BUSINESS
Amid rising crude, fuel excise cut more viable to cool pump prices: DBS Bank’s Rao
While it might be more difficult for oil marketing companies to lower pump prices of petrol and diesel, the economist sees a cut in the excise duty as a viable option, particularly given the timing – coinciding with the festive period and ahead of a busy election schedule
BUSINESS
From clothes to PCs, falling Indian production points to weak demand
According to economists, the falling production of consumer durable goods is worrisome
BUSINESS
IMF says global debt fell to $235 trillion in 2022, but still above 2021 level
According to the multilateral agency, private debt has fallen at a faster rate than public debt over the last two years
BUSINESS
Centre hopes to lower annual borrowing to Rs 12-13 lakh cr in next few years: Sources
The central government’s borrowing has hit new record highs over the last two years, rising to Rs 14.21 lakh crore in 2022-23. In fact, the budget presented on February 1 pegged it at Rs 15.43 lakh crore for 2023-24 and the government is keen on keeping a lid on it
BUSINESS
Deutsche Bank sees India's CPI inflation dipping below 3% in July 2024
The last time headline retail inflation came in lower than the Reserve Bank of India's medium-term target of 4 percent, COVID-19 was yet to take off in China
BUSINESS
Retail inflation eases more than expected to 6.83% in August
The fall in India's headline retail inflation comes after it rose far more than expected in July to a 15-month high of 7.44 percent
BUSINESS
India, Saudi Arabia to explore trade in local currencies
The two countries have also agreed to expedite negotiations on the India-Gulf Cooperation Council free trade agreement
WORLD
G20 Summit: Turkiye President Erdogan hopeful of Black Sea grain deal revival
According to Erdogan, any effort to exclude Russia from a grain supply corridor is unlikely to succeed. Russia and Ukraine are major exporters of wheat, barley and edible oils, among other food products that poor and developing nations rely on
BUSINESS
G20 Summit: RBI to launch wholesale CBDC for call market by October
The RBI launched the pilot for its wholesale central bank digital currency in November. While there have been few transactions, RBI executive director Ajay Choudhary says the use cases are being tested in silos deliberately
WORLD
G20 Summit: A New Delhi Declaration without condemning Russia a fragile win for all
While the New Delhi Declaration said members reiterated their national positions on the war in Ukraine, explicit condemnation of Russia was conspicuous by its absence, making the joint statement a seemingly watered-down version of its predecessor
BUSINESS
G20 Summit: Jaishankar lauds China's role, says nothing to read into Xi's absence
Chinese President Xi Jinping decided to skip the G20 Leaders' Summit in New Delhi, with the world's second largest economy instead represented by Premier Li Qiang. However, the Indian government does not view this as a snub
BUSINESS
G20 pushes for Black Sea grain deal revival, end to attacks on food security infra
G20 Leaders' Summit: The New Delhi Leaders' Declaration has stressed the importance of the grain transport agreement to meeting the demand of developing and least developed countries, particularly those in Africa
BUSINESS
G20 Summit: PM Modi calls on world to turn global trust deficit into mutual faith
Delivering his opening remarks at the inaugural session of the Leaders' Summit in New Delhi, Prime Minister Narendra Modi also announced the inclusion of the African Union as a permanent member of the G20
BUSINESS
G20 Summit: US President Biden backs India for permanent UN Security Council seat
Biden's backing comes hours after António Guterres, Secretary-General of the United Nations, said the Security Council needed reforms to reflect the reality.
BUSINESS
G20 Summit: World a dysfunctional family, Security Council needs reform, says UN Secretary-General
According to António Guterres, G20 heads of states must show leadership on two key fronts: climate action and saving the Sustainable Development Goals
INDIA
India got over 1 lakh visitors during its G20 presidency, says chief summit coordinator
India assumed the year-long G20 Presidency in December last from Indonesia.
BUSINESS
G20 Summit: Sherpa Amitabh Kant says Leaders' Declaration 'almost ready'
G20 2023 summit: There is intense speculation about India's ability to bring together the G20 members and issue a joint statement when the world order is deeply divided over Russia's invasion of Ukraine
BUSINESS
CPI inflation set to fall to 7% in August, July IIP growth may rise to 5%
The statistics ministry will release the Consumer Price Index data for August and industrial production data for July later today at 5:30 pm
BUSINESS
IMF-FSB paper aims for crypto payment data by end 2025, says total ban tough to enforce
G20 New Delhi Summit: The synthesis paper, jointly written by the International Monetary Fund and the Financial Stability Board, was submitted to G20 members and discussed at the meeting of finance deputies in New Delhi ahead of the Leaders' Summit on September 9-10
BUSINESS
G20 Summit: War, food and energy security key sticking points ahead of leaders' meet
G20 New Delhi Summit: Language surrounding the description of the conflict between Russia and Ukraine is set to be the biggest hurdle between the G20 and a joint statement. However, India has been keen to make progress on other fronts
BUSINESS
India very ambitious about UPI, wants to internationalise it, sources say
Indian authorities have been aggressively pushing the use of India's digital payment products over the last one year in what seems to be a larger driver to internationalise the rupee
BUSINESS
Nomura, Deutsche Bank, Morgan Stanley, Moody's raise India growth forecasts
The upward revision in the growth forecasts comes despite the April-June GDP growth figure of 7.8 percent being broadly along expected lines
BUSINESS
Questions over govt's budget estimates as Q1 nominal GDP growth hits 9-quarter low
The government had assumed a nominal GDP growth of 10.5 percent while making its budget estimates for 2023-24. However, economists are predicting that the growth may only be in single digits
BUSINESS
No concern about inflation spiralling out of control, says CEA Nageswaran
According to the chief economic adviser, both the government and the RBI are taking measures such that any price increase is kept in check
