With the increased infrastructure spending by the Union and state governments post 2021-22, the medium-term outlook is positive for FDI inflows, opined India Ratings and Research's in a report on Sunday.
"Unorganised sector contributes 44+% to India's Gross Value Added (GVA). The unorganised sector grew at 7.4% Compound Annual Growth Rate (CAGR) between FY11 and FY16, but has suffered an average yearly contraction of 0.2% since then," the senior Congress leader said.
Fitch Ratings has maintained its assessment of India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, despite the coalition government following the recent election results.
Despite this positive quarter, the overall CAB for FY24 is expected to remain in deficit at 0.6 per cent of GDP, the lowest since FY17, excluding the pandemic-affected FY21.
This transfer, coupled with the subsequent government spending, will bolster the central government's fiscal position, enabling potential additional spending or fiscal consolidation.
The upgrade considers AGEL's continued strong operational asset performance and a scale-up in execution, with annual capacity additions projected to increase to 4GW-5GW from the previous 2.5-3.5GW.
Crops that are sown during October and November and the produce harvested from January depending on maturity are Rabi. Crops sown during June-July and dependent on monsoon rains are harvested in October-November are kharif. Crops produced between Rabi and Kharif are Summer crops.
The new projection slightly exceeds the Reserve Bank of India's (RBI) forecast of 7.0 per cent. The agency's forecast indicates higher growth than RBI's for the first and fourth quarters of FY25 but lower for the second and third quarters.
India Ratings and Research (Ind-Ra) has maintained an improving outlook for the education sector for the financial year 2024-25, driven mainly by continuously growing enrolments along with rising tuition fees per student.
Ind-Ra expects the prices to have been higher 22 per cent year-on-year at end-2023-24 and would be subdued at around 5 per cent for 2024-25, due to the base effect and large amount of new launches planned.
The analysis, presented in a recent publication by Ind-Ra, forecasts that India's economy is on track to ascend to the upper-middle-income category between fiscal years 2033 to 2036, eventually culminating in a USD 15 trillion economy by fiscal years 2043 to 2047.
Anuradha Basumatari, Director of Public Finance at Ind-Ra, emphasized the favorable conditions for capital expenditure, stating, "Containment of the revenue deficit provides greater fiscal flexibility to states, which is favorable to capital expenditure and is expected to continue in FY25