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The current account, reflecting the difference between domestic savings and investments, has seen a significant reduction in India since the taper tantrum, falling from 4.8% of GDP in FY13 to an average deficit of 1.1% per annum from FY14 to FY21. This reduction is attributed to a decrease in investment as a percentage of GDP, outweighing the decline in overall domestic savings.
India is on the path to its next industrial revolution, Industry 4.0, as per analysts at Anand Rathi Share and Stock Brokers.Multi-nationals are either ramping up capacity or setting up plants to transform India into another export hub for ...
In Q3FY24, the Indian economy outperformed expectations, growing at 8.4%, surpassing the predicted 6.6% rate. However, a significant divergence between GDP and Gross Value Added (GVA) raised concerns, with GVA growth at 6.5%. Economists caution that the high GDP may not reflect balanced growth, citing a decline in agriculture, uneven private consumption, and increased reliance on public capex.
The Indian economy is expected to grow at a rate of 7.3% in the fiscal year 2023-24, surpassing earlier forecasts by the IMF, RBI, and research firms. The growth is driven by government investment and spending, making India the world's fastest-growing major economy. However, concerns remain about the low private consumption growth and the tepid nominal GDP growth, which could impact tax collections and fiscal deficit. The sector-wise breakdown shows an increase in manufacturing, while agriculture and trade sectors have seen a decline in economic momentum. | Latest News India
Gross Fixed Capital Formation (GFCF) or capital expenditure by the government was up by nearly a third between April and November but the full year expansion in this is pegged at 10.3 per cent, indicating a significant slowdown post November