According to a recent report by CLSA, the gross domestic product (GDP) data for Q1 FY20, i.e. April-June may indicate a sluggish growth. The GDP data for Q1 FY20 will be released by the government at 5:30 p.m. today.
The brokerage added that the second quarter might also witness a downtrend in domestic demand on account of the poor monthly indicators. In the report, CLSA stated that the GDP was only ahead of the gross value added (GVA) growth by up to 0.3 percentage points during the last three years.
Also Read: How Urban GDP can make up to 70%-75% of India’s total GDP by 2020
CLSA also pointed out that the GVA growth in Q4 FY19 could be capped at 5.7%. According to the report, the automobile sector has experienced a significant blow in sales during the last few months. The industry witnessed sales of both automobiles and motorcycles drop by 26% and 13% year-on-year respectively.
Finance Minister Nirmala Sitharaman was also highly appreciated for the various measures announced to support the economy with additional liquidity. CLSA further added that the Centre would soon come up with a medium to provide credit to housing projects and infrastructure in the country.
Abbreviation is the name of the game – SIP, NPS, ELSS, KTM, and OMR.
Vishnu is the cat that got too curious. He can normally be found staring at market charts or drooling over his Real Madrid curios.
Favourite quote: ” Madrid, Madrid, Madrid ¡Hala Madrid! Y nada más”
The systematic investment plan (SIP) contribution in February 2024 has crossed a new milestone. The monthly contribution tipped at Rs…
The Income-Tax (I-T) Department has directed taxpayers to access the Annual Information Statement (AIS) via the e-filing official portal and…
Considering the vagaries of the stock market, investors often ponder over reevaluating their strategies. Whether to continue to remain invested…
Financial planning is beyond just investing wisely to save on taxes; it's also related to protecting oneself and one's loved…
A salaried individual earning up to Rs 5-15 lakh as net salary on an annual basis must first take stock…
Equity-linked savings schemes (ELSS), also referred to as tax-saving schemes, are equity funds that invest a significant portion of their…