Reserve Bank of India staff have pegged India's GDP growth in Oct-Dec at 7.6%, keeping it 20 basis points above the central bank's official projection. They also lowered their forecast for the Jul-Sept GDP growth print from their earlier estimate by 10 basis points to 6.7%. This is 30 bps lower than the RBI's official projection.Register to read
The government is aware of the possible risks to India's GDP growth, both external and internal, but there is no cause for concern as high-frequency indicators show sustained economic momentum, Finance Minister Sitharaman said Monday. The minister's remark comes amid concerns of an economic slowdown, especially after the Reserve Bank of India cut its growth projection for Jul-Sept to 7.0% from an earlier estimate of 7.2%.Register to read
The exit polls on Wednesday hinted at an edge for the incumbent Mahayuti alliance consisting of the Bharatiya Janata Party, the Shiv Sena, and the Nationalist Congress Party in a tight contest for 288-member Maharashtra Assembly. The pollsters forecast 125 to 195 seats for the Mahayuti alliance. The Maha Vikas Aghadi alliance of the Congress, the Shiv Sena (Udhhav Balasaheb Thackeray) and the Nationalist Congress Party (Sharadchandra Pawar) would get 85 to 150 seats, the exit polls forecast.Register to read
It is premature to conclude that the slowdown in urban demand in the country is going to sustain or persist, Chief Economic Adviser to the Government V. Anantha Nageswaran said Tuesday. "Even if we don't have enough evidence to say that (slowdown) was extremely short-lived, certainly I will not be the one to make a pessimistic conclusion that the slowdown is something deeper," Nageswaran said at the 11th SBI Banking and Economics Conclave. Register to read
India and the UK will soon finalise the date for the next round of discussions on the proposed free trade agreement, expected to resume in early 2025, the commerce ministry said. Following a bilateral meeting with Prime Minister Narendra Modi on Tuesday, his UK counterpart Keir Starmer announced that the two nations would resume negotiations on the pact early next year.Register to read