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India`s current account deficit to narrow to $53 bn in FY24: Acuite Ratings Credit rating agency Acuite Ratings & Research said it expects India's current account deficit to narrow to $53 billion in FY24. In a report, Acuite Ratings said India's current account deficit for FY24 is expected to narrow to $53 billion in FY24 bn (1.4 per cent of gross domestic product-GDP) -- compared to a level of about 2 per cent of GDP in FY23. India's merchandise trade balance started FY24 on a comforting note, with the deficit narrowing to a 20-month low of $15...
India`s current account deficit to narrow to $53 bn in FY24: Acuite Ratings
India`s current account deficit to narrow to $53 bn in FY24: Acuite Ratings
Source: Reuters
17/05/2023 3:08:18 PM
Indian economy demonstrates strength & stability, GDP to grow at 6% in FY24: Acuite Ratings & Research Limited  India's gross domestic product (GDP) growth will be at 6 per cent in FY24, said credit rating agency Acuite Ratings and Research. In its monthly commentary on the economy. Acuite said that despite the global macro economy remaining characterised by contradictions and financial system instability risks coming to the fore, the Indian economy continues to demonstrate strength and stability. Most lead indicators at the start of 2023 continue to display resilience, with incremental...
Indian economy demonstrates strength & stability, GDP to grow at 6% in FY24: Acuite Ratings & Research Limited
Indian economy demonstrates strength & stability, GDP to grow at 6% in FY24: Acuite Ratings & Research Limited
Source: IANS
26/04/2023 4:08:47 PM
Stumped by Reserve Bank of India's decision on repo rate, experts react The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) certainly bowled a googly at the experts who had predicted a 25 basis points repo rate hike. Interestingly, RBI Governor Shaktikanta Das on Thursday announced that the MPC has decided to hold the repo rate at 6.5 per cent. Consequently, the standing deposit facility (SDF) rate will remain unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The MPC also decide...
Stumped by Reserve Bank of India's decision on repo rate, experts react
Stumped by Reserve Bank of India's decision on repo rate, experts react
Source: IANS
6/04/2023 2:53:25 PM
Acuite Ratings revises downward India`s BoP for FY23 to $17bn Credit rating agency Acuite Ratings & Research on Monday said it has revised its forecast of India's current account deficit to $68 billion from $106 billion and the balance of payments deficit to $17 billion from $38 billion earlier. In a research report, Acuite Ratings said India's current account deficit narrowed significantly to $18.2 billion (2.2 per cent of gross domestic product-GDP) in Q3 FY23 from $30.9 billion in Q2 FY23 (3.7 per cent of GDP). The surplus in the ca...
Acuite Ratings revises downward India`s BoP for FY23 to $17bn
Acuite Ratings revises downward India`s BoP for FY23 to $17bn
Source: IANS
3/04/2023 1:39:39 PM
India's GDP growth at 7% in FY23: Acuite Ratings Credit rating agency Acuite Ratings & Research on Monday reiterated its forecast of Indian gross domestic product (GDP) growth at 7 per cent for FY23. In a report, Acuite said it is maintaining India's GDP growth at 7 per cent for FY23 and 6 per cent for FY4. The credit rating agency said India's industrial activity rose to 5.2 per cent year-on-year (YoY) in January 23 from 4.7 per cent in December 22, marginally beating market consensus. Sequential momentum in the index ...
India's GDP growth at 7% in FY23: Acuite Ratings
India's GDP growth at 7% in FY23: Acuite Ratings
Source: IANS
13/03/2023 2:05:11 PM
Interest rates to be at higher levels in FY24 as long as inflation is up  The interest rates in India will continue to be at a higher level next fiscal as inflation continues to be sticky at a higher level, said experts and several reports. "The interest rates will remain at higher levels as it looks unlikely that the Reserve Bank of India (RBI) will cut rates. There is a possibility of another rate hike based on how inflation turns out in the coming month," Madan Sabnavis, Chief Economist, Bank of Baroda told IANS. Sabnavis also said with the...
Interest rates to be at higher levels in FY24 as long as inflation is up
Interest rates to be at higher levels in FY24 as long as inflation is up
Source: IANS
5/03/2023 10:34:58 AM
Moderation in India's trade deficit could be transitory : Acuite Ratings The moderation in India's trade deficit in January could be transitory in nature and factors like bottoming of the commodity prices, global inflation, suspension of container port in Turkey could give pressure on the trade deficit, said credit rating agency Acuite Ratings and Research. Acuite Ratings in a report maintaining the trade deficit at $106 billion or 3.1 per cent of gross domestic product (GDP) for FY23 added that there could be cushion in the form of: increased dependence on...
Moderation in India's trade deficit could be transitory : Acuite Ratings
Moderation in India's trade deficit could be transitory : Acuite Ratings
Source: IANS
20/02/2023 1:48:55 PM
India's current account deficit projected at $106bn: Acuite Ratings Credit rating agency Acuite Ratings and Research has revised downward Indias current account deficit to $106 billion in FY23. In a report released on Monday, Acuite Ratings said it is revising the forecast for the current account deficit to $106 billin from the earlier levels of $130 billion. The Balance of Payment (BoP) deficit is estimated at $38 billion down from $60 billion estimated earlier, Acuite Ratings said. According to the rating agency, the moderation in the monthly trade...
India's current account deficit projected at $106bn: Acuite Ratings
India's current account deficit projected at $106bn: Acuite Ratings
Source: IANS
2/01/2023 12:56:48 PM
RBI`s action and experts` reactions The Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) action to hike the repo rate by 35 basis points (bps) to 6.25 per cent has got the following reactions from experts: Deepak Agrawal, Chief Investment Officer, Debt Fund, Kotak Mahindra Asset Management Company The RBI hikes repo rate by 35 bps in line with market expectation with a 5:1 vote. The stance was maintained at "withdrawal of accommodation" with a 4:2 vote. The MPC was of the view that further...
RBI`s action and experts` reactions
RBI`s action and experts` reactions
Source: IANS
7/12/2022 12:50:02 PM
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite The expectation of the expansion of the current account deficit is not just driven by elevated global commodity prices, but is also linked to the unlocking of the economy reviving pent-up demand and improved vaccination cover aiding an organic recovery in the economy, ratings and research firm Acuite Ratings & Research said in a report. Nevertheless, there is considerable uncertainty in projecting trade and current account deficit due to high volatility in commodity prices, which in th...
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite
Source: IANS
6/06/2022 1:08:54 PM
Consumer inflation at 8-year high may 'trigger' quicker rate hikes Sounding a red alert on India's CPI inflation at an 8-year high print of 7.79% YoY in April, Acuite Ratings has said it may trigger quicker rate hikes. "If inflation pressures continue to mount there is a likelihood of additional hikes thereby taking the rate to its pre- pandemic level of 5.15 per cent or even higher in FY23. Additionally, we also expect CRR to be hiked by another 50 bps by H1FY23," Acuite Ratings said. Given the tone of urgency in RBI's statement to s...
Consumer inflation at 8-year high may 'trigger' quicker rate hikes
Consumer inflation at 8-year high may 'trigger' quicker rate hikes
Source: IANS
14/05/2022 9:17:59 AM
India's FY22 GDP growth expected at 9.5%, FY23 at 7.5%: Acuite Ratings India's FY22 GDP growth is expected at 9.5 per cent with downside risks, said Acuite Ratings & Research on Thursday. The ratings agency cited that adverse impact of elevated commodity prices and the potential financial market volatility on account of monetary policy normalisation as some of the downside risks. "Expectedly, Omicron has led to a fresh dent in domestic economic activities which was also reflected in our proprietary AMEP (Acuite Macroeconomic Performance) month...
India's FY22 GDP growth expected at 9.5%, FY23 at 7.5%: Acuite Ratings
India's FY22 GDP growth expected at 9.5%, FY23 at 7.5%: Acuite Ratings
Source: IANS
18/02/2022 9:16:56 AM
FY22 current account deficit faces mild upside risk: Acuite Ratings India's FY22 current account deficit faces mild upside risk from high commodity prices, said Acuite Ratings & Research. The wider merchandise trade deficits pulled India's Q2FY22 current account into the negative territory. The current account swung into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the preceding quarter. On Tuesday, official data showed that the country's merchandise trade deficit widened by 20.23 per c...
FY22 current account deficit faces mild upside risk: Acuite Ratings
FY22 current account deficit faces mild upside risk: Acuite Ratings
Source: IANS
17/02/2022 10:21:36 AM
'Benign ary trajectory to likely delay interest rate normalisation' The continued benign inflationary trajectory in Q3FY22 has increased the likelihood of further postponement of interest rate normalisation, said Acuite Ratings & Research on Saturday. The assessment comes after India's October retail inflation inched-up sequentially on the back of a marginal rise in food prices along with high fuel and commodity prices. Accordingly, data furnished by the National Statistical Office showed that Consumer Price Index (CPI) inched-up to 4.48 per cen...
'Benign ary trajectory to likely delay interest rate normalisation'
'Benign ary trajectory to likely delay interest rate normalisation'
Source: IANS
14/11/2021 9:34:55 AM
Acuite retains India's FY22 growth forecast at 10% on likely festive demand Ratings agency Acuite Ratings & Research has retained India's FY22 growth forecast at 10 per cent on the back of likely revival in consumption demand during the festive season. The agency cited steady progress in vaccination and expected improvement in consumption driven pent-up demand among the key reasons for retaining the 10 per cent growth mark. However, the 'Acuite Macroeconomic Performance Index' highlighted that the 'V-shaped' recovery witnessed after the ...
Acuite retains India's FY22 growth forecast at 10% on likely festive demand
Acuite retains India's FY22 growth forecast at 10% on likely festive demand
Source: IANS
22/10/2021 9:22:49 AM
FY22 YoY current account deficit expected to widen: Report India's FY22 YoY current account deficit is expected to widen. Acuite Ratings & Research said. The ratings agency estimates approximately $30 billion deficit vis-a-vis $26 billion estimate in FY21. "The anticipated surplus on the current account in Q1 FY22 is unlikely to sustain amidst the elevated level of commodity prices. More so, the gradual tapering of lockdown stringency at state level will continue to support revival in economic activity, which would further get a bo...
FY22 YoY current account deficit expected to widen: Report
FY22 YoY current account deficit expected to widen: Report
Source: IANS
19/07/2021 5:41:17 PM
Rating Agencies come together to represent Indian Rating Industry Rating agencies in the country have come together to form an association to push the agenda of enhancing rating standards and help build trust with investors and issuers. Accordingly, Acuite Ratings & Research Limited and CARE Ratings Limited have founded the "Association of Indian Rating Agencies or AIRA" that has been which incorporated as a section 8 (not-for-profit) company. AIRA is also expected to work closely with the regulator and government for the development of deb...
Rating Agencies come together to represent Indian Rating Industry
Rating Agencies come together to represent Indian Rating Industry
Source: IANS
15/06/2021 2:43:03 PM
MFI delinquencies to increase by June: Acuite Ratings Delinquencies of microfinance institutions (MFI) are likely to increase by June amid the severe Covid crisis, according to Acuite Ratings & Research. "Acuite expects 30 day delinquencies to increase at least by 30 per cent by June 2021 even if the pandemic intensity starts to taper down from the middle of May and may more than double if there is no taper down of the pandemic intensity and the local lockdowns continue till end of Q1FY22," said a report. It noted that the im...
MFI delinquencies to increase by June: Acuite Ratings
MFI delinquencies to increase by June: Acuite Ratings
Source: IANS
10/05/2021 2:27:20 PM