Dr. BABU VENKATESH SUNDARAM’s Post

𝗙𝗶𝘁𝗰𝗵 𝗥𝗮𝘁𝗶𝗻𝗴𝘀 𝗥𝗮𝗶𝘀𝗲𝘀 𝗜𝗻𝗱𝗶𝗮'𝘀 𝟮𝟬𝟮𝟰/𝟮𝟱 𝗚𝗗𝗣 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝘁𝗼 𝟳.𝟮% Fitch Ratings has revised India's GDP growth forecast for the 2024/25 fiscal year to 7.2%, up from 7.0%. This adjustment is based on strong consumer confidence and sustained investment, although the Reserve Bank of India is expected to implement only a single 25-basis-point rate cut. Globally, Fitch increased its 2024 growth forecast to 2.6%, citing improved European recovery, China's export revival, and robust demand in emerging markets. #finance #news #India #GDPGrowth #EconomicForecast #FitchRatings Source:- https://lnkd.in/gkKy-wBh

Earlier this month, the World Bank and International Monetary Fund (IMF) increased their growth forecasts for the Indian economy to 7% in 2024 from 6.6% previously. At a time when growth concerns are prevalent across many global economies, there is a strong consensus that India will continue to see further growth in the years to come: https://bit.ly/4dp2Lnf

Statement: Q3FY24 Let me start with a brief description of the present global and domestic economic scenario. Global economy is projected to grow at the rate of 3.1% in ‘24 and 3.2% in ‘2025 owing to greater than expected resilience in the U.S. and several other emerging economies. While global economy is showing resilience, the projected growth is still below the historical average of 3.8% for the 20 years starting from ‘2000. Let see INDIA :- IMF has recently updated India's GDP outlook growth for the year ‘2024 to 6.7% from 6.3% earlier underpinning the growth potential of the Indian economy. While recognizing the global risk and the volatility in financial market, the real GDP growth is expected to be 7.3% in FY24. Interim budget has estimated the nominal GDP growth of 10.5% for the year ’25 Statement: Q3FY24 Mr. Dinesh Khara – Chairman, State Bank of India

Why did Asian Development Bank (ADB) first downgraded India's GDP Forecast to 6.7% and then upgraded it to 7% ? ADB downgrade could have been prompted by factors like slowing growth, fiscal deficits, or inflationary pressures, affecting India's economic prospects. Later ADB noted that Indian Economy grew remarkably in FY23, with strong momentum in manufacturing & services. Further growth in upcoming time will be driven by increase in consumption, which means inflation will continue its downward trend in tandem with global trends as per ADB. Also, exports are likely to be relatively muted in current FY due to slowing growth in major advanced economies, but may improve in FY24-25. Note: GDP forecasts are subject to revisions based on changing economic circumstances and evolving policy environments.

India's economy surges to 7% growth, now ranking 5th globally, with a total GDP of $3,942 billion as per IMF Report for Q1 2024. Overtaking the United Kingdom, we stand strong alongside global giants like the USA, China, Germany, and Japan. For more such financial information, don't forget to follow INDIE by IndusInd Bank! #IndiaProgressReport #IndependenceDay #IndieByIndusIndBank

India remains the world’s largest-growing economy, with the IMF projecting a growth rate of 7% in FY24-25! This surge is driven by robust rural consumption recovery, transformative digital initiatives, and strategic policy reforms. With inflation expected to normalise and massive infrastructure investments underway, India’s growth is shaping the global economic landscape. 🚀 #IndiaEconomy #EconomicGrowth #RuralRecovery #DigitalTransformation #PolicyReforms #Infrastructure #GlobalEconomy #IMF #Growth #TBA #TheBusinessAchiever Read more 👇 https://lnkd.in/g-F6JBvN

Very pleased to learn the International Monetary Fund raised India's growth forecast to 7% from the earlier 6.8% due to improving private consumption, particularly in rural India, whilst the IMF left unchanged its estimate for a 6.5% growth in Asia's third largest economy's #gdp in the 2025-26 financial year. #indiainc #growth #progress #economy #economicactivity

Among the domestic updates, India's real GDP growth was recorded at 8.2% for FY24 surpassing expectations driven by government spending, resilient consumer demand, and vibrant manufacturing activity. On the other hand, the Asian Development Bank is said to have pledged US$2.6 billion in sovereign loans to India in 2023 to support urban development, industrial corridors, and other projects. Among the global updates, consumer confidence in the US improved in May after three straight months of declines. Check for more global and local updates in our latest weekly roundup, 𝙏𝙝𝙚 𝙒𝙚𝙚𝙠 𝙏𝙝𝙖𝙩 𝙒𝙖𝙨. #onwardsandupwards #macroeconomy #economicindicators #roundup #takeaways #economics #capitalmarket #bonds #inflation #bondyield #financialservices #data #growth

Strong public investment supported by resilient domestic demand has made India the Fastest Growing Major Economy according to International Monetary Fund which projected a 30 basis points rise in India’s GDP growth to 6.8 percent in FY 25 in its World Economic Outlook Ministry of Commerce and Industry, Government of India Reserve Bank of India (RBI)

Among the domestic updates, India's real GDP growth was recorded at 8.2% for FY24 surpassing expectations driven by government spending, resilient consumer demand, and vibrant manufacturing activity. On the other hand, the Asian Development Bank is said to have pledged US$2.6 billion in sovereign loans to India in 2023 to support urban development, industrial corridors, and other projects. Among the global updates, consumer confidence in the US improved in May after three straight months of declines. Check for more global and local updates in our latest weekly roundup, 𝙏𝙝𝙚 𝙒𝙚𝙚𝙠 𝙏𝙝𝙖𝙩 𝙒𝙖𝙨. #onwardsandupwards #macroeconomy #economicindicators #roundup #takeaways #economics #capitalmarket #bonds #inflation #bondyield #financialservices #data #growth