The Indian economy likely returned to a more normal 6.2% annual growth rate in July-September after double-digit expansion in the previous quarter, but weaker exports and investment will curb future activity, a Reuters poll showed.
In April-June, Asia's third-largest economy showed explosive growth of 13.5% from a year earlier thanks mainly to the corresponding period in 2021 having been depressed by pandemic-control restrictions.
The 6.2% annual growth forecast for latest quarter in a Nov. 22-28 Reuters poll of 43 economists was a tad lower than the RBI's 6.3% view. Forecasts ranged between 3.7% and 6.5%. Although business surveys indicated weakening economic activity in most major economies, where central banks are responding to soaring inflation with higher interest rates, business sentiment has remained relatively strong in India.
"GDP is expected to increase sequentially, led by continued recovery in services. Mining and manufacturing are expected to be a drag. On the demand side, lower global growth hit exports in Q2 ," said Sakshi Gupta, principal India economist at HDFC Bank, adding there were signs that consumption was uneven.outlook. Meanwhile, the RBI raised its key policy interest rate to 5.9% from 4.0% in May and is widely expected to add another 60 basis points by the end of March.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GOTG's Mantis Actor Reacts To Joining Mission: Impossible 7 CastGuardiansOfTheGalaxy's Mantis actor Pom Klementieff reacts to joining the MissionImpossible — Dead Reckoning Part One cast. 'I was so happy and also so stressed because I wanted to tell everyone, but I had to keep it a secret for at least a few days.'
Read more »
India Is on a Book Adaptation Learning Curve, Film Bazaar Panel SaysIndustry executives, producers and screenwriters got into the details of adapting literary material into film scripts at a Film Bazaar Knowledge Series discussion this week. India has experienced g…
Read more »
Deadlock deepens at Adani's south India port as protesters block trucksProtesters from a fishing community blocked attempts by India's Adani Group to restart work on a $900 million transhipment port in south India, a company spokesperson said on Saturday, prolonging a deadlock that has stalled the port's development.
Read more »
India-France-Norway Project ‘Solo’ Gets CNC Funding, ‘The Silent Echo’ Sets France Release (EXCLUSIVE)Indian filmmaker Suman Sen’s “Eka” (“Solo”) has been granted funding from the Aide aux Cinémas du Monde, a fund operated by France’s national film board (CNC). …
Read more »
India regulator asks One 97 Communications unit to reapply for payment aggregator licenceIndia's banking regulator has declined a payment aggregator licence for the One 97 Communications Ltd unit that owns the popular Paytm brand, asking it to reapply with 120 days after meeting certain conditions.
Read more »
When 1,000 pounds of marijuana disappears, India police blame rats“Being small in size, rats have no fear of the police,” the Mathura police stated in court.
Read more »