BUSINESS
India's oil imports from Russia jumped to 18% of crude purchases in July
Russia, India's second-largest source of petroleum crude, is on track to overtake the leader, Iraq, in the coming months
BUSINESS
FM Sitharaman shrugs off proposal for fiscal council, cites resilience of Indian institutions
Speaking at a book launch, the finance minister also said institutions already in place need time to settle down
BUSINESS
Indian rupee can take care of itself, says CEA Anantha Nageswaran
The comments by the government's chief economic adviser come at a tough time for the Indian currency, which breached the 80-per-dollar mark for the first time in mid July.
BUSINESS
What's stopping you from investing? FM Sitharaman asks India Inc
The finance minister's comments come at a time when the government has continued its investment push in an attempt to crowd in private investment and revive growth on a durable basis.
BUSINESS
Companies have sought access to UPI data, says RBI Deputy Governor Rabi Sankar
Access to UPI data could allow payments companies to construct targeted financial products. However, legislation on data privacy is crucial, the central banker said.
BUSINESS
RBI teeters on the edge of failure as retail inflation scales back 7% level
The latest number means headline retail inflation has now spent 35 consecutive months above the medium-term target of 4 percent and eight straight months outside the 2-6 percent tolerance range of the Reserve Bank of India
BUSINESS
Economists see upswing in August retail inflation at 6.9%, dip in July industrial growth at 4.1%
The statistics ministry will release CPI inflation data for August and IIP growth for July on September 12
BUSINESS
FM Sitharaman lauds PM's decision to ramp up Russian oil imports to manage inflation
According to the finance minister, India's Russian crude oil imports increased by around six times to 12-13 percent of total crude purchases in a matter of two months.
BUSINESS
Centre alone can't be responsible for managing inflation, says Nirmala Sitharaman
As many as half of the 22 states for which the statistics ministry releases CPI data witnessed inflation that was higher than the national average of 6.71 percent in July, with Telangana seeing the highest rate of 8.58 percent
BUSINESS
Monetary, fiscal policies share burden of lowering inflation, says FM Sitharaman
In her speech today, the finance minster said the Indian experience over the last couple of years had shown that monetary policy, while key, was not enough to reduce inflation.
ECONOMY
Looking forward to internationalisation of CBDCs, says RBI deputy governor
The Indian central bank sees CBDCs being key to slashing time and costs associated with the settlement of international transactions
BUSINESS
Businesses' inflation expectations dropped below 5% in July, 1st time in 17 months: IIM survey
The continued drop in inflation expectations will be welcomed by policymakers, with the RBI having raised the repo rate by 140 basis points in the last four months to battle soaring price levels
BUSINESS
Green bond framework almost ready, govt looking for "very attractive" discount: FinMin source
The Centre has been assisted by the World Bank in framing the guidelines for the sovereign green bonds, which were announced by the finance minister in her FY23 budget speech.
BUSINESS
Unemployment in Indian cities hits four-year low at 7.6% in April-June
The fall in the unemployment rate took place even as the Labour Force Participation Rate increased to 47.5 percent - the joint-highest since the start of the Covid pandemic
BUSINESS
GDP | Private consumption up 26% in Q1, downward revision seen in FY23 growth forecast
Economists expect that RBI may have to lower its FY23 GDP growth forecast of 7.2 percent to under 7 percent.
BUSINESS
India not desperate to get bonds added to global indices, says govt official
Talk of India's inclusion in global bond indices has picked up after Goldman Sachs published a note earlier this month, saying it expects India to be included in JPMorgan's Government Bond Index-Emerging Markets in 2023
BUSINESS
RBI working on database of scamsters to check bank frauds
The central bank plans to blacklist the phone numbers and IP addresses used to scam bank customers
BUSINESS
Q1 GDP: Experts say India may post 15% growth on base effect, economic recovery
Employment, consumption, a rejuvenated services sector are among the growth drivers. But a global slowdown could take a toll on India
BUSINESS
External factors unlikely to exert serious near-term pressure on India's rating, says S&P
The comments from S&P come after it said earlier in August that the Indian economy can handle some erosion of its foreign exchange reserves as its external position is "very strong".
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
BUSINESS
Parliamentary panel calls IRCTC for briefing on citizens’ data security, privacy
The call for the briefing comes days after the Indian railway's ticketing arm floated a tender to monetise the data it holds
BUSINESS
Lowering inflation expectations closer to 4% key policy goal: MPC’s Shashanka Bhide
Bhide admitted the Indian central bank's forecasts "clearly" implied the likelihood of failure to meet the inflation mandate.
BUSINESS
Interview | Indian markets too focussed on US Fed actions: MPC’s Ashima Goyal
Goyal also said steep interest rate hikes have a greater impact on output than on inflation in the Indian context.
BUSINESS
Don't see inflation returning to 4% in 2023, says Nomura's Sonal Varma
India's headline retail inflation rate has been above the medium-term target of 4 percent for 34 consecutive months. And this number could cross the 50-month mark, as per the Nomura economist.
