Finance Minister Nirmala Sitharaman called for more affordable borrowing costs to support industrial growth, addressed inflation concerns driven by perishable commodities, and emphasized the need for ethical banking practices and robust MSME lending.
The paper by think-tank National Council of Applied Economic Research addresses the ongoing debate among policymakers over whether food prices should be stripped from inflation targeting.
With Brent Crude boiling hot for five straight days, experts warn that if it crosses $90 per barrel, India's inflation party might be cut short
The next cue for markets is the Federal Reserve's December policy outcome, which is expected later in the day. While the US central bank is expected to hold rates, its commentary will be closely tracked for clues to the rate-cut path
Headline CPI dropped to a four-month low at 4.9% YoY in October from 5% YoY in September.
The duty had been imposed in August, after headline inflation rose to 7.8 per cent in July due to a surge in prices of food items such as wheat, rice and vegetables
To counter rising prices, the government has implemented measures like lowering tomato prices through agencies, enforcing rice export bans, and releasing wheat via the open market sale scheme to stabilize essential commodity prices.
While food inflation has gone up in India, core inflation is lower, while in the US the chances of an Immaculate Disinflation have improved, propelling markets higher
"It is natural people will talk about price rise. But, also keep in mind some factors, such as the effect on the economy because of coronavirus, recession and supply chain issues due to the Ukraine war," he said.
At 4.25%, CPI-based inflation for May is the lowest in 25 months and is below consensus estimates of 4.4%.
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Swap rates were right in predicting the RBI’s fast-paced rate hikes that began in May 2022. It is likely the current rate cut signals of swaps are right too
India accounts for almost a quarter of the world’s milk supplies, but those massive volumes are produced in large part by tens of millions of small farmers who maintain modest numbers of animals. The drop in demand meant they were unable to feed their livestock well.
The report estimates India's inflation to moderate from 6.6 per cent to 5.5 per cent in the current fiscal.
Supported by the gains from high services exports, the moderation in oil prices, and the recent fall in import-intensive consumption demand, India's current account deficit is estimated to fall in FY23 and FY24, providing a buffer to the rupee in uncertain times, Monthly Economic Review by the ministry said.
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Congress leaders, including Rahul Gandhi, Priyanka Gandhi and Shashi Tharoor, were detained while marching to Rashtrapati Bhavan to mark their protest against inflation, price rise, GST and unemployment on August 5.
Inflation could trend still higher in the coming months because of petroleum products, coal and edible oil
Whatever measures were needed from the fiscal side, those have been taken and as far as monetary authority is concerned, RBI is also taking measures, the official added.
In an interview with CNBC-TV18, Chetan Ahya shares his views on April inflation numbers and the balance of payments deficit.
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The base will remain unfavourable in January, too, and CPI inflation will go past 6 percent, the upper bound of the RBI's inflation mandate.
If you are wondering what is the fuss about inflation, here is a primer on what high prices mean for the global and Indian stock markets.
Policy flip-flops should be avoided. The new framework should be given time.
India's food inflation, a key driver of its headline inflation, remains uncomfortably high and is being steered by fundamental factors, a deputy governor of the RBI said on Thursday.