Expressing optimism over the India’s economic growth prospects, Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister of India, has forecasted reaching a $4 trillion Gross Domestic Product (GDP) milestone this year, outpacing global growth rates. Currently, in US dollar terms, India is the fifth largest economy with a size of about $3.7 trillion in nominal terms.
He highlighted India’s ambitious goal to surpass the $4 trillion GDP mark and solidify its position as the world’s fastest-growing economy. He stated ‘This year, India’s GDP will reach $4 trillion, putting us on par with Japan in terms of economic size. We continue to lead as the world’s fastest-growing economy by a significant margin. Last year, our growth rate surprised us at 8.2 per cent, and we anticipate over 7 per cent growth this year, outpacing all major economies’. He emphasized the compounding effects of India’s growth rate, noting the rapid pace at which economic milestones have been achieved.
Sanyal said ‘After liberalization, it took us 16-17 years to cross the first trillion dollars mark. It took another 7 years to reach the 2 trillion dollars mark, which happened in 2014-15. It took another 7 years to hit the 3 trillion dollars mark in 2021-22. It should have taken 5 years, but we lost 2 years because of COVID-19. In just 3 years, we will cross 4 trillion dollars. Now we will need only 2 years to cross 5 trillion dollars unless some major unseen shock happens.’
He underscored the importance of maintaining macroeconomic stability, addressing non-performing assets in banks, bureaucratic reforms, enhancing global trade engagement, and investing in sustainable energy through renewables and green technologies. He also critiqued global ESG (Environmental, Social, and Governance) standards, expressing skepticism about their imposition without fair consultations by North Atlantic agencies.
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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