India’s real GDP growth in the second quarter of FY24 may have exceeded the 6.5% growth rate the Reserve Bank of India (RBI) had predicted. The forecasts vary from 6.2% to as high as 6.9%, while the majority have updated their projections upward. Economists cite sequentially higher government consumption spending and relatively strong consumption demand…
According to the International Monetary Fund (IMF) and its most recent Regional Economic Outlook (Asia and Pacific) report, India and China are expected to collectively provide over half of global growth in both 2023 and 2024. China’s GDP is expected to develop at a rate of 4.2% in 2024 and 5% in 2023, while India’s…
Economists claim that the US Federal Reserve has left the door open for one more rate hike before the end of the year after voting unanimously to maintain its benchmark interest rates at 5.25-5.50%. Despite sustained US inflation rates above the central bank’s target range while the US economy remains robust, the US Fed increased…
According to Ashima Goyal, a member of the RBI’s Monetary Policy Committee (MPC), the Indian economy has begun to perform well despite the unfavorable global environment since the Modi-led administration has carried out numerous reforms over the past nine years that have improved important macroeconomic indices. Goyal argued that it is foolish to extrapolate too…
India’s economy is anticipated to do well in its most recent assessment due to robust growth in the services sector and an uptick in manufacturing despite high-interest rates. According to the consensus estimate in a Bloomberg survey conducted before the release of the data on Thursday, the gross domestic product increased by 7.8% over the…
In response to statements of intervention by the central bank and inflows of foreign capital, the rupee defied a four-week downturn by rising by more than half a percentage point. However, in light of rising food prices and unequal rainfall distribution that call for vigilant monitoring, the RBI’s minutes sounded hawkish. While local benchmark indices…
According to a projection, a large increase in domestic travel and foreign arrivals will lead the Indian hotel industry’s direct contribution to the GDP to reach USD 1 trillion by 2047. The Hotel Association of India (HAI) and Benori Knowledge released a report titled “Vision 2047: Indian Hotel Industry” that estimates the direct GDP contribution…
Yesterday, the price of gold decreased by -0.67% to settle at 58290 as the 10-year Treasury yield rose to its highest level in 10 months on concerns that U.S. interest rates may continue to rise in the future, which was fueled in part by China’s economic difficulties. The Fed’s minutes revealed that policymakers were split…
In response to encouraging macroeconomic statistics, the rupee rose by 33 paise to settle at 82.42 (provisional) against the US dollar on Thursday. Against the US dollar, the local unit traded in the interbank foreign exchange market with an opening price of 82.54 and ended the day at 82.42 (provisional), up 33 paise from the…
India’s economic growth most likely matched government predictions because demand sparked an expansion in the services sector and mitigated the effects of high borrowing rates. According to the consensus estimate in a Bloomberg survey, which is in line with a government forecast given three months ago, data due on Wednesday is anticipated to reveal that…
