INSUBCONTINENT EXCLUSIVE:
GDP will expand 9.3% in the fiscal that ends March, according to a Bloomberg survey of economists.New Delhi: India's effort to boost
consumption through government spending and low interest rates is paying off, with the economy gaining strength just as a new coronavirus
variant emerges as the top threat to a global recovery.The South Asian nation remains on track to post the fastest growth among major
economies as most sectors, including services and exports, show momentum
Gross domestic product will expand 9.3% in the fiscal that ends March, according to a Bloomberg survey of economists, a touch faster than
of lockdowns has been falling as they become more targeted and shorter.Official data due later Tuesday will likely show GDP in the
July-September quarter grew 8.3% from a year ago, according to the median estimate in a Bloomberg survey
That's slower than 20.1% growth in the previous quarter -- which largely reflected a bounce back from last year's crash -- but marks a
fourth straight quarter of expansion.Growth IndicatorsIndia loosened fiscal and monetary policy to power through the pandemic-induced slump,
spending a priority ahead of the February budget, where she will give an annual plan of the government's expenditure and revenue
along with a faster pace of vaccinations and a decline in cases, has fed a pick up in the activity
From the nation's dominant services sector to manufacturing, and from robust exports to rising tax collections, most high-frequency
and emerged as the only bright spot when the pandemic ravaged the economy, is expected to keep the growth momentum rolling after a normal
Rising input costs due to supply-side disruptions and global commodity prices are squeezing margins of companies
That's dampened the recovery in some sectors such as automobiles, particularly sale of two-wheelers, which are an indicator of rural
Soaring fertilizer prices are also adding to worries with risks of lower harvests.The latest threat comes from the omicron variant, which
has triggered the return of travel restrictions
While the Indian economy is yet to see any impact, the news is weighing on the sentiments in the currency and stock markets.There is a
