BUSINESS
RBI Policy: MSP hike to push up CPI forecast by only 10-12 bps, says Deputy Governor Patra
As per the RBI's latest forecasts, headline retail inflation is seen averaging 5.1 percent in 2023-24
BUSINESS
RBI Policy: FY24 CPI forecast now 5.1%, big cut in Q1 projection
The central bank's April-June 2023 CPI inflation forecast has been cut to 4.6 percent from 5.1 percent, but the forecasts for the second half of 2023-24 were left unchanged
BUSINESS
RBI Policy: Pause, not pivot, likely again on June 8 amid calls for change in stance
Some economists think the MPC should now get out of withdrawal of accommodation and into neutral gear. However, that may only spark hopes of an interest rate cut — something policymakers will want to avoid.
BUSINESS
In Charts: How the Indian economy has fared since RBI's April 6 rate decision
The Indian central bank looks at a variety of economic indicators before making its interest rate decision. How have some of these data points moved since the Monetary Policy Committee last met?
BUSINESS
Ahead of MPC meet, IIM survey shows firms' inflation expectations edged down to 4.31% in April
Inflation expectations are keenly eyed by policymakers as anchoring them is critical to ensuring price stability
BUSINESS
How a 10-year bond crashed and burnt out in just 8 months
The government's wholesale inflation-indexed bonds were issued in 2013. But they were as good as dead in less than a year after seismic changes in Indian policy.
BUSINESS
India's impressive GDP data has some puzzling elements
The blockbuster headline January-March and full year GDP numbers have left the government rather chuffed. But some aspects of the data need further explanation
BUSINESS
Chief Economic Adviser Nageswaran bullish about growth prospects after blowout GDP data
The better-than-expected GDP numbers for January-March and 2022-23 have given confidence to the Indian government's top economist to say that risks to his growth forecast of 6.5 percent for 2023-24 are now evenly balanced
BUSINESS
India GDP numbers beat expectations, January-March growth at 6.1%
For 2022-23, the statistics ministry has estimated a GDP growth of 7.2 percent.
BUSINESS
Centre meets FY23 fiscal deficit target of 6.4% of GDP
In absolute terms, the central government's fiscal deficit in 2022-23 was Rs 17.33 lakh crore as against the revised estimate of Rs 17.55 lakh crore.
BUSINESS
RBI dividend to govt could have been Rs 1.2 lakh crore if not for risk buffer change
The Indian central bank transferred a larger-than-expected dividend of Rs 87,416 crore to the central government for 2022-23. However, data in the RBI's annual report shows it could have been even larger
BUSINESS
RBI Annual Report: Standing Deposit Facility costs RBI Rs 7,445 crore in first year
The Standing Deposit Facility was introduced by the RBI on April 8, 2022 - more than 8 years after it was first recommended by the Urjit Patel committee.
BUSINESS
RBI Annual Report: Provisions, forex gains hit record highs in FY23
A 50 percent increase in the central bank's foreign exchange gains helped it transfer Rs 87,416 crore as dividend to the central government in 2022-23
BUSINESS
Economists, policymakers spar over India's growth narrative ahead of national election
India may be the fastest-growing large economy, but two sets of economists and policymakers – current and former – don't see eye to eye when it comes to the underlying growth story.
BUSINESS
Urban unemployment hit new low of 6.8% in January-March as per govt survey
The urban unemployment rate fell even as the Labour Force Participation Rate increased to 48.5 percent.
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
