India Economic Outlook
September 19, 2017Economic momentum sputtered in the first quarter of FY 2017 as growth slid to the slowest rate in three years. A poorly performing external sector, which was hit by a strong rupee and confusion over the implementation of the Goods and Services Tax (GST), was largely to blame. In addition, investment was weighed down by a stressed banking sector and overleveraged firms. However, the impact from the GST implementation should be temporary, and growth is seen gaining steam going forward. Moreover, incoming data for Q2 FY 2017 is tentatively bright: Industrial production rebounded in July and the manufacturing PMI returned to expansionary territory in August. On a positive note, the new GST generated higher revenue than expected in July, the first month of implementation. Despite the robust collections figures, it appears increasingly likely that the government could fall short of its fiscal targets, as the deficit rose to 92.4% of the full-year target in July.
India Economy Data
5 years of India economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.74||-0.27 %||Oct 13|
|Exchange Rate||64.70||-0.55 %||Oct 13|
|Stock Market||32,433||0.78 %||Oct 13|
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India Economic Growth
September 19, 2017Met the why particular panelists downgraded their view of the economy this month following a lackluster first quarter of FY 2017. The panel sees GDP expanding 7.0% in FY 2017, which is down 0.2 percentage points from last month’s forecast. However, activity should pick up in H2 FY 2017 as the economy moves past demonetization and the GST implementation. Growth is projected to accelerate to 7.4% in FY 2018.
India Economic News
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.
October 5, 2017
The manufacturing sector consolidated gains made in previous months in September as GST-related concerns receded.
September 18, 2017
Recently released data related to India’s external sector showed that the trade deficit totaled USD 11.7 billion in August, which was a greater shortfall than the USD 7.7 billion gap recorded in August 2016 (July 2017: USD 11.5 billion deficit). The deterioration in trade data came on the back of robust growth in exports, while imports jumped.
September 15, 2017
Industrial output expanded 1.2% annually in July, contrasting June’s 0.2% drop (previously reported: -0.1% year-on-year).
September 15, 2017
India’s manufacturing sector gained considerable steam in August, as the effects of the implementation of the goods and services tax (GST) began to fade.