Expressing optimism over India’s growth prospects, Chief Economic Advisor V Anantha Nageswaran has said the Gross Domestic Product (GDP) numbers are “strong” and good momentum in economic activities is likely to continue in the fourth quarter (Q4). He also said that the agriculture sector, which recorded a decline of 0.8 per cent in the third quarter, will rebound in the next financial year. India's economic growth accelerated to 8.4 per cent in the October-December quarter of this fiscal, mainly due to double-digit growth in manufacturing and good showing by mining and quarrying and construction sectors.
Nageswaran said ‘So the actual performance of the economy has continued to defy expectations and do better than what many had projected underscoring the fact that a structural transformation of the economy is indeed underway, both in terms of physical infrastructure and digital infrastructure as well as inclusion agenda, boosting the purchasing power of Indian households...’. On the agriculture sector, he said prospects of healthy rabi harvesting, and expectations of the fading away of El Nino and the forecast of a normal monsoon bodes well for a better-than-normal kharif sowing.
He further said that improvement in household consumption, bright prospects for capital formation owing to an upturn in the private capex cycle, improved business sentiments, healthy balance sheets of corporates, and the government’s continued thrust on capital expenditure will drive growth. He also noted that while growth prospects appear bright external factors pose a downside risk. He further said that uncertainty prevails over merchandise trade, with WTO slashing its projection for world trade growth in 2023 by half to 0.8 per cent from its earlier estimate of 1.7 per cent in April. He added prolonged geo-political uncertainty and tightened financial conditions also pose a challenge to the growth outlook.
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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