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Depositors are now more likely to park their monies in attractive bank fixed deposits, instead of government-backed savings schemes, where rate adjustments tend to happen with a lag
Softer growth outlook and improvement in inflation picture suggests that the hiking cycle is now at an end. In fact, by the end of 2023, the RBI could be laying the groundwork for rate cuts, according to Capital Economics.
“Economic activity in India remains resilient, while investment activity continues to gain traction, and rural demand continues to show signs of improvement,” RBI Governor Shaktikanta Das said
This service will be permitted to travelers from G-20 countries arriving at select international airports.
However, foreign capital outflows restricted the gain in the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.68 against the dollar, then gained further ground to 82.66, a rise of 10 paise over its last close. In early deals, it was moving in a tight range of 82.69-82.65.
Yellen said inflation remained too high, but it had been falling for the past six months and could decline significantly given measures adopted by the Biden administration
Modi met top oil and gas industry leaders for the annual brainstorming to discuss ideas and initiatives to put India on a sustainable growth path, sources aware of the matter said.
The country currently has five tax rates for GST, which was introduced in 2017, bringing numerous state taxes under one umbrella. They range from 0% to 28%.
Brent crude futures rose 17 cents, or 0.2, to $80.11 a barrel at 0946 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped a cent to $73.38.
The ban comes along with a price cap agreed by the Group of Seven allied democracies. The goal is allowing Russian diesel to keep flowing to countries like China and India and avoiding a sudden price rise that would hurt consumers worldwide, while reducing the profits funding Moscow's budget and war.
The TN minister said East Asian countries, particularly South Korea and Japan, are looking forward to investing elsewhere when the world is recovering from COVID-19, adding that India can step up its engagements with global finance and reap the benefits.
For much of the last two years, Americans’ pay couldn’t keep up with the rising cost of staples like food, rent or gasoline. But with price increases now slowing down, workers are finally seeing their inflation-adjusted incomes start to rise
Asset monetisation is being done by government entities and the money goes to them, and they use it to invest it further, says the secretary to the department of economic affairs under the finance ministry
The budgetary estimates this time are 14.52 per cent more than the 2022-23 amount of Rs 45,949 crore.The BMC administration presented the budget to municipal commissioner Iqbal Singh Chahal, who was appointed as the civic body’s administrator by the state government in March last year after the five-year term of corporators ended.
”Growth is the main focus. We want to sustain that recovery, sustain that growth,” Sitharaman, accompanied by the top ministry officials at the outreach event, said.
National Platform for the Rights of the Disabled (NPRD) in its press statement states that despite the rhetoric of 'Inclusive India' with Inclusive Development right at the top of the government's seven-priority 'Saptarishi' approach, the persons with disabilities continue to be ignored by the State.
By 2051, India may have an additional 335 million urban population. Several new cities will be needed to settle them
”Feedback from the market participants is that a borrowing of 15.5-16 trillion rupees can be absorbed well in the next financial year,” one of the officials told Reuters.
A cut in the import duty by the world’s second-biggest consumer could lift retail sales by making gold cheaper ahead of peak demand season and support global prices.
Bolstering such prospects are China’s reopening after pandemic lockdowns, evidence of slowing inflation, and the assured views of some senior European officials that their economies won’t suffer recessions
The broader bond market is also signalling that a Federal Reserve policy rate peak short of 5 percent will be enough to cause a recession, requiring rate cuts totaling half a point during the second half of the year
Investors and economists continue to doubt Fed forecasts that rates will rise to above 5 percent from their current level just below 4.5 percent
The objective during 2023 is to tether inflation therein so that it aligns with the target by 2024, the second milestone, the said the article auhtored by a team lead by RBI Deputy Governor Michael Debabrata Patra.
The present import duty on aluminium and aluminium products is 10 per cent. Aluminium, a resilient metal that retains its fundamental properties even when recycled, is widely utilised.
At present a GST of 18 per cent is levied on helmets. ”IRF…in a letter written to the Union finance minister Nirmala Sitharaman has demanded reduction of GST on life saving device helmets for safety of the two-wheeler riders from present 18 per cent to 0 per cent in the forthcoming Union Budget 2023-24,” the global road safety body said.
