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India registers whopping Q4 FY18 growth rate

“On the domestic front growth should benefit from an acceleration in rural consumption supported by higher minimum support prices and a normal monsoon” Moody’s said

India's GDP continued its upward trend and grew to remain the fastest growing economy in the world beating China which is growing at a pace of 6.8 per cent.

"A sustained rise in oil prices to $100 a barrel could even lead to a re-emergence of some of the external and currency risks that existed pre-2014", said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd.

"These corroborate with FICCI's surveys that reveal an improving outlook on investments".

Moody's said growth should benefit from an acceleration in rural consumption, supported by higher minimum support prices and a normal monsoon.

The private corporate sector growth (which has a share of over 70 per cent in the manufacturing sector) as estimated from available data of listed companies with BSE and NSE was 9 per cent at current prices during 2017-18.

The latest round of FICCI's Economic Outlook Survey conducted by economists from industry, banking and financial service sector, said that the brewing trade tensions between the U.S. and China and protectionist measures by some leading economies may hit the Indian exporters, particularly MSME exporters, in the coming months. "Government consumption growth is also likely to strengthen further this year as the 2019 general election comes onto the horizon".

Four Russian military personnel killed in Syria's Deir al-Zor - Ifax
The fighting erupted after several groups of rebels attacked an artillery battery of the Syrian regime forces, the ministry said. All this could bring Russian Federation and the U.S. to the bloody conflict but pro-Syrian government lost the battle.

Industry chamber Assocham said the GDP estimates in March quarter are in line with the expectations and indicates significant growth recovery.

An Indian Finance Ministry official told CNBC on Monday that estimated growth in the last fiscal year, which ended on March 31, was 6.7 per cent, below 2016/17's pace of 7.1 per cent. The country's economic growth was marginally higher at 6.9 per cent in 2016.

Mining and quarrying did not perform well in January-March as GVA of the segment grew at 2.7 per cent, down from 18.8 per cent in the year-ago period. "The pick-up in investment activity is also a good sign". This registered a growth of more than 14% YoY in Q4FY18, compared to negative growth YOY in the corresponding quarter a year back (Q4FY17).

Oil prices have fallen back in recent days after OPEC and Russian Federation signaled their readiness to start pumping more barrels after a meeting of the cartel next month. We expect these risks to tilt the Reserve Bank of India's current "neutral" stance to "withdrawal of accommodation" at the 6 June policy meeting, followed by rate hikes of 25bp each in the meetings on 1 August and 4 October. Alongside, rising global trade tensions due to the imposition of import tariffs by the United States could moderate global trade growth, tempering Indian exports, analysts said.

The government spending-linked public administration segment's growth rose to 13.3 percent from 7.7 percent in December quarter.

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