BUSINESS
CEA Nageswaran says Q1 GDP growth number ‘good’, maintains FY24 forecast of 6.5%
The government's top economist was speaking to reporters after data showed India's GDP grew by 7.8 percent in April-June, slightly higher than the consensus estimate of 7.7 percent but lower than the RBI's forecast of 8 percent
BUSINESS
India’s April-June GDP growth at 7.8%, highest in four quarters
The Indian economy had expanded by 6.1 percent in January-March and 13.1 percent in April-June 2022
BUSINESS
India's fiscal deficit rises to Rs 6.06 lakh crore in April-July, 34% of FY24 target
The Centre's fiscal deficit target for 2023-24 is 5.9 percent of GDP, or Rs 17.87 lakh crore in absolute terms, down from 6.4 percent of GDP in 2022-23
BUSINESS
Exclusive: Moody's defends India political risk comment, says had to explain change in assessment
In an August 18 statement affirming its Baa3 rating on India, Moody's had made note of "the curtailment of civil society and political dissent" and "rising sectarian tensions" and even mentioned the ongoing unrest in Manipur
BUSINESS
Interview: Moody's to re-examine India's fiscal strength when deficit well below 4.5%
The global ratings agency does not expect India to meet its target of reducing the fiscal deficit to 4.5 percent of GDP by 2025-26, although any slippage is unlikely to be meaningful, Moody's Senior Vice President Christian de Guzman told Moneycontrol in an interview
BUSINESS
India's GDP growth estimated to have risen to 4-quarter high of 7.7% in April-June
Robust capital expenditure by the government and solid domestic demand is expected to have driven growth higher in the first quarter of 2023-24, with a favourable base effect also playing a role.
BUSINESS
Interview: MPC's Ashima Goyal calls on states to cut fuel tax, oil firms to lower prices
In an interview to Moneycontrol, Goyal said the Monetary Policy Committee had not raised real interest rates high enough for them to have "major adverse impacts" on growth
BUSINESS
Interview: MPC's Shashanka Bhide sees CPI inflation falling below 7% in August
India's headline retail inflation rate surged to a 15-month high of 7.44 percent in July, forcing economists to upgrade their 2023-24 forecast days after the RBI had raised its own projection to 5.4 percent
TRENDS
FIDE World Cup 2023: Magnus Carlsen wins maiden World Cup, Praggnanandhaa finishes as runner-up
Praggnanandhaa, who stormed to the finals of the World Cup after beating two of the top three rated players in the world, has secured a ticket to the 2024 Candidates Tournament that will take place in Canada in April next year to decide who will challenge Ding Liren, the reigning world champion
BUSINESS
Inflationary pressures may stay elevated in coming months, Fin Min warns
Writing in its Monthly Economy Review report for July, the finance ministry's officials also wrote that the government pre-emptive steps to contain food inflation should soon help reduce market prices
BUSINESS
Of duties and discounts: All you need to know about the govt's latest onion price control measures
In volume terms, the volume of onions exported from India was 89 percent higher in June and 30 percent higher in April-June compared to the same period last year.
BUSINESS
Moody's affirms India's Baa3 rating, but warns of political tensions
The rating agency said the affirmation of India's rating and stable outlook was driven by its view that the economy is set to grow rapidly by international standards, although potential growth has declined in the last 7-10 years
BUSINESS
State of the Economy: Understanding RBI's latest assessment through five charts
The RBI staff's monthly assessment of the economy has become a key monitorable, throwing up interesting titbits every now and then and providing insight on the thinking of the central bank
BUSINESS
RBI Bulletin: India's 'output gap' now positive, stagflation risk at only 3%
The output gap is the difference between an economy's actual output and what it can potentially produce. When the gap is positive, it can lead to demand-pull inflationary pressures
BUSINESS
RBI Bulletin: Need 'major reforms' in supply chains to control food price shocks
The comments in the monthly State of the Economy article come amid a sharp rise in headline retail inflation driven by an eye-watering jump in prices of vegetables on account of supply-side issues
BUSINESS
RBI Bulletin: Headline inflation to average 'well above' 6% in July-September
The comment in the RBI Bulletin comes days after data showed headline retail inflation shot up to a 15-month high of 7.44 percent in July
BUSINESS
Is the RBI's new inflation forecast already outdated?
The Indian central bank, on August 10, raised its headline retail inflation forecast for 2023-24 to 5.4 percent. However, the July inflation number has thrown the proverbial spanner into these projections
BUSINESS
What the economist who got July CPI inflation (almost) right thinks will happen next
Nikhil Gupta, economist at Motilal Oswal Financial Services, had by far the most accurate prediction for the market-shocking headline retail inflation of 7.44 percent for July. And he thinks the situation could be very different by October
BUSINESS
July retail inflation at 15-month high of 7.44%
Consumer Price Index inflation has now spent 46 consecutive months above the Reserve Bank of India's medium-term target of 4 percent
BUSINESS
Ahead of India's laptop import curbs, PC and electronics manufacturing fell 32%
Data released on August 11 showed output of computer, electronic, and optical products fell by 32 percent in June – the eighth time in nine months that production in this segment had fallen on a year-on-year basis
BUSINESS
World Bank's top economist calls on India to be champion of debt relief initiative
While Indermit Gill of World Bank thinks India should take the lead, ICRIER's Deepak Mishra said the leader for a global matter such as debt relief should come from organisations that have the most at stake
BUSINESS
Retail inflation likely surged to 9-month high of 6.6% in July
The statistics ministry will release Consumer Price Index data for July later today at 5:30 pm, which is expected to show last month's inflation rate surged past the upper bound of the Reserve Bank of India's 2-6 percent tolerance range
BUSINESS
RBI rejects concerns over outflow of Russian investment in Indian debt
While the RBI officials refused to say how much Russia has invested in Indian government securities, they said there is unlikely to be an impact on liquidity or the rupee's exchange rate from any outflow of these investments, if such a situation arises
BUSINESS
RBI Policy: FY24 inflation now seen 30 bps higher at 5.4%, big hike in Q2 forecast
CPI inflation is set to shoot up in July - data for which will be released on August 14 - and cross the upper bound of the Indian central bank's 2-6 percent tolerance range for the first time in five months.
