GDP Growth – The News Desk

‘Slowing Dragons, Roaring Tigers’: Indian Economy Has Track Record Of Strong Growth: S&P

8Nov

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‘Slowing Dragons, Roaring Tigers’: Indian Economy Has Track Record Of Strong Growth: S&P

S&P Global Ratings said the Indian economy is reliant on strong growth performance in services industries.S&P Global Ratings said that while growth supports market confidence and revenue generation, rates dynamics will be an additional determinant of debt trajectoryS&P Global Ratings on Wednesday said India’s economy has a track record of strong growth and retained its 6 per cent growth forecast for current fiscal year. In Asia-Pacific Credit Outlook 2024 titled ‘Slowing Dragons, Roaring Tigers’, S&P said gradual capital deepening, favourable demographics, and improving productivity are essential growth factors.“India’s economy has a track record of strong growth. We expect this momentum to continue and forecast growth of 6 per cent for FY 2024, then 6.9 per cent for FY 20...

FinMin retains 6.5% GDP growth estimate for FY24, says ‘outlook bright’

Holding that economic activities in July-September (Q2) are shaping up well, the finance ministry has kept its estimate for the country’s real gross domestic product (GDP) growth in 2023-24 (FY24) unchanged at 6.5 per cent. However, it has cautioned that the monsoon deficit in August could affect both kharif and rabi crops and said rising crude oil prices needed to be watched. In its Monthly Economic Review, the finance ministry said the risks were offset by bright spots in corporate profitability, private-sector capital formation, bank credit growth, and activities in the construction sector. “India’s economic outlook for FY24 remains bright. Economic activity maintained its momentum. HFIs (high-frequency indicators) suggest that the second q...

ADB lowers FY24 GDP forecast to 6.3%, India Ratings raises it to 6.2%

The Asian Development Bank (ADB) on Wednesday revised India's growth forecast for FY24 to 6.3 per cent, a change of 10 basis points, attributing it to erratic monsoon patterns that are likely to affect agricultural output. Meanwhile, India Ratings and Research has increased its FY24 growth estimate for India to 6.2 per cent, up by 30 basis points, citing factors such as sustained government capital expenditure (capex), deleveraged corporate and banking balance sheets, and the likelihood of subdued global commodity prices. ADB's latest Asian Development Outlook highlighted that strong private consumption and upticks in both public and private investment are expected to support India's economic growth. The organisation has maintained its growth projection for FY25 at 6.7 ...