Indicators
India to become USD 4 trillion economy in FY25: Sanjeev Sanyal
New Delhi, India is forecasted to achieve a USD 4 trillion economy by 2024-25, surpassing Japan to become the world's fourth largest economy, according to Economic Advisory Council to the Prime Minister member Sanjeev Sanyal. Finance Minister Nirmala Sitharaman mentioned India's potential to surpass Japan and Germany to become the third-largest economy by 2027, cautioning against hasty fiscal moves.
India's unemployment rate dips to 6.7% in March quarter
The National Sample Survey (NSSO) revealed that the unemployment rate in urban areas for individuals aged 15 years and above decreased slightly to 6.7% in the January-March period from 6.8% a year earlier. The Periodic Labour Force Survey (PLFS) indicated that unemployment rates for both males and females experienced fluctuations over the quarters.
Urban unemployment drops slightly to 6.7% in Q4FY24; female labour force participation rises further
Urban unemployment slightly decreased to 6.7% in Q4 FY24 from 6.8% in the same period last year. However, it rose sequentially from 6.5% in the previous quarter, attributed to layoffs in sectors like IT, telecom, and startups. Female unemployment improved slightly, while male unemployment increased. Self-employment rose, but regular wage employment remained low.
Indian economy projected to expand at 6.6% in FY25, says Moody's
The agency highlighted that strong credit demand, fueled by robust economic growth, will bolster the profitability of the Non-Banking Financial Company (NBFC) sector.
Food inflation likely to remain a cause for concern due to heatwave: ICRA
ICRA Chief Economist Aditi Nayar analyzes impact of heatwaves on food inflation, emphasizing monsoon's role. Divergence in wholesale and retail inflation explained by global factors and index composition
Wholesale inflation rises to a 13-month high of 1.3% in April
Wholesale inflation hits a 13-month high of 1.26% in April, up from 0.53% in March, driven by food and fuel prices. Food articles see a significant rise, with double-digit inflation in rice, pulses, and vegetables. Rising crude prices contribute to fuel inflation. Experts predict continued inflation due to base effect and geopolitical tensions.
Wholesale inflation in April quickens to 13-month high of 1.26% on spikes in power, food prices
India's wholesale price index-based inflation accelerated to 1.26 per cent in April, a 13-month high, according to data from the Commerce Ministry. The increase was attributed to a major shortage in onion supply until the next kharif crop, which is expected to be a reversal from the current scenario. Potato WPI also accelerated by 71.97 per cent in April, compared to 52.96 per cent in March. The month-over-month change in WPI index for April 2024 stood at 1.26 per cent. Wholesale food inflation also increased to 5.52 per cent on an annual basis, while food inflation grew 1.94 per cent on a MoM basis.
Over 514 million jobs created during 2014-2024
The report is based on 80 case studies covering borrowers who took multiple loans and data of various government schemes.
Inflation eases further to an 11-month low of 4.83% in April, despite higher food inflation
India's inflation decreased to a low of 4.83% in April, which is the lowest in 11 months, compared to 4.85% in the previous month, due to a slight increase in food inflation caused by high vegetable and pulses prices.
India's retail inflation eases marginally to 11-month low of 4.83 per cent in April
In April, India's retail inflation slightly decreased to 4.83 percent annually from 4.85 percent the previous month, as per government data released on Monday. According to a Reuters poll of 44 economists, the estimated figure was 4.80 percent.
Must Watch
India needs to focus on factor market reforms to propel growth to double digit: ADB Chief Economist
Labour reforms have been approved by Parliament in 2020, but it has not been implemented. In 2019 and 2020, 29 central labour laws were amalgamated, rationalised and simplified into four labour codes -- the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health & Working Conditions Code, 2020.
Strong growth likely in FY25; pvt investment picking up, says Sanjay Nayar
In an interview to ET, Nayar called on the government to maintain its capital expenditure push for some more time to "crowd in" private investment. Rural consumption has started to see an uptick, on top of the already strong urban demand, he said. Capacity utilisation has gone up to 75% or so, which indicates companies would go for fresh capacity expansion.
Pvt sector capex likely to expand amid expectations of high growth: Experts
CII's business confidence index touched a 12-quarter high in Q4FY24, with 51% of firms expecting capacity utilisation of 75% and above. Moreover, 71% expect an improvement in private capex in the first half of FY25 compared with the second half of FY24.
India all set to overtake Japan as 4th largest economy by 2025, predicts Amitabh Kant
The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022. Just a decade ago, Indian GDP was the eleventh largest in the world. Currently, India's GDP is estimated to be around USD 3.7 trillion.
Large PSUs' capital expenditure reaches ₹50,200 crore in April FY25, slower growth than previous year
Large public sector companies in India spent over Rs 50,200 crore on capital expenditure in April FY25, 6.46% of the annual target of Rs 7.77 lakh crore. Spending was lower than in April FY24. The Finance Ministry expects spending to increase. Railways, roads, and oil and gas sectors drove the expenditure.
IIP growth eases to 4.9% in March but grows faster at 5.8% in FY24
Among the three major industries, manufacturing and electricity recorded a faster pace of growth in March compared with the previous month, expanding 5.2% and 8.6% compared with 4.9% and 7.5% in February. On the other hand, mining activity eased sharply to 1.2% from 8.1% in the previous month.
