GDP expected to grow by 5.2-5.7 pc in FY15

Source: The Economic Times, Jul 29, 2014

NEW DELHI: With manufacturing sector showing signs of nascent recovery, economic think tank NCAER expects India’s GDP to expand at 5.2-5.7% this fiscal.

“GDP growth rate for 2014-15 is projected at 5.2-5.7%. The higher growth of 5.7% is conditional on pick up of investment spending,” National Council of Applied Economic Research (NCAER) said in a statement.

India recorded sub-five per cent in 2012-13 and 2013-14 due to general global slowdown and domestic factors, like high interest rate and stubborn inflation. The Economic Survey expects the country’s economy to expand by 5.4-5.9% this fiscal.

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India Likely to Grow at 6 Per Cent in 2014-15: Gita Gopinath

GDPSource: The New Indian Express, Jul 24, 2014

NEW DELHI: The Indian economy is likely to grow at six per cent in 2014-15 and if the new government delivers on its promise of good governance, reversion to a growth rate of around 7-8 per cent can occur in coming years, Harvard University professor Gita Gopinath said.

“Let’s just say that 6 per cent growth rate in FY15 would not be unreasonable… if the Modi government delivers on its promise of good governance, speedy implementation, improved infrastructure and manufacturing revival, 7-8 per cent growth is certainly within reach,” she said in an interview to as per the Economic Survey for 2013-14, India’s GDP growth rate will improve to 5.4-5.9 per cent in the current fiscal after remaining at sub-5 per cent level for past two years.

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Slow economic recovery looms

Slow economic recovery loomsThe Economic Survey tried to paint a realistic picture of the economy, pegging gross domestic product (GDP) growth at 5.4-5.9 per cent for 2014-15, after it had dropped to below five per cent in the previous two years. A day ahead of the Budget, it prescribed the government to go for fiscal consolidation and simplify tax policies to revive the investment climate.

The Survey, presented in Parliament by Finance Minister Arun Jaitley, wanted the government to rein in inflation and ease procedures for higher growth.

Even then, economic growth could tilt towards the lower end — 5.4 per cent — of the projected band this financial year and it might not be before 2016-17 that the economy would revert to seven to eight per cent annual growth, cautioned the Survey.

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India to grow at 5.3 per cent in current fiscal: Ficci

India to grow at 5.3 per cent in current fiscal: FicciSource: The Economic Times, Jul 08, 2014

NEW DELHI: Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India’s economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.

This is mainly due to bleak prospects for performance of the agriculture sector due to sub-par monsoon forecast.

“FICCI’s latest Economic Outlook Survey puts across the GDP growth estimate for the year 2014-15 at 5.3 per cent, with a minimum and a maximum range of 4.9 per cent and 5.8 per cent,” a statement said.

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India Inc sees GDP growth of 5-6% in FY15

Source: The Economic Times, Jun 19, 2014

MUMBAI: As many as 81 per cent of Indian corporates believe the country’s economy is likely to grow 5-6 per cent in the current financial year, says a survey.

“India Inc expects the economy to grow between 5-6 per cent and rupee around 77 per cent to appreciate against the dollar,” according to a survey by ING Vysya Bank.

Around 67 per cent respondents see the rupee to be at or below 60 for FY’15.

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Stage set for high GDP growth

Source: Business Standard, May 27, 2014

Now that equity markets have run their course, it’s time to see fundamental justification for the rally. A strong government at the centre without any coalition pressures will have no excuses for non-performance if they fail to deliver.

Analysts and economists have been bullish on the new government not only on expectations of a push to the reform process but also because of improving global scenario. A report by Indranil Sen Gupta and Abhishek Gupta of Bank of America Merrill Lynch (BoAML) says that India is likely to overtake Brazil and Russia to become the second largest BRIC nation by 2017.

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With Narendra Modi in charge, economy may grow at 7% in FY16: Economists

Narendra Modi Source: The Economic Times, May 19, 2014

NEW DELHI: The mandate for a stable BJP-led government at the Centre has led economists to bet on an economic growth of 6.5-7% in 2015-16 even as they await policy initiatives by the incoming government to take a call on revising their estimates for the current fiscal.

Although foreign investors have pumped in more than Rs 1 lakh crore in the Indian stock market since Narendra Modi’s anointment as the BJP’s prime ministerial candidate in September last year, economists are not in a hurry to revise their Gross Domestic Product (GDP) forecast for 2014-15.

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Indian economy to gain momentum, may grow 4.9% this year: OECD

indian-economy-to-gain-momentum-may-grow-4-9-this-year-oecdSource: Business Standard, May 06, 2014

London: India’s economic growth is poised to inch up 4.9% in 2014 and is expected to gain momentum with a decline in “political uncertainty” after the general elections, although rising bad loans would weigh on recovery, Paris-based think-tank OECD said today.

The estimate by the Organisation for Economic Cooperation and Development (OECD) for 2014 is higher than 4.5% growth projected for 2013.

India’s GDP is expected to pick up further momentum and grow 5.9% in 2015, according to OECD’s latest economic outlook report.

The Indian economy has slowed and growth plummeted to a decade-low of 4.5% in 2012-13.

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India Ratings pegs FY15 growth at 5.6%

Source: Business Standard, Apr 29, 2014

New Delhi: Fitch group entity India Ratings on Monday kept its growth forecast for 2014-15 unchanged at 5.6 per cent, despite the India Meteorological Department (IMD) predicting a sub-normal monsoon this year. The official estimate for growth in 2013-14 is 4.9 per cent, against a decade-low of 4.5 per cent in 2012-13.

In a report, the rating agency said though the worst appeared to be over, it was unlikely the Indian economy would shift to a high-growth phase of about nine per cent through the next two-three years. “The agency believes the economy, at this point of time, is delicately balanced and requires a serious policy push to return to the high-growth path,” the report said.

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India likely to see weak economic growth, says OECD

Source: The Economic Times, Apr 08, 2014

LONDON: India and many major emerging economies are expected to see weak growth even as prospects have stabilised in most of the advanced countries, says a report by Paris-based think-tank OECD.
Besides India, Brazil and Russia are likely to witness economic growth weakening whereas the prospects look better for China. The conclusions of OECD are based on Composite Leading Indicators (CLIs).

“CLIs, designed to anticipate turning points in economic activity relative to trend, point to weakening growth in major emerging economies, with the exception of China, where the CLI points to growth remaining around trend. CLIs point to growth below trend in Brazil and India, and to growth losing momentum in Russia,” OECD said today.

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