BUSINESS
India's January-March GDP growth seen rising to 5.1%: economists' poll
The statistics ministry will release GDP data for January-March and the first provisional estimate for 2022-23 GDP at 5:30pm on May 31
INDIA
No comment on RBI policy, but see US Fed pausing in June: CEA Nageswaran
Both the Indian and US central banks are set to meet in the first half of June to decide on interest rates.
BUSINESS
Urban consumption ended FY23 at over-three-year high but may fall in FY24: QuantEco Research
According to QuantEco Research's economists, air passenger traffic and demand for petrol have fueled urban consumption. However, the sharp increase in interest rates over the past year is expected to weaken consumption this year
BUSINESS
India's pre-pandemic long-term inflation rate seen at 4.3%: RBI staff analysis
The Reserve Bank of India adopted the flexible inflation targeting framework in early 2014, with the formal acceptance of a medium-term target of 4 percent only taking place in the second half of 2016.
BUSINESS
RBI sold $213 billion on gross basis in FY23, up 120% from FY22
As per latest RBI data, the central bank purchased $750 million worth of foreign currency in March on a net basis.
BUSINESS
Black money finds no mention in RBI Governor Das' address on Rs 2,000 notes
The central bank chief's comments come amid speculation that the RBI's decision last week to withdraw Rs 2,000 notes from circulation will hit holders of black money in the country.
BUSINESS
Interview: Fitch sees India doing all it can to cut fiscal deficit to 4.5% by FY26
According to Jeremy Zook, Fitch’s primary rating analyst for India, India’s revenue growth may soon plateau and require fiscal consolidation to be supported by expenditure cuts
BUSINESS
Interview | Former RBI Deputy Governor Gandhi sees no need for notes larger than Rs 500
According to Gandhi, who handled RBI's currency management department, the introduction of the Rs 2,000 note in 2016 was a 'short-term tactical decision' to quickly remonetise the economy post-demonetisation
BUSINESS
Govt gets Rs 40,000 crore bonus from central bank despite RBI saving more for rainy day
The RBI's dividend to the central government exceeded the 2023-24 budget estimate by 82 percent, likely on the back of huge foreign exchange gains
BUSINESS
RBI board approves transfer of Rs 87,416 crore as dividend to govt for 2022-23
According to the Budget announcement, the government had expected to receive Rs 48,000 crore in dividend from the central bank and state-owned lenders in 2022-23
BUSINESS
Can Karnataka afford Congress' Rs 50,000 crore worth of promises?
India's Grand Old Party romped home to victory in the Karnataka assembly elections. But it must now deliver on its poll promises amid concerns about their cost.
BUSINESS
April CPI inflation crashes to 18-month low of 4.7% due to favourable base
This is the first time since November 2021 that headline retail inflation has fallen below 5 percent
BUSINESS
CPI inflation seen dropping to 18-month low of 4.8% in April
A favourable base effect is expected to drag down retail inflation below 5 percent for the first time since November 2021, according to a Moneycontrol survey. And for the second month in a row, a favourable base effect will likely be the strongest driver of disinflation
BUSINESS
MC Explains: How RBI's definition of real interest rate has evolved over the years
India's inflation is likely to come in below 5 percent in April. While this may allow the Reserve Bank of India to leave the repo rate unchanged again in June, falling inflation will lead to higher real interest rates. But which is the real 'real rate'?
BUSINESS
India must use Standard Audit Files for tax assessment to be 'truly faceless': Deloitte
The Indian government has called its Faceless Assessment Scheme as a key reform in the direct tax space. However, according to Deloitte India, the scheme will be "truly faceless" when the tax department raises queries through a computerised process
BUSINESS
Global financial situation daunting, but India looks well protected: DEA Secretary Ajay Seth
The Economic Affairs Secretary was speaking to reporters after the first meeting of the Financial Stability and Development Council in 2023-24.
BUSINESS
Firms' inflation expectations hit 3-month low of 4.4% in March: IIM survey
Inflation expectations are keenly eyed by policymakers as anchoring them is critical to ensuring price stability
BUSINESS
Karnataka Elections: Freebie promises cast cloud over $1 trillion economy target
Days before residents of Karnataka line up outside their polling booths, political parties vying for their votes have announced a barrage of freebies. But can such giveaways derail the state from becoming a $1 trillion economy?
BUSINESS
Sacrifice short-term growth to secure long-term prospects: Viral Acharya tells govt, MPC
Acharya, formerly a deputy governor with the Reserve Bank of India, said India had slipped up on the fiscal deficit and inflation in recent years
BUSINESS
SBI economist rejects Viral Acharya's claim that big firms are behind high core inflation
In March, Acharya - formerly a deputy governor of the RBI - had said in a paper that India's core inflation was persistent and elevated due to the pricing power of its large firms and recommended they be broken up
BUSINESS
Interview: MPC's Ashima Goyal sees policy pivot if inflation approaches 4% sustainably
Goyal, one of the three external members of the RBI's Monetary Policy Committee, also says the market will keep getting surprised by interest rate decisions if it continues to ignore warnings
BUSINESS
MPC's Shashanka Bhide sees downside risks to RBI's FY24 growth forecast
Bhide, one of the three external members on the RBI's Monetary Policy Committee, also said a rate cut or an indication of one would constitute a 'policy pivot'
BUSINESS
Interview: MPC's Jayanth Varma hopeful rate hikes thus far will be enough
Varma, one of the three external members on the RBI's Monetary Policy Committee, also said that the policy stance is not only unclear but "bereft of substantive content"
BUSINESS
RBI staff see India soon entering a 'low inflation regime'
The central bank's staff, including Deputy Governor Michael Patra, wrote in a paper that sequential momentum of core inflation is declining, providing further proof of easing inflationary pressures
