AUGUST 2018-ECONOMY NEWS |
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India’s economic growth rate to grow at 7.4% in 2018-19
The Reserve Bank of India has released its annual report in Mumbai.
It was mentioned in the report that due to the evolving economic conditions, real GDP growth for 2018-19 is expected to increase to 7.4% from 6.7% in the previous year.
India to grow at 7.5% in 2018, 2019: Moody’s Report
The Indian economy is expected to grow by around 7.5% in 2018 and 2019 as it is largely resilient to external pressures like those from higher oil prices, according to Moody’s Investors Service.
Moody’s put G-20 growth at 3.3% in 2018 and 3.1% in 2019.
The advanced economies will grow 2.3% in 2018 and 2% in 2019, while G-20 emerging markets will remain the growth drivers at 5.1% in both 2018 and 2019.
Indian economy clocked double digit growth in 2006-07
The new estimates released by a government constituted committee suggest that GDP growth in the period 2004-05 to 2011-12 may have been higher than reckoned earlier.
According to the report, the growth of the Indian economy is 0.3 to 0.5 percentage points higher for each year.
India Ratings decreases growth forecast to 7.2% from 7.4% for FY19
India Ratings and Research (Ind-Ra) has revised down its FY19 economic growth forecast to 7.2% from 7.4% earlier.
India now world’s 6th largest economy
Addressing the nation on the 72nd Independence Day, PM Narendra Modi said, ‘India has registered its name as the sixth largest economy in the world.
Rupee for first time hit historic low of Rs. 70 mark against US dollar
Indian rupee for first time in history plunged to record low of Rs. 70.07 against US dollar.
However, it recovered later at around Rs. 69.84 after heavy intervention by Reserve Bank of India (RBI).
India’s GDP growth to rise to 7.5% this fiscal
India’s economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report.
The growth recovery will remain robust, supported initially by consumption and exports.
India’s Q1 fiscal deficit at 68.7%
The government of India reported a fiscal deficit of Rs. 4.29 trillion ($62.57 billion) for April-June, or 68.7% of the budgeted target for the current fiscal year 2018-19 compared with 80.8% a year ago.
GDP predicted to 7.2% in second half of 2018: Nomura
According to Nomura , GDP growth to peak to 7.8% in April-June quarter and then moderate to 7.2 per cent in the second half of 2018.
The GDP growth was at 7.7 per cent in January-March quarter 2018.
RIL reclaims its top slot
Reliance Industries Ltd. (RIL) regained its status as the country’s most valued firm by market capitalisation (m-cap).
It replaced Tata Group’s Tata Consultancy Services (TCS) from the top slot.
Reliance Industries had crossed the $100-billion market capitalisation mark.
The m-cap figure of companies changes daily with stock price movement.
UN E-Government Index: India ranks 96th, Denmark tops
India has jumped 22 places to 96th rank to break into the top 100 of the United Nation’s E-Government Development Index (EGDI) 2018.
Denmark, with an index value of 0.9150, topped the 2018 E-Government Development Survey.
The E-Government survey is released by the United Nations in every two years.
The 2018 edition was titled as ‘Gearing E-Government to Support Transformation towards sustainable and resilient societies’.
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