Economic Outlook

RBI expects FY24 GDP growth to decelerate to 6.5%

India’s real GDP growth may fall from seven per cent in 2022-2023 to 6.5 per cent in 2023-24, the Reserve Bank of India (RBI) stated in its monthly bulletin. At current prices and exchange rates, India’s economy would be worth USD 3.7 trillion in 2023. The economy would be world’s fourth largest in 2025 and world’s third largest in 2027, when it would be worth USD 5.4 trillion. The RBI further stated that with retail inflation falling below the six per cent upper band in recent months, the first milestone of the Monetary Policy Committee (MPC) is passed. The objective during 2023 is to tether inflation therein so that it aligns with the target by 2024. Lead indicators also suggest that the current account deficit is on course to narrow through the rest of 2022 and 2023, it added.

References
1. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=55076
2. https://www.thehindubusinessline.com/money-and-banking/macroeconomic-stability-getting-further-entrenched-rbi-monthly-bulletin/article66410050.ece
3. https://economictimes.indiatimes.com/news/economy/indicators/softening-of-commodity-prices-and-other-costs-boosted-corporate-performance-rbi-bulletin/articleshow/97138291.cms
4. https://www.financialexpress.com/economy/rbi-resolves-to-tether-inflation-in-2023/2954144/
5. https://www.business-standard.com/article/economy-policy/india-s-current-account-deficit-likely-to-narrow-in-2023-says-rbi-report-123011901257_1.html
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CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.1 -0.1
Consumer Sentiments Index
Base September-December 2015
84.6 -0.2
Consumer Expectations Index
Base September-December 2015
83.7 0.0
Current Economic Conditions Index
Base September-December 2015
86.0 -0.5
Updated on : 05 Feb 2023 12:00AM
Quarterly CapEx Aggregates
(Rs.trillion) Mar 22 Jun 22 Sep 22 Dec 22
New projects 8.68 5.20 4.42 6.68
Completed projects 1.33 1.18 1.36 1.61
Stalled projects 0.43 0.53 0.07 0.01
Revived projects 0.33 0.29 0.12 0.32
Implementation stalled projects 0.09 0.29 0.26 0.11
Updated on: 05 Feb 2023 8:28PM
Quarterly Financials of Listed Companies
(% change) Mar 22 Jun 22 Sep 22 Dec 22
All listed Companies
 Income 20.8 40.1 25.2 19.8
 Expenses 19.8 41.4 27.1 20.6
 Net profit 31.6 21.1 -1.4 5.7
 PAT margin (%) 8.8 7.2 7.8 9.9
 Count of Cos. 4,686 4,704 4,578 1,301
Non-financial Companies
 Income 24.8 50.1 27.9 18.5
 Expenses 25.7 52.9 31.5 20.5
 Net profit 10.1 8.4 -21.0 -12.7
 PAT margin (%) 7.6 5.7 5.7 7.1
 Net fixed assets 2.0 4.1
 Current assets 15.0 19.1
 Current liabilities 11.7 10.4
 Borrowings 3.5 12.8
 Reserves & surplus 11.2 7.6
 Count of Cos. 3,398 3,424 3,371 944
Numbers are net of P&E
Updated on: 05 Feb 2023 8:28PM
Annual Financials of All Companies
(% change) FY20 FY21 FY22
All Companies
 Income 0.6 -1.4 26.0
 Expenses 0.3 -3.6 24.9
 Net profit -3.0 74.5 63.3
 PAT margin (%) 2.0 4.5 7.2
 Assets 8.9 10.7 9.9
 Net worth 4.8 12.0 14.0
 RONW (%) 3.4 6.9 11.5
 Count of Cos. 31,839 30,688 14,155
Non-financial Companies
 Income -1.1 -2.5 30.7
 Expenses -0.9 -4.4 30.4
 Net profit -20.5 62.4 61.3
 PAT margin (%) 2.3 4.0 6.2
 Net fixed assets 11.4 2.4 2.1
 Net worth 2.1 10.6 14.5
 RONW (%) 4.7 7.6 12.7
 Debt / Equity (times) 1.1 1.0 0.8
 Interest cover (times) 1.9 2.5 4.0
 Net working capital cycle (days) 73 82 59
 Count of Cos. 25,106 24,021 11,477
Numbers are net of P&E
Updated on: 04 Feb 2023 5:32PM
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