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India Ratings revises up India's FY24 GDP growth estimate to 6.7%

Earlier in October, India Ratings and Research had revised its projection for India's GDP growth for FY24 to 6.2% from 5.9% projected earlier.

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India Ratings raises India's FY24 GDP growth estimate to 6.7%

Earlier in October, India Ratings had raised its projection for the country's GDP growth in FY24 to 6.2% from 5.9%

India , Goldman-sachs , International-monetary-fund , Morgan-stanley , Fitch-group , India-ratings , Reserve-bank , Gdp , Growth , Merchandise-exports , Indias-exports

India Ratings and Research | Fiscal deficit likely to exceed target due to spending in employment guarantee scheme, subsidies

In the first supplementary demand for grants, the Centre will spend more on prioritised sectors such as food, fertiliser and LPG subsidies and the Mahatma Gandhi National Rural Employment Guarantee Scheme

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fiscal deficit: Fiscal deficit at 6% to exceed government target in FY24: Ind-Ra

The government recently brought in one supplementary demand for grant of Rs 58,380 crore to cover higher spending on fertiliser subsidy and Mahatma Gandhi National Rural Employment Guarantee Programme.

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Credit profiles of mid-sized cos hit as revenues fall

Indian companies have been witnessing an improvement in credit profiles as low interest rates since 2020 lowered cost of funds and improved profitability. But that has changed since. In the past year, interest rates have soared and inflation has eaten into profit margins.

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India Ratings hikes FY24 growth forecast to 6.2%, but sounds consumption warning

According to economists from India Ratings, there is a disconnect between the headline and underlying consumption data, with a clear K-shaped demand making it unlikely that the current overall trend will continue for long

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Commercial papers, certificate of deposits are back in vogue

With the Reserve Bank of India (RBI) mandating banks to maintain an incremental CRR of 110% of net demand and time liabilities NDTL, and the resulting squeeze on liquidity, CD issues once again increased. Moreover, deposit growth at 13.2 percent is still lagging the credit growth, which was 14.2 percent as of end August. Deposits rose at a rapid space only when the Rs 2,000 notes were recalled. But they started slowing again after the majority of such notes was returned to banks.

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fruit prices: High fruit prices may push up food inflation further

Fruit prices in India, which contributed to 0.3% of food inflation in FY23, are set to increase this year. The late arrival of monsoon and heavy rains have impacted crop production, leading to higher prices. Apples, which account for a quarter of fruit consumption in India, were 15% more expensive in August than in May. Fruit inflation is expected to rise in the latter half of the year, despite a high base effect expected to keep inflation low.

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Vulnerability of agriculture to monsoon shock has reduced: India Ratings

According to India Ratings, at the all-India level, the area under irrigation was 54.32 per cent in 2018-19 (FY19) compared with 41.7 per cent in 1996-97. As a result, the correlation between the kharif foodgrain output and monsoon rains from June till September was 0.4 over FY13-FY21 compared with 0.6 and 0.8 during FY97-FY04 and FY05-FY12, respectively.

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Ind-Ra assigns 'IND A' ratings with stable outlook on Shakti Pumps

The rating demonstrates the company’s focus on balance-sheet growth. Going forward, the company aims to maintain its 30-40% of the market share of the KUSUM scheme while further optimising operations

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