The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product […]
India’s real GDP growth in the 2019-20 fiscal is expected to be slightly below 5 per cent as the impact of stimulus measures will take time to filter through to the economy, IHS Markit has said. The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth […]
The Reserve Bank of India (RBI) on Thursday kept the interest rates unchanged, pausing after five straight cuts, but lowered the country’s economic growth forecast for the 2019-20 financial year to 5 percent from an earlier 6.1 percent. The RBI also raised its inflation forecast for the second half of the year to between 5.1-4.7 […]
After months of despair, India’s manufacturing sector activity inched up in November 2019, but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a […]
India Ratings and Research has revised its GDP growth forecast for FY20 to 5.6%. This is the fourth revision and has come in after the agency had revised its FY20 GDP growth forecast only a month ago to 6.1 per cent, the rating agency said in a statement. The revision, it said, became “inevitable as […]
India’s fiscal deficit touched nearly 93 per cent of the budget estimate at Rs 6.52 lakh crore during April-September period of the current financial year, according to latest government data. The fiscal deficit amounts to 92.6 per cent of the budgeted target for the current fiscal year. In absolute terms, the fiscal deficit, the gap […]
The Modi government seems determined to boost the country’s crude steel production capacity to 300 million tonnes by 2030-31 in a bid to make India a global steel manufacturing hub. At present, China is the world’s largest steel producer with a production capacity of 928.3 million tonnes of crude steel (2018), while India, with 106.5 […]
India’s economic growth slowed for a fifth straight quarter to 5 per cent in the three months ended June 2019. That’s slower than the 5.8 per cent expansion in the previous quarter, according to latest figures released by the Central Statistics Office. India’s GDP growth was 8 per cent in the year-earlier quarter and 5.8 […]
India’s economy will grow at a median rate of 6% during the first quarter of the current financial year ended June 30, according to a FICCI report. The country’s economy grew at 8.2% in April-June 2018-19. The growth numbers for the first quarter are expected to be released by the Central Statistics Office next week. […]
Credit rating agency CRISIL Research has sliced its estimate of India’s gross domestic product (GDP) growth by 20 basis points to 6.9 per cent for this fiscal, following a triangulation of downside risks: weak monsoon, slowing global growth, and sluggish high-frequency data for the first quarter. The slowdown would be pronounced in the first half, […]
