Indian economy estimated to grow at 7% in 2022-23, first advanced estimates show

[walterbibikow]

Indian economy is likely to grow at 7 per cent in the fiscal year ending March 31, 2023, the statistics office said on Friday.

The first advance estimates of national income for 2022-23 is significant because the data is used for preparing the Budget of the central government for next financial year of 2023-24.


Last month, the Reserve Bank of India had lowered the country's GDP (gross domestic product) growth forecast to 6.8 per cent for the current fiscal from 7 per cent earlier, on account of continued geopolitical tensions and tightening of global financial conditions.

The RBI had projected the real GDP growth for 2022-23 at 6.8 percent, with the third quarter at 4.4 per cent and the fourth at 4.2 per cent.

It had pared the growth projection for 2022-23 for the third time in December 2022.

Earlier this year, economists cut their projections for India's growth for this fiscal year to around the latest government projection, citing slowing exports and risks of high inflation crimping purchasing power.

Despite that, India is expected to remain the second-fastest growing economy –- lagging only Saudi Arabia -– among G20 countries, according to the Organisation of Economic Co-operation and Development (OECD)

India's GDP may grow 7.0% this fiscal, first advance estimates show

India's economy is expected to grow 7.0% in the current financial year, according to the first advance estimates by the National Statistical Office (NSO) released on Friday. New Delhi had pegged India's growth at 8.7% in the last fiscal year that ended March 31, 2022. The RBI had projected the...

economictimes.indiatimes.com

 

[walterbibikow]

Indian economy in a relative ‘bright spot’, must leverage exports: IMF official

NEW DELHI (Reuters) -India is in a relative “bright spot” in the world economy, but needs to leverage its existing strength in services exports and extend it to job-rich manufacturing exports, a top official at the International Monetary Fund (IMF) said on Friday.

“India is a relative bright spot in the world economy today, growing at rates significantly above its peer average,” IMF Deputy Managing Director Antoinette Sayeh said at an event in New Delhi.

“Macroeconomic policies are responding to the significant headwinds, with fiscal policy measures supporting vulnerable groups and monetary policy addressing persistently high inflation.”

India’s headline inflation moderated to an 11-month low 5.88% in November from 6.77% the month before. The Reserve Bank of India’s monetary policy committee has increased the policy repo rate by 225 basis points since May last year to reign in inflation.

Sayeh said she was hopeful that India’s federal government will provide a clear path on fiscal consolidation in the upcoming budget for 2023-24.

Indian economy in a relative 'bright spot', must leverage exports: IMF official

NEW DELHI (Reuters) -India is in a relative "bright spot" in the world economy, but needs to leverage its existing strength in services exports and extend it to job-rich manufacturing exports, a top

theprint.in

 

[Indos]

Congrats

 

[Indos]

Indian economy in a relative ‘bright spot’, must leverage exports: IMF official

NEW DELHI (Reuters) -India is in a relative “bright spot” in the world economy, but needs to leverage its existing strength in services exports and extend it to job-rich manufacturing exports, a top official at the International Monetary Fund (IMF) said on Friday.

“India is a relative bright spot in the world economy today, growing at rates significantly above its peer average,” IMF Deputy Managing Director Antoinette Sayeh said at an event in New Delhi.

“Macroeconomic policies are responding to the significant headwinds, with fiscal policy measures supporting vulnerable groups and monetary policy addressing persistently high inflation.”

India’s headline inflation moderated to an 11-month low 5.88% in November from 6.77% the month before. The Reserve Bank of India’s monetary policy committee has increased the policy repo rate by 225 basis points since May last year to reign in inflation.

Sayeh said she was hopeful that India’s federal government will provide a clear path on fiscal consolidation in the upcoming budget for 2023-24.

Indian economy in a relative 'bright spot', must leverage exports: IMF official

NEW DELHI (Reuters) -India is in a relative "bright spot" in the world economy, but needs to leverage its existing strength in services exports and extend it to job-rich manufacturing exports, a top

theprint.in

Bro, does India offer new US denominated bond in this beginning of year ?

I want to know India bond performance in this beginning of 2023 as we know all emerging countries shows foreign outflow in bond market last year, at least we see it in the first semester of 2022

 

[walterbibikow]

Bro, does India offer new US denominated bond in this beginning of year ?

I want to know India bond performance in this beginning of 2023 as we know all emerging countries shows foreign outflow in bond market last year, at least we see it in the first semester of 2022

Foreign institutional investors sell nearly ₹5,000 crore worth equities in first four days of 2023

 

[Indos]

Foreign institutional investors sell nearly ₹5,000 crore worth equities in first four days of 2023

They are still in selling mod? Equities can be ups and down, I mean I want to know the bond issuance, how much, and what is the yield, market reaction over the bond issuance, stuff like that.

I think if the bond absorbent is good, there should not be worried. The problem is if the market is still negative that led the Central Bank to buy government bond which can later push inflation up under current circumstances with relatively good domestic demand growth.