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'Well done India': Top economists laud 8.2% GDP growth in FY24

YourStory

YourStory · 1y ago

'Well done India': Top economists laud 8.2% GDP growth in FY24

India's GDP growth rate of 8.2% in FY24 received praise from leading economists, exceeding estimates and positioning India as the fastest-growing large economy. Manufacturing and mining sectors performed strongly, propelling India's economy to $3.5 trillion and setting the stage for the $5 trillion target in the coming years. Despite moderate growth in Q4 FY24, India's GDP growth rate outperformed expectations and reflected the country's economic resilience and buoyancy amidst global challenges. Experts anticipate that the growth momentum will continue in FY25, driven by manufacturing.

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US levies may hit growth, but local demand will soften blow: Economists

Economic Times

Economic Times · 8d ago

US levies may hit growth, but local demand will soften blow: Economists

US President Trump's 25% tariff on Russian imports may reduce India's GDP growth by 20-30 basis points this fiscal year, notes economists. Despite this, India's economy, driven largely by domestic demand, is expected to bear minimal impact. Economists like Goldman Sachs project a slight 0.3 percentage point drop in GDP growth. S&P and others predict small declines but emphasize India's trade surplus and domestic orientation as cushions against significant economic disruption.

The Future of India’s Economy Under Modi 3.0 - Business Byte

Business Bytes

Business Bytes · 1y ago

The Future of India’s Economy Under Modi 3.0 - Business Byte

The Indian economy has been showing resilience despite challenges posed by the COVID-19 pandemic. The country has witnessed impressive GDP growth rates for three consecutive years, with a projected 8.2% increase in the financial year 2023-24. The fiscal deficit has been well managed, with a target of 5.1% for the current fiscal year. Reforms and development are expected to continue, focusing on infrastructure, digitalization, and manufacturing. Overall, the economy is well-positioned for sustained growth under the leadership of Modi 3.0.

India's economy grows faster-than-expected 7.8% in Jan-March

VCCircle

VCCircle · 1y ago

India's economy grows faster-than-expected 7.8% in Jan-March

India's economy exceeded expectations, growing at a rate of 7.8% in the first quarter of 2024. Consumer demand and government spending contributed to this growth, and economists predict continued strong momentum. This growth figure is lower than the previous quarter's 8.6% expansion but higher than the 6.7% forecasted by experts. India's economic growth for the full fiscal year 2023/24 was revised up to 8.2%, making it the highest among major economies. These growth estimates bode well for Indian Prime Minister Narendra Modi, who is likely to secure a third term in the upcoming national election.

Fed’s Favored Price Gauge Seen Substantiating Rate Cut

Livemint

Livemint · 10m ago

Fed’s Favored Price Gauge Seen Substantiating Rate Cut

The Federal Reserve's price index and consumer demand are expected to support the central bank's interest rate cut as well as Chair Jerome Powell's belief in a strong economy. Economists predict that the personal consumption expenditures price index will rise by only 0.1% in August, reflecting a slowdown in inflation compared to the previous year. The decrease in inflation pressures has given the Fed confidence to lower rates. Other economic data to watch includes GDP, jobless claims, and durable goods orders. In Canada, GDP data for July and August is expected to show weak growth.

What to look for in the GDP data for the April-June 2024 quarter

Money Control

Money Control · 11m ago

What to look for in the GDP data for the April-June 2024 quarter

The GDP data for the April-June 2024 quarter is highly anticipated by economists and investors. There are several key factors to consider when analyzing this data. First, the overall growth rate of the economy will be closely watched, as it provides an indication of the country's economic performance. Additionally, the components of GDP, such as consumer spending, business investment, government expenditure, and net exports, will be important to assess the individual sectors' contributions to overall growth. Any significant changes in these components can have implications for future economic trends and market conditions.

India's economic growth set to accelerate to its fastest in a year

Reuters · 1y ago

India's economic growth set to accelerate to its fastest in a year

India's economy expanded at its swiftest rate in a year during the April-June quarter, primarily driven by services and manufacturing growth. Economists forecasted GDP growth of 7.7% for the quarter, up from 6.1% in the previous quarter, supported by lower commodity prices benefiting manufacturers. Strong growth in India's services sector, which constitutes more than half of its economic output, has helped it outpace the global slowdown affecting major economies. However, experts warn that factors such as rising prices, slowing global growth, and lower agricultural output could affect future growth.

Titan Results Live: Net profit seen up 8% YoY; jewellery segment to aid revenue

Livemint

Livemint · 1y ago

Titan Results Live: Net profit seen up 8% YoY; jewellery segment to aid revenue

Titan Company is expected to report a net profit increase of 8.2% YoY in Q4, with its jewellery segment likely to contribute to revenue growth. Despite an anticipated moderation in demand in the jewellery segment, the company is projected to achieve a revenue growth of 16% YoY for the fourth quarter of FY24.

India's private sector capex declines to 3-year low of 11.2% in FY24

Business Today

Business Today · 5m ago

India's private sector capex declines to 3-year low of 11.2% in FY24

India's private sector capital expenditure (capex) fell to a three-year low of 11.2% in FY24, potentially dropping below 11% of GDP in FY25, according to an India Ratings report. This marks a decline from the pre-COVID average capex of 11.8% between FY16 and FY20. The overall investment rate for FY25 is projected at 31.1%, driven by slowing investments in the services and industrial sectors, as well as a moderation in household investments.

Household savings in India drop to 18.1% of GDP in FY24: CareEdge Ratings

Economic Times

Economic Times · 1m ago

Household savings in India drop to 18.1% of GDP in FY24: CareEdge Ratings

India's household savings declined to 18.1% of GDP in FY24, marking a three-year downtrend, according to CareEdge Ratings. Despite this, rural India shows promise with 6.1% wage growth for rural male workers, surpassing inflation for four consecutive months, boosting rural demand recovery. Urban consumer confidence remains low, though expectations are positive. The Indian economy grew by 6.5% for FY24-25. Lower inflation and upcoming Rabi harvest are expected to support economic stability.

Economists split on interest rate cuts as inflation hits six-year low

Economic Times

Economic Times · 12d ago

Economists split on interest rate cuts as inflation hits six-year low

Economists are divided on whether the Reserve Bank of India should cut interest rates amid six-year low inflation. Some argue for a rate cut in the upcoming August policy, citing low inflation, while others suggest maintaining rates due to uncertain future trends and trade developments. The RBI’s decision will consider GDP projections and recent inflation data, with the central bank focusing on price stability. The repo rate has already been reduced by 100 basis points since February.

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