09:51:57 PM IST, 29 February 2024
India Q3 GDP Stay: ‘A lot of the upside shock from internet taxes’
India Q3 GDP Stay: Suvodeep Rakshit, Senior economist, Kotak Institutional Equities mentioned, ” Actual GDP development in Q3 FY24 was a lot forward of expectations at 8.4%. Nevertheless, a lot of the upside shock was from internet taxes. The underlying manufacturing development mirrored in GVA (gross worth added) development was nearer to expectations at 6.5%. Broadly, GDP information indicated that funding development continues to outpace consumption development by an enormous margin.” Rakshit added, “The family financial savings charge dipped in FY23, led by a decrease monetary financial savings charge in contrast with FY22. As anticipated, the bodily financial savings charge elevated marginally. For coverage makers, the priority on development will stay minimal for now with development staying on a decently robust footing.”
09:25:58 PM IST, 29 February 2024
India Q3 GDP Stay: Indian financial system is on a excessive development trajectory, says CII
India Q3 GDP Stay: Stressing that the Indian financial system is presently experiencing important development, the Confederation of Indian Business expressed confidence in an announcement on Thursday that it’s going to keep a development charge of seven% or extra over the medium time period. Chandrajit Banerjee, Director Normal, CII, mentioned, “trade is enthused to notice the robust set of GDP development numbers for the third quarter (YoY), which surpassed expectations, recording an precise charge of 8.4 p.c exceeding the earlier quarter’s 7.6 per cent”.
08:32:37 PM IST, 29 February 2024
India Q3 GDP Stay: India’s development story is simply starting, says Amitabh Kant
India Q3 GDP Stay: In a tweet, Amitabh Kant remarked, “Progress is available in at 8.4% in Q3, the best in 6 quarters and marks three consecutive quarters of 8%+ development. Investments have risen to 31.7% of GDP. Excessive development is seen in job-creating sectors, with manufacturing rising at 8.5% and building at 10.7%. These numbers mirror the central authorities’s push in the direction of manufacturing and infrastructure growth. India’s development story is simply starting.”
08:07:18 PM IST, 29 February 2024
India Q3 GDP Stay: Investments gaining momentum
India Q3 GDP Stay: Vivek Rathi, Nationwide Director Analysis, Knight Frank India mentioned, “The push to financial development has primarily come from investments, i.e. 12.2% development in gross capital formation (GCF). This means a shift within the financial panorama the place investments are gaining momentum. The expansion in investments holds significance for the revival of the capital expenditure cycle within the financial system, which in flip, helps long-term development.”Rathi added, “The rise in home manufacturing and the continued upswing in the true property sector and elevated infrastructure actions are anticipated to additional increase development within the respective sectors. Nevertheless, a average development of three.5% in home personal consumption will be regarding as it’s the key engine of financial development.”
07:50:52 PM IST, 29 February 2024
India Q3 GDP Stay: ‘India clearly on a excessive and sustained excessive development path’
Sharma added, “Whereas agriculture declined 0.8% in Q3, as in contrast with 1.6% development in Q2, mining grew 7.5%, up from 11.1% within the earlier quarter and manufacturing expanded 11.6%, as towards 14.4% within the prior quarter. Electrical energy and different public utilities expanded by 9% versus 10.5%. Drastically welcome. India is clearly on a excessive and sustained excessive development path.”
07:21:40 PM IST, 29 February 2024
India Q3 GDP Stay: Pvt capex to achieve additional traction in FY25
India Q3 GDP Stay: CEA expects personal capex to achieve additional traction in FY25. He mentioned, “It is not applicable to anticipate all of the sectors of a giant and various financial system like India to carry out very properly on the identical time.”
07:22:28 PM IST, 29 February 2024
India Q3 GDP Stay: CEA advocates for revision in India’s FY24 development projections by businesses
India Q3 GDP Stay: There’s a case for businesses to revise their FY24 development projections for India, mentioned CEA on the GDP briefing
07:01:50 PM IST, 29 February 2024
India Q3 GDP Stay: CEA on structural transformation
India Q3 GDP Stay: A structural transformation of the financial system is underway, each by way of digital infra and bodily infra, mentioned CEA.
07:00:20 PM IST, 29 February 2024
India Q3 GDP Stay: Total the Indian financial system ticks all of the containers in the fitting method, says CEA
06:59:50 PM IST, 29 February 2024
India Q3 GDP Stay: No indicators of vulnerability
India Q3 GDP Stay: In accordance with CEA, India’s exterior sector exhibits no indicators of vulnerability regardless of world headwinds. He added, “Govt’s dedication in the direction of environment friendly fiscal administration stays intact.”
06:57:44 PM IST, 29 February 2024
India Q3 GDP Stay: Pvt capex is going on now, says CEA
India Q3 GDP Stay: Non-public sector capex shouldn’t be a narrative for the long run, it is taking place now, mentioned CEA. He added, “There’s proof of sustained funding exercise.”
06:52:04 PM IST, 29 February 2024
India Q3 GDP Stay: Rural and concrete demand
India Q3 GDP Stay: City demand circumstances stay resilient, accompanied by a restoration in rural demand, mentioned Chief Financial Advisor V Anantha Nageswaran on the GDP briefing. He added, “development in rural demand and revenue is anticipated to select up subsequent fiscal with a restoration within the farm sector development.”
06:49:14 PM IST, 29 February 2024
India Q3 GDP Stay: CEA on headline and core inflation
India Q3 GDP Stay: Headline and core inflation additional declines, which is able to doubtless increase consumption, mentioned CEA at GDP briefing.
06:48:01 PM IST, 29 February 2024
India Q3 GDP Stay: Strong 8.4% GDP development exhibits the energy of Indian financial system and its potential: PM Modi
06:46:23 PM IST, 29 February 2024
India Q3 GDP Stay: CEA on farm sector development
India Q3 GDP Stay: Erratic monsoon harm FY24 farm sector development; farm sector ought to rebound in FY25, mentioned Chief financial advisor V Anantha Nageswaran at GDP briefing.
06:45:18 PM IST, 29 February 2024
India Q3 GDP Stay: India’s macro vulnerability index has been bettering, says CEA
06:44:41 PM IST, 29 February 2024
India Q3 GDP Stay: India continues to be an outlier by way of GDP development, says CEA
06:36:34 PM IST, 29 February 2024
India Q3 GDP Stay: Lagging consumption in focus
India Q3 GDP Stay: Upasna Bhardwaj, chief economist at Kotak Mahindra Financial institution mentioned, “The sharp upward revision to the GDP comes on the backdrop of downward revision to FY23 figures and stronger funding and internet exports in FY24, however lagging consumption.”Bhardwaj added, “Extra intriguing is that gross value-added estimates for FY24 have been left unchanged, whereas GDP is sharply increased.”
06:20:21 PM IST, 29 February 2024
India Q3 GDP Stay: Funding development on the motive force’s seat
She added,”Funding development is on the motive force’s seat as a supply-driven push additionally helps the financial system witness a non-inflationary restoration, whereas consumption grew at a average tempo.”
“Dangers to the outlook are primarily exogenous, with an surprising worsening within the geopolitical scenario in addition to unstable commodity actions. The sturdy development report will doubtless reinforce the central financial institution’s optimism on the outlook, reinforcing their choice to maintain coverage circumstances tight.”
06:09:48 PM IST, 29 February 2024
India Q3 GDP Stay: How did the farm sector carry out in Q3?
India Q3 GDP Stay: The agricultural sector, constituting roughly 15% of the $3.7 trillion financial system, skilled a contraction of 0.8% compared to a development of 1.6% noticed within the September quarter.
06:07:56 PM IST, 29 February 2024
India Q3 GDP Stay: A have a look at the manufacturing sector
Within the December quarter, the manufacturing sector, representing approx 17% of India’s financial system over the previous decade, recorded a year-on-year development of 11.6%. This determine displays a slight lower from the revised development charge of 14.4% noticed within the previous three months.
05:57:39 PM IST, 29 February 2024
India Q3 GDP Stay: Revisions made to FY23 Quarterly development
- Q1FY23 7.8% revised to eight.2%
- Q2FY23 7.6% revised to eight.1%
05:56:22 PM IST, 29 February 2024
India Q3 GDP Stay: GVA development and sector-wise numbers
- Oct-Dec GVA development at 6.5% vs 4.8% YoY
- Oct-Dec farm sector development at -0.8% vs 5.2% YoY
- Oct-Dec mining sector development at 7.5% vs 1.4% YoY
- Oct-Dec manufacturing sector development at 11.6% vs 4.8% YoY
- Oct-Dec building sector development at 9.5% vs 9.5% YoY
05:45:00 PM IST, 29 February 2024
India Q3 GDP Stay: What led to the stunning 8.4% development charge
India Q3 GDP Stay: Pushed by a outstanding double-digit development charge of 11.6% within the manufacturing sector and a stable efficiency within the building sector with a development charge of 9.5%, India’s actual GDP surged by 8.4% within the third quarter of the fiscal 12 months 2023-24.
05:42:54 PM IST, 29 February 2024
India Q3 GDP Stay: FY24 development has been pegged at 7.6% vs 7% within the earlier 12 months
05:38:33 PM IST, 29 February 2024
India Q3 GDP Stay: India grows by 8.4% in Q3, thwarting expectations of 6.6%
05:28:55 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development
In January 2024, the manufacturing of coal, metal, cement, pure gasoline, electrical energy, and crude oil witnessed optimistic development, in keeping with latest information. Nevertheless, there was a decline within the manufacturing of fertilizers and petroleum refinery merchandise throughout the identical interval.
05:26:16 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Metal manufacturing
India Q3 GDP Stay: The manufacturing of metal elevated by 7.0 per cent in January, 2024 over January, 2023.
05:24:49 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Decline in petroleum refinery manufacturing
The manufacturing of petroleum refinery merchandise declined by 4.3 per cent in January, 2024.
05:22:37 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Improve in pure gasoline manufacturing
The manufacturing of pure gasoline elevated by 5.5 per cent in January, 2024 over January, 2023.
05:20:30 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Decline in fertiliser manufacturing
The manufacturing of fertilisers declined by 0.6 per cent in January, 2024 over January, 2023.
05:19:22 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Electrical energy
The technology of electrical energy elevated by 5.2 per cent in January, 2024 over January, 2023.
05:17:20 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Crude
The manufacturing of crude oil manufacturing elevated by 0.7 per cent in January, 2024 as in comparison with January, 2023.
05:15:38 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Coal
India Q3 GDP Stay: Coal manufacturing elevated by 10.2 per cent in January, 2024 over January, 2023.
05:14:42 PM IST, 29 February 2024
India Q3 GDP Stay: Eight core sectors development – Cement
India Q3 GDP Stay: Cement manufacturing elevated by 5.6 per cent in January, 2024 over January, 2023.
05:12:47 PM IST, 29 February 2024
India Q3 GDP Stay: Progress of eight core sectors slows down to three.6% in January
India Q3 GDP Stay: The mixed Index of Eight Core Industries (ICI) elevated by 3.6 per cent (provisional) in January 2024 as in comparison with the Index of January 2023. The manufacturing of Coal, Metal, Cement, Pure Gasoline, Electrical energy and Crude Oil recorded optimistic development in January 2024.
04:59:05 PM IST, 29 February 2024
India Q3 GDP Stay: State of business lending
India Q3 GDP Stay: In accordance with a credit score info firm, the business credit score portfolio elevated by 11 p.c within the September quarter, reaching Rs 28.2 lakh crore. Moreover, the delinquency charge by the top of the identical quarter was reported to be at its lowest level previously two years, as indicated within the quarterly report by Sidbi and Transunion Cibil.
04:44:10 PM IST, 29 February 2024
India Q3 GDP Stay: India’s resilient financial system in This autumn
India Q3 GDP Stay: In accordance with the Nationwide Council of Utilized Financial Analysis (NCAER), India’s financial system started the fourth quarter on a optimistic word, as highlighted in its month-to-month financial evaluate launched on Wednesday. NCAER identified that main indicators such because the Buying Managers’ Index and Items and Providers Tax assortment recommended a sturdy financial system, with the companies sector selecting up tempo and manufacturing exhibiting elevated momentum.
04:42:16 PM IST, 29 February 2024
India Q3 GDP Stay: From 7.6% to 6.6%?
India Q3 GDP Stay: In accordance with a latest Reuters ballot, India’s development charge is projected to be 6.6% for the three months concluding on December 31. This displays a deceleration in comparison with the earlier quarter, which noticed development at 7.6%, and the July quarter, the place development stood at 7.8%.
04:09:57 PM IST, 29 February 2024
April-Jan fiscal deficit at 63.6% of Rs 17.34 lk cr FY24 goal
03:33:31 PM IST, 29 February 2024
India Q3 GDP Stay: India more likely to retain its place as one of many world’s fastest-growing economies with estimated development of seven.3%
India Q3 GDP Stay: Regardless of slower development, India is more likely to retain its place as one of many world’s fastest-growing economies with estimated development of seven.3% estimated within the present fiscal 12 months, the federal government’s first advance estimate exhibits, amid a faltering China and a eurozone narrowly escaping a technical recession.
02:59:53 PM IST, 29 February 2024
India Q3 GDP Stay: Q3 GDP could slide to six.7-6.9% on poor farm sector present, says SBI Analysis
India Q3 GDP Stay: The Indian financial system is more likely to develop at 6.7-6.9 per cent within the Dec quarter FY24 as in comparison with 7.6 per cent development within the second quarter on poor efficiency within the farm sector, a report by SBI Analysis mentioned on Wednesday. The report comes a day forward of the discharge of official GDP information for the third quarter of 2023-24 monetary 12 months.
02:49:54 PM IST, 29 February 2024
India Q3 GDP Stay: About Q2 GDP figures
India Q3 GDP Stay: Within the second quarter, manufacturing expanded by 13.9%, whereas development in Agriculture, Livestock, Forestry & Fishing slowed to 1.2% from 2.5% year-on-year (YoY). Commerce, Resorts, Transport, Communication & Broadcasting-related companies skilled a lower in development to 4.3% in comparison with 15.6% YoY. Electrical energy, Gasoline, Water Provide & Different Utility Providers witnessed a rise of 10.1% in comparison with 6% YoY. Development additionally demonstrated sturdy development at 13.3% in comparison with 5.7% YoY.
02:35:11 PM IST, 29 February 2024
India Q3 GDP Stay: Economists much less optimistic for subsequent monetary 12 months as properly
India Q3 GDP Stay: The Reserve Financial institution of India had earlier anticipated 7 per cent development charge for FY25. Nevertheless, in a ballot carried out by The Financial Instances, the median development estimate for FY25 was at 6.5%.
02:28:46 PM IST, 29 February 2024
India Q3 GDP Stay: Why GDP development may haved slowed down in Q3
In accordance with Rahul Bajoria, managing director and head of EM Asia (ex-China) economics at Barclays, “A slowdown in state-led capex, which has been propelling funding, doubtless contributed to the anticipated deceleration in Q3.”
02:17:39 PM IST, 29 February 2024
India Q3 GDP Stay: From 7.8 per cent in Q1 to…
Within the first quarter, the Indian financial system was working at full steam and registered a development charge of seven.8 per cent which then dropped to 7.6 per cent.
02:08:24 PM IST, 29 February 2024
India Q3 GDP Stay: ET ballot forecasts
01:47:13 PM IST, 29 February 2024
India Q3 GDP Stay: Will RBI slash coverage charges?
Amid slowdown in development, the central financial institution is anticipated to chop the coverage charge by 1 / 4 proportion level in both the June or August coverage assembly. RBI stored the speed on maintain at 6.5% for the sixth consecutive time earlier this month.
01:35:01 PM IST, 29 February 2024
India Q3 GDP Stay: Efficiency of Indian Rupee
The rupee appreciated 2 paise to 82.89 towards the US greenback in early commerce on Thursday, monitoring a weak American foreign money and a downward pattern within the crude oil costs. The home unit, nonetheless, weighed down by a unstable fairness market and unabated outflow of overseas funds, foreign exchange merchants mentioned.Market individuals had been additionally awaiting the home GDP information to be launched later within the day, they mentioned.
01:17:08 PM IST, 29 February 2024
India Q3 GDP Stay: India’s Foreign exchange Reserves
India’s foreign exchange reserves declined USD 5.24 billion to USD 617.23 billion for the week ending February 9, in keeping with weekly information launched by the Reserve Financial institution of India (RBI) on Friday. The foreign exchange kitty stood at USD 622.5 billion for the week ended February 2. The reserves had peaked in October 2021, when kitty had reached USD 645 billion. The reserves took successful because the central financial institution bought {dollars} to defend the rupee amid pressures induced majorly by world developments since final 12 months.
12:57:39 PM IST, 29 February 2024
India Q3 GDP Stay: How Indian financial system carried out in previous few years
12:42:10 PM IST, 29 February 2024
India Q3 GDP Stay: ‘Non-public sector funding in subsequent few quarters’
“Pickup in personal sector funding has to date been primarily within the infrastructure sector. Nevertheless, we do anticipate general personal sector funding to select up step by step within the subsequent few quarters, as there’s extra coverage certainty submit the overall elections,” says CareEdge’s Rajani Sinha.
12:30:41 PM IST, 29 February 2024
India Q3 GDP Stay: Uneven development throughout sectors in Q3 doubtless, says economist Jahnavi Prabhakar
In accordance with Prabhakar, financial development in Q3 FY24 although is a tad slower than Q2, it’s uneven throughout sectors with a number of of them registering higher development than others. “For Q3FY24, the financial system is projected to develop at a slower tempo by 6.4 per cent towards a development of seven.6 per cent in Q2FY24 led by subdued development in agriculture and trade sector. Service sector is anticipated to raise up development,” he added.
12:14:04 PM IST, 29 February 2024
India Q3 GDP Stay: India’s development at 6.6% in Q3, exhibits ET Ballot
In accordance with the median of estimates in an ET ballot of 15 economists, India’s GDP development charge within the third quarter of the present fiscal is more likely to be at 6.6 per cent.
Decrease quantity development for the economic sector, flagging momentum in sure indicators of funding exercise, a slowdown in Authorities expenditure and an uneven monsoon are anticipated to dampen the GDP development to six.0% in Q3 FY2024 from 7.6% in Q2 FY2024
– Aditi Nayar, Chief Economist, Head-Analysis & Outreach, ICRA Ltd.
11:30:58 AM IST, 29 February 2024
India Q3 GDP Stay: Issues over agricultural sector
The agricultural sector, nonetheless, faces some challenges, with a decline within the estimated manufacturing of main Kharif crops for 2023-24 in comparison with FY23. Whereas the sowing season for Rabi crops suggests a slight enhance in general acreage, issues come up over the decline within the sown space beneath cereals. Regardless of these challenges, the inland fish manufacturing has proven speedy development, reaching 131.13 lakh tonnes in 2022-23. The fisheries sector’s contribution to the nationwide GVA and agricultural GVA signifies potential help for the Agri & Allied sector’s development in FY24.
11:15:56 AM IST, 29 February 2024
India Q3 GDP Stay: Providers sectors’ GVA development to rise, says ICRA
ICRA in its estimation mentioned that the companies sectors’ GVA development year-on-year could rise to six.5 per cent within the third quarter of the present fiscal from 5.8 per cent within the July-September interval of 2023-24, led by commerce, inns, transport, communication, and companies associated to broadcasting.
10:54:04 AM IST, 29 February 2024
India Q3 GDP Stay: ICRA sees 6 per cent development charge
In accordance with ranking company ICRA, the GDP development charge could average to six per cent yoy. Contraction of 0.2 per cent within the whole spending by the Indian Authorities and 25 states within the earlier quarter could have dulled the GVA development.
10:37:46 AM IST, 29 February 2024
India Q3 GDP Stay: GST assortment in Jan 2024 registers second highest month-to-month income
The gross GST income collected in January 2024 stood at Rs 1,72,129 crore marking a outstanding 10.4 p.c year-on-year development in comparison with the income of Rs 155,922 crore collected in January 2023. It was additionally the second-highest month-to-month assortment ever. Moreover, January 2024 marks the third month on this monetary 12 months with a group of Rs 1.70 lakh crore or extra, as per the Ministry of Finance.
10:17:16 AM IST, 29 February 2024
India Q3 GDP Stay: Muted begin for markets forward of macro information
Indian benchmark fairness indices had been off to a muted begin on Thursday. Sensex climbed 93.51 factors to 72,398.39 in early commerce whereas Nifty was up 12.55 factors to 21,963.70.
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