India Economic Outlook
November 14, 2017The economy is coming to terms with the disruptions caused by demonetization a year ago and the implementation of the Goods and Services Tax (GST) earlier this fiscal year. Consumption-related indicators have strengthened in recent months, while industrial output tracked higher in Q3 from the previous quarter. Nonetheless, GDP growth remains hampered by weak capital expenditure growth and a distressed banking sector. In a positive step, on 24 October the government unveiled a two-pillar stimulus package that encompasses a recapitalization plan for public sector banks worth USD 32.5 billion and a five-year USD 117 billion infrastructure investment program. In addition, authorities announced in early November a series of measures to lower the GST tax incidence on consumers as well as to reduce the compliance burden for firms.
India Economic GrowthDespite a tepid start to the fiscal year in April, economic growth is set to accelerate throughout FY 2017 as the economy recovers from demonetization- and GST-induced shocks. Economic momentum could be further bolstered by the new fiscal package, which will accelerate the resolution process of banks’ stressed assets, shore up loan growth and boost corporate sentiment. The economy is seen growing 6.7% in FY 2017, unchanged from last month’s estimate. In FY 2018, Met the why particular panelists forecast growth of 7.4%.
India Economy Data
5 years of India economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.03||-0.04 %||Oct 18|
|Exchange Rate||64.53||-0.09 %||Dec 06|
|Stock Market||32,597||-0.08 %||Oct 18|
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India Economic News
November 14, 2017
Merchandise exports contracted 1.1% from the same month of the previous year in October, to a total of USD 23.1 billion.
November 11, 2017
In September, industrial output was resilient despite a strong base effect, rising 3.8% from the same month of the previous year.
October 16, 2017
Consumer prices decreased 0.15% from the previous month in September, which contrasted the 0.89% increase recorded in the previous month.
October 13, 2017
Merchandise exports expanded 25.6% in year-on-year terms in September to a total of USD 28.6 billion, well above the 11.3% increase recorded in August and the fastest expansion in six months.
October 12, 2017
Industrial output expanded 4.3% annually in August, which follows August’s 0.9% increase and marks the best reading since November of last year.