Indian Economy
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CAD for fiscal 2018 rises to 1.9 per cent on higher trade deficit
According to the central bank, CAD for the quarter ended March 2018 was at $13 bn (1.9 per cent of GDP) as against $2.6 bn (0.4 per cent) in Q4 of 2016 -17, but moderated marginally from $13.7 bn (2.1 per cent of GDP) in the preceding quarter.
India has only 10 years to be a developed nation: SBI study
The SBI report has said India has only one decade to change its status into a developed country and will need to focus on education, failing which the much-hailed ‘demographic dividend’ will turn into a disadvantage.
Chidambaram launches 10-point attack on Modi govt over economic policies
Talking about unemployment in the country, Chidambaram said, “So far, nobody has bought the innovative idea that ‘frying pakoras is also a job’.” He also added that demonetisation and GST have had an adverse impact on the Indian economy.
Measuring Economic Development: Data points undergo changes in 4 yrs
GDP growth rates for pre-2011-12 years, making it impossible to compare the new growth data with the growth during the UPA years.
Biggest outflow of foreign institutional money in 10 years
While the net FPI outflow in April stood at Rs 15,561 crore ($2.35 bn) and Rs 29,775 crore ($4.4 bn) in May, the aggregate for the first five months this year amounted to a net outflow of Rs 32,078 crore ($4.4 bn).
Purchasing Managers’ Index: Services sector shrinks for first time in three months
The Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 49.6 in May from April’s 51.4, sinking below the 50-mark that separates growth from contraction.
Provisional estimates: Good rabi crop, uptick in factory output lift GDP up to 7.7%
The country had recorded GDP growth of 7.1 per cent in the previous financial year (2016-17). Growth is projected to rebound to 7.5 per cent this year.
Moody’s cuts India’s growth forecast to 7.3 per cent from 7.5 per cent
G-20 countries will grow 3.3 per cent in 2018 and 3.2 per cent in 2019, the rating agency said.
Fourth quarter earnings: Consumer sectors push India Inc on recovery path
Elevated prices of metals, crude oil and other commodities have driven up revenues.
What the rupee’s fall means
Importers are hit, exporters have gained; foreign holidays and education abroad are costlier. With international crude prices rising and India’s trade deficit widening, the economy is badly impacted.
Nearly 150 million untapped retail credit borrowers in India, says Cibil study
The study calculated that approximately 220 million consumers meet the target age range — from 20 to 69 — and minimum income level, which is assumed as at least Rs 2,50,000 per year, to be attractive to lenders for retail credit products.
Four years of Modi government — Finance: Tax net widened; private funds still elusive
For FY18, the Gross Domestic Product (GDP) is estimated to grow at 6.6 per cent, as per the second advance estimate of the Central Statistics Office.
Fourth quarter earnings: India Inc getting back on track
The auto and FMCG staples packs seem to be back on track after the disruptions from demonetisation and GST.
April data: Wholesale inflation hits 4-month high on high fuel, food costs; CPI at 4.58 per cent
An unfavourable base effect also pushed WPI inflation higher. In the WPI data, inflation rate for food articles rose to 0.87% in April against deflation of 0.29% in last month.
Volume-based indicators: Higher growth in March raises hopes of strong FY19
Despite unfavourable base effect, indicators like CIL, auto outputs and consumption of petrol grew over 8 per cent in March.
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