Nomura analysts said the ‘real growth amplified by low deflators’ was also influenced by one-offs, including front-loaded government spending.
The CEA also added that the growth target for FY26 will be retained as of now between 6.3-6.8%, as the proposed GST reforms are likely to strengthen consumption.
India's strong economic fundamentals along with monetary, financial and political stability ringfence the economy from any external shocks.
India Q4 GDP: "We are now prepared to say that risks to our GDP growth forecast of 6.5 percent for 2023-24 are now more evenly balanced than a few months ago when downside risks to the forecast were greater," Chief Economic Adviser V Anantha Nageswaran said.
"In our view, the instrument of decoupling will be the Union Budget by raising India's growth prospects over the period 2023-27; and raising India's potential growth," said the article 'State of the Economy' published in the RBI's February 2023 Bulletin.
A day earlier, the Economic Survey released by the government estimated FY22 real gross domestic product (GDP) growth to be 9.2 percent, on par with the first advance estimates released by the Central Statistical Organisation recently.
For FY23, the country is projected to grow at around 8.1 percent, with the rate slightly brought down to 5.5 percent for 2024. This deterioration has been attributed to the enduring negative legacy of the pandemic on key parameters like investment in new machinery and more.
In the national context, the month of August is auspicious for more than one reason. In August 1958, the government recognized the Bombay Stock Exchange as the first bourse to come under the Securities Contracts (Regulation) Act.
Pinning hopes on better monsoon, the Finance Ministry on May 31 said it expects GDP growth rate to notch up to 8 percent in the current financial year
Country is likely to clock a GDP growth rate of 7.4 percent this fiscal and key legislations, like Aadhaar bill, bankruptcy code and Monetary Policy Committee are likely to support medium-term outlook, an HSBC report says
Congress today claimed in the Rajya Sabha that the "real opposition" to the long-pending GST bill was coming from within the government and that the main opposition was ready to give full support to it provided its three key recommendations are accepted.
India will remain one of the strongest growth stories in the Asia Pacific region as the country has a potential GDP growth rate of around 6-7 per cent or perhaps even more, global finances services major Goldman Sachs has said.
Today all eyes will be on the March WPI which according to CNBC-TV18 poll is expected at minus 2.07 percent.
Launching the Union Bank of India (UK), a subsidiary of the Union Bank of India, Jaitley on Friday said that since the new government came to power the economy has regained.
Speaking at the inauguration of a GE facility here, PM Modi said, "India is the fastest growing economy in the world with a GDP growth rate of 7.4 percent. "I assure you that in the field of development and giving employment, there are a lot of opportunities here in India."
After moving to a new method of calculating the country‘s gross domestic product (GDP), the government today said it expects economic output to grow at 7.4 percent this fiscal year (2014-15), compared to 6.9 percent in the previous year.
The average salary increments may also be higher in the range of 15-20 percent, as against 10-12 percent across various sectors during 2014. New-age sectors like e-commerce are likely to see relatively higher pay hikes.
Karvy Stock Broking has come out with its report on currency. For the day expect the USDINR pair to trade in a range of 63.00-62.60 levels, says the research firm.
Good monsoon, robust farm output and impact of reform measures undertaken by the government in past one year will help push growth.
BP Singh, ED & CIO - Equity, Pramerica MF says, yesterday's rally in our market reflects only a cyclical recovery and long-term uncertainties still continue to exist.
Bhuvnesh Singh, head of research at Barclays Capital says at Barclays they are overweight on healthcare stocks, some pharma stocks like Sun Lupin. They also like Cairn India and BPCL from the oil and gas sector.
Sharp decline in prices of gold and crude oil, coupled with softening inflation, augur well for the economy as it will help curb the Current Account Deficit, according to economists.
India has all the requirements to return to a GDP growth-rate of 8 percent in the coming years, deputy chairman of the Planning Commission Montek Singh Ahluwalia said, while highlighting that current account deficit is a big problem right now.
The government today said the production of passenger cars marginally declined by1 per cent year-on-year to 15.9 lakh in April-November 2012 due to factors including slow economic growth and high interest rates.
SPA Research has come out with its report on Credit Analysis and Research Ltd (CARE) IPO. The research firm has recommended investors to subscribe to the issue for listing gains as well as a good long term investment.