CAD widens to 1.9% of GDP in Q4FY18

download (1).jpgSource: The Economic Times, Jun 13, 2018

Higher software exports and remittances have failed to salvage the current account deficit which rose to 1.4% of GDP pushing the import bill from 0.4% of GDP a year ago on account of rising crude and commodity prices.

Current account deficit (CAD), the excess of a country’s imports over exports rose to $ 13.0 billion or 1.9 per cent of GDP in Q4 of 2017-18 , up from $ 2.6 billion or 0.4 per cent of GDP in Q4 of 2016 -17, but moderated marginally from $ 13.7 billion or2.1 per cent of GDP in the Q3 of 2017-18, according to the preliminary numbers released by the Reserve Bank of India.

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World Bank forecasts 7.3 per cent growth for India in FY2018-2019

download (4).jpgSource: Business Standard, Jun 07, 2018

Washington: The World Bank has forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for the next two years, making it the fastest growing country among major emerging economies.

A top World Bank official said India’s economy is robust, resilient and has potential to deliver sustained growth.Growth in India is projected to advance 7.3 per cent in Fiscal Year (FY) 2018/19 (April 1, 2018-March 31, 2019) and 7.5 per cent in FY 2019/20, reflecting robust private consumption and strengthening investment, the bank said in its June 2018 edition of the Global Economic Prospect report.

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Q4 GDP growth seen at 7.1%: Ficci survey

Source: The Economic Times, May 29, 2018

India’s GDP growth is expected at 7.1 per cent for the January-March quarter of the last fiscal and 6.6 per cent for the entire 2017-18, industry body Ficci said today.

The Central Statistics Office (CSO) is scheduled to release GDP numbers for the fourth quarter as well as the 2017-18 fiscal on May 31.

The GDP growth in the third quarter (October-December 2017-18) is seen at 7.2 per cent, and for the entire last fiscal (2017-18), it is projected at 6.6 per cent at constant prices, as per CSO data. Read the rest of this entry »

India fastest growing economy at 7.4 per cent in 2018: IMF

Source: The Economic Times, May 09, 2018

United Nations, The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that rises to 7.8 per cent in 2019 with medium-term prospects remaining positive.

The IMF’s Asia and Pacific Regional Economic Outlook report said that India was recovering from the effects of demonetisation and the introduction of the Goods and Services Tax and “the recovery is expected to be underpinned by a rebound from transitory shocks as well as robust private consumption.”

Medium-term consumer price index inflation “is forecast to remain within but closer to the upper bound of the Reserve Bank of India’s inflation-targeting banda of four per cent with a plus or minus two per cent change, the report said.

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Indian economy to grow 7.2% in FY ’18-19: Deloitte

Source: The Hindu Business Line, Apr 26, 2018

New Delhi: With the disruptive impact of demonetisation and GST having largely waned, the Indian economy is expected to grow 7.2 per cent in fiscal 2018-19 on the back of an uptick in investment activity, a new Deloitte report said. The new report — India Economic Outlook Report 2018 — has highlighted that the Indian economy has once again regained the tag of the “fastest growing economy”.

The economy crossing the 8 per cent rubicon now largely depends on how effectively the various policies, especially those related to structural and infrastructure reforms are implemented, concluded the report released here on Thursday. “The main message from our report is that the disruptive impact of demonetisation and GST seems to be over and we can expect much higher GDP growth this fiscal than 2017-18,” Richa Gupta, Senior Economist and Senior Director, Deloitte India told BusinessLine. Deloitte has not put out a growth forecast for 2019-20 in its latest report.

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IMF maintains India’s FY19 growth at 7.4%; cautions govt on fiscal deficit

Source: Business Standard, Apr 18, 2018

New Delhi: The International Monetary Fund (IMF) has maintained its forecast for India’s economic growth at 7.4% in 2018-19, which will again make the country the fastest-growing large economy after losing this tag to China by a close margin in 2017-18. For 2019-20, the IMF has projected India to grow at 7.8%. By comparison, the Chinese economy is expected to slow down to 6.4% in 2019, down from 6.6% in 2018.

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India is likely to have grown 6.7% in 2017-18, the IMF said. In fact, the IMF projection for 2017-18 is a tad higher than 6.6%, pegged by the second Advance Estimates by the Central Statistics Office. China grew 6.9% in 2017.

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India to grow 7.3% this fiscal, 7.6% in next: ADB

Source: The Hindu Business Line, Apr 11, 2018

New Delhi: India’s economic growth is expected to rebound to 7.3 per cent this fiscal and further to 7.6 per cent in 2019-20 with increased productivity post GST and investment revival due to banking reform, the Asian Development Bank (ADB) said today.

The economy grew 6.6 per cent in the last fiscal as it battled the lingering effects of demonetisation in 2016, businesses adjusting to Goods and Services Tax (GST) in 2017, and a subdued agriculture. The ADB’s growth projection of 7.3 per cent this fiscal is in line with that of rating agency Fitch, but a tad lower than RBI’s forecast of 7.4 per cent.

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