"Our BofAML liquidity model forecasts that loan growth will pick up to 15 per cent from 9.1 per cent in 2016-17 as the demonetisation shock works itself out," BofAML said in a note.
The CEO also said that Prime Minister Narendra Modi is more focused on outcome-based monitoring of government schemes. Underlining the importance of technology, Kant said the government's thrust is on Direct Benefit Transfer (DBT) but it is not achievable without technology.
In its latest Global Economic Outlook (GEO), Fitch said Indian GDP growth slowed "significantly" to 6.1 per cent in first quarter of 2017 from 7 per cent in October-December. This was the slowest pace since fourth quarter of 2013-14.
The Japanese financial services major Nomura has revised India's 2017 CAD forecast to 1.4 per cent of GDP from 1.6 per cent earlier, but still expects current account deficit to be higher than the 2016 figure.
The BOJ raised its economic assessment. It increased its real gross domestic product (GDP) growth forecast for the 2017-18 fiscal year to 1.6 percent from the 1.5 percent projected in January. But it lowered its core consumer price index (CPI) growth forecast to 1.4 percent from 1.5 percent in the same period.
"The economy has witnessed a steep decline due to the demonetisation. When the UPA government left the office, the GDP growth was 6.7 per cent which has now declined to five percent," Hariprasad said at a press conference here.
The fundamentals of Indian markets has improved considerably from 2000.
"Growth numbers were marked down marginally but still remain higher than ours," HSBC said in a research note. It further said, "we have a below-consensus view that growth will be flat at 7.1 per cent in 2017-18".
The firms like SAIL and Tata Steel are expected to drive the steel output growth, according to the report by BMI Research, a Fitch group company.
The financial major said that the short-term impact of Goods and Services Tax (GST) disruption will help India see better growth in the second quarter.
The Central Statistics Office (CSO) has pegged the growth of real gross value added (GVA) for 2016-17 at 6.6 per cent, 0.1 percentage point lower than the second advance estimates released in February 2017.
Risks to inflation amid uncertainty around the impact of GST implementation and monsoon with low credit demand, is likely to keep key policy rate or repo rate unchanged at 6.25 percent.
India Inc is also pitching for a rate cut to boost GDP growth that fell to 7.1 per cent in 2016-17 from 8 per cent in the previous fiscal.
The index first hit 9,600 on May 26 intraday and then it was just one-way rally since then. The index surpassed mount 9,700 for the first time on Tuesday, to hit its fresh record high of 9,709.30.f
"GST is India's biggest tax reform since 1947...GST will help India in achieving 9 per cent growth rate," Kant said at an event here. Noting that the implementation of GST is a dream of Prime Minister Narendra Modi, the NITI Aayog CEO said it will bring a big revolution in India's taxation structure.
Chetan Ahya of Morgan Stanley expects GDP growth to accelerate to 7.9 percent by December 2017.
This covers bank loans to farmers with up to 5 acres of land. The report said the Ministry of Finance will have to fund farm loan waivers by UDAY-type bonds to limit market impact. On Saturday, the Maharashtra government waived loans of Rs 300 billion/0.2 per cent of GDP owed by farmers with up to 5 acres of land by October.
The meeting was attended by Finance Minister Arun Jaitley, Revenue Secretary Hasmukh Adhia and senior officers from the Central Board of Excise and Customs (CBEC).
Even as the World Bank has revised India's growth figures by 0.4 percentage points as compared to its January forecast, India remains the fastest growing major economy in the world, the World Bank officials said.
According to the Japanese financial services major, the Reserve Bank is expected to stay on hold till March 2018 and thereafter go for a cumulative 50 bps rate hike starting in April 2018.
According to the global financial services major, the GDP growth momentum is slowing since mid-2016 and this trend is expected to continue going forward.
GST will provide data from the point of production to the point of sale because all these would be captured properly under the new indirect tax regime, he said.
Calling it a "self-goal" by the government of Prime Minister Narendra Modi, Global Times hoped India will not score any more "own goals" in the future as it continues with its reform efforts.
The statement comes amid the country losing the fastest growing major economy tag to China with its GDP growth rate slipping to 6.1 per cent in the January-March quarter of last fiscal. China, in contrast, recorded 6.9 per cent growth during the quarter.
CAT said that the target 175 GW of renewable power capacity of current policies can be reached by 2022. India is already set to over achieve its 2030 Nationally Determined Contribution (NDC) emissions target. The likely continued expansion of renewables after 2022, for which no targets have yet been set, would result in India also overshooting the 2030 non-fossil capacity target set in its NDC.