{"id":269045,"date":"2023-12-01T18:00:12","date_gmt":"2023-12-01T18:00:12","guid":{"rendered":"https:\/\/hamslivenews.com\/?p=269045"},"modified":"2023-12-02T08:07:42","modified_gmt":"2023-12-02T08:07:42","slug":"brokerages-raise-indias-economic-growth-forecast-after-upbeat-q2","status":"publish","type":"post","link":"https:\/\/www.hamslive.com\/news\/2023\/12\/brokerages-raise-indias-economic-growth-forecast-after-upbeat-q2\/","title":{"rendered":"Brokerages raise India\u2019s economic growth forecast after upbeat Q2"},"content":{"rendered":"
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India remains the fastest-growing major economy in the July-September 2023 quarter as well. The growth drivers of India\u2019s Quarter 2 GDP growth are a strong industry push induced by private consumption and investment, steady performance of the agriculture sector, and strong services growth.<\/p>\n

Investment in the private sector is beginning to pick up as funds intended for capital expenditure (capex) raised by corporates through different channels from banks\/ financial institutions (FIs), external commercial borrowings (ECBs), and initial public offerings (IPOs) \u2013 during the first half of 2023-24 were 60 percent higher than during the second half of 2022-23.<\/p>\n

Several brokerages, including Wall Street majors BofA and Citigroup, raised their forecasts for India\u2019s economic growth for the current fiscal year, after the country\u2019s economy grew at a faster-than-expected pace in the second quarter.<\/p>\n

India\u2019s gross domestic product (GDP), expected to be the fastest growing among major economies this year, grew 7.6% in the quarter ended Sept. 30, ahead of 6.8% expected in a Reuters poll, prompting bets of a higher growth rate for the year ending March 2024.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
BROKERAGE<\/td>\nCURRENT FY23-24 GDP FORECAST<\/td>\nPREVIOUS FY23-24 GDP FORECAST<\/td>\n<\/tr>\n
J.P.Morgan<\/td>\n6.50%<\/td>\n6.20%<\/td>\n<\/tr>\n
Bofa Global Research<\/td>\n6.50%<\/td>\n6.30%<\/td>\n<\/tr>\n
Citigroup<\/td>\n6.70%<\/td>\n6.20%<\/td>\n<\/tr>\n
Goldman Sachs<\/td>\n6.7% (CY ’23)<\/td>\n6.5% (CY ’23)<\/td>\n<\/tr>\n
Barclays<\/td>\n6.70%<\/td>\n6.30%<\/td>\n<\/tr>\n
Deutsche bank<\/td>\n6.80%<\/td>\n6.40%<\/td>\n<\/tr>\n
Morgan Stanley<\/td>\n6.90%<\/td>\n6.40%<\/td>\n<\/tr>\n
UBS<\/td>\n6.70%<\/td>\n6.30%<\/td>\n<\/tr>\n
Nomura<\/td>\n6.70%<\/td>\n5.90%<\/td>\n<\/tr>\n
DBS<\/td>\n6.80%<\/td>\n6.40%<\/td>\n<\/tr>\n
SBI<\/td>\n7%<\/td>\n6.70%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(REUTERS)<\/p>\n<\/div>\n

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