India is beginning to look like any other emerging economy, with a tame central bank and a profligate govt.
During the April-October period, industrial output grew 5.6 per cent as compared to 2.5 per cent in the same period of the previous fiscal.
In the year-ago period (November 2017), it was at 4.88 per cent.
Retail inflation for November has fallen to a sixteenth month low of 2.33 per cent against 3.31 per cent in October on back of low food an fuel prices. IIP for October has risen to 8.1% from 4.5 % of September with the boost provided by infrastructure projects.
Retail inflation has stayed below RBI’s medium-term target of 4% for the fourth straight month.
India is ranked ranked the 58th among 140 countries, which is five places up over 2017.
India is maintaining growth momentum on rebounding exports and higher industrial and agricultural output, ADB said in its Asian Development Bank Outlook Supplement.
Things don’t have to be so bleak, but the twin blows to Modi have surely raised populism risk.
The 46-year-old economist, who will assume the office in January, is the second Indian to be appointed to the role of chief economist after Raghuram Rajan.
Budget estimate of revenue collection from GST seems to be unreasonable, Arvind Subramanian said.
The CAD, or the difference between outflow and inflow of foreign exchange in the country's current account, was USD 19.1 billion during the quarter ended September 30, 2018.
"These are significant impacts and yet could be underestimated given that penetration of internet is still below international levels," report added.
Fitch Ratings Thursday slashed India's GDP growth forecast to 7.2 per cent for current fiscal, from 7.8 per cent projected in September, citing higher financing cost and reduced credit availability. In its Global Economic Outlook released Thursday, Fitch estimated India's GDP growth to be 7 per cent and 7.1 per cent in financial years 2019-20 and 2020-21 respectively.
The rating agency also forecast the value of rupee to further depreciate to Rs 75 to a dollar by the end of 2019.
All of the top 10 cities for economic growth over the next two decades will be in India.
This will offer some relief to Asia's third-largest economy, which last week reported slower economic growth in the July-September quarter