March 20, 2024
1 min read

‘India Growth Up Despite Global Slowdown’

The report states that high-frequency indicators point to a further levelling of growth in the global economy in the period going ahead…reports Asian Lite News

The high visibility of structural demand and healthier corporate and bank balance sheets are likely to propel India’s growth going forward even as the global economy is losing steam, according to the RBI’s monthly bulletin released on Tuesday.

The report states that high-frequency indicators point to a further levelling of growth in the global economy in the period going ahead.

While business activity is showing some slender improvement in both advanced and emerging economies, external demand remains subdued amidst country-specific weaknesses, including in the property sector, and spiralling public debt.

Labour markets remain resilient but are showing signs of easing, especially in terms of wage increases. However, in some Emerging Market Economies (EMEs), unemployment rates are edging up, the report adds.

In India, real GDP growth was at a six-quarter high in Q3:2023-24, powered by strong momentum, robust indirect taxes, and lower subsidies, the RBI bulletin states. However, there is a word of caution over inflation.

“Even as inflation is on the ebb with broad-based softening of core inflation, the repetitive incidence of short amplitude food price pressures deters a swifter fall in headline inflation towards the target of 4 per cent,” the bulletin states.

This would imply that the RBI will not be in a position to reduce key interest rates to back fiscal policy in spurring growth.

Another article in the RBI bulletin which talks of seasonal factors in the Indian economy, states that the consumer price index (CPI) witnesses price pressure during the monsoon season, driven by vegetable prices while fruit prices peak during the summer months.

Compared to the pre-COVID period, seasonal variation has also increased for cash in hand and balances with RBI, production of primary goods, consumer goods, textiles, petroleum products, electricity production, passenger vehicle sales and merchandise exports, it adds

ALSO READ-‘India Aims for 15% Natural Gas Share by 2030’

Previous Story

Startup Mahakhumb 2024 Ignites Startup Growth

Next Story

Unilever Spins Off Ice Cream Unit, 7.5K Jobs Cut

Latest from -Top News

India Targets Terror at SCO Meet

In addition to addressing the plenary, Singh will hold bilateral meetings with his counterparts from several participating nations, including China and Russia….reports Asian Lite News In a renewed diplomatic offensive against Pakistan-sponsored

Middle East Shutdown Disrupts Kerala Flights

With the Israel-Iran ceasefire easing tensions, airlines have begun rescheduling flights, bringing relief to stranded travellers….reports Asian Lite News A sudden closure of airspace over parts of the Middle East late Monday

No Ceasefire Deal, Says Tehran

Iran’s Foreign Minister Abbas Araghchi says no “agreement” on ceasefire between Israel and Iran…reports Asian Lite News Uncertainty and scepticism mounted on Monday after a surprise ceasefire announcement by the United States,

Qatar: Retaliation on the Table

Majed Al Ansari added that the State of Qatar strongly condemns the attack that targeted Al-Udeid Air Base by the Iranian Revolutionary Guard….reports Asian Lite News Qatar on Monday announced that it

Trump Claims Iran-Israel Truce

The announcement followed a symbolic show of Iran, which shot missiles at a US base in Qatar after having given the US notice of the strike, according to Trump….reports Asian Lite News
Go toTop

Don't Miss

Modi pitches clean energy tech at G7

Prime Minister Narendra Modi said a huge market for clean

Congress to face repercussions also in Kerala

The first hurdle to cross in Kerala in the wake