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<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>China's crazy growth has been one of the biggest stories over the past several decades.But the Chinese economy certainly isn't the only one posting huge growth rates.We compiled a list of 13 countries with the highest projected compounded annual growth rate (CAGR) from 2014 through 2017 based on the forecasts from the World Bank's <a href="https://www.worldbank.org/en/publication/global-economic-prospects">Global Economic Prospects</a>.Keep in mind that the fastest growing economies typically aren't among the largest, most developed ones. In fact, most of these countries suffer from high income inequality, low levels of per capita gross domestic product, elevated political instability, and rampant corruption.

The 13 fastest-growing economies in the world

Here’s our update of <a href="https://macromon.wordpress.com/2012/11/13/top-30-fastest-and-slowest-growing-economies/" target="_blank">last November’s post</a> of the world’s fastest and slowest growing economies ranked by 2013 <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> growth. The growth estimates and nominal GDP data are from the April <a href="http://www.imf.org/external/pubs/ft/weo/2012/02/index.htm" target="_blank"> IMF World Economic Outlook database</a>.
We still note, the law of small numbers in the growth economies. Excluding China from the Top 40, for example, the 39 fastest growing economies in 2013 have an average size of $78 billion. This contrasts to the slowest growth economies with an average nominal GDP in dollar of $470. Note Germany’s rank as the 23rd slowest growth economy. Furthermore, 5 of top 11 slowest economies are eurozone countries.
Similar to stocks, growth is, generally, in the “small cap” countries.
<div class="image-container" style="width:630px"><div class="image"></div><a href="http://macromon.wordpress.com/2013/05/02/worlds-fastest-slowest-growing-economies/">Global Macro Monitor</a></div>
<div class="image-container" style="width:630px"><div class="image"></div><a href="http://macromon.wordpress.com/2013/05/02/worlds-fastest-slowest-growing-economies/">Global Macro Monitor</a></div>
Read more posts on <a href="http://macromon.wordpress.com/">Global Macro Monitor »</a>

Here Are The World's Fastest And Slowest Growing Economies

Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy. Sitharaman had in her first Budget in 2019 replaced leather briefcase -- which had been in used for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth. Budget 2023-24 would be in paperless form, as done in the last two years, and would be available on the 'Union Budget Mobile App' for hassle-free access by Members of Parliament (MPs) and the general public. Here are the key numbers to watch for in Budget 2023-24, which is widely expected to boost spending towards policies that create jobs, leave more money in hands of the common man and boost manufacturing, while increasing tax revenues. * <keyword id="6365485" type="General" weightage="20" keywordseo="Fiscal-Deficit" source="Orion">Fiscal Deficit</keyword>: The budgeted fiscal deficit, which is the difference between the government expenditure and income, for the current fiscal ending March 2023 is 6.4 per cent, against 6.71 per cent in the last fiscal. The number for 2023-24 would be in focus as it is widely expected that the government would open its purse strings in an election year. * Disinvestment/Privatisation: In current fiscal year the budgeted disinvestment target is likely to be missed, like the past four years. It is expected the government would set a realistic target for next fiscal. * <keyword id="112324" type="General" weightage="20" keywordseo="Capital-Expenditure" source="Orion">Capital Expenditure</keyword>: The government's planned capital expenditure for this fiscal year is budgeted at Rs 7.5 lakh crore, higher than Rs 5.5 lakh crore in the last fiscal. The government has been pushing infrastructure creation and also incentivising states to step up capex. * Tax Revenue: The Budget had pegged direct and indirect tax mop-up at Rs 14.20 lakh crore and Rs 13.30 lakh crore for current fiscal, taking the total figure to Rs 27.50 lakh crore. The government's tax revenues are expected to overshoot the budget estimates by about Rs 4 lakh crore on buoyant income tax and customs duty. * <keyword id="6370254" type="General" weightage="20" keywordseo="Borrowing" source="Orion">Borrowing</keyword>: The government's gross borrowing budget was at Rs 14.31 lakh crore in current financial year ending March 31. The government borrows from the market to fund its fiscal deficit and with tax revenues seeing an uptick, the government has cut its gross borrowings by Rs 10,000 crore to Rs 14.21 lakh crore. The borrowing number would be watched by the market, especially on the back of expected higher capital expenditures to boost growth. * <keyword id="3236955" type="General" weightage="20" keywordseo="Nominal-GDP" source="Orion">Nominal GDP</keyword>: India's nominal GDP growth (real GDP plus inflation) in the current fiscal is estimated to be 15.4 per cent. The numbers for next fiscal would be lower as the inflation has come down. The Budget is expected to give an outline on the nominal GDP growth numbers. Real GDP growth in current fiscal is projected at 7 per cent and come down to 6-6.5 per cent in the next. * Spotlight would also be on spending on key schemes, like NREGA, as well as key sectors like health and education.

Budget for world's fastest growing economy: Key numbers to be watched

<ul class="summary-list"><li>Real GDP rose 4.9% at an annualized rate in the third quarter.</li><li>That greatly surpasses the roughly 2% seen in both the first and second quarter of this year.</li></ul>The US economy saw much higher <a href="https://www.businessinsider.com/personal-finance/what-is-gdp">GDP</a> growth in the third quarter than the first two quarters of the year.Real gross domestic product, or real GDP, rose at an annualized rate of 4.9%, according to the advance estimate for the third quarter from the <a href="https://www.bea.gov/data/gdp/gross-domestic-product">Bureau of Economic Analysis</a>. This increase is above the <a href="https://www.investing.com/economic-calendar/gdp-375" target="_blank" rel="noopener">forecast</a> of 4.3%. The advance estimate suggests much stronger growth than the roughly 2% rates seen in the first and second quarters of the year.Real personal consumption expenditures rose 4.0%, quicker than the 0.8% in the second quarter, based on seasonally adjusted data at annual rates. Meanwhile, real fixed investments slowed from 5.2% in the second quarter to 0.8% in the third quarter."The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, and residential fixed investment that were partly offset by a decrease in nonresidential fixed investment," a <a href="https://www.bea.gov/news/2023/gross-domestic-product-third-quarter-2023-advance-estimate" target="_blank" rel="noopener">news release</a> about the new data said. "Imports, which are a subtraction in the calculation of GDP, increased."The Biden Administration celebrated the robust economic growth. Joelle Gamble, deputy director of the White House National Economic Council, told Insider recent GDP reports have shown robust growth — with consumer spending and manufacturing investments as two areas supporting this — while inflation is cooling.Gamble also said that both the US economy and workers are resilient."I think the bottom line here is that we're seeing an economy that is growing strong, that is growing from the middle out and the bottom up, not the top down," Gamble said.But despite the growth, Gregory Daco, EY chief economist, said in commentary that while the "signs of economic strength will fuel speculations that the economy is reaccelerating, we do not expect such strong momentum will be sustained.""Cost fatigue, rising debt servicing costs and slowing job growth are about to be felt more widely by consumers and businesses," Daco said. "In that regard, the broad-based pullback in business equipment investment is a cautionary tale."While the advance estimate and the results for the first two quarters show strong GDP growth, some experts believe a <a href="https://www.businessinsider.com/recession-outlook-us-economy-rising-risks-3-warning-signs-gdp-2023-10">recession</a> is coming — even if they expect it will not be severe.For example, The Conference Board is predicting a mild downturn next year."While the prospects for a 'soft landing' have risen, The Conference Board believes it is more probable that the US economy will slip into a short and shallow recession in early 2024," a <a href="https://www.conference-board.org/research/economy-watch-US/Economy-Watch-October-2023-US" target="_blank" rel="noopener">brief</a> said. The brief noted that "as the economy cools in early 2024 so too will the labor market." The <a href="https://www.businessinsider.com/jobs-unemployment-rate-labor-market-september-report-2023-10">US labor market</a> added 336,000 jobs in September after a revised gain of 227,000 in August. Larry Adam of Raymond James also said in a recent <a href="https://www.raymondjames.com/commentary-and-insights/larry-adam/2023/10/20/weekly-investment-strategy" target="_blank" rel="noopener">note</a> that "growth will be much slower over the next nine months and lead to a mild recession." One reason for this is the <a href="https://www.businessinsider.com/recession-outlook-strong-q3-gdp-growth-forecast-q4-economic-warning-2023-10">increasing headwinds that consumers</a> are facing.Although there may be some concerns of a mild recession, a recent <a href="https://www.bankrate.com/banking/federal-reserve/economic-indicator-survey-recession-risks-october-2023/" target="_blank" rel="noopener">post about the results of Bankrate's quarterly survey of economists</a> noted that the chance of a recession based on the average forecast among respondents has declined from 65% from the third quarter of 2022 to 46% from the third quarter this year.

The US economy is growing at the fastest pace in 2 years

<ul><li><keyword id="6355408" type="DEFINITION" weightage="20" keywordseo="imf">IMF</keyword> has revised down its earlier projection of 7.4% growth to 7.3% given the recent increase in global oil prices and tightening global financial conditions.</li><li>China’s growth rate also lowered to 6.6% in 2018 and 6.2% in 2019.</li><li>IMF warns rising fuel prices and weak rupee expected to increase inflation to 4.7%.</li></ul>The International Monetary Fund (IMF) has said <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> should grow at 7.3% in 2018-2019, up from 6.7% last year but lower than its earlier projection earlier this year. In April, IMF had projected India’s growth rate to be at 7.4%, which it has now revised down given the recent increase in global oil prices and tightening global financial conditions, IMF has said in its <keyword id="188983" type="COMPANY" weightage="20" keywordseo="World-Economic-Outlook">World Economic Outlook</keyword> report. For 2019-20, India’s growth is projected to be at about 7.4%, on the back of the rebound from the shocks of demonetisation and the goods and <keyword id="16056" type="DOMAIN" weightage="20" keywordseo="Services">services</keyword> tax (GST), and improving private consumption and investment climate. In comparison, China is <a href="http://timesofindia.indiatimes.com/articleshow/66127502.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst">expected </a>to grow at 6.6% in 2018 and 6.2% in 2019. China’s growth projections have been lowered in part due to the impact of US tariffs hitting Chinese exports and slowing external demand growth and financial regulatory tightening, according to the report. China was the fastest growing economy in the world in 2017. According to India’s central bank the Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword>, in 2018-19, India’s GDP is expected to grow at 7.4%, a figure the Indian government said it would <a href="https://economictimes.indiatimes.com/news/economy/policy/indias-gdp-growth-may-exceed-rbis-projection-of-7-4-pc-in-fy19-economic-affairs-secretary/articleshow/66088355.cms">exceed.</a> IMF has said that India’s medium-term growth prospects are strong at 7.75% attributable to structural reforms. Inflation warning However, the recent hike in oil prices and weakening rupee is expected to affect India’s inflation numbers, according to IMF, which has called for a tighter <keyword id="6357126" type="DEFINITION" weightage="20" keywordseo="Monetary-Policy">monetary policy</keyword>. IMF has warned that India’s inflation rate is expected to increase to 4.7% in 2018-19 compared to 4.5% in 2016-17 because of rising fuel prices and accelerating demand. Comparing India to trends in Argentina, IMF has<a href="https://www.livemint.com/Politics/4PjFOlGdpYMX8vwbWFIDZK/IMF-keeps-Indias-growth-forecast-for-201819-unchanged-se.html"> urged </a>India to “re-anchor expectations” where inflation continues to be high and increasing higher due to a sharp currency depreciation. Last week, RBI’s <keyword id="6375120" type="COMPANY" weightage="20" keywordseo="monetary-policy-committee">monetary policy committee</keyword> (MPC) kept interest rates <a href="https://www.businessinsider.in/reserve-bank-of-india-surprises-all-by-keeping-interest-rates-unchanged/articleshow/66086453.cms">unchanged</a> at 6.5% partly on expectation that inflation was manageable, preferring instead a “calibrated tightening of monetary policy.”

IMF predicts India will grow faster than China in 2018 to regain the fastest-growing economy tag

<ul><li>On Friday, the Central Statistics Office (CSO) in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> stated that the Indian economy has grown by 8.2% during <keyword id="6846461" type="UNKNOWN" weightage="20" keywordseo="Q1-2018">Q1 2018</keyword>. </li><li>While this may make India the <keyword id="104231" type="PERSON" weightage="20" keywordseo="fastest-growing-economy">fastest growing economy</keyword> in the world at present, the added benefits of a growing economy are not at par with that pace. </li><li>That being said, the growth numbers for India has resulted in a stronger rupee since the markets opened today morning.</li></ul>While the International Monetary Fund may have <a href="https://www.businessinsider.in/why-the-imf-revised-indias-growth-projection-and-why-it-doesnt-matter/articleshow/65024850.cms">revised</a> its estimates for India’s growth this year, the Central Statistics Office (CSO) <a href="https://www.bloomberg.com/news/articles/2018-08-31/india-s-economic-growth-continues-world-beating-pace-at-8-2">announced</a> that the Indian economy grew by 8.2% between the months of April to June. This puts India at the helm as the world’s fasting growing economy beating China’s top spot., which witnessed a growth of 6.7%. The Finance Minister tweeted that the reforms put in place by government as well as the fiscal prudence shown by the regulators that are allowing the economy to grow even in the midst of global turmoil. That being said, overtaking China might have a lot to do with the ongoing <a href="https://www.businessinsider.in/indian-products-can-be-more-competitive-in-the-shadow-of-the-us-china-trade-war/articleshow/65294615.cms">trade war</a> between the Asian nation and the United States. 
	
	<div type="twitter" handle="arunjaitley" handlename="Arun Jaitley" image="http://pbs.twimg.com/profile_images/378800000828197225/f1d53aeab8f0534c7d73b0fbd5651130_normal.png" favoritecount="13245" retweetcount="3372" status="India’s GDP for the first quarter this year growing at 8.2% in otherwise an environment of global turmoil represent… https://t.co/1aVLJCOifl" createdat="1535725757000" id="1035534996877049856"></div>





 
	
	<div type="twitter" handle="arunjaitley" handlename="Arun Jaitley" image="http://pbs.twimg.com/profile_images/378800000828197225/f1d53aeab8f0534c7d73b0fbd5651130_normal.png" favoritecount="3314" retweetcount="596" status="Reforms and fiscal prudence are serving us well. India is witnessing an expansion of the neo middle class." createdat="1535725836000" id="1035535329036525569"></div>





 The Economics Affairs Secretary, Subhash Chandra Garg, stated that India seems to be on track in its goal of meeting more than 7.5% growth for FY2018-19. 
	
	<div type="twitter" handle="SecretaryDEA" handlename="Subhash Chandra Garg" image="http://pbs.twimg.com/profile_images/893364676943241217/sYceriFF_normal.jpg" favoritecount="338" retweetcount="83" status="Excellent growth performance in I qrtr. 8.2% overall growth, 13.5% growth in manufacturing and over 10% in capital… https://t.co/0MGgQHxxWh" createdat="1535723306000" id="1035524719074635776"></div>





 The driving forces behind this growth are the country’s manufacturing and the consistent increase in the demand of consumption goods. A report <a href="https://www.businessinsider.in/local-phone-manufacturing-saves-india-3-trillion-through-make-in-india/articleshow/65517201.cms">published</a> by the Indian Cellular and Electronics Association (ICEA) analysed that the import substitution of cell phone manufacturing results in saving of ₹3 trillion for India. Growth without the benefits The main benefits of a growing economy, in theory, are employment generation, higher living standards, stimulating new investments, and a greater fiscal dividend. But the fact of the matter is that despite growth, the positive externalities are yet to present themselves. It’s not that jobs aren’t being created or that investments aren’t increasing, but their pace is at parity with the growth trajectory. The most recent report by the<a href="https://www.businessinsider.in/indias-wage-growth-significantly-trails-economic-growth-says-the-ilo/articleshow/65488218.cms"> International Labour Organisation (ILO)</a> highlights how India’s growth hasn’t been inclusive with a gaping rural-urban divide as well as a gender-wage inequality. And, speaking of <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI), while there has been a steady increase, it’s important to remember that it’s largely <a href="https://www.bloombergquint.com/opinion/2018/05/18/where-is-all-the-fdi-into-india-really-coming-from-and-going-to#gs.hYSow9Y">due to</a> ‘preferential’ tax treaties between India and countries like Mauritius and Singapore. The top three sectors to gain from FDI have been services, telecommunications and computer services. While long-term benefits are yet to pick their pace, in the short run we can see that the rupee has already <a href="https://www.livemint.com/Money/PzIU47dwgmmKyIS2L8WdDP/Rupee-strengthens-against-US-dollar-after-GDP-beats-estimate.html">strengthened</a> against the dollar since the news of India’s growth broke on Friday. It has increased to trading at ₹70.84 a dollar from ₹71 a dollar at market opening on Monday.

India overtakes China to become the world’s fastest growing economy in Q1 2018

India is poised to remain the fastest-growing major economy in 2024-25, Chief Economic Adviser V Anantha Nageswaran said in a press conference after the tabling of the <keyword id="20613906" type="General" weightage="20" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> in the Parliament on Monday. The Economic Survey tabled today projected India to grow at 6.5-7.0 per cent in 2024-25. Global institutions, including <keyword id="19896779" type="General" weightage="20" keywordseo="IMF" source="keywords" meta.keywordsubtype="org" meta.entityname="IMF" meta.hostid="261" meta.entityid="IMF">IMF</keyword>, OECD, World Bank, S&amp;P, ADB, and Fitch, have projected India to grow in a range of 6.6-7.2 per cent. The International Monetary Fund (IMF), in its latest outlook, has raised India's growth projections for 2024 from 6.8 per cent earlier to 7 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies. According to official data of the Indian government, the country's GDP grew at an impressive 8.2 per cent during the financial year 2023-24. India's economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22 respectively. Further, the CEA in his press conference projected that India's <keyword id="20089672" type="General" weightage="20" keywordseo="per-capita-income" source="keywords">per capita income</keyword> is expected to increase from around Rs 2 lakh in 2022-23 to Rs 14.9 lakh in 2046-47. Further, CEA said <keyword id="20751315" type="General" weightage="20" keywordseo="household-savings" source="keywords">household savings</keyword> of Indians in physical assets have been increasing over the past three financial years through 2023-24. The CEA, addressing the press conference, said household savings in physical assets rose from 8 per cent in 2020-21 to 12.9 per cent in 2022-23. "Households are not in distress, they are investing in <keyword id="20792385" type="General" weightage="20" keywordseo="financial-assets" source="keywords">financial assets</keyword> that have done very well. Financial assets of households are not marked to market so households are doing quite well in the aggregate," he said. India needs both banks and capital markets to provide the required finances sourced from a sustained high level of household savings, according to the Survey. <keyword id="20385790" type="General" weightage="20" keywordseo="Union-Finance-Minister" source="keywords">Union Finance Minister</keyword> Nirmala Sitharaman on Monday tabled the economic survey in Parliament, a day ahead of the full Budget presentation for 2024-25. The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser, gives insights into the state of the economy and various indicators of 2023-24 (April-March) and some outlook for the current year. The Economy Survey document also gave some idea about the tone and texture of the actual Budget for 2024-25, to be presented on Tuesday. (ANI)

India to remain fastest growing major economy in 2024-25, says CEA Nageswaran

<ul><li>India’s economy grew by 7.7% in the quarter that ended on March 2018, the highest rate in seven quarters. </li><li>However, a major reason for this growth is due to the fact that the quarter was measured against the same quarter in 2017, when growth fell to 6.1% because of demonetisation. </li><li>India’s overall growth rate for 2017-18 came in at 6.7%, just a shade above original estimates of 6.6%</li></ul> A day after Moody’s <a href="https://www.businessinsider.in/indias-gdp-growth-forecast-just-got-downgraded-by-moodys-heres-why-that-matters/articleshow/64397592.cms">downgraded its forecast</a> for India’s growth in the current fiscal year to 7.3% from 7.5%, India’s <keyword id="188322" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Statistics">Ministry of Statistics</keyword> released its <a href="http://www.mospi.gov.in/sites/default/files/press_release/nad_PR_31may18.pdf">provisional growth estimates</a> for the last quarter of 2017-18. And the results - which were above expectations - caused market prognosticators to rejoice and stock-markets to surge. With a growth of 7.7% in the three months that ended 31 March, India recorded its highest growth rate in seven quarters and retained the title of the world’s fastest growing economy from China, which grew by 6.8% in the same period. This also marked a significant rebound from the first quarter of fiscal 2018, when the growth rate plummeted to 5.7%. The strong growth was largely a combination of three factors - a pickup in manufacturing, construction and agriculture. A welcome development, but hardly a game-changer After months of bad news, rising oil prices, outflows of foreign funds and depressed expectations of the economy, the figures were a welcome development. However, a major reason for this growth is due to way quarterly growth rates are calculated. Quarterly growth in any given year is measured against the gross production figures in the same quarter of the previous year. The last quarter of 2017-18 had the fortunate distinction of being measured against the first three months of 2017 - the quarter that followed the government’s demonetisation announcement. Growth in the last quarter of 2016-17 fell to 6.1% as consumption declined and businesses, especially SMEs, grappled with the effects of demonetisation. Additionally, the news has no bearing on India’s growth in the current fiscal year, which will likely take a hit as oil prices increase further, the current account deficit worsens and lending to businesses remain sluggish. Further still, India’s overall growth rate for 2017-18 came in at 6.7%, just a shade above original estimates of 6.6%. So, the strong growth in the last quarter didn’t change the big picture much. The overall growth rate was still the lowest annual growth in <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> seen in India since the current government came to power in 2014. Fiscal deficit in control India’s growth in the last quarter of 2017-18 was also lifted by a 14.7% rise in the central government’s expenditure, partly owing to higher spending on defence and public services. However, the government still managed to roughly satisfy its fiscal deficit target of 3.5% of GDP. The fiscal deficit, or the difference between government expenditure and revenues, came in at ₹5.92 trillion, just a inch over 3.5% of the GDP. It was helped in this regard by a dividend handout from the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) and the proceeds from its disinvestment programme. It also cut down its capital expenditure. The target<a href="https://www.livemint.com/Politics/yJhWieTtggf52ZwdEDHLLN/Fiscal-deficit-goal-revised-to-boost-spending.html"> was increased from 3.2% of GDP</a> earlier this year by Finance Minister Arun <keyword id="6390789" type="PERSON" weightage="20" keywordseo="jaitley">Jaitley</keyword> in his <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> to account for a shortfall in tax receipts as a result of the implementation of the goods and services tax (GST) in July 2017. The government is, however, hoping to reduce its fiscal deficit to 3.3% of GDP in the current fiscal year. Rate hike? India’s year-end growth figures will likely give the RBI the confidence it needs to increase interest rates when its monetary policy committee meets next week. The rise in oil prices has led to an increase in inflation, while foreign funds have left the country in search of higher and safer returns elsewhere. A hike in interest rates will prevent a further increase in outflows and could even help stem the rupee’s depreciation. The RBI decided <a href="https://www.businessinsider.in/the-reserve-bank-of-india-left-rates-unchanged-because-like-us-its-uncertain-about-a-lot-of-things/articleshow/63644188.cms">to keep interest rates on hold </a>at its last meeting in April due to concerns over India’s growth and expectations that the inflation rate would decline. Now, with rebounding growth, improving demand and rising prices, it will strongly consider a rate hike. As things stand, however, India’s economy is still not in the clear. A number of serious headwinds loom in the short-term. It will be interesting to see what India’s growth rate in the first quarter of fiscal 2019 ends up being. Given that the growth rate in the first quarter of fiscal 2018 fell to a three-year low of 5.7%, however, the growth rate in the current quarter will likely exceed expectations.

India was the world's fastest growing economy for first 3 months of 2018, but there’s a catch

Singapore-based fund house, Bank <keyword id="234253" type="COMPANY" weightage="20" keywordseo="Julius-Baer">Julius Baer</keyword>, has upgraded <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> to overweight as it will be the fastest growing major economy in 2021. "We change our stance on India from market-weight to overweight and see 15% upside from current levels with a Sensex price target of 58,450," it said in a note. "An economic recovery is underway, and we look for 9% y/y GDP growth this year, followed by 7% next year. We look for earnings per share to grow on average over 25% over the next 3 years. It would be unprecedented for the stock market to fall in an environment of such strong growth," it added. Scientists think "herd immunity" has been achieved in large parts of the country, which would explain why daily new cases have fallen from almost 100,000 in September to less than 15,000 presently. Lockdowns are imposed still in specific areas that experience Covid outbreaks, but high frequency data shows that has not stopped a continuous recovery following the nation-wide lockdown from March to July of last year. For example, anonymized data gathered shows the mobility of people using Android-based smartphones is almost back to pre-Covid levels, it added. An Initial Pub<keyword id="6367143" type="COMPANY" weightage="20" keywordseo="LIC">lic</keyword> Offering of LIC, India's largest insurer with $464 billion in assets, is planned for the second half of FY2022. The divestment of this company in particular will enable the government to manage its fiscal position. The budget has set up a special purpose vehicle to sell the <keyword id="50573" type="PERSON" weightage="20" keywordseo="Idle">idle</keyword>/non-core assets (especially land) of SOEs. Much of the idle land is well-situated and could be made productive, benefiting economic growth. Divestment of LIC and <keyword id="44555" type="DOMAIN" weightage="20" keywordseo="BPCL">BPCL</keyword> remains the key to meet the fiscal deficit target without compromising spending in FY22E, the research said. With only the brief exception at the bottom of the <keyword id="83197" type="ORGANIZATION" weightage="20" keywordseo="Global-financial-crisis">Global Financial Crisis</keyword>, in recent history India's stock market has always traded at a premium to its emerging market counterparts. The current premium of 40% is around the long-term average, it added SEE ALSO: <a href="https://www.businessinsider.in/careers/news/check-out-all-the-hiring-opportunities-in-2021-in-india/slidelist/81343839.cms">A whole host of jobs, from government to private to foreign companies in India, are opening up ⁠— here’s a look at some of those</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-the-worlds-top-food-delivery-companies-indias-zomato-and-swiggy-have-a-long-way-to-go-as-compared-to-their-global-counterparts-like-doordash-or-meituan/slidelist/81344728.cms">These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-has-outperformed-its-peers-in-the-last-one-year-but-analysts-are-still-cautious-about-giving-it-a-buy-rating/articleshow/81345564.cms">Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating</a>

Julius Baer upgrades India to overweight as fastest growing major economy in 2021

<ul class="summary-list"><li>Warren Buffett is set to indirectly bet on Guyana, a tiny country undergoing a historic oil boom.</li><li>Buffett's Berkshire Hathaway owns about 6% of Chevron, which agreed to buy rival Hess this week.</li></ul>Warren Buffett is set to gain indirect exposure to the tiny country of Guyana, the world's fastest-growing economy and an emerging oil superpower, thanks to <a href="https://markets.businessinsider.com/stocks/cvx-stock">Chevron</a>'s planned acquisition of <a href="https://markets.businessinsider.com/stocks/hes-stock">Hess</a>.The oil-and-gas explorer and producer announced a deal this week to buy its smaller rival for $53 billion worth of stock. Hess's portfolio includes a 30% stake in the Stabroek Block, an oil reservoir off the coast of Guyana where operator Exxon Mobil has discovered the equivalent of more than 11 billion barrels of oil so far.In a <a href="https://www.chevron.com/newsroom/2023/q4/chevron-announces-agreement-to-acquire-hess" target="_blank" rel="noopener">press release</a>, Chevron hailed the oilfield as an "extraordinary asset with industry leading cash margins and low carbon intensity that is expected to deliver production growth into the next decade."Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> conglomerate owned 123 million Chevron shares as of <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-homebuilders-stock-portfolio-q2-regional-banks-2023-8">June 30</a>, giving it a 6.4% stake in the energy giant. The position is worth about $20 billion, based on Chevron's current stock price and assuming Berkshire didn't alter its position last quarter.As a result, the famed investor's company stands to gain from the Chevron-Hess merger and the profits it generates from Guyana, if they boost the value of Chevron stock or the company returns them to shareholders via dividends or buybacks.The rush to tap Guyana's oil reserves, and develop the South American nation into one of the world's largest crude producers, helped fuel unmatched real GDP growth of 62% in 2022, <a href="https://www.imf.org/en/News/Articles/2023/09/11/cs91123-guyana-staff-concluding-statement-of-the-2023-article-iv-mission#:~:text=The%20Guyanese%20economy%20continues%20to,in%202023%20(38%20percent)." target="_blank" rel="noopener">per the International Monetary Fund</a>.The fledgling petrostate is set to grow another 38% this year to about $16 billion in annual GDP — roughly one-seventh of Buffett's <a href="https://www.bloomberg.com/billionaires/" target="_blank" rel="noopener">personal net worth</a> of $113 billion.Guyana — home to a mere 800,000 people — is forecasted to produce 400,000 barrels a day this year and 1.2 million by 2028, or 1.2% of the global supply, <a href="https://www.iea.org/news/growth-in-global-oil-demand-is-set-to-slow-significantly-by-2028" target="_blank" rel="noopener">per the International Energy Agency</a>.If Berkshire doesn't raise its Chevron stake, it's set to be diluted to 5.5% as a result of the company issuing about 317 million shares to fund its agreed transaction. Hess shareholders are set to receive 1.0250 Chevron shares for each of their shares.It's worth emphasizing that Chevron is just one stock in Buffett's roughly $350 billion equity portfolio, which itself accounts for just over a third of Berkshire's <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-trillion-assets-big-tech-tesla-nvidia-2023-8">$1 trillion of assets</a>. However, Chevron was one of its five largest stock positions <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bargains-stock-portfolio-buybacks-berkshire-hathaway-q2-earnings-2023-8">last quarter</a>, and Berkshire owns a sizeable stake in the group. As a result, Buffett will likely be paying close attention to the Hess deal and the Guyana venture, given he's poised to have a not-insignificant amount of money riding on it.

Warren Buffett is set to indirectly bet on a tiny nation that's the world's fastest-growing economy and an emerging oil superpower

As India is emerging as one of the fastest growing economies, a number of industry are throwing up opportunities but only for certain <keyword id="7516860" type="UNKNOWN" weightage="20" keywordseo="in-demand-skills">in-demand skills</keyword> . According to a report by LinkedIn, soft skills have been the most sought after by companies looking to hire quality talent. Across sectors, management and technical skills have been the top priority for employers as well as working professionals. Here are the fastest growing industries and their in-demand skills: <div type="Slideshow" msid="68818499" hostid="261" title="Here are the most in-demand skills in the fastest growing industries in India, according to LinkedIn" firstImageMsid="68818501" slideCount="5"></div>

Here are the most in-demand skills in the fastest growing industries in India, according to LinkedIn

<a href="https://www.oxfordeconomics.com/recent-releases/7fa5c39e-6603-433c-9e59-9dd928fa2415" data-type="tilCustomLink">study</a>(Photo Source: wikimedia.org)<ul><li>Over 17 of the 20 fastest-growing cities across the globe through 2035 will be Indian, said a report by <keyword id="637984" type="ORGANIZATION" weightage="20" keywordseo="Oxford-Economics">Oxford Economics</keyword>. </li><li>Surat, a commercial center for textiles in Gujarat, will witness the fastest <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> growth, by an average exceeding 9% year-on-year. </li><li>However, in comparison to the world’s biggest metropolises, <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>’s economic output is expected to remain small. </li></ul>Indian cities will make up most of the fastest-growing cities in the world between 2019 and 2035, considering the year-on-year Gross Domestic Product (GDP) growth, said a report by Oxford Economics. Over 17 of the 20 top cities on the list will be Indian. The report said that Indian cities including Bengaluru, Hyderabad, and Chennai will be among the strongest performers across the globe. <a href="https://www.bloomberg.com/news/articles/2018-12-05/india-claims-top-ten-in-list-of-world-s-fastest-growing-cities">According to a Bloomberg report</a> that cited Richard Holt, Oxford’s head of global cities research, India will dominate the top 10 cities in terms of economic growth over the span of 20 years. Surat, a commercial center for textiles in Gujarat, will witness the fastest GDP growth by an average exceeding 9%. The top 10 cities to make up to the fastest growing cities globally include Surat (9.17%), Agra (8.58%), Bengaluru (8.5%), Hyderabad (8.47%), Nagpur (8.41%), Tirupur (8.36%), Rajkot (8.33%), Tiruchirappalli (8.29%), Chennai (8.17%) and Vijayawada (8.16%). However, in comparison to the world’s biggest metropolises, India’s economic output is expected to remain small. On the flip side, when it comes to the total size of the economies, New York will continue to be the largest urban economy due to its growing finance &amp; business service sector. While Tokyo and Los Angeles follow at second and third position, respectively. Come 2027, the aggregate GDP of all Asian cities will exceed the combined GDP of all North American and European cities, with a significant rise of 17% by 2035, said the report. The Oxford Economics also revealed that, over the period 2019-2035, the cities will lead the growth of global economy, with the global economy growing by an average of 2.6% a year. SEE ALSO: <a href="https://www.businessinsider.in/indias-q2-gdp-growth-slows-to-7-1-from-8-2-in-previous-quarter/articleshow/66883370.cms">India's Q2 GDP growth slows to 7.1% from 8.2% in previous quarter</a> <a href="https://www.businessinsider.in/indian-government-may-not-meet-its-fiscal-deficit-target-because-of-lower-tax-collections-india-ratings/articleshow/66824092.cms">Indian government may not meet its fiscal deficit target because of lower tax collections: India Ratings</a> <a href="https://www.businessinsider.in/indias-markets-regulator-could-soon-allow-the-direct-listing-of-indian-companies-on-foreign-stock-exchanges/articleshow/66951201.cms">India’s markets regulator could soon allow the direct listing of Indian companies on foreign stock exchanges</a>

You Searched For "fastest growing economy" and got 12 results

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