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With the help of good investment and domestic demand, the World Bank in its latest ‘India Development Update’ report has said that the Indian economy, which accounts for the bulk of South Asia region, is projected to grow at 6.3 per cent in FY2023-24 and 6.4 per cent in FY2024-25. It added India continues to show resilience against the backdrop of a challenging global environment. On inflation front, it is expected to decrease gradually as food prices normalize and government measures help increase the supply of key commodities.
The World Bank said South Asia is expected to grow 5.8 per cent this year - higher than any other developing country region in the world, but slower than its pre-pandemic pace and not fast enough to meet its development goals. Relative to the spring forecast, growth in 2023 has been upgraded by 0.2 percentage points due to stronger-than-expected data in India.
Although India’s post-pandemic economic rebound is now fading, it said growth is expected to remain stronger than in other large emerging market and developing economies (EMDEs). The report said ‘the dampening effect of monetary policy tightening on domestic demand, particularly investment, will likely peak in the coming year. The effects of slowing global demand and rising interest rates will be mitigated by India’s low external debt and the healthy balance sheets of its financial and corporate sectors’.
Growth of merchandise exports is expected to slow as a result of weak foreign demand growth, although this will be offset by robust services exports. The World Bank said, in India, robust output growth in the first half of 2023 was supported by a strong expansion of investment and, on a sectoral level, continued strength of services. Government infrastructure projects have supported momentum in the construction sector, which has grown at year-over-year rates of around 10 per cent in recent quarters.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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