MAY 2018-ECONOMY NEWS |
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CII pegs India’s growth between 7.3-7.7%
Industry chambers Confederation of Indian Industry (CII) expects India’s economy to grow at 7.3-7.7 percent in 2018-19 on the back of “sustained structural reforms”, recovery in global markets and a normal monsoon.
India’s Q4 GDP growth likely at 7.4 percent: ICRA Report
Rating agency ICRA Ltd expects gross domestic product (GDP) growth in the fourth quarter of the fiscal 2017-18 at 7.4% on account of good Rabi crop harvest and improved corporate earnings, up from 7.2% in the third quarter.
WPI inflation rises to 3.18 % in April
According to government data, Inflation based on wholesale prices shot up to 3.18 percent in April on increasing prices of petrol and diesel as well as fruits and vegetables.
The Wholesale Price Index (WPI) based inflation stood at 2.47 per cent in March and 3.85 per cent in April last year.
India’s economy is projected to grow 7.6% in 2018-19: UN WESP
According to UN World Economic Situation and Prospects (WESP), India’s economy is projected to grow 7.6% in fiscal year 2018-19, making it fastest growing economy in the world.
GDP growth in India is expected 7.5 and 7.6% in fiscal years 2017-18 and 2018-19 respectively.
India to clock GDP growth of 7.7%
India’s GDP is expected to grow by 7.7% in January-March, up from 7.2% in the preceding quarter, says a Nomura report.
According to the report, despite the moderation in March, industrial production growth averaged 6.2% in the January-March period.
Fitch predicts 7.3% growth rate of India in 2018-19
Credit rating agency Fitch has stated that India’s economic growth will accelerate to 7.3% in the current financial year (2018-19) and 7.5% in the next fiscal (2019-20).
India fastest growing economy at 7.4% in 2018: IMF
The International Monetary Fund (IMF) reaffirmed that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4% that rises to 7.8% in 2019 with medium-term prospects remaining positive, according to the IMF’s Asia and Pacific Regional Economic Outlook report.
India topped list of fastest growing economies
India tops the list of the fastest growing economies in the world for the coming decade and is projected to grow at 7.9% annually, ahead of China & US, According to a Harvard University report.
California surpasses UK to become World’s 5th largest economy
US state California’s economy has surpassed that of the UK to become the world’s fifth largest, according to new federal data released.
With a GDP of $2.7 trillion, California is now only behind the US, China, Japan and Germany.
The UK and India are next on the list, followed by France, Brazil and Italy respectively.
India’s economy likely to grow at 7.3% this fiscal: Report
According to a BMI Research, a Fitch group company, the economic growth in India is expected to strengthen to 7.3% in financial year 2018-19 from 6.6 per cent in fiscal 2017-18, on the back of robust activity from construction, manufacturing, and services sectors.
Core sector growth slows to 4.1% in March 2018
According to index of eight core industries released by Ministry of Commerce and Industry, core sector growth in March 2018 slowed to 4.1%, a three-month low due to weak performance in six sectors.
Cumulatively, the eight core sectors grew 4.2% in 2017-18.
The growth was 4.8% in the previous fiscal.
The previous low was 3.8% in December 2017.
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