Today: 30 May 2025
20 March 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

White House: Israel OKs Gaza Truce

Hamas said Thursday that its leadership had received a new Gaza ceasefire proposal from Witkoff through the mediators and was studying it…reports Asian Lite News The White House said that Israel has

Saudi backs India’s strategic outreach

In a series of engagements, the Indian delegation met Saudi Arabia’s Minister of State Adel Al-Jubeir and other senior officials. A high-profile Indian all-party parliamentary delegation, led by BJP MP Baijayant Jay

Iran pressed over 3 missing Indians

The embassy stated that it is maintaining close contact with the families and keeping them regularly updated about the steps being taken….reports Asian Lite News The Indian government has urged Iranian authorities

EU-UAE FTA talks amid US tariff pressure

Talks will also explore ways to boost trade in strategic sectors, such as renewable energy, green hydrogen and critical raw materials….reports Asian Lite News The European Union (EU) and the United Arab
Go toTop

Don't Miss

India needs to develop new strategy on China

Any Indian strategy must counter the Chinese philosophy which seeks

India, Saudi to expand military ties

The chiefs of the Indian Army and Royal Saudi Land