Indian Economy: News and Discussion

[Marliii]

India's economic growth expected to slip below 7% in Oct-Dec quarter

India's Q3 economic growth slipped below 7% due to weak manufacturing sector and mixed consumption growth. Despite slower growth, India is expected to be one of the fastest-growing economies with estimated growth of 7.3% in the current fiscal year.

m.economictimes.com

Aged Like fine wine

 

[Jagattunga Govinda III]

Bengal, UP and Bihar were killed just to fulfill fantasies of Social Justice and Communist revolution to destroy the communalism and backwardness of native culture to make them par with European Enlightenments.

India would have been better without them.

The sad but funny thing is that their whole "social justice" thing was a slam-dunk scam. The number of seats for quality education centres has hardly increased and is nowhere near enough to meet the demands of the sheer population of the 2 states and yet election after election these scumbag politicians have campaigned for nothing but social justice and reservation while embezzling the funds allotted for the same. Their strategy has always been, "To get the votes from the poor and the oppressed, let the poor and the oppressed stay poor and oppressed". There is a special place in hell for subhumans who took part in this.

 

[ezsasa]

Q3 8.4%
=====
Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of ₹172.90 lakh crore, against the FRE of GDP for the year 2022-23 of ₹160.71 lakh crore. The growth rate of GDP during 2023-24 is estimated at 7.6 percent as compared to growth rate of 7.0 percent in 2022-23.

Nominal GDP or GDP at Current Prices in the year 2023-24 is estimated to attain a level of ₹293.90 lakh crore, against ₹269.50 lakh crore in 2022-23, showing a growth rate of 9.1 percent.

GDP at Constant (2011-12) Prices in Q3 of 2023-24 is estimated at ₹43.72 lakh crore, against ₹40.35 lakh crore in Q3 of 2022-23, showing a growth rate of 8.4 percent. GDP at Current Prices in Q3 of 2023-24 is estimated at ₹75.49 lakh crore, as against ₹68.58 lakh crore in Q3 of 2022-23, showing a growth rate of 10.1 percent.

https://mospi.gov.in/sites/default/files/press_release/PressNoteGDP29022024.pdf

 

[indus]

Hop people here invested in nifty index. It is going to rocket.

It has already rocketed. Haven't you been checking it for past one month

 

[TopWatcher]

FIIs making profit. Existing market

 

[Crazywithmath]

Q3 8.4%
=====
Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of ₹172.90 lakh crore, against the FRE of GDP for the year 2022-23 of ₹160.71 lakh crore. The growth rate of GDP during 2023-24 is estimated at 7.6 percent as compared to growth rate of 7.0 percent in 2022-23.

Nominal GDP or GDP at Current Prices in the year 2023-24 is estimated to attain a level of ₹293.90 lakh crore, against ₹269.50 lakh crore in 2022-23, showing a growth rate of 9.1 percent.

GDP at Constant (2011-12) Prices in Q3 of 2023-24 is estimated at ₹43.72 lakh crore, against ₹40.35 lakh crore in Q3 of 2022-23, showing a growth rate of 8.4 percent. GDP at Current Prices in Q3 of 2023-24 is estimated at ₹75.49 lakh crore, as against ₹68.58 lakh crore in Q3 of 2022-23, showing a growth rate of 10.1 percent.

https://mospi.gov.in/sites/default/files/press_release/PressNoteGDP29022024.pdf

Q1 revised to 8.2% (up from 7.8%)
Q2 revised to 8.1% (up from 7.6%)

8%+ annual real growth loading?

 

[TopWatcher]

High GDP growth , due to the high infrastructure development spending by govt

or

Use of Services by public as created by govt spending ?

 

[Crazywithmath]

Q1 revised to 8.2% (up from 7.8%)
Q2 revised to 8.1% (up from 7.6%)

8%+ annual real growth loading?

Nominal growth back to double digits.

@FalconSlayers

 

[sauntheninja]

High GDP growth , due to the high infrastructure development spending by govt

or

Use of Services by public as created by govt spending ?

Private sector what more do these guys need to start ingesting

 

[Comett]

before :

https://www.reuters.com/world/india/indias-economic-growth-expected-slip-below-7-oct-dec-quarter-2024-02-29/

after : changed the title of the article

https://www.reuters.com/world/india/indias-economic-growth-expected-slip-below-7-oct-dec-quarter-2024-02-29/

 

[Tejbrahmastra]

 

[NutCracker]

India's economic growth expected to slip below 7% in Oct-Dec quarter

India's Q3 economic growth slipped below 7% due to weak manufacturing sector and mixed consumption growth. Despite slower growth, India is expected to be one of the fastest-growing economies with estimated growth of 7.3% in the current fiscal year.

m.economictimes.com

Aged Like fine wine

Originally sourced from reuters.

 

[ezsasa]

High GDP growth , due to the high infrastructure development spending by govt

or

Use of Services by public as created by govt spending ?

as far as infra is concerned.

both, GoI spending on Infra have second and third order effects. Infra projects unless they are high frequency projects like big airports/metros in metros, other projects take a year or so after inauguration to start making money. it takes time for companies to re-orient themselves to new infra like expressways. connecting roads, petrol bunks, dhabas, transport company offices etc have to come up, before companies start using them.

on the other hand, projects that have been completed during covid, would probably start making money now.

this guy is saying, toll gates in MP section of delhi mumbai expressway are not making money because of very low traffic.

 

[another_armchair]

RBI and Govt. are being very conservative in estimating growth in order to avoid brickbats from the opposition but if one has been tracking PMI growth (manufacturing & services) over the last year, the numbers don't seem off at all.

IMO they seem a little on the lower side given our exports(goods+services) hit USD 779 billion in 2022 after remaining in a range between USD 490 and USD 550 billion between 2017 & 2020.

India - Exports Of Goods And Services - 2024 Data 2025 Forecast 1960-2022 Historical

Exports of goods and services (current US$) in India was reported at 778547052989 USD in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Exports of goods and services - actual values, historical data, forecasts and...

tradingeconomics.com

 

[Concard]

The next 5 years is freaking very important with the recent GDP figures showing increasing trend. I remember Atalji fixed the economy by 2002 and shifted the Indian economy to 5th gear by 2004 which showed the same healthy figures despite the Iraq war and 9/11 chaos. By 2004, 65 million jobs were created during Atalji tenure, GDP at healthy 7.4%, inflation below 4%, all vital indicators showed India will catapult to high growth economy. From building huge power plants to express ways to ports and even passing GST, BJP planned out everything to make India a high growth economy. And you all know what happened after that.

I hope in 2024 people realize we are now at the same stage. Modi has fixed NPA crisis, tackled COVID, passed GST, has put the economy in 5th gear and now more investments are being planned. This election is fucking crucial. I hope stupid Hindus don't sit at home on their couches thinking Modi will win. Go cast your vote for your children and grand children. BJP has to win simple majority at the very least if not a huge majority for them to have the freedom to take big decisions. We only ever had patches of this good economic times because Indians stupidity to elect harami Congis. Let this good times roll on for another 15 years for you to see real sweeping change in India.

 

[Kumata]

I did a drive till lalsot while going to Kota and traffic till Jaipur was decent.. beyond that we were just 2-3 cars hardly on almost 200 KM stretch... it was that kind eerie feeling being alone there with hardly any soul in sight .......

 

[Atavistic]

Either increase the f##king salaries or bring down the valuation of INR to its original value as it was between 40s to 70s.

 

[another_armchair]

RBI and Govt. are being very conservative in estimating growth in order to avoid brickbats from the opposition but if one has been tracking PMI growth (manufacturing & services) over the last year, the numbers don't seem off at all.

IMO they seem a little on the lower side given our exports(goods+services) hit USD 779 billion in 2022 after remaining in a range between USD 490 and USD 550 billion between 2017 & 2020.

India - Exports Of Goods And Services - 2024 Data 2025 Forecast 1960-2022 Historical

Exports of goods and services (current US$) in India was reported at 778547052989 USD in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Exports of goods and services - actual values, historical data, forecasts and...

tradingeconomics.com

View attachment 242323

India - Imports Of Goods And Services - 2024 Data 2025 Forecast 1960-2022 Historical

Imports of goods and services (current US$) in India was reported at 903457509125 USD in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Imports of goods and services - actual values, historical data, forecasts and...

tradingeconomics.com

Deficit in 2022 was USD 132 billion. Damn..

 

[NutCracker]

Either increase the f##king salaries or bring down the valuation of INR to its original value as it was between 40s to 70s.

If you remove the reserves part, as per REER index INR is overvalued . It should be 90+.

 

[Atavistic]

If you remove the reserves part, as per REER index INR is overvalued . It should be 90+.

What if rupee appreciates against the dollar ? Will it be beneficial for India if Purchasing power of jeets goes up ?