BUSINESS
RBI to revert to baby steps approach to monetary tightening
India’s Monetary Policy Committee has raised the key policy repo rate by 190 basis points since early May as it shifted focus to inflation from growth.
INDIA
In Charts: India’s employment challenge explained
Peak agricultural employment, economic shocks like the coronavirus pandemic and MSMEs losing market share has worsened the jobs' challenge in the world’s second-most populous country
BUSINESS
Govt raises minimum support prices for six Rabi crops
Minimum support price refers to state-set price at which government agencies procure select crops from farmers to shield them from typical price volatilities. About 23 crops are currently covered under MSP.
ECONOMY-2
Risk of fiscal dominance high in UK, Eurozone, low in US
Fiscal dominance implies a situation where a central bank needs to hold interest rates low to keep the government’s borrowing costs manageable
ECONOMY-2
IMF to slash 2023 global growth forecast again, says world could lose output the size of German economy
Fight against inflation, continued uncertainty and financial market volatility threaten the world economy, says its MD Kristalina Georgieva.
BUSINESS
Services activity hits six month low in September
India's services PMI for September has come in above 50 for the 14th month in a row
BUSINESS
Interview | Invest India CTO on turbocharging National Single Window
The national single window seeks to be the one-stop digital platform for investors to obtain most central and state approvals needed to start business operations.
BUSINESS
Rate hike in small savings a reason for cheer, but more such moves unlikely in short term
The need to ensure effective monetary transmission and lack of fiscal space could keep small savings rates at current levels. Though small savings schemes serve as tools for resource mobilisation, there are signs the government may reduce its dependence on them
BUSINESS
MC Explains | Why the Centre lowered its market borrowing
Deft budget management is the need of the hour as borrowings are at a record high. The government has made a good start on this front. The need to prepare for global and domestic headwinds also behind the move.
BUSINESS
Monetary Policy Committee will meet to discuss RBI letter to govt on inflation aim failure
The MPC typically meets six times in a year to decide on interest rates
BUSINESS
Services industry must be competitive, not seek subsidies, says Piyush Goyal
The services industry was keenly waiting for a new foreign trade policy, anticipating some benefits in lieu of the Service Exports from India Scheme.
BUSINESS
Building an institution like GST Council takes time, trashing is easy: Sitharaman
The Union finance minister was responding to opposition criticism on issues surrounding the apex tax body
INTERVIEW
Agri supply chain fragmented, need well-thought-out market interventions, SLCM Group’s Sabharwal says
India’s farm sector faces multiple challenges: knee-jerk interventions, disorganised supply chains and a lack of profitability, says the CEO of one of the country’s largest private warehousing firms
BUSINESS
Why India’s CBDC may struggle for relevance
India is aiming to launch the central bank digital currency in this financial year but in a country where digital payments are thriving and are cheap, a CBDC is likely to face indifferent consumers
BUSINESS
Fed leads pack of central banks in preparation for sharp hikes in policy rates
Some economists expect the key policy rate to be raised by 35 basis points by the RBI next week, while others expect a 50-basis-point increase, just like in the previous two policies
BUSINESS
India to grow at 7% for rest of the decade, chief economic advisor says
Nageswaran acknowledged that growth projections had come off those made at the start of 2022, to over 7 percent for current financial year.
BUSINESS
Growth to be sustained, inflation pressures to subside, says finance ministry report
The finance ministry is hopeful that robust growth in government revenues will help sustain capital expenditure through the rest of the fiscal year.
BUSINESS
'We can't be ignored any more', Sitharaman bats for more women on boards, in top positions
"We are not asking for inclusivity; we are not asking for gender parity. You want more profit, get me in," the minister said at a women directors conclave in Mumbai
BUSINESS
What’s happening with private investments?
Despite the government seeking to trigger private capital expenditure by boosting its own spends, incentives, and tax cuts, and in spite of the industry seeing strong sales and profits, private capital investment remains subdued.
BUSINESS
Free foodgrain scheme unlikely to stay beyond September: Ex-farm secretary
Under the scheme, the government has been distributing additional, free-of-cost foodgrains to around 800 million National Food Security Act beneficiaries to mitigate the hardships faced by the poor after the outbreak of COVID-19.
ECONOMY
Remembering Abhijit Sen
Sen, an economist who made multiple contributions to Indian policymaking, passed away on August 29.
ECONOMY
Interview | India must open up the agri sector to ease the burden on farmers: Government MSP panel’s Gunvant Patil
The need of the hour is to bring people out of farming, which is largely a loss-making enterprise, said the veteran farm leader.
BUSINESS
Interview | India must let rupee depreciate, lower tariffs substantially: Arvind Panagariya
Rupee depreciation will help both exportable and import-competing sectors, the former chairman of Niti Aayog said.
BUSINESS
Interview | Must lower inflation to 4% as quickly as possible: MPC’s Jayanth Varma
According to Varma, the Monetary Policy Committee should start discussing the timeframe in which inflation would be lowered to the medium-term target of 4 percent
