BUSINESS
Lower inflation has reinforced favourable redistribution of income from top to bottom and middle-income groups: Finance ministry
The finance ministry classifies the Indian consumer into three broad classes: the top 20 percent, the middle 60 percent, and the bottom 20 percent.
BUSINESS
Unscheduled meetings, debates: Behind the scenes of the May 4 surprise RBI repo rate hike
The RBI's repo rate hike on May 4 caught everyone by surprise. But the central bank had started talks about convening its rate-setting panel right after its April 8 meeting
BUSINESS
RBI's forex reserves formidable, but futile to resist global tide against currencies, says source
The RBI has used its 'formidable' foreign exchange reserves to prevent the rupee from weakening sharply in recent days. However, mounting a defence against what a person aware of developments called 'a global tide' is seen as being futile
BUSINESS
RBI data dependent, each MPC meeting should be seen as 'mutually independent'
The central bank's surprise May 4 repo rate hike has sparked concerns that the next couple of meetings of its rate-setting panel will definitely see further increases in the policy rate.
BUSINESS
No serious risk seen to RBI reputation if MPC fails to meet inflation mandate
The Indian central bank welcomes monetary policy accountability but is cautious of what taking remedial measures to return inflation rapidly to acceptable levels would entail, according to a person familiar with developments.
BUSINESS
What to expect from April consumer inflation
India's central bank increased a key interest rate on May 4, eight days ahead of the release of April's retail inflation data. What will the number look like?
BUSINESS
RBI's surprise rate hike raises plenty of questions
After being accused for several months of being behind the curve, the central bank has made up plenty of policy ground in the first 34 days of the new financial year. But its latest policy decision raises several questions.
BUSINESS
Ahead of US Fed decision, RBI is latest central bank to take rate action
High inflation has forced several central banks to increase policy rates but there has been a pick-up in rate action in recent days ahead of a likely rate hike announcement by the world's most important central bank
BUSINESS
India's GDP to hit $5 trillion in FY29, rupee at 94 a dollar, suggests IMF data
The multilateral agency's forecasts point towards a four-year delay to the Indian government's target of becoming a $5-trillion economy by FY25
BUSINESS
Indian economy to overcome COVID losses only in FY35, says RBI report
India fell into a short-lived technical recession in FY21. But while growth has rebounded since then, albeit on a low base, it will take more than a decade to overcome the losses incurred during the pandemic, according to the central bank's latest currency and finance report.
BUSINESS
Accommodative no more: Who moved the Reserve Bank MPC's stance?
The central bank's rate-setting panel may have sounded hawkish in its statement on April 8, but there was no change either in the repo rate or the stance on monetary policy. At least that was the perception. What gives?
BUSINESS
Exclusive | Small investors bought Rs 74 crore of government securities in FY22; tax incentive unlikely
The Reserve Bank of India launched the scheme in November to make it easy for individuals to buy government securities and expand the pool of investors. But the government is unlikely to push the scheme aggressively through tax incentives.
BUSINESS
The Hard Grind: Wheat inflation becoming hard to stomach for Indian households
India was supposed to be largely insulated from the war between Russia and Ukraine as far as prices of food items were concerned. However, there are signs that the conflict in Europe is adding to Indians' wheat bill.
BUSINESS
IMF cuts India's GDP growth forecast by 80 bps to 8.2% for FY23, says global prospects set back by war
The multilateral agency has also made a downward revision to its growth forecast for India for FY24, lowering it by 20 basis points to 6.9 percent. It, however, remains significantly higher than the RBI prediction for FY23 at 7.2 percent
BUSINESS
Inflation 'clear and present' danger for many countries, says IMF's top economist Pierre-Olivier Gourinchas
Inflation is now expected to remain elevated "for much longer" and the most immediate priority is to end the war between Russia and Ukraine, says Gourinchas
BUSINESS
Supply chain pressures suggest upside risks to inflation may persist, RBI staff find
RBI staff, including Deputy Governor Michael Patra, have developed an index of supply chain pressures for India to function as an "early warning system" for the Indian economy.
BUSINESS
Rise in private debt in COVID days to dent growth by 0.9-1.3% over 3 years: IMF
Governments may have been able to ease some of the COVID pain for the private sector with their debt repayments and incomes by providing credit at concessional rates but the IMF sees the rise in leverage hurting growth over the coming years
BUSINESS
India's hair-raising inflation situation in five charts
The inflation data for March exceeded economists' expectations by over half a percentage point. Moneycontrol highlights the broader but equally alarming trend in prices through five charts.
BUSINESS
Stance, guidance, forecasts – what is RBI trying to telegraph?
Monetary policy has turned decidedly hawkish, according to economists, with the Reserve Bank of India raising its inflation forecast for FY23 by more than 1 percentage point and starting the next phase of the policy normalisation process. But markets have not always been on the same wavelength when it comes to understanding signals from Mint Street.
BUSINESS
Consumer confidence, inflation expectations surge in March, finds RBI survey
While consumer confidence about the current situation remains firmly pessimistic despite some improvement, inflation expectations rose by 10 basis points
BUSINESS
Revenue Secretary Bajaj warns FY23 tax collection growth may not be as robust as in FY22
The central government’s tax collections for FY22 have exceeded the revised estimate by 7.6 percent.
BUSINESS
RBI monetary policy risks failure if crude oil averages $110 a barrel in FY23
The central bank's Monetary Policy Report said FY23 inflation could be pushed up by 30 basis points from the baseline path of 5.7 percent if the price of India's crude oil basket exceeds the assumption of $100 per barrel by 10 percent
BUSINESS
RBI forecasts crude oil price at $100 per barrel: Governor Shaktikanta Das
The revised assumption of the crude oil price for making inflation and growth forecasts is sharply higher than the previous one.
BUSINESS
Chief Economic Advisor Nageswaran says CBDC won't eliminate cryptos, stablecoins
The comments by the government's top economist come even as the RBI continues to work on its own digital currency in the hope of launching it this year.
