Monetary Policy: Entering a new phase in good economic health, with a cautious pause moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
The strong March quarter print could lift overall gross domestic product (GDP) growth for the full fiscal year to 7.8% against 7.6% assessed in the government s first advance estimates released in February. The International Monetary Fund (IMF) has also forecast 7.8% growth for FY24. The government will release fourth-quarter growth numbers and provisional GDP data for FY24 on May 31.
The Reserve Bank of India is expected to delay cutting interest rates until the final quarter of the year, according to a Bloomberg survey. The RBI may reduce its benchmark repurchase rate by 50 basis points in the October-December period before pausing, due to rising inflation risks and the US Federal Reserve keeping rates steady. Governor Shaktikanta Das has maintained a hold on rates, waiting for inflation to stabilize around the central bank s 4% target. Economists predict that India s growth and inflation dynamics are healthy, but global and geopolitical developments, particularly decisions by the US Fed, could influence the RBI s rate decisions.