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The Finance Ministry in the Monthly Economic Review report for October has said that the current financial year (FY24) should conclude as projected with a strong growth performance and macroeconomic stability as more than half of this fiscal has witnessed positive developments in the economy. The Reserve Bank of India (RBI) has projected a 6.5 per cent GDP growth in the current financial year ending March 2024. The ministry also said the downside risk will continue to be inflation that should keep both the government and the RBI on high alert.
The report said financial flows in the external sector need constant monitoring as they impact the value of rupee and the balance of payments, and added that a fuller transmission of the monetary policy may also temper domestic demand. On the inflation front, it said the decline in international crude oil prices and continued moderation in core inflation are likely to control inflationary pressures going forward. Recognising this trend, the report said the RBI has also indicated that any further tightening of monetary policy will likely occur when transmission is closer to completion and if the situation warrants.
It noted the government's sustained investment push, healthy corporate profits and a reduction in banks' non-performing loans will likely keep investment buoyant despite elevated input costs. India's exports are also expected to perform well, driven by strong performance in services exports. On balance, however, the report said India's growth experience in FY24 should continue to be a positive outlier as compared to other major economies. On the public finance side, the report said the central government is on track to achieve the budgeted deficit target for the current fiscal year as well.
Continued buoyancy in revenue collections supported by prudent expenditure management has enabled the fiscal deficit to be contained within 40 per cent of the Budget Estimate during the first half of the year. According to the report, the government's emphasis on capital expenditure has continued during the year as well imparting an impetus to private investment. It added that the recent steep and rapid decline in global crude oil prices removes an important source of potential impact on public finances as well.
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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