The National Institute of Public Finance and Policy's (NIPFP) mid-year macroeconomic review forecasts India's annual economic growth in the range of 6.9-7.1%, similar to most other forecasts, such as the International Monetary Fund's (7%), World Bank's (7%) and Reserve Bank of India's (7.2%). Thus, the economy is expected to grow by around 7% in 2024-25 on top of 7% and 8.2% in 2022-23 and 2023-24 respectively. India is back on the high growth path that prevailed before growth decelerated from 2017-18 onwards due to repeated shocks culminating in a sharp contraction in 2020-21 on account of the covid pandemic.
However, there has been some growth moderation in the first quarter of 2024-25 due to a large trade deficit and also contraction in government consumption on account of restrictions under the election code-of-conduct. On the supply side, there has been a contraction in mining and electricity and a slowdown in construction, capital goods, consumer durables, tourism, travel and financial services.
Headline inflation fell below the 4% target in August but has increased again in September due to high inflation of food prices. NIPFP's annual inflation forecast at 4.3% is marginally lower than the Reserve Bank of India (RBI) forecast of 4.5%. The upside risk factors include persistent high food price inflation and a rebound of core inflation.
هذه القصة مأخوذة من طبعة October 31, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 31, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
World Bank calls for reforming skills training in India
India must make a coordinated effort to reform and rebrand vocational skill training, besides aligning education with the job market, to leverage its demographic advantage to meet the $5-trillion target for its economy, the World Bank said.
FCPA cases take long to conclude after indictment
For investors keen to know the fate of billionaire Gautam Adani's indictment by US authorities, the watchword is patience.
Short-covering, relief rally add ₹7.27 trillion wealth
Markets up 2.39% to hit the highest in six months, a day after Adani's indictment
Wetter monsoon slows pace of adding new transmission lines
India's addition of new power transmission lines fell by half over a year earlier in the April-October period as a wetter-than-usual monsoon slowed work.
COP29's $1.3 tn fund plan disappoints Global South
The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South.
Jaguar rebrand is pink, diverse and doesn't feature any cars
Luxury automaker Jaguar is betting that a colorful and youthful rebrand will help it successfully launch fully into the electric-cars market.
Services up as manufacturing slows in Nov
The HSBC Flash India Services PMI was at 59.2 in Nov from 58.5 in Oct; manufacturing PMI fell slightly from 60.4 to 60.2
MSMED may protect medium firms too
The Centre may consider including medium enterprises for the protection granted under MSME Development (MSMED) Act, 2006, to resolve payment disputes.
Europe boosts Indian textile exports in FY25
Demand for Indian handloom, apparel partly fuelled by Bangladesh crisis
RBI nudges banks to cut speculative bet in rupee
The Indian central bank, in a rare move, instructed some banks to cut their long positions on the dollar-rupee pair on Friday, seeking to curb speculative positions with the currency at a record low, four bankers familiar with the development told Reuters.
