BUSINESS
Free foodgrain extension doesn't hurt fiscal consolidation, says Finance Secretary Somanathan
The finance secretary also said the government is on track to meet its fiscal deficit target of 5.9 percent of GDP for the current financial year
BUSINESS
India Q2 GDP: July-September growth at 7.6%, sharply above forecasts
Economists had expected the second quarter GDP growth rate to come in at 6.8 percent, higher than the Reserve Bank of India’s forecast of 6.5 percent
BUSINESS
India's April-October fiscal deficit at Rs 8.04 lakh crore, 45% of FY24 target
The government's fiscal deficit for only October was Rs 1.02 lakh crore, down 26 percent from the same month of the previous year
BUSINESS
India's female unemployment fell to 8.6% in Q2, but quality of jobs a concern
According to the government's latest Periodic Labour Force Survey, the female unemployment rate fell to 8.6 percent in July-September even as the Labour Force Participation Rate rose by 80 basis points. But concerns about the quality of jobs women are getting remain
BUSINESS
India Q2 GDP: Economic Affairs Secretary Seth expects good Q2 growth number
According to a Moneycontrol survey of 17 economists, India's GDP may have grown by 6.8 percent in July-September, data for which will be released by the statistics ministry on November 30.
BUSINESS
India Q2 GDP: Five things to watch out for in latest growth data
While economists expect India's GDP growth to slow down to 6.8 percent in Q2 from 7.8 percent in April-June, activity levels have been robust enough to force upgrades in growth forecasts
BUSINESS
India Q2 GDP: July-September growth seen at 6.8%, higher than RBI's forecast
Economic growth in April-June had marginally missed the Indian central bank's forecast of 8.0 percent, coming in at 7.8 percent
BUSINESS
FM weighs in on retail loan measures, says RBI knows where the 'thin line' lies
The comments by the finance minister come a day after Reserve Bank of India Governor Shaktikanta Das advised banks and non-bank finance companies to be careful and ensure that credit growth exuberance is avoided
BUSINESS
IMF, others to give G20 regular updates on crypto roadmap implementation: FM
Speaking to the media at the conclusion of the virtual G20 Leaders' Summit, Sitharaman also said that the exact contours of the global Social Impact Fund proposed by PM Modi to spread digital public infrastructure are yet to be finalised
POLITICS
G20 leaders to discuss implementation of New Delhi declaration at virtual meet on Nov 22
Prime Minister Narendra Modi had announced at the New Delhi Leaders' Summit in early September that a virtual Leaders' Summit would be held before the end of India's G20 Presidency
BUSINESS
Election Commission should ask parties to estimate cost of freebies: MPC's Ashima Goyal
According to Goyal, political parties should also be asked to declare how their election promises will be financed – which taxes will rise or what expenditure be cut
BUSINESS
RBI's post-Diwali retail loan dampener – will higher risk weights hurt spending?
Mere weeks after Governor Shaktikanta Das flagged the "very high growth" seen in some segments of personal credit, the RBI decided to act and force lenders to set aside more capital for such loans
BUSINESS
No current account concerns yet despite October trade deficit shocker
India's merchandise trade deficit hit an all-time high of $31.46 billion in October as gold imports nearly doubled from last year. But economists remain untroubled and are sticking to their full-year forecasts for the current account deficit
BUSINESS
RBI Bulletin: Festive demand ebullient, but 'miles to go' on inflation front
In its monthly State of the Economy article, the Indian central bank's economists noted that there is a consensus that GDP growth in July-September will be higher than the RBI's forecast of 6.5 percent
BUSINESS
CEA Nageswaran calls on World Bank to make governance indicators transparent
According to the government's top economist, an objective assessment of governance levels in countries – and in turn, their credit ratings – could help reduce financing costs for emerging economies by billions of dollars
BUSINESS
Food inflation needs to fall more, says government source
According to data released on November 13, India's headline retail inflation rate fell to a five-month low of 4.87 percent in October although food inflation was little changed at 6.61 percent.
BUSINESS
India's trade deficit hits record high in October as gold imports double
Commerce ministry officials noted that China continues to be India's top source of imports, with Russia, UAE, US, and Saudi Arabia making the rest of the top five.
BUSINESS
Optimism among businesses, but India's consumption story has cracks
Multiple surveys show that the sentiment of Indian companies is improving. However, matters are far from straightforward when it comes to consumers
BUSINESS
India's retail inflation falls again in October, hits 5-month low of 4.87%
The Reserve Bank of India expects headline retail inflation to average 5.6 percent in the last quarter of 2023 and 5.4 percent in 2023-24 as a whole
BUSINESS
Exclusive: RBI asks Refinitiv to explain outage of forex trade platform on November 10
According to people aware of the development, the central bank wants to understand if the outage was caused by a system failure or human error
BUSINESS
CPI inflation may have cooled to 5-month low of 4.8% in October
Headline retail inflation has climbed down rapidly in recent months after it hit a 15-month high of 7.44 percent in July
BUSINESS
Govt working on estimating cost of Net Zero transition: CEA Nageswaran
Nageswaran was speaking at a discussion on a recent paper co-authored by him on the issues, challenges, and solutions to harnessing private capital for global public goods.
BUSINESS
S&P predicts more spending schemes ahead of polls, but no likely threat to govt finances
On November 4, Prime Minister Narendra Modi announced that free foodgrain will continue to be provided to more than 80 crore poor Indians until December 2028
BUSINESS
One year gone, one more to go on RBI's post-failure path to 4% inflation
While the contents of the RBI's 'letter' to the government after it failed in its mandate have not been made public, the central bank has previously said that two years is an appropriate time to lower inflation to four percent. We have perhaps reached the mid-point of that timeline
