The Economic Research Department of the State Bank of India (SBI) has released a detailed research report authored projecting a significant boost in India's economic growth, driven by a recovering global economy. With strong performance across various economic indicators and favorable monsoon conditions, the report anticipates that India's GDP growth could touch 8 per cent in FY24. The report also highlights the potential impact of global economic resilience on India's growth trajectory. Despite the challenges faced by the global economy, including geopolitical tensions and extreme weather events, global growth remains resilient, supported by easing inflationary pressures and strong employment conditions.
SBI's in-house developed Artificial Neural Network (ANN) model, using 30 high-frequency indicators, forecasts Q4 FY24 GDP growth at 7.4 per cent. The report identifies a consistent growth trend across both urban and rural sectors in India. Urban economic momentum is indicated by strong performance in passenger vehicle sales, airport passenger traffic, GST collections, credit card transactions, petroleum consumption, and toll collection. Rural economic indicators also show a positive trend, with diesel consumption and two-wheeler sales increasing. An 'above normal' monsoon forecast bodes well for the rural economy, enhancing the supply of essential commodities like pulses, oilseeds, and cereals.
Corporate India continues to demonstrate resilience, with around 2,400 listed entities reporting strong numbers in Q4 FY24. While top-line growth stood at 9 per cent, EBIDTA increased by approximately 21 per cent. However, there was some pressure on profitability, with PAT growth declining to around 12 per cent from 42 per cent in the previous two quarters. Corporate Gross Value Added (GVA) grew by around 18 per cent in Q4 FY24, showing a slight reduction from previous quarters. With the global economy showing signs of recovery and easing inflationary pressures, India is well-positioned to achieve robust growth.
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.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Claim your FREE 15-day access to the most practical investing handbook.
Hurry, limited to the first 10 users today!
FREE Become a savvy and confident
stock investor.
Hurry, limited to the first 10 users today!
Download APP
