AHEAD of the official release of June quarter growth numbers next week, economists have offered differing forecasts, with rating agency Icra pegging the lowest at 6% and German brokerage Duestche Bank at the highest at 7% and Goldman Sachs seeing growth moderating to 6.6% on account of lower government capex and tepid consumption demand.
Thus far, the RBI's forecast of 7.1% is the highest but that is 20 bps lower than its June estimate. Icra cheif economist Aditi Nayar forecasting for the six quarter low growth of 6% attributed the same to the reduction in government capex and a fall in urban consumer demand. For the full fiscal year 2025, she expects the economy clipping at 6.8%, down from 8.2% in the previous fiscal. Official growth data for the June quarter will be released by the Ministry of Statistics and Programme Implementation on August 30. In the first quarter, the economy grew at 8.2%.
Contributing factors
This story is from the August 25, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 25, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
FY LUSION IESTA
Set ina warm, welcoming atmosphere, Chef Sanjeev Kapoor’s latest restaurant presents a fusion of traditional Indian flavours and contemporary culinary innovation, all while remaining true to its neighbourhood roots
Filming Truth on Trial
Nan atmosphere of surveillance and censorship, much remains unspoken. Documentary films, in particular, inhabit a liminal space between the present and the truth, possessing the unique power to unveil unmediated realities with striking force.
South Asian Jr Athletics C'ship: Gold harvest for Indian team
THE Indian contingent exceeded all expectations and were in brilliant form on Thursday as they reaped a harvest of as many as 19 medals, nine of them being gold on the second day of the fourth edition of South Asian Junior Athletics Championship held at Jawaharlal Nehru Stadium, Chennai.
IPL PLAYERS HIGHLY UNDERPAID
The league’s media rights may have skyrocketed since its inception but salary cap hasn’t grown proportionately. Swaroop Swaminathan captures the story through numbers
Pvt sector must step up infra investment: DFS secy
India needs to spend 8-10% of gross domestic product on infrastructure for sustaining high single-digit growth rate over next couple of decades, said a senior finance ministry official.
PM e-drive: Electric 2W buyers can get subsidy of ₹10K in 1st yr, ₹5K in 2nd yr
UNDER the ‘PM Electric Drive Revolution in innovative Vehicle Enhancement (PM e-drive) scheme, which will be rolled out soon, electric two-wheeler buyers can avail a maximum subsidy of up to ₹10,000 in the first year and ₹5,000 in the second year.
Fuel prices may fall if crude remains low: Official
Oil marketing companies (oMCs) may consider reducing petrol and diesel prices domestically if international crude prices remain low for an extended period, according to a senior official from the Petroleum Ministry.
Mkt rally makes investors richer by ₹6.5L cr
Optimism is fuelled by US inflation in August falling to three-year low of 2.5% which sparked rate cut hopes
Myanmar residents flee deadly floods on makeshift rafts, boats
CARRYING children on their backs or rowing the elderly on makeshift rafts through rising waters on Thursday, thousands of Myanmar residents fled severe flooding triggered by the deadly Typhoon Yagi.
Marvelling Singapore's skyscrapers, Pope bats for fair wages for migrants
POPE Francis on Thursday praised Singapore’s economic strength as a testament to human ingenuity but urged the city-state to look after the weakest, too, especially foreign workers, as he opened the final leg of his tour through some of Asia’s poorest countries in one of the world’s richest.