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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 · 29d 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 · 11m 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.

Growth to get lift, boost for demand after GST rationalisation, say economists

Economic Times

Economic Times · 13d ago

Growth to get lift, boost for demand after GST rationalisation, say economists

Economists welcome GST reforms in India, anticipating a boost in domestic demand, especially for essentials, benefiting lower and middle-income classes. Proposed changes include reducing GST slabs from four to two, retaining 5% and 18% rates. The reforms aim to support micro, small, and medium enterprises (MSMEs), potentially increasing consumer spending, notably in consumer durables like refrigerators, air conditioners, and vehicles, and aiding gross domestic product (GDP) growth amid global economic uncertainties and trade tariffs.

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

Money Control

Money Control · 12m 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.

US tariffs may shave 30-80 bps off India’s GDP growth this fiscal

Economic Times

Economic Times · 3d ago

US tariffs may shave 30-80 bps off India’s GDP growth this fiscal

India's economic growth might decrease by 30-80 basis points this fiscal year due to new 50% US tariffs on Indian goods, affecting exports. Despite potential setbacks, strong domestic demand may mitigate the impact. The tariffs could weaken India’s market competitiveness, necessitating policy support. Economists project a slower GDP growth rate and possible rupee depreciation, suggesting the need for fiscal measures and possible central bank intervention to counteract economic challenges.

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 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.

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.

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