The week in charts: Corporate profit, GDP projections, rural housing
NEW DELHI : Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Smaller firms accounted for a bigger share in overall profits in 2023-24, while international agencies have become more optimistic about India’s 2024-25 growth projections after its stellar show in 2023-24. India’s corporate profit has always been driven by the biggest firms, with the top 10% commanding 95% of the profit share.
However, this is an improvement from 97% recorded in 2021-22. In 2023-34, the bottom 80% firms accounted for 0.3% share in total profits of the BSE-listed universe, the highest in seven years, a Mint analysis of data for 4,006 companies showed. The figure had lately been languishing below zero, due to the dominance of loss-making companies.
After India surprised the world with its impressive 8.2% GDP growth in 2023-24, international agencies have become more optimistic about the country’s growth prospects in the current fiscal year. The International Monetary Fund (IMF) has raised its forecast to 7% from 6.8% earlier. While the Asian Development Bank also expects growth to be 7%, the Reserve Bank of India (RBI) and Fitch Ratings are more optimistic at 7.2%.
The World Bank currently has the lowest forecast of 6.6% but may undergo revision in the coming months. ₹4.5 trillion: This is the amount the government may announce in the Union Budget 2024-25 to build 23.5 million rural houses under the Pradhan Mantri Awas Yojana (Gramin), Mint reported quoting sources. The allocation would be for 20 million additional houses as well as 3.5 million houses from the previous phase.
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