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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
India is set to face a milder winter, raising concerns about its impact on crop yields and food inflation. Experts warn that warmer temperatures could disrupt agricultural cycles, particularly affecting wheat and other crops in Punjab and Haryana, potentially delaying the moderation of food prices. The India Meteorological Department has predicted above-normal minimum temperatures for the winter season, following a notably warm November.
The Reserve Bank of India (RBI) maintained the key policy rate at 6.5% amid persistent inflation above its comfort zone, while also reducing the cash reserve ratio by 50 basis points to stimulate economic activity. Economists noted that a potential repo rate cut could occur if inflation falls below 5% by December 2024.
The GDP growth slowed to 5.4% in the September quarter, the lowest in seven quarters and below the RBI's 7% projection, primarily due to declines in manufacturing and mining. ICRA's Aditi Nayar anticipates a potential miss of Rs 1 trillion in government capex for the year but remains optimistic about agricultural growth in the second half, influenced by normal monsoon conditions. She predicts a status quo in December's monetary policy, with a higher chance of a rate cut in February.
India"s GDP growth is projected to decline to 6.5% for the September quarter, impacted by heavy rains and weaker corporate performance. However, ICRA maintains a 7% growth estimate for FY25, anticipating a recovery in economic activity in the latter half of the fiscal year, supported by government spending and improved rural sentiment. Official Q2 economic data is expected on November 30.
Aditi Nayar
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07:39 06.12.2024
07:07 06.12.2024
13:00 29.11.2024
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