Lockdown

Sept quarter GDP numbers in line with expectations, says Chief Economic Advisor
IANS -
Commenting on price rise, the CEA said that retail inflation may have peaked and is likely to ease in the coming months. "Real GDP growth at 6.3 per cent in the second quarter of the current fiscal is in line with expectations. The Indian economy has continued on the recovery path from the pandemic. It is growing despite global monetary tightening," Nageswaran said.
GDP growth halved to 6.3% in September quarter of current fiscal
IANS -
The GDP had expanded by 8.4 per cent in September quarter of 2021-22, according to data released by the National Statistical Office (NSO). The Reserve Bank of India bulletin had projected that GDP growth would be estimated at 6.1 to 6.3 per cent in the September quarter of the current fiscal.
Credit growth likely to remain robust
IANS -
Strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. However, it will put pressure on Core Equity Tier 1 ratios (CET1) should credit growth exceed Fitch's expectations, limiting buffers to absorb potential future losses.
'Achieving $5trillion economy target possible only by 2030'
IANS -
The banks' officials are learnt to have told the Parliamentary panel that around 10 per cent GDP growth is needed to achieve the $5 trillion dollar economy target before 2030. However considering the prevailing global economic situation, this growth rate does not look possible, the banks' officials are learnt to have said.
India has conditions in place for an economic boom: Report
IANS -
These drivers will make it the world's third-largest economy and stock market before the end of the decade, Morgan Stanley said in a report titled, "The New India: Why This Is India's Decade". India's GDP is likely to surpass $7.5 trillion by 2031, more than double current levels, making it the third-largest economy and adding about$500 billion per annum on an incremental basis over the decade, the report said.
Slow recovery of low income households slowed down India's economic recovery
IANS -
The major economic parameters reveal slow post-pandemic recovery, with gross domestic product (GDP), goods and services tax (GST) collections, electricity demand, credit growth and auto sales growing somewhat slowly as against the expectations. Kotak Securities attribute the weaker-than-expected recovery to the slow 'repair' in the income of low-income households.
Hardly a corrective: Caps on outbound shipments will only lead to drop in exports
IANS -
A cautious government, mindful of the looming threat that current account deficit may reach 3 per cent of the GDP, had recently taken some measures through the Reserve Bank of India (RBI) to bring it down. Experts, however, feel that unless exports don't rise and import dependency does not come down, the Indian rupee's depreciation will continue and inflation will shoot up.
MSMEs can contribute big to India's GDP, say experts
IANS -
Addressing a conclave on "Fin-Tech and Credit Expo 2022 - Connecting Finance to Business", Riddhi Gupta, Head of Strategy and Alliances, Invoicemart, said that MSMEs have a significant role at the centre of the vibrant Indian economic landscape. "There is a lot of opportunity to ensure that MSMEs grow into an even more powerful engine. Contribution of MSMEs to GDP is still lower than that in countries like the US or China," she said.
Indian macros appear to be relatively stable despite headwinds: George Thomas
IANS -
Though the GDP growth was below estimates, a revival in domestic demand was visible in strong growth in private consumption (59.9 per cent of GDP) at 9.1 per cent compared to the pre-pandemic level (Q1, FY20). Gross Fixed Capital Formation (34.7 per cent of GDP) recorded a growth of 3.6 per cent in the same period.
India's external debt rose 8.2% in 2021-22 to $620 billion
IANS -
Out of this, 53.2 per cent of external debt was denominated in US dollars, the Indian rupee denominated debt was estimated at 31.2 per cent and was the second largest, according to the status report on India's external debt 2021-22, released by the Finance Ministry on Monday.
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