...over the long-term can be done only by investing in equities.' 'And during weak macros, one needs t1o allocate more than drawing it down, because they offer the best entry point.'
'The Supreme Court was created for safeguarding the interests of our country but it is being used as a tool by the opponents of India in their efforts to clear their way'
Supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects, India's growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, the IMF said.
India has an unprecedented opportunity to develop solar industry because like China, it offers scale which is critical to reducing costs and to stimulate innovation, says Shyam Saran.
'We are an inherently Maritime Nation -- with the sea on three sides and high mountains on the fourth. It is but natural that the oceans would play a vital role in India's growth and prosperity,'
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