India records impressive growth in recent years: IMF

Source: Financial Express, Apr 20, 2017

Wahington: India’s growth has been “impressive” in the recent years which makes room for tax broadening efforts by the government, according to a top IMF official. “India has recorded quite an impressive growth performance in recent years. Our view is that the elimination of fuel subsidies and the targeting of social benefits has delivered in terms of allowing the union budget target to be achieved at 3.5 per cent of GDP,” Vitor Gasper, Director of the IMF Fiscal Affairs Department told reporters at a news conference here yesterday.

“We have been collaborating with the Indian authorities in terms of looking at fiscal structural measures, including expenditure rationalisation while protecting infrastructure investment, tax broadening efforts,” he said. Read the rest of this entry »

Economy to grow 7.2% in FY18

Source: Business Standard, Apr 18, 2017

New Delhi: Having seen a “modest setback” due to demonetisation last fiscal, the Indian economy will claw back to 7.2 per cent growth this financial year and rise further to 7.5 per cent in 2018-19, says a World Bank report.

In its report on South Asian Economy, the World Bank said that “significant risks” to economic growth could emanate from the fallout of demonetisation on small and informal economy, stress in the financial sector and uncertainty in global environment. Read the rest of this entry »

India’s growth to accelerate to 7.4% in 2017-18

Source: Business Standard, Apr 06, 2017

New Delhi: The Asian Development Bank (ADB) said that India’s growth rate will improve to 7.4 per cent during 2017-18 and go up further to 7.6 per cent in the next financial year, remaining ahead of China.

“The impact of the demonetisation of high-value banknotes is dissipating as the replacement banknotes enter circulation. Stronger consumption and fiscal reforms are also expected to improve business confidence and investment prospects in the country,” said the Asian Development Outlook, ADB’s flagship economic publication.

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India to grow at 7.7% in 2018 in face of newer global challenges: Jaitley

Source: HT Business, Apr 03, 2017

New Delhi: India’s economic growth is expected to pick up in the coming years following a raft of reforms such as demonetisation and the rollout of the Goods and Services Tax, although developing countries face global challenges of trade restrictions, finance minister Arun Jaitley said on Saturday.

Addressing the second annual meeting ofdownload the New Development Bank (NDB) in Delhi, Jaitley said a possible shift towards inward-looking policies and protectionism and a sharper than expected tightening in global financial conditions, the crisis in Europe and increased geopolitical tensions, posed a challenge to the emerging economies.

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FY17 GDP to grow at 6.9%, will recover to 7.2% in FY18: BofAML

Source: Times of India, Mar 01, 2017

India is expected to clock a GDP growth of 6.9 per cent this fiscal, which is likely to recover to 7.2 per cent in 2017-18, says a Bank of America Merrill Lynch (BofAML) report.

“Looking ahead, we expect growth to end 2016-17 at 6.9 per cent and recover to 7.2 per cent in 2017-18, partly on base effects of the ongoing demonetisation shock,” BofAML said in a research note, adding that this rate of growth is still higher than other BRICs. Read the rest of this entry »

GDP growth to slow to 5.7% in January-March 2017: Nomura

index.jpgSource: The Economic Times, Feb 13, 2017

NEW DELHI: India’s economic growth is likely to remain muted in the first quarter of this calender year with the GDP likely to grow at 5.7 per cent in the January-March period amid subdued activity, says a report.

According to the global financial services major Nomura, following subdued growth in the first quarter, a V-shaped recovery is on the cards due to remonetisation, wealth redistribution and the lagged effects of lower lending rates.”We expect growth to remain subdued in the first quarter of 2017 as the activity level remains below its recent peak,” Sonal Varma chief India economist at Nomura said in a research note.

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India’s GDP growth likely at 7.1 per cent in 2017-18

Source: Financial Express, Feb 02, 2017

New Delhi: India is expected to clock a GDP growth of 7.1 per cent in 2017-18 as the country gets sufficiently remonetised and the schemes in the Budget play a supportive role, says an HSBC report.The uptick in the growth numbers would be largely driven by the remonetisation process which is expected by April end as this in turn would boost the consumption levels in the country.

“We expect GDP to grow at 7.1 per cent year-on-year in 2017-18, up from 6.3 per cent in 2016-17, as the country gets sufficiently remonetised (by April-end), and consumption moves back to pre-demonetisation levels,” HSBC India Chief Economist Pranjul Bhandari said. Growth numbers will be largely consumption driven as investment is expected to be a drag.

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