Hi yāall. How did you guys celebrate your Independence Day? We took the day off, but weāre back with more energy and interesting founder stories. But, letās start our day with some positive thoughts:
"Opportunities don't happen. You create themā
Knowing that youāre responsible for creating your own opportunities cultivates resilience and motivation. It pushes you to take action rather than passively waiting for circumstances to change. This mindset can boost your confidence in taking on challenges. Even if things donāt go as planned, you learn and adapt.
So, now letās get startedā¦
šÆ Top Headlines of the Day
The Nifty 50 is projected to climb 11-13% over the next 12 months
Bharat is poised to become the worldās 3rd largest economy by 2027
'Stree 2' kicked off strong with a solid Rs 46 crore net at the box office
š Market Pulse
If youāre in the mood for investing today, here are some stocks that you should consider:
However, you should also keep a tab on the stocks that are falling today:
On our way to becoming the 3rd largest economy by 2027
Dr. Gita Gopinath, the First Deputy Managing Director of the IMF, has indicated that Bharat is set to become the worldās third-largest economy by 2027. This optimistic projection is based on several key data points and economic indicators:
Bharatās economic growth has surpassed initial expectations, prompting a revision of forecasts. The countryās performance in the last fiscal year was stronger than anticipated, with continued positive effects influencing current economic predictions.The recovery in private consumption is a significant factor. Data shows a rebound in consumer spending, particularly in rural areas, which has been a major driver of economic growth. This is evidenced by increased sales in fast-moving consumer goods (FMCG) and two-wheelers, reflecting improved consumer confidence and spending.Favorable monsoon conditions have contributed to better agricultural outcomes. Improved harvests are expected to boost agricultural incomes, which in turn is anticipated to further stimulate rural consumption and economic activity.The IMF has adjusted its growth forecast for Bharat for the 2024-25 financial year to 7%, up from earlier estimates.But, we would suggest not getting your hopes high, as there are several obstacles between our goals. Here are some challenges ahead of us š
Despite a push for higher capital formation, private sector investment has been underwhelming. Private investment dropped sharply from over ā¹14 lakh crore (US$168.6 billion) in February 2023 to below ā¹2 lakh crore (US$24.1 billion) in October 2023, with a slight recovery to ā¹2.2 lakh crore (US$26.5 billion) in December 2023. This lack of engagement contrasts with the Finance Ministerās expectation that public investment would stimulate private investment.Gross FDI inflows decreased by about 4% between April and November 2023 compared to the same period in 2022. This decline is less severe than the 12% drop experienced by developing countries globally, but it still highlights a reduction in foreign investor confidence. The significant reduction in FDI poses concerns, especially given the context of a nearly 29% increase in disinvestment year-on-year.The growth of agriculture and allied sectors slowed dramatically to less than 2% in the 2022ā23 fiscal year, a sharp decline from the previous year's growth. This stagnation is attributed to uncertain weather conditions, including uneven rainfall distribution. A continued slowdown in these sectors is troubling as it affects farm incomes and overall demand, impacting other economic sectors.Inflation remains a pressing issue. The government projects retail headline inflation to rise to 5.4% in 2024, up from around 4% in 2023. The Reserve Bank of Bharat has expressed concerns that inflation may stay above its 4% target, with food price inflation reaching 9.5% in December 2023, compared to 4.2% a year earlier.Although the manufacturing sector is projected to grow by 6.5% in 2023ā24, certain industries have faced declines. Output in the apparel industry dropped by over 20%, and the production of computer, electronic, and optical products fell by over 15%. These declines are concerning given the government's aim to position Bharat as a hub for technologically advanced manufacturing.The data proves that thereās a lot of work to be done. Another thing,
ā ļø Hold UP
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Thatās it for today, folks! We will be back again next week with more valuable insights about āBharat in Business.ā Till then, stay informed and keep hoping š¤
