S&P Global Ratings on Wednesday revised its rating outlook on India to positive from stable, and added that it expects continuity in economic reforms and fiscal policies regardless of the Lok Sabha election outcome.
On Wednesday morning, Indian stock indices consolidated from where they were at the previous session closing. After a stellar rally over the past few weeks, markets faced some resistance this week.
Despite the challenges faced by the global economy, including geopolitical tensions and extreme weather events, global growth remains resilient, supported by easing inflationary pressures and strong employment conditions.
The NEO for Q2 2024 stands at 36 per cent, calculated by subtracting the percentage of employers expecting to reduce staffing levels from those planning to hire.
Analysts now believe the uptrend in the Indian stock benchmarks is expected to continue through this upcoming week starting Tuesday. On Monday, stock markets will remain closed on account of General Elections.
The upward revisions mainly reflect a better outlook in the United States, where the latest forecast points to 2.3 per cent growth in 2024, and several large emerging economies, notably Brazil, India and the Russian Federation.
India's trade deficit faces limited near-term challenges from ongoing geopolitical uncertainties, though it remains an important area to monitor, says a recent outlook report by Crisil on India's trade deficit.
CRISIL's outlook on near term interest rate, expects two rate cuts by Reserve Bank of India (RBI) this fiscal. The outlook of the S&P global company CRISIL estimates real GDP growth of India to moderate to 6.8 per cent in this fiscal from 7.61
per cent last fiscal.
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.