The International Monetary Fund (IMF), in its latest ‘World Economic Outlook Update, July 2024’, has revised India’s growth projection upward to 7 per cent for 2024 from 6.8 per cent projected earlier, with the change reflecting carryover from upward revisions to growth in 2023 and improved prospects for private consumption, particularly in rural areas. The country maintaining the fastest-growing status in emerging markets and developing economies.
The IMF had earlier projected growth rate of 6.5 per cent for 2024, revising it to 6.8 per cent and now 7 per cent. For the year 2025, the IMF has maintained its growth projection for the country at 6.5 per cent. It attributed robustness and strength in domestic demand and a rising working-age population behind its growth projections.
IMF said the forecast for growth in emerging market and developing economies has been revised upward and the projected increase is powered by stronger activity in Asia, particularly China and India. For China, the growth forecast has been revised upward to 5 percent in 2024, primarily on account of a rebound in private consumption and strong exports in the first quarter.
According to the Indian government data, India’s GDP grew at an impressive 8.2 per cent during the financial year 2023-24, and it continued to remain the fastest-growing major economy. India’s economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22 respectively.
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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