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Moody: India’s GDP crossed $3.5 trillion mark in 2022

Which is also good number, we just have to make it consistent and bring trade surplus or 0 deficit and we will be in a good position in a decade.
India's population growth rate has dropped to 0.8%, and countries such as China have begun to use robots on a large scale in manufacturing and AI in service industries. India doesn't have much time.
 
India's GDP growth may breach 7%-mark in FY23: RBI Governor Das
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India's gross domestic product growth could be above 7% for 2022-23, the Reserve Bank of India Governor Shaktikanta Das said at a CII event on Wednesday. There is also a possibility that GDP growth for the last financial year could be higher, he said.

Das noted that almost all high-frequency indicators monitored by the central bank showed that momentum was sustained in the final quarter of the last financial year and it would not be a surprise if India's economy grows at a rate higher than 7%.

"The agricultural sector has done well and so has the services sector. Capex & infra spending by the government has picked up," Das said. Das noted that there is evidence of a revival of private investment as well, with signs visible in the steel & cement sectors.

"Capacity utilisation in the manufacturing sector as per the RBIs latest survey, is around 75%. But a CII survey shows it to be even higher," he added.

India should log growth close to 6.5% in the ongoing financial year, however, there are downside risks, he said.

The RBI expects the next print of retail inflation to be lower than 4.7 per cent. India's consumer price inflation (CPI) eased to an 18-month low of 4.7% in April, from 5.66% in the previous month, largely due to a moderation in food prices, which accounts for nearly half of the overall consumer price basket.

Inflation data for May is due on June 12. The country's retail inflation was closest to the 4%-mark last in January 2021 at 4.06%.

The RBI's MPC has increased the repo rate by 250 basis points since May last year to quell inflationary pressures. Most economists expect the MPC to hold rates for the second time when it meets next month.


"RBI to ensure adequate availability of liquidity to meet production requirements of the economy," Das said.

Foreign turmoil
Das said that as global central banks raised interest rates rapidly to contain inflation, certain fault lines emerged in banking and non-bank financial intermediaries, hinting at recent events in the United States and Switzerland in March 2023.

"The proximate cause of banking turmoil in Switzerland and the US is a confluence of rising interest rates, unrealised losses in debt portfolio," Das said. And as such, the coexistence of high inflation and banking stress is complicating the responses of central banks as they face a trade-off between either straining the financial markets and having to tolerate longer periods of inflation.

Financial markets remain volatile owing to uncertainty over the future monetary policy path is keeping market sentiments on the edge, said Das.

Amidst all this, the Indian banking sector has remained resilient. "NPA which was a huge challenge for Indian banking has moderated and is showing very good signs of resilience," Das added. He reiterated that the unaudited percentage of gross bad assets of banks up to March 31 is lower than 4.4%.

"Indian banking system remains stable, resilient with strong capital, liquidity position and improving asset quality," Das noted.

Talking about the growth of digital transactions and regulations in India, Das said that fintech and digital lending are something the central bank actively supports.

"India was seeing 2.28 crore digital transactions per day in 2016. Today we are seeing 37.75 crore transactions per day," Das said.
When China was in the current stage of India, its growth rate was 13.9% (in 1993, based on the proportion of GDP to the world economy) and 14.2% (in 2006, based on 3.5 trillion GDP).
 
When China was in the current stage of India, its growth rate was 13.9% (in 1993, based on the proportion of GDP to the world economy) and 14.2% (in 2006, based on 3.5 trillion GDP).
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When China was in the current stage of India, its growth rate was 13.9% (in 1993, based on the proportion of GDP to the world economy) and 14.2% (in 2006, based on 3.5 trillion GDP).
Yes, chinese growth was miraculous, we can't touch that. What we can hop is consistent ~7% for next two-three decades.
 
Just wait the real GDP growth for Q1 2023. My projection is at 4.5-5.5 percent.

If I am not mistaken the number will be released by Indian Statistic Biro Tomorrow right?

Why do you laught ?

What I am saying is quite consistent with neutral economist latest projection


@CallSignMaverick
 
billionaires are a function of winners take all economy
A billionaire remains a billionaire as long as he or she is multiplying the wealth of its shareholders, and to do so they've to keep investing in existing or new businesses to grow their revenues and profits to keep shareholders happy.

Thats why India's biggest businesses are investing hundreds billions of dollars worth money every decade just so that their revenue and profits go up. And in this process millions of new direct and indirect jobs are created, government is able to get much more tax revenue and the average Indian gets wealthier making other companies to invest further to tap the Indian consumer market and this cycle goes on.

Thats not the case with our neighbours as @Laozi pointed out.

Why do you laught ?

What I am saying is quite consistent with neutral economist latest projection


@CallSignMaverick
Simply because thats Q4 not Q1, our financial year is different.
 
Just wait the real GDP growth for Q1 2023. My projection is at 4.5-5.5 percent.

If I am not mistaken the number will be released by Indian Statistic Biro Tomorrow right?
Updated May 26, 2023, 9:33 AM IST

State Bank of India’s (SBI) latest research report, Ecowrap, mentioned on Friday that India’s growth in the fourth quarter of FY23 is likely to be 5.5 per cent, leading to the country’s growth for FY23 at 7.1 per cent. This is in line with the advance estimates released by the National Statistical Office (NSO) in January that pegged the growth for the year ended March 31, 2023, at 7 per cent.

 
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Updated May 26, 2023, 9:33 AM IST

State Bank of India’s (SBI) latest research report, Ecowrap, mentioned on Friday that India’s growth in the fourth quarter of FY23 is likely to be 5.5 per cent, leading to the country’s growth for FY23 at 7.1 per cent. This is in line with the advance estimates released by the National Statistical Office (NSO) in January that pegged the growth for the year ended March 31, 2023, at 7 per cent.

This is the quarter that never faced any economic hurdle, not corona, not second wave of corona and not even Ukraine war, so it's still quite good 5% in this global turmoil and recessionary degrowth world over.
 



Based on the oil and coal production, both China and India exceed Indonesia production. For China, they also produce more natural gas than Indonesia.
 
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Based on the oil and coal production, both China and India exceed Indonesia production. For China, they also produce more natural gas than Indonesia.
But unfortunately on per capita basis India is far behind due to limited resources per capita we have.
 
Reserve Bank of India projection for India Q1 2023 economic growth is 5.1 % which is still within my projection. We will see real number soon in the end of this month.
 

There are two types of statistics in this world.​

One is normal statistics, and the other is Indian statistics.​

I just found out that Indians actually count the mileage of highways based on the number of lanes. A 4-lane highway is actually counted as the mileage of the lanes multiplied by 4.​





Govt Shifts to ‘Lane Kilometre’ Concept to Calculate Road Length​




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