Indian Economy-News & Updates

[fsayed]

DIFFERENT TAKE - Economy grew at 5.2% under old method: BofA-ML report

The gross domestic product (GDP) of the country has grown 7.4% in the second quarter ending September 2015, data released by the government, using new methodology , showed. But, the growth would have been lower at 5.2% under old methodology , said Bank of America-Merrill Lynch (BofA-ML) in a report. In the first quarter also (April-June), GDP growth was at around 5% under old series as against 7% according to the new series, the report added.
The new method (series) is more broad-based and gives a comprehensive picture of the economy as against the old series, says the government. But, the general perception is that the economy is not reflecting the mood that is normally seen when 7.4% growth is realised. Also, GDP growth in new series is lower than that measured on curren price, mainly because who lesale inflation is negative According to HSBC Globa Research, GDP on curren price grew at 6% but the growth was 7.4% in the rea term (at constant price) This means GDP was incre ased by 1.4 percentage points. “Nominal GDP grew at a much slower rate than real GDP implying that deflators (adjustment for inflation and other factors) have fallen sharply into the negative territory ,“ said the bank in the report.

Even at Gross Value Added (GVA) term, the economy at current price grew at 5.2% but the growth was 7.4% at constant price. Here, it is inflated by 2.2 percentage points. The bank said it seems that deflators have been underestimated in the new GDP series because services deflator has been “pegged more to WPI than CPI“, which is in the positive territory .

 

[Nilgiri]

So you create a thread all by itself and you post it here too.

DIFFERENT TAKE - Economy grew at 5.2% under old method: BofA-ML report

Desperate congressi.

Lets see if you actually respond in a professional, educated manner anywhere.

 

[fsayed]

So you create a thread all by itself and you post it here too.

DIFFERENT TAKE - Economy grew at 5.2% under old method: BofA-ML report

Desperate congressi.

Lets see if you actually respond in a professional, educated manner anywhere.

I think bank of america expert veiws mention above is more important and serious for our economy then urs and mine bcoz he already running a bank which influence investor perception interm of investment and future growth of business

 

[Nilgiri]

I think bank of america expert veiws mention above is more important and serious for our economy then urs and mine bcoz he already running a bank which influence investor perception interm of investment and future growth of business

So in other words you have no idea as to the basis for using the CPI vs WPI vs deflator (which is a weighted measure of both). Do you know anything about how the weights for the deflator are calculated...and why different banks can have different issues regarding this? No Statistics organisation is going to please every single bank out there.

There is certainly no loud chorus from the WB, IMF and other major organisations clamouring that this deflator is totally wrong etc etc...just one bank is saying it "seems" biased towards WPI...that too only for services. Till they reveal how much they feel it is biased by, it is water under the bridge.

 

[fsayed]

Private sector firms' PAT fell 9.9% in Q2 FY16: RBI - The Economic Times

MUMBAI: Country's private sector companies saw a dip of 9.9 per cent in profit after tax for the second quarter of this fiscal, compared to 25.6 per cent growth in the year-ago period, RBI data showed.

In the first quarter, there was a contraction in the net profit at -9.5 per cent.

"Among the sectors, services (other than IT) recorded a contraction in net profits," RBI said in the data released today on the performance of non-financial private firms during the second quarter of FY16.

The data is based on the abridged financial results of 2,711 listed non-government non-financial companies.

During the quarter, aggregate sales contracted further primarily due to a sharp contraction of 37.2 per cent in the sales of petroleum products industry group.

Sales in the manufacturing sector also contracted by 7.8 per cent.

The services sectors (other than IT sector) recorded improvement in sales growth (Y-o-Y) in comparison with the previous quarter.

Expenditure contracted at a higher rate than sales at the aggregate level.

Cost of raw materials to sales ratio declined from 56.9 per cent in Q2 of FY15 to 51.6 per cent in Q1 FY16 and further down to 50.8 per cent in Q2 FY16.

At the aggregate level, year-on-year Ebitda growth improved from 3.7 per cent in Q1 FY16 to 8.9 per cent in Q2 FY16. "This improvement was observed across all the sectors," RBI said.

Pricing power as measured by Ebitda margin remained at the level observed in the previous quarter for the aggregate as well as the manufacturing sector.

IT sector recorded an improvement in both Ebitda and net profit margins

 

[Nilgiri]

Everyone follow the responses in the other thread this individual has posted elsewhere (refer to post 5312). No point in me repeating everything twice.

 

[fsayed]

India’s November services PMI hits 5-month low - The Economic Times
NEW DELHI: India's services activity broadly stagnated in November with the Nikkei Services Business Activity Index posting a five-month low of 50.2 compared with 52.6 in October, which was an eight-month high.

Weak demand across the country meant services companies had the slowest rise in incoming new work since July. As a consequence, business activity stood still and confidence waned.

A reading above 50 on the survey-based index shows expansion, while a figure below that indicates contraction. Sub-sector data showed that output growth in post and telecommunication, renting and 'other services' categories was offset by declines in transport and storage, and hotels and restaurant firms, the latter recording a sharper rate of reduction.

"Following an improvement in the prior month, India's economic growth moved closer to stagnation in November. Gloomy PMI data show a broadbased weakness in output, with little prospect of a rebound apparent in the near term," said Pollyanna De Lima, economist at Markit, which compiles the survey.

The survey also cited fierce competition and frail economic conditions for the slowdown in growth of new work.

Order book volumes in the manufacturing economy increased for the 25th straight month, although at the weakest pace in this sequence.

On Tuesday, the same organisation had showed that India's manufacturing growth slumped to a 25-month low in November due to a combination of lower demand, higher input costs and softening output.

 

[ranjeet]

Government's gold bond scheme a hit, gets 63,000 applications for gold worth 246 crore - timesofindia-economictimes

Richest Hindu Temple May Move Stash to PM Modis Gold Scheme - NDTVProfit.com

 

[skyisthelimit]

Tirupati: World's richest temple may move stash to Modi government's gold scheme

Read more at:
Tirupati: World's richest temple may move stash to Modi government's gold scheme - The Economic Times

Rs 42,000 crore disbursed under Pradhan Mantri Mudra Yojana: Jayant Sinha

Read more at:
Rs 42,000 crore disbursed under Pradhan Mantri Mudra Yojana: Jayant Sinha - The Economic Times

 

[magudi]

Economy grew at 5.2% under old method: BofA-ML report - The Times of India

 

[fsayed]

Railways hikes fare for children from 5 to 12 years | The Indian Express

 

[Abingdonboy]

 

[Nilgiri]

@iajdani ...Job growth is so "bad"

Indian employers most upbeat on hiring in Q1 2016 - The Economic Times

MUMBAI: Indian employers are the most bullish in the world when it comes to hiring plans for the quarter to March 2016, according to the latest edition of the Manpower Employment Outlook Survey which covers 58,000 firms across 42 countries. With about 42% of the 5,065 employers surveyed in the country expecting to add to their staff during the quarter, India has topped the list for the second consecutive quarter. "Job prospects are continuing to improve. Consumer-focused industries led by e-commerce companies are leading the hiring march, and will continue to do so in the next quarter," AG Rao, group managing director at Manpower-Group India, told ET.

Transportation and utilities, public administration, education, wholesale and retail trade are expected to show strong growth and hiring outlook remains high, said Rao. "A majority of the companies across all sectors are hiring, indicating a clear strategy focused on growth," he said. According to the survey, job gains are expected in all seven sector groupings during the three-month period.

While about 48% employers in transportation and utilities are looking to step up hiring from January, the figure is over 45% in finance, insurance and real estate; public administration and education; and wholesale and retail trade. Services sector employers are also upbeat, with more than 43% looking to hire in the next quarter, while the figures for mining and construction, and manufacturing are more than 41% and 40% respectively. Employers expect payroll gains in all four regions during the quarter, with the northern region leading the pack with about 55% employers anticipating the most opportunities for jobseekers in the months ahead.

Employers in the western region also report bullish hiring prospects, with an outlook of over 42% while the figures in the southern and eastern regions stand at over 37% and 36% respectively. In comparison with October-December 2015, hiring plans have strengthened in four of the seven industry sectors. There is an increase of 6 percentage points in finance, insurance and real estate, while the hiring outlook has seen a 4 percentage point jump in both mining and construction, and public administration and education.

Hiring plans are unchanged in manufacturing sector and wholesale and retail trade, and remain relatively stable in the services sector. The outlook has improved in three of the seven sectors year-onyear, with public administration and education sector employers reporting the most significant increase of 8 percentage points. There is a 2 percentage point increase in both mining and construction sector, and transportation and utilities.

However, hiring intentions have weakened in wholesale and retail trade, and manufacturing, by 7 and 3 percentage points, respectively.

 

[TopCat]

@iajdani ...Job growth is so "bad"

Indian employers most upbeat on hiring in Q1 2016 - The Economic Times

MUMBAI: Indian employers are the most bullish in the world when it comes to hiring plans for the quarter to March 2016, according to the latest edition of the Manpower Employment Outlook Survey which covers 58,000 firms across 42 countries. With about 42% of the 5,065 employers surveyed in the country expecting to add to their staff during the quarter, India has topped the list for the second consecutive quarter. "Job prospects are continuing to improve. Consumer-focused industries led by e-commerce companies are leading the hiring march, and will continue to do so in the next quarter," AG Rao, group managing director at Manpower-Group India, told ET.

Transportation and utilities, public administration, education, wholesale and retail trade are expected to show strong growth and hiring outlook remains high, said Rao. "A majority of the companies across all sectors are hiring, indicating a clear strategy focused on growth," he said. According to the survey, job gains are expected in all seven sector groupings during the three-month period.

While about 48% employers in transportation and utilities are looking to step up hiring from January, the figure is over 45% in finance, insurance and real estate; public administration and education; and wholesale and retail trade. Services sector employers are also upbeat, with more than 43% looking to hire in the next quarter, while the figures for mining and construction, and manufacturing are more than 41% and 40% respectively. Employers expect payroll gains in all four regions during the quarter, with the northern region leading the pack with about 55% employers anticipating the most opportunities for jobseekers in the months ahead.

Employers in the western region also report bullish hiring prospects, with an outlook of over 42% while the figures in the southern and eastern regions stand at over 37% and 36% respectively. In comparison with October-December 2015, hiring plans have strengthened in four of the seven industry sectors. There is an increase of 6 percentage points in finance, insurance and real estate, while the hiring outlook has seen a 4 percentage point jump in both mining and construction, and public administration and education.

Hiring plans are unchanged in manufacturing sector and wholesale and retail trade, and remain relatively stable in the services sector. The outlook has improved in three of the seven sectors year-onyear, with public administration and education sector employers reporting the most significant increase of 8 percentage points. There is a 2 percentage point increase in both mining and construction sector, and transportation and utilities.

However, hiring intentions have weakened in wholesale and retail trade, and manufacturing, by 7 and 3 percentage points, respectively.

Again the number with future tense...
2050 India will be super power.. 2100 India will colonized Venus.. etc. etc...

You sounds like Prem Ratan...the India mirror.

 

[Nilgiri]

Again the number with future tense...
2050 India will be super power.. 2100 India will colonized Venus.. etc. etc...

The numbers will be realised in this current quarter itself....so you dont need to wait for long to be butthurt.

Here's another number to chew on while you are here. Indian govt spending is 600 billion USD. More than 3 times the entire Bangladesh GDP....and more than 21 times the Bangladesh govt spending. 21 times!...when we have 7 times the people....and its only going to continue to diverge from your soon to be submerged country. Should change your name from Bangladesh to Jala-desh....to eventually Dubo-desh