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India inflation to stay above 6% target until October at least -economists India's inflation rate will remain above the Reserve Bank of India's upper tolerance band of 6% at least until October, according to a Reuters poll of economists who sharply upgraded their price-rise forecasts for this quarter. Consumer prices in Asia's third-largest economy rose at the fastest annual rate in the 15 months in July, to 7.44% from 4.87% in June, largely driven by a sharp increase in prices of essential foods commonly used in Indian kitchens. That sudden spike ...
India inflation to stay above 6% target until October at least -economists
India inflation to stay above 6% target until October at least -economists
Source: Reuters
29/08/2023 4:52:19 PM
India economic growth likely picked up pace in April-June India economic growth likely accelerated to 7.7% in the April-June quarter, the fastest annual pace in a year, on robust service sector growth, strong demand and increased government capital expenditure, a Reuters poll found. All but two of 51 economists surveyed between Aug. 18 and Aug. 24 expected gross domestic product (GDP) growth to beat the January-March quarter's 6.1% rate, with forecasts ranging from 5.6% to 9.1% range. "Economic activity in Q1 FY-2024 was boosted by a ...
India economic growth likely picked up pace in April-June
India economic growth likely picked up pace in April-June
Source: Reuters
25/08/2023 9:29:39 AM
April GST collections: Robust, reasonable: Experts Experts are voicing mixed views - robust, reasonable - on the Rs 1.87 trillion of goods and services tax (GST) collections made in April 2023 up from about Rs 1.60 trillion for March 2023. "The GST collections displayed a robust year-end uptick with a 12% expansion in April 2023, representing the transactions in March 2023," said Aditi Nayar, Chief Economist, Head - Research & Outreach, ICRA Ltd. "While collections have maintained a healthy 11-13 per cent growth in th...
April GST collections: Robust, reasonable: Experts
April GST collections: Robust, reasonable: Experts
Source: IANS
2/05/2023 12:23:15 PM
India`s November retail inflation below 6% for first time this year India's annual retail inflation eased below its central bank's upper tolerance level for the first time this year in November amid a softer rise in food prices, surprising economists, with some expecting a pause in rate hikes. Annual retail inflation rose 5.88% in November from 6.77% in the previous month, government data showed on Monday. Analysts in a Reuters poll had predicted a November reading of 6.40%. Food price inflation, which accounts for nearly 40% of the consumer pri...
India`s November retail inflation below 6% for first time this year
India`s November retail inflation below 6% for first time this year
Source: Reuters
13/12/2022 9:53:46 AM
GST collections in line with expectations, say economists GST collections for November 2022 showed a dip as they stood at Rs 1.46 lakh crore, down by 3.9 per cent compared to Rs 1.52 lakh crore collected in October 2022. However, compared to the collections of Rs 1.32 lakh crore in November 2021, they were higher by 11 per cent, government data revealed on Thursday. Despite the slide in GST collections in November, they have remained at more than Rs 1.40 lakh crore for nine months in a row now. Economists though see this in line with their exp...
GST collections in line with expectations, say economists
GST collections in line with expectations, say economists
Source: IANS
1/12/2022 8:00:39 PM
Instant View: India`s second-quarter GDP growth slows to 6.3% on higher prices India posted an economic growth of 6.3% in its July-September quarter, far slower than the 13.5% growth reported in the previous three months as distortions caused by COVID-19 lockdowns faded in Asia's third-largest economy. Government capital spending increased more than 40% during the quarter as the federal government stepped up expenditure on infrastructure from roads to railways, according to official data on Wednesday. The growth rate was above the 6.2% forecast by economists i...
Instant View: India`s second-quarter GDP growth slows to 6.3% on higher prices
Instant View: India`s second-quarter GDP growth slows to 6.3% on higher prices
Source: Reuters
1/12/2022 9:27:08 AM
India festival spending booms despite inflation worries, global slowdown  Indian consumers are lapping up everything from cars, houses and television sets to travel and jewellery in the festive season that began last month, according to early data, giving a fillip to growth prospects despite economic gloom elsewhere in the world.  Online and offline sales during the Hindu festival period starting in the last week of September and lasting until early November are estimated to cross $27 billion, almost double the amount in the same pre-COVID period in 2...
India festival spending booms despite inflation worries, global slowdown
India festival spending booms despite inflation worries, global slowdown
Source: Reuters
14/10/2022 10:20:59 AM
GDP growth, relative to pre-Covid levels, to double to 8.0% in Q2 FY2023: ICRA The gross domestic product (GDP) is expected to grow double to 8 per cent in Q2FY23, from 3.8 per cent in Q1FY23, according to the ICRA estimates. "We project the GDP expansion at 6.5-7.0 per cent for Q2 FY2023, a base-effect led moderation from 13.5 per cent in Q1 FY2023. Crucially, GDP growth is expected to rise to ~8.0 per cent in Q2 FY2023 from 3.8 per cent in Q1 FY2023, when compared to the pre-Covid levels of 2019, which is a more tangible signal of the ongoing, yet uneven recov...
GDP growth, relative to pre-Covid levels, to double to 8.0% in Q2 FY2023: ICRA
GDP growth, relative to pre-Covid levels, to double to 8.0% in Q2 FY2023: ICRA
Source: IANS
15/09/2022 2:53:56 PM
ICRA projects India’s GDP growth at 13% for Q1 FY23 ICRA in its latest report has projected India’s Gross Domestic Product (GDP) growth at 13.0% for first quarter (April-June) of current fiscal year (FY23) a sharp jump from the 4.1% in Q4 FY22. It has also projected the year-on-year (YoY) growth of the gross value added (GVA) at basic prices (at constant 2011-12 prices) in Q1 FY23 at 12.6%, a jump from 3.9% recorded in Q4 FY22. Aditi Nayar, Chief Economist, ICRA said ‘the anticipated double-digit GDP expansion in Q1 FY23 benefits f...
ICRA projects India’s GDP growth at 13% for Q1 FY23
ICRA projects India’s GDP growth at 13% for Q1 FY23
Source: Accord Fintech
24/08/2022 10:46:04 AM
GDP growth projected to spike to four-quarter high 13.0% in Q1 FY2023: ICRA GDP growth is expected to expand in double digits at 13 per cent in Q1FY23 due to low base and robust recovery in the contact-intensive sectors following the widening vaccination coverage, according to an ICRA report. The gross value added (GVA) at basic price in Q1FY23 is projected at 12.6 per cent from 3.9 per cent earlier. ICRA expects the sectoral growth in Q1 FY2023 to be driven by the services sector (+17-19 per cent; +5.5 per cent in Q4 FY2022), followed by the industry (+9-11 pe...
GDP growth projected to spike to four-quarter high 13.0% in Q1 FY2023: ICRA
GDP growth projected to spike to four-quarter high 13.0% in Q1 FY2023: ICRA
Source: IANS
23/08/2022 4:01:00 PM
Easing raw material costs promising for Indian consumer companies Softening commodity prices are holding out hope for Indian consumer-goods firms that have struggled with inflation, particularly in the large but price-sensitive rural market. While reporting a 4.5% fall in second-quarter profit and higher expenses, Nestle India said on July 28 it could see softening of prices in such commodities as edible oil and packaging materials. A week earlier, Unilever's India unit said a softening of commodities prices augured well. If the improvement persis...
Easing raw material costs promising for Indian consumer companies
Easing raw material costs promising for Indian consumer companies
Source: Reuters
3/08/2022 3:20:24 PM
India`s industrial production grew 19.6% in May  India's industrial production grew by 19.6 per cent in May 2022, the National Statistical Office said. According to the Index of Industrial Production (IIP) data released by the NSO, the industrial growth in May was 19.6 per cent, higher than the growth logged the previous month. ICRA's Chief Economist Aditi Nayar said: "The sharp sequential increase in the industrial growth to the 12-month high 19.6 per cent in May 2022 was led by manufacturing and electricity, with ...
India`s industrial production grew 19.6% in May
India`s industrial production grew 19.6% in May
Source: IANS
13/07/2022 9:15:20 AM
Indian economy to grow 12-13% in first quarter of current fiscal: Icra Rating agency Icra has forecasted the Indian economy to grow 12-13 per cent in the first quarter of the current fiscal (Q1FY23), citing the second highest business activity index reading in 13 months in April. However, it has maintained its annual GDP projection at 7.2 per cent for this fiscal citing worries over inflation and the resultant RBI tightening. Icra Chief Economist Aditi Nayar said ‘Our business activity monitor for April at 115.7 indicates that activity was roughly 16 per c...
Indian economy to grow 12-13% in first quarter of current fiscal: Icra
Indian economy to grow 12-13% in first quarter of current fiscal: Icra
Source: Accord Fintech
18/05/2022 9:29:46 AM
Lower demand post festive season sequentially eases India's November core sector growth Lower demand after the festive season amidst supply disruptions in parts of southern India due to heavy rainfall, eased the growth rate of India's eight major industries in November, on a sequential basis. The Index of Eight Core Industries' (ICI) readings for last month showed a slower rate of expansion at 3.1 per cent (provisional) from a rise of 8.4 per cent (provisional) reported for October 2021. However, on a year-on-year basis, the ICI reading during the period under revi...
Lower demand post festive season sequentially eases India's November core sector growth
Lower demand post festive season sequentially eases India's November core sector growth
Source: IANS
1/01/2022 9:41:29 AM