India grows by 8.4% in Oct-Dec quarter defying expectations
Mar 01, 2024, at 01:15 am
New Delhi: India's economy surged by 8.4% in the quarter ending in December, surpassing expectations, driven by strong expansion in manufacturing and construction sectors.
Q3FY24 GDP to drop to 6.7-6.9% due to poor agri performance
Feb 29, 2024, at 04:36 am
Mumbai: The Indian economy is expected to grow by 6.7-6.9 percent in the December quarter of FY24, down from the 7.6 percent growth recorded in the second quarter, according to a report by SBI Research released on Wednesday.
Outlook for the Indian economy appears bright, says Finance Ministry report
Feb 21, 2024, at 06:00 am
New Delhi: Prospects of healthy Rabi harvest, sustained manufacturing profitability and underlying service resilience are expected to support economic activity in the financial year 2024-25, said a Finance Ministry report released on Tuesday.
RBI Bulletin says India's H1FY24 growth momentum to persist in H2
Feb 21, 2024, at 05:50 am
Mumbai: The Reserve Bank of India's (RBI) monthly bulletin indicates that the growth momentum of the Indian economy observed in the first half of the current financial year is expected to continue into the second half.
Ahead of Budget, IMF raises India's GDP growth forecast to 6.5%
Jan 31, 2024, at 04:16 am
New Delhi: The International Monetary Fund (IMF) has increased its GDP growth prediction for India in the 2024-25 fiscal year by 20 basis points to 6.5 percent.
Govt projects FY24 GDP growth at 7.3%
Jan 06, 2024, at 07:42 am
New Delhi: India's gross domestic product (GDP) is projected to grow by 7.3 percent in 2023-24, surpassing the 7.2 percent recorded in the previous fiscal year, the Ministry of Statistics and Programme Implementation said Friday.
On IMF's warning on debt, Centre says India's borrowings still below 2002 level
Dec 23, 2023, at 07:04 am
New Delhi: In response to the International Monetary Fund's (IMF) warning about alleged government debt vulnerabilities in India, the Central government stated on Friday that certain assumptions have been made which do not accurately represent the actual situation.
RBI's statistical model predicts India's FY25 GDP growth at 6%
Dec 21, 2023, at 04:35 am
Mumbai: The Reserve Bank of India's statistical model predicts India's GDP growth for the next year (FY25) at 6.0%, which is 50 basis points lower than the central bank's official forecast of 6.5%.
RBI increases GDP growth forecast for FY24 to 7% amid geopolitical turmoil
Dec 09, 2023, at 07:12 am
Mumbai: The GDP growth projection for 2023-24 has been increased to 7%, from the previous estimate of 6.5%, Reserve Bank of India (RBI) Governor Shaktikanta Das said During the Monetary Policy Committee meeting announcements on Friday.
India to grow at 6.3% in FY24, likely to slowdown to 6.1% in FY25: OECD
Nov 30, 2023, at 05:26 am
New Delhi: The Organization for Economic Cooperation and Development (OECD) Wednesday maintained its forecast for India's growth at 6.3 percent for the fiscal year 2024.
India set to become third-largest economy by 2030 with GDP of over $7 trillion: S&P Global
Oct 26, 2023, at 07:06 am
New Delhi: India, presently the world's fifth-largest economy, is poised to surpass Japan and secure the position of the third-largest global economy with a Gross Domestic Product (GDP) of $7.3 trillion by 2030, S&P Global Market Intelligence has projected in its latest Purchasing Manager’s Index (PMI) report.
India must aim for 8% growth rate to surpass China: Barclays
Oct 11, 2023, at 05:45 am
New Delhi: For India to surpass China and emerge as the leading contributor to global growth, it would have to aim for an 8 percent growth rate, a Barclays report said.
World Bank pegs India's FY24 GDP growth at 6.3%
Oct 03, 2023, at 07:30 pm
New Delhi/UNI: The World Bank has projected India’s GDP growth for the current financial year 2023-24 at 6.3% even as global headwinds continue to persist and intensify further due to high interest rates, geopolitical tensions and sluggish global demand.
India's GDP grows at 7.8 pct in Q1
Sep 02, 2023, at 12:03 am
Helped by continued growth momentum, especially in the services and construction sectors, India's gross domestic product (GDP) accelerated to 7.8% in the April-June quarter (Q1) of the current financial year 2023–24.
Indian economy off to a good start in Sept qtr: CEA Nageswaran
Sep 01, 2023, at 07:55 am
New Delhi: India’s Q1FY24 GDP growth of 7.8% is a "good number" and the government can comfortably maintain a growth target of 6.5% for FY24, according to India's chief economic advisor V. Anantha Nageswaran.
India's Q1FY24 GDP grows 7.8%, highest in last four qtrs
Sep 01, 2023, at 01:42 am
New Delhi: India’s GDP grew at the rate of 7.8% in the first quarter of the Financial Year 2023-24, according to the data released by the National Statistical Office (NSO) on Thursday.
ICRA projects India's Q1FY24 GDP growth at 8.5 pc, higher than RBI's estimate
Aug 22, 2023, at 11:19 pm
New Delhi: Rating agency ICRA has projected India's gross domestic product (GDP) growth in the April-June quarter (Q1) of FY24 at 8.5% driven primarily by front-loading of government capex, a continued catch-up in services demand and improved investment activity.
Despite headwinds, global economic activity remains resilient in Q1FY24: SBI report
Aug 22, 2023, at 11:10 pm
Mumbai: Global economic activity remained resilient in the Q1FY24, driven mainly by the services sector, according to State Bank of India’s Group Chief Economic Adviser Dr Soumya Kanti Ghosh.
Moody's affirms Baa3 rating for India; raises concerns over political challenges
Aug 19, 2023, at 04:52 am
New Delhi: Moody's Investors Service on Friday affirmed its Baa3 rating for India and upheld the stable outlook, media reports said.
Crisil projects Indian economy to grow at 6 pc in FY24
Aug 17, 2023, at 04:46 am
New Delhi: Noting that global slowdown and erratic monsoon could affect the direction of industrial growth in coming months, rating and research firm Crisil on Wednesday said that the Indian economy would grow at 6% in the current financial year.
Bank of Canada hikes key interest rate by 25 basis points to 5 percent, highest since 2021
Jul 18, 2023, at 02:57 am
Ottawa/IBNS: The Bank of Canada has made the cost of borrowing more expensive by reportedly raising its policy interest rate for the 10th consecutive time, by 25 basis points amounting to 5 percent, the highest it’s been since 2001.
FY23 GDP growth may be higher than 7.2 pc when final revision comes: CEA
Jun 10, 2023, at 08:08 am
Lucknow: Chief Economic Advisor (CEA) V Anantha Nageswaran on Friday said India will grow at 6.5-7% in financial year 2023-24 amid an encouraging environment for business investments and fast-paced digital transformation.
Record diesel and gasoline sales in May indicate strong demand
Jun 10, 2023, at 06:47 am
New Delhi: India's May diesel and gasoline sales reached record levels, providing a rare positive indication for the global oil markets, Bloomberg reported.
Morgan Stanley hails India for its growth in last 10 yrs
Jun 02, 2023, at 03:00 am
Highlighting the reforms that took place in India since 2014, US-based financial services company Morgan Stanley in its latest report said “this India is different from what it was in 2013”.
India's GDP moves up by 6.1 pc in Q4
Jun 01, 2023, at 12:11 am
New Delhi: India's gross domestic product (GDP) grew 6.1% year-on-year in January-March quarter (Q4) of financial year 2022-23, as per data released by Ministry of Statistics & Programme Implementation (MoSPI) on Wednesday.
Apr 29, 2023, at 02:26 am
Washington/New Delhi: India is expected to be the world's fastest-growing economy, despite facing significant challenges like financial sector turbulence, inflationary pressures, the impact of the Russia-Ukraine conflict, and the continued effects of the Covid-19 pandemic in the last three years, according to the International Monetary Fund's World Economic Outlook report.
IMF cuts India's FY24 growth rate to 5.9 pc
Apr 12, 2023, at 06:25 am
The International Monetary Fund (IMF) has reduced its GDP growth estimate for India for the financial year 2023-24 by 20 basis points to 5.9 percent.
Moody's improves India's 2023 growth projection to 5.5% on higher capex allocation in Budget
Mar 02, 2023, at 05:20 pm
New Delhi/IBNS: Moody's Investors Service, on Wednesday, increased its prediction for India's economic growth in 2023 from 4.8% to 5.5%.
India’s GDP growth decelerates to 4.4 pc in Q3FY23, services sector continues robust revival
Mar 01, 2023, at 02:54 am
New Delhi: India's real gross domestic product (GDP) for the October-December quarter (Q3) of the current fiscal year decreased to 4.4%, compared to 6.3% in the previous quarter, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) showed on Tuesday.
Nominal GDP to grow at 15.4 pct in FY 2022-23
Feb 01, 2023, at 07:59 pm
New Delhi: According to the Fiscal Policy statements the Nominal GGP is projected to grow at 15.4 % year-on-year (Y-o-Y) in FY2022-23 as against 19.5% in 2021-22.