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India: GDP to grow 7.5% in 2015, 7.6% in 2016 – NAB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at NAB economics, is forecasting Indian economy to register a 7.5% expansion in 2015, followed by 7.6% in 2016.

    Key Quotes

    • “India’s economy accelerated in the September quarter 2015, with Real GDP growing by 7.4% yoy, up from 7% in the June quarter.

    • By expenditure, there was a clear improvement in investment spending. Manufacturing, finance and electricity were the standout industry sectors.

    • India’s exports have declined through 2015; lower energy prices have contained the trade deficit.

    • Headline inflation accelerated to 5% in October, driven partly by rising costs of pulses.

    • The RBI held the policy rate at 6.75% in its December meeting, with an accommodative stance.

    • To facilitate quicker transmission, it is finalising the methodology to allow banks to price loans based on marginal funding costs.

    • NAB Economics is forecasting a further 50bp reduction in the policy Repo rate during 2016 to 6.25% by the end of 2016.

    • The inflationary impact of the Pay Commission’s proposals and outlook for food and energy prices are factors that might influence this outcome.”
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