India to grow at 7.2% in FY17, up from 6.8% in 2016: World Bank

indexSource: Business Standard, July 18, 2017

New Delhi: Indian economy is expected to grow at 7.2 per cent this financial year, up from 6.8 per cent in 2016, says a World Bank report. According to the report, though the anxiety about the festering twin-balance sheet problem persists, the economy may grow at an even higher 7.5 per cent the year after.

The World Bank has, however, revised its forecasts for growth downwards from what was projected in its January update.

On the other hand, China’s economic growth is projected to slow at 6.5 per cent in 2017, down from 6.7 per cent the year before. But given the strong second quarter growth, China’s GDP grew at 6.9 per cent belying expectations, overall growth for the year may well end up being higher.

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Consumption to propel India’s GDP growth: Nomura

Source: The Economic Times, June 28, 2017

NEW DELHI: India’s GDP growth witnessed a trough in January-March quarter, but going forward the economy is expected to see gradual improvement in growth numbers primarily driven by consumption, says a Nomura report.

According to the Japanese financial services major, consumption has recovered from the demonetisation “shock” and while external demand has moderated slightly, it remains supportive of growth.

Moreover, there are signs of a pick-up in central government investment.

“We believe, GDP growth reached a nadir in March quarter (at 6.1 per cent) and will gradually improve to a still-modest 6.6 per cent in the second quarter,” Nomura said in a research note adding that growth is expected to be mainly consumption- led.

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NCAER ups India’s GDP growth to 7.6% for FY18

download (4).jpgSource: Business Standard, June 21, 2017

New Delhi: The National Council of Applied Economic Research (NCAER) has revised up its projections for the country’s economic growth to 7.6 per cent for the current financial year, compared with the earlier forecast of 7.3 per cent.

Similarly, growth in the country’s gross value added was scaled up from 7 per cent to 7.3 per cent for the year.

Surprisingly, the think tank projected the wholesale price index-based (WPI) inflation to be 6.7 per cent for 2017-18. The WPI-based inflation stood at 3.85 per cent in April which further declined to 2.17 per cent in May.

India’s economy grew 7.1 per cent in 2016-17, lower than 7.6 per cent against 8 per cent a year ago.NCAER’s projections are shade higher than Economic Survey which projected the GDP growth in the range of 6.75 per cent to 7.5 per cent for the current financial year. However, the World Bank has forecast growth to be just 7.2 per cent for the year.

Private investment to lead India GDP growth in 2018-19, says World Bank

Source : Livemint 2 June 2017

New Delhi: Although private investment growth in India will remain challenging in the short term, it will eventually pick up in 2018-19 to overtake private consumption as the main driver of economic growth, the World Bank said in its latest ‘India Economic Update’ released on Monday.

Gross fixed capital formation (GFCF), which indicates investment demand in the economy, is forecast to grow by 3.3% in FY17, jump to 6.8% in FY18 and overtake private consumption (7.4%) in FY19 with 8.8% growth to become the major growth driver.

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India to grow at 7.2% in 2017-18: World Bank

Source : Economic Times 30 May 2017

NEW DELHI: Giving thumbs up to the demonetisation of high value currency notes last year and the upcoming roll out of the goods and services tax (GST), the World Bank has said the two reforms will increase the formalisation of the Indian economy. In its latest India Development Update released on Monday, the World Bank said India’s economy will grow 7.2% in fiscal year 2017-18.

“In the long-term, demonetisation has the potential to accelerate the formalization of the economy… the implementation of the GST is a key complementary reform that will support formalization, as firms have a strong incentive to register with GST to obtain input tax credits,” the World Bank said in the biannual report themed ‘Unlocking Women’s Potential’.

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India can achieve 10% GDP growth by FY20, says CII

download (8).jpgSource : Busines Standard 5 May 2017

India can achieve a gross domestic product (GDP) growth of 10 per cent by financial year (FY) 2019-20 on the back of tremendous opportunities available in the economy, the Confederation of Indian Industry (CII) said on Thursday.

“We strongly believe India can build up to a 10 per cent GDP growth in the next three years. For the current year, CII analysis shows the GDP growth rate can be eight per cent,” CII President Shobana Kamineni told reporters in New Delhi.

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GDP to grow 7.4% in FY18; GST, bankruptcy law big positives: ADB

download.jpgSource : Business Standard

The Indian economy will grow 7.4 per cent this fiscal and 7.6 per cent in the next as the bankruptcy and GST laws will help create a better business friendly environment, the Asian Development Bank (ADB) said on Wednesday.

Ahead of its 50th annual meeting to be attended by finance minister and central bank governors of member nations, the multilateral agency’s Chief Economist Yasuyuki Sawada said the reforms like the Goods and Services Tax (GST) and the new bankruptcy law will make it easier to do business in India. Read the rest of this entry »