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Infosys delivered $18.6 billion in FY24 revenues with a growth of 1.4% in constant currency and operating margin of 20.7%
Textiles India expected to record 6.9-7.2% GDP growth in FY24: Deloitte 16 Jan '24 2 min read Pic: Adobe Stock Insights India is expected to record a GDP growth in the 6.9-7.2 per cent range in this fiscal (FY24) and 6.4-6.7 per cent in FY25 amid improving economic fundamentals, Deloitte said recently. Its current account deficit—1.9 per cent of the GDP in FY23—is expected to reduce further in FY24. Deloitte expects high inflation to persist till the second half of FY24. India is expected to record a gross domestic product (GDP) growth in the 6.9-7.2 per cent range in this fiscal (FY24) and 6.4-6.7 per cent in FY25 amid improving economic fundamentals and an underlying momentum, Deloitte India said in an update to its quarterly outlook.The country’s current account deficit (CAD), which was at 1.9 per cent of the GDP in FY23, is expected to be reduce further in FY24, Deloitte noted.India is expected to record a GDP growth in the 6.9-7.2 per cent range in this fiscal (FY24) and 6.4-6.7 per cent in FY25 amid improving economic fundamentals, Deloitte said recently. Its current account deficit—1.9 per cent of the GDP in FY23—is expected to reduce further in FY24. Deloitte expects high inflation to persist till the second half of FY24."And, while the global economic scenario remains modest and will impact the Indian economy, the country will be able to navigate uncertainties better than the rest of the world," wrote Rumki Majumdar, economist, Deloitte India, on the company’s website.Foreign exchange reserves are at a comfortable level of ₹568 billion—equivalent to over 10 months of import cover. At present inflation stands at 5 per cent which is albeit high as per the reserve Bank of India's target range, but much lower than what it used to be a decade back, Deloitte noted."High inflation is expected to persist till H2 [the second half of] FY2024, due to high food and volatile oil prices and will soften thereafter," Majumdar said.Digitisation, high-end manufacturing capacity addition and improved competitiveness through exports formed the three pillars of India's decade-long vision and the country is witnessing the outcomes translating into sustainable growth, she noted.The country, however, needs to be more competitive and further scale up commoditised products by taking advantage of its large domestic market, she added. Fibre2Fashion News Desk (DS) More Textiles News - India...
Credit rating agency ICRA predicts that the revenues of 25 Indian pharmaceutical companies, which account for 60% of the Indian pharmaceutical industry's total revenues, will expand by 9-11% in FY24, compared to 10% in the previous year. The operating profit margin (OPM) is projected to improve to 22-23% in FY24, compared to 20.7% in FY2023.
For FY 24-25 (AY 25-26), which income tax slab scheme to choose? Excel income tax calculator compares 'OLD' &'NEW' tax amount
The finance ministry in its economic review before the budget has projected Indian economy to grow close to 7% in FY25. The multilateral institution projected Indian economy to grow 6.7% in FY24. The first advance estimate released by the government earlier this month pegged FY24 growth at 7.3%.
