UN downgrades Indias GDP growth forecast to 7.3% in 2017
The Dollar Business Bureau The United Nations (UN) has revised India’s GDP growth forecast downward for 2017 but projected an increase in 2018 predicting 7.9% economic growth as it warned that the banking sectors’ stressed balance sheets will have adverse impact on investments in the short-term. The UN World Economic Situation and Prospects (UNWESP) in its mid-2017 report, launched on Tuesday, said that India is predicted to achieve a growth of 7.3% this year, downward from its earlier forecast of 7.7%, which it made when the report was launched in January. However, the revised report forecast that the country will achieve a notable 7.9% GDP growth next year, from its earlier estimates of 7.6% made in the January report. The report, however, cautioned that stressed balance sheets of India’s banking sector, which has ...
GDP growth likely to slip to 6.7% in the March quarter: Nomura
The Dollar Business Bureau India's GDP growth is likely to slip to 6.7% in the January-March quarter from 7%, but could gradually recover to 7.7% in 2018, predicted the Japanese financial services major Nomura. The gradual recovery to 7.7% could happen due to higher consumption- as a result of state pay hikes, lower lending rates and remonetisation and public spending, the report stated. "In our view, the recovery in industrial production should gather momentum through 2017 supported by ongoing remonetisation, release of pent-up consumption demand, lower lending rates, higher public capex and impending pay hikes for state government employees." Making a mention of the after-effects of demonetisation, Nomura said that the soft industrial activity that was seen in February was due to the ...
Industrial production rises only 0.7% in Sept16 y-o-y
The Dollar Business Bureau Industrial output grew merely 0.7% in the month of September mostly due to the poor performance by mining and manufacturing sectors along with a drop in the output of capital goods. The factory production during the period April-September 2016-17 declined by 0.1% against the 4% growth in the same period a year-ago, according to the data released by Central Statistics Office (CSO) on Friday. In terms of Index of Industrial Production (IIP), factory production had recorded a growth of 3.7% in the month of September last year. The manufacturing sector, which forms 75% of the IIP index, witnessed a flat growth of 0.9% in the month of September against the 2.7% growth in the same month previous year. With regards to ...
Industrial output growth down to 0.1% in March
Source: PTI The performance of consumer goods segment was also dismal as it recorded a meagre growth of 0.4 per cent in March compared to a contraction of 0.6 per cent a year ago. During 2014-15, the output of these goods grew at 3 per cent compared to a decline in production by 3.5 per cent. However, consumer durables performed well and recorded a growth of 8.7 per cent in March this year compared to contraction of 4.6 per cent. During the entire fiscal, the output of these goods grew by 11.2 per cent compared a decline in production by 12.6 per cent. The consumer non-durable goods output contracted by 4.4 per cent in March compared to a growth of 1.9 per cent ...
Indias industrial production grew by 2.0% in February
The Dollar Business Bureau India’s industrial production index grew by 2.0% in February from a year ago, primarily driven by a cumulative growth of electricity, manufacturing and mining sectors production. “The General Index for the month of February 2016 stands at 184.6, which is 2.0% higher as compared to the level in the month of February 2015. The cumulative growth for the period April-February 2015-16 over the corresponding period of the previous year stands at 2.6%,” Ministry of Statistics & Programme Implementation said in its recent report. The indices of industrial output for the electricity, manufacturing and mining sectors stood at 181.9, 194.1 and 136.1 respectively, registering a corresponding growth rate of 9.6%, 0.7% and 5.0% in February this year against February last. Their ...
Industrial production down for second month in a row
Ten out of the 22 industry groups in the manufacturing sector saw negative growth in December 2015 as compared to the corresponding month of the previous year The Dollar Business Bureau Radio, TV and communication equipment and apparatus industry has registered the maximum growth of 82% during December 2015 Indias industrial output recorded a fall of 1.3% in December last year, continuing the downward trend from November when the production had declined by 3.2% year-on-year. The Index of Industrial Production (IIP) for December 2015 stands at 183.4, lower than the level of 166.6 registered during the previous month. Cumulative growth during April-December was also 3.1% , down from April-November figure of 3.9%. Ten out of the 22 industry groups in the manufacturing sector have ...
Indias industrial output up 4.8% during April-Oct
The Dollar Business Bureau To improve ease of doing business, the government has set up an investor facilitation cell, e-biz mission mode project and liberalised policy for industrial license for defence industries India’s industrial growth, measured in terms of Index of Industrial Production (IIP), increased by 4.8% during April-October this year, according to the Ministry of Commerce and Industry. The three industrial sectors i.e. mining, manufacturing and electricity registered a positive growth of 2%, 5.1 % and 5.2 % respectively during the period. Commerce Minister Nirmala Sitharaman on Monday highlighted the government’s already-implemented initiatives and future plans for boosting the country’s industrial growth. “The government is implementing various schemes and programmes and is taking measures for boosting industrial growth of respective ...
Indias industrial output grows at 6.4% in August
The Dollar Business Bureau India’s industrial output grew at 6.4% during August this year, riding high on a considerable growth in mining, manufacturing and electricity sectors. During August this year, indices of industrial production for these three sectors stood at 119.4, 185.3 and 194.4 respectively, cloaking corresponding growth rates of 3.8%, 6.9% and 5.6% over August last year. “The cumulative growth in the three sectors during April-August 2015-16 over the corresponding period of 2014-15 has been 1.2%, 4.6% and 3.2% respectively,” said Ministry of Statistics & Programme Implementation in a statement. Industrial production grew at 4.1% during April-August 2015-16 over the same period last year. FICCI Secretary General A Didar Singh attributed its growth to the country’s strong manufacturing sector and ...
