Moody's Investors Service on Tuesday lowered India's GDP growth forecast for 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy.
The GDP growth slowed down to a nearly seven-year low of 4.7 per cent in October-December 2019, according to the data released by the National Statistical Office (NSO)
Overseas investors invested only Rs 6,554 crore in Indian markets on a net basis in February, as they adopted a cautious stance amid coronavirus scare, subdued economic data, and disappointing corporate earnings.
In line with expectations, India's GDP growth rate bottomed out during the third quarter of the current fiscal and inched up to 4.7 per cent from 4.5 per cent reported for the previous quarter.
India's economic growth slowed to 4.7 percent in October-December 2019, according to official data released on Friday.
The IMF has said that Sri Lanka’s economy is gradually recovering from Easter Sunday terrorist attacks in 2019 with GDP growth projected at 3.7 per cent in 2020.
The Budget does not provide any counter-cyclical stimulus to boost consumption, and the Reserve Bank will have to do the heavy lifting to boost growth by cutting rates, the country's largest private sector lender HDFC Bank said on Wednesday. The budget announcements are also not inflationary in nature, and the Reserve Bank can cut rates as early as in the June review, it said.
The Budget 2020 is a developmental growth-oriented Budget ensuring more than 6.5% GDP Growth with Fiscal Deficit of less than 3.5% in FY 2020-21 to pave way for 5 trillion dollar economy by 2024 says IIF Prof. Aman Agarwal.
Budget 2020 announcement: The nominal GDP growth for the year 2020-21 is estimated at 10 percent, Union Finance Minister Nirmala Sitharaman announced on Saturday as she presented Budget 2020.
The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier, mainly due to deceleration in mining, manufacturing and farm sectors.
The government has announced a slew of measures recently to prop-up the economy, but Ind-Ra believes they will come to aid only in the medium term. Therefore, all eyes are on the forthcoming union budget, to be presented on February 1, 2020.
Senior Congress leader P Chidambaram said he won't be surprised if GDP growth goes even lower after IMF lowered India's economic growth estimate for the current fiscal to 4.8 percent.
The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.
GDP growth in India and few other large emerging countries may gain some momentum this year after the global economy recorded its lowest growth of 2.3 per cent in 2019 due to prolonged trade disputes, a UN study said on Thursday while lowering its current and next fiscal forecasts for the Indian economy.
The decline has been mainly on account of deceleration in manufacturing sector growth, which is expected to come down to 2 per cent in 2019-20 from 6.2 per cent in the year-ago fiscal, as per the first advanced estimates of the national income released by National Statistical Office(NSO) on Tuesday.
In November this year, China revised its 2018 GDP, saying the economy was 2.1 per cent bigger than earlier estimated, revising the gross domestic product (GDP) for 2018 to 91.93 trillion yuan (USD 13.1 trillion) from USD 12.8 trillion.
The Reserve Bank of India on Thursday unexpectedly hit a pause button on cutting interest rates as it gave more importance to prevailing inflation pressure and rising food prices over a worrying slowdown in the economy.
In October, the RBI's MPC stuck to its "accommodative stance" by reducing its key lending rate to 5.15 per cent, the lowest in around a decade. The record low repo was set at 4.75 per cent in April 2009 as a result of the global financial crisis.
Amid attack by the opposition over the state of the country's economy, BJP MP Nishikant Dubey said in the Lok Sabha on Monday that Gross Domestic Product (GDP) has no relevance and it should not be treated as 'Bible, Ramayan and Mahabharat'.
Former prime minister Manmohan Singh said on Friday the GDP growth rate of 4.5 per cent was unacceptable and worrisome, and urged his successor Narendra Modi to set aside "deep-rooted suspicion" of society and nurse India back to harmonious, mutually trustworthy society that can help the economy soar.
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