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Expressing optimism over India’s economic growth, Assocham has said that India is likely to remain the fastest-growing major economy in the world in 2024 on the back of strong consumer demand leading to a pick up in investment across sectors such as construction, hospitality and infrastructure including railways and aviation. India retained the tag of the world’s fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing.
The country’s Gross domestic product (GDP) growth of 7.6 per cent beat most estimates, including 6.5 per cent projected by the Reserve Bank of India (RBI). The growth compares to 6.2 per cent in the same quarter last year and 7.8 per cent expansion in the preceding quarter. India’s GDP growth beat China’s 4.9 per cent rise in July-September, while the Western economies are getting crushed under high-interest rates and energy prices.
Assocham Secretary General Deepak Sood said ‘India’s macro picture looks quite convincing with the overall economy following a trend growth of seven per cent with critical building blocks combining to give it brighter prospects’. According to the industry body, India Inc led by financials, construction, hotels, aviation, automobile and other manufacturing areas like electronics are on a strong pitch to further improve performance in the coming year. The trajectory is being helped by the low crude oil prices, keeping inflation in check with a big positive on raw material cost.
It noted ‘Sectors like construction have several related industries which too have gained momentum. These include steel, cement, mining, electricity generation and consumer durables’. It said the macroeconomic indicators including government balance sheet reflected in strong tax collections, record foreign exchange reserves, stability in the rupee against major currencies and signs of revival in merchandise exports are expected to further improve.
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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