Economy
Nomura's proprietary indices for India suggest downside risks to growth in 2016
India’s growth momentum, which was positive in 2015, has slowed considerably and leading indicators suggest some moderation in non-agricultural GDP growth in 2016
 
Nomura says it has launched five proprietary indices to gauge India’s growth momentum and the near-term monetary policy path, which suggest downside risk to the country's growth. Together with high-frequency data, these proprietary indices indicate that the growth recovery continues to be uneven with a growing wedge between the consumer and the industrial sectors. India’s growth momentum, which was positive in 2015, has slowed considerably in 2016 and leading indicators suggest some moderation in non-agricultural GDP growth in 2016, Nomura says. 
 
"Higher agricultural growth, owing to good monsoons, may act as a cushion, but it still suggests some downside risk to our baseline forecast of 7.8% GDP growth in 2016 as 7.3% in 2015. Meanwhile, our policy signal index confirms that room for another 25 basis points (bps) rate cut exists. We expect the Reserve Bank of India (RBI) to deliver a final 25bps rate cut at its policy meeting on 5th April," it added.
 
Nomura's five proprietary indices include, the Nomura Composite Leading Index (CLI), India’s economic heat-map, the Monthly Activity Indicator, the Nomura Economic Growth Surprise Index for India (NESII 2.0) and the Nomura RBI Policy Signal Index (NRPSI). The CLI is a quarterly index and NESII 2.0 is a weekly indicator, while all others are monthly.
 
 
It says, the Nomura’s Composite Leading Index for India, which has a two-quarter lead over non-agricultural GDP growth, suggests that the economic recovery is likely to slow in second and third quarter of 2016. Nomura's economic heat-map of high-frequency data show that the recovery is still uneven, with the consumer and services sectors doing relatively better, while the investment and industrial sectors are weak and have lost traction into 2016.
 
The Nomura Economic Surprise Index for India rose to 0.08 in mid-March from -0.22 in end-January, indicating that even though macro data have weakened, they have managed to surprise positively, owing to downbeat consensus expectations, it says.
 
According to the Nomura RBI Policy Signal Index, there is a high likelihood of another 25bps rate cut. "Indeed, with the government committed to fiscal consolidation, we expect the RBI to deliver a 25bp rate cut on 5 April 2016. However, our index has risen considerably since September, signalling that room for policy easing is diminishing," it added.

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Blue Star aims to increase its market share to 12% in FY2017
Blue Star sees the market for room air conditioners grow by around 15% and its market share to increase to 12% in FY2017
 
Air-conditioning and commercial refrigeration company Blue Star Ltd says it is planning to achieve a market share of 12% from 10% at present, by focussing more on the room air conditioners market.
 
In a release, B Thiagarajan, Executive Director & President - AC&R Products Business, Blue Star, said, "The room air conditioners market in India grew by about 10% during 2015, while Blue Star outperformed the market growing 20%. The market for room air conditioners is expected to grow by around 15% in FY17 and considering our 5-year track record of outperforming the market coupled with our impressive new energy-efficient, eco-friendly and smart product range, we hope to achieve a market share of 12% in FY17." 
 
The Company also plans to invest over Rs30 crore on new product development as well as its research and design initiatives in FY17 in order to continue its endeavour to develop customised, modern and sophisticated products which can compete with the best in the world, the release added.
 
Blue Star says it plans to increase its number of stores to 100 stores by the end of FY17 from nearly 70 exclusive product stores across the country.

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Many college-goers have disturbed sleep: Study
New Delhi : Thirty-four percent of females and 15.7 percent of college-going students suffer from disturbed sleep, a study has revealed ahead of World Sleep Day on March 18.
 
According to the study conducted by Cosmos Institute of Mental Health and Behavioural Sciences (CIMBS) in Delhi, students with sleep disturbances were also at higher risk of depression, anxiety, emotional and behavioural disturbances as well as alcohol and drug abuse.
 
"Psychiatrists from across the city are seeing a new trend of sleep disorder amongst children and adolescents and youth, in which the individual sleeps late at night and wakes up late in the morning, leading to Phase Delayed Sleep Disorder," said CIMBS director Sunil Mittal.
 
He said most of the sleep disorders were preventable or treatable, and stressed the importance of consulting a qualified sleep specialist or psychiatrist for help, rather than self-medicating oneself.
 
According to medical science, insomnia (inability to sleep) alone affects 8-10 percent of the general population and may lead to increased risk of hypertension, diabetes mellitus, headache, immune deficiency, anxiety, depression, memory problems, road traffic accidents and decreased work performance.
 
Rajesh Kumar, consultant psychiatrist at CIMBS and member of the World Association of Sleep Medicine, said in the study that there was a need for early detection of childhood anxiety, depression and other emotional problems which can help in the prevention of sleep disturbances like Phase Delayed Sleep Disorder in various age group. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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