Breaking News

You are here » Indian-Commodity  :  Economy  :  ICRA estimates India's GDP growth to improve to 7.4% in Q4FY18

22-May2018

ICRA estimates India's GDP growth to improve to 7.4% in Q4FY18

Ahead of the Central Statistics Office's (CSO's) Gross Domestic Product (GDP) estimate for the fourth quarter of fiscal 2017-18, domestic rating agency, Indian Credit Rating Agency (ICRA) in its latest report has forecasted that India's GDP growth is expected to improve to 7.4% in January-March quarter of 2017-18 (Q4FY18) from 7.2% in Q3FY18. It added that the growth will be supported by good rabi crop harvest and improved corporate earnings. It also said that this will exceed the implicit forecast of 7.1% embedded in the CSO's Second Advance Estimate of National Income for FY18.

As per the report, the growth of the Indian gross value added (GVA) at basic prices in year-on-year (Y-o-Y) terms is likely to record a considerable recovery to 7.3% in the fourth quarter of FY18 from 6.7% in the third quarter of FY18, thereby rebounding above 7% after a gap of five quarters. The report stated that this revival in Q4, relative to the previous three months, is expected to be broad-based, supported by an uptick in industry (to 7.7% from +6.8%), agriculture, forestry and fishing (to 4.5% from 4.1%), and services (to 7.8% from +7.7%).

ICRA said that the uptick in economic activity that set in during the second half of 2017 is expected to have strengthened in Q4 FY18, led by a healthy rabi harvest, robust volume growth in various sectors, an improvement in corporate earnings and a favourable base effect. It further said it expects a mild pickup in growth in the services sector, reflecting the improvement in diesel and petrol consumption, service sector exports, passengers carried by domestic airlines, cargo handled at major ports and railway revenue carrying freight.


Related News

View all news

Increasing involvement of govt in affairs of RBI could undermine financial stability: S&P

S&P Global Ratings in its latest report has termed the recent resignation of Urjit Patel as credit negative and said Indian government's sustained and intense involvement in the affairs of the......

Govt will stick to 3.3% fiscal deficit target in FY19, clock growth rate of 7-8%: Jaitley

Expressing optimism over India's fiscal position, Finance Minister Arun Jaitley has said that the government will stick to its fiscal deficit target in the current financial year (FY19) because when current......

Govt mulls extra capital infusion of Rs 30,000 crore in PSBs

The government is considering additional capital infusion of up to Rs 30,000 crore in public sector banks (PSBs).  It is expected that final decision will come in the next few weeks. The government......

Top News

View all news

Infibeam Avenues' arm incorporates wholly owned subsidiary

Infibeam Avenues' wholly owned subsidiary-- Infibeam Global EMEA FZ-LLC has incorporated a wholly owned subsidiary company namely 'Richrelevants' in BVI, which will be the Step-down Wholly Owned Subsidiary......

Ramco Systems gets order from Global Top 10 Chemical Manufacturing Company

Ramco Systems' Global Payroll platform has been chosen by one of the leading chemical producer and a Global Top 10 Chemical Manufacturing company by revenue, as a Managed Service for its multi-country......

JCT planning to raise funds on preferential basis

JCT is planning for the fresh issuance of equity shares aggregating to Rs 9.16 crore on preferential basis to term lenders. The meeting of the Board of Directors of the Company will be held on December......