Retail inflation jumps to 7.44 pc in July; crosses RBI's upper tolerance band
Aug 17, 2023, at 05:58 am
New Delhi: India's retail inflation measured by the consumer price index (CPI) shot up to 7.44% year-on-year in July 2023 driven primarily by high food prices.
Crisil projects Indian economy to grow at 6 pc in FY24
Aug 17, 2023, at 04:46 am
New Delhi: Noting that global slowdown and erratic monsoon could affect the direction of industrial growth in coming months, rating and research firm Crisil on Wednesday said that the Indian economy would grow at 6% in the current financial year.
India's June industrial output grows by 3.7%
Aug 12, 2023, at 09:37 pm
New Delhi: India's industrial output expanded by 3.7 percent in June, according to the Ministry of Statistics and Programme Implementation.
RBI’s policy hawkish to the rising inflationary risks: HDFC treasury research
Aug 10, 2023, at 11:51 pm
Mumbai: The RBI kept its policy rate unchanged at 6.5% in line with expectations. Moreover, it continued with its stance of “withdrawal of accommodation” with a 5:1 vote.
India's Gross Fixed Capital Formation grew to Rs 54.35 lakh crore since 2014-15
Aug 01, 2023, at 06:08 am
New Delhi: The Gross Fixed Capital Formation (GFCF) in the Indian economy has shown a significant increase, rising from Rs. 32.78 lakh crore (at constant 2011-12 prices) in 2014-15 to Rs 54.35 lakh crore in 2022-23 (based on Provisional Estimates).
8 core sectors grow at a record 8.2% in June
Aug 01, 2023, at 04:57 am
New Delhi: India's eight core sectors registered a growth of 8.2 percent in June, the Ministry of Commerce and Industry said on Monday.
Lower Kharif sowing due to erratic rainfall likely to push inflation up in near term: Report
Aug 01, 2023, at 02:13 am
New Delhi: Lower rainfall in the eastern and northeastern region has resulted in much lower Kharif sowing this year which is expected to translate into higher inflation in the near term, according to an economic report by Bank of Baroda.
India's growth rate can push its poverty elevation efforts: World Bank President Ajay Banga
Jul 20, 2023, at 03:11 am
New Delhi: India’s growth rate can be the vantage point in its poverty elevation efforts, according to World Bank President Ajay Banga.
FY23 GDP growth may be higher than 7.2 pc when final revision comes: CEA
Jun 10, 2023, at 08:08 am
Lucknow: Chief Economic Advisor (CEA) V Anantha Nageswaran on Friday said India will grow at 6.5-7% in financial year 2023-24 amid an encouraging environment for business investments and fast-paced digital transformation.
Record diesel and gasoline sales in May indicate strong demand
Jun 10, 2023, at 06:47 am
New Delhi: India's May diesel and gasoline sales reached record levels, providing a rare positive indication for the global oil markets, Bloomberg reported.
Jun 10, 2023, at 04:16 am
Lucknow: Chief Economic Advisor (CEA) V Anantha Nageswaran on Friday said the concept of Universal Social Security is not good for developing economies like India, which need to work on economic growth to realise the aspirations of their citizens.
RBI keeps repo rate unchanged: Here’s what the banking and finance industry has to say
Jun 09, 2023, at 07:46 am
Mumbai: As expected, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), after three days of deliberation, on Thursday kept the repo rate unchanged at 6.5%.
May GST collection grows 12% YoY to Rs 1,57,090 cr
Jun 02, 2023, at 03:20 am
New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.
Morgan Stanley hails India for its growth in last 10 yrs
Jun 02, 2023, at 03:00 am
Highlighting the reforms that took place in India since 2014, US-based financial services company Morgan Stanley in its latest report said “this India is different from what it was in 2013”.
India is different from what it was in 2013, gained position: Morgan Stanley Research report
Jun 01, 2023, at 01:46 am
A report published by Morgan Stanley Research said India has gained positions in the world order with significant positive consequences for the macro and market outlook.
Output of eight core sectors slows down to 3.5 pc in April
May 31, 2023, at 11:37 pm
New Delhi: The output of eight core infrastructure sectors slowed down to 3.5% in April 2023 as against 9.5% in April, 2022, revealed data released by the Ministry of Commerce & Industry on Wednesday.
May 31, 2023, at 06:20 pm
Mumbai: Around 80% of the total Rs 2000 notes received are deposited and the rest 20% are exchanged for smaller denominations as per market trends. Even if a fraction of these trends is extrapolated at the banking level, the liquidity in the banking system will shoot much higher compared to previous estimates of around Rs 1 trillion bulge in deposits even if a fraction, said SBI Ecowrap report on Tuesday.
India's FY23 GDP growth likely to surpass 7%, manufacturing sector to rebound: SBI report
May 27, 2023, at 07:00 am
Despite the global economic slowdown, India is expected to continue its showdown in pursuing a different pathway of zeroing in on drivers of growth, looking for a renewed surge in resilient manufacturing while supporting the services sector to embrace enhanced efficiency, an SBI report said on Friday.
With GDP surpassing $3.5 trn in 2022, India to be fastest-growing G20 economy: Moody's
May 24, 2023, at 05:41 am
New Delhi: India's GDP has surpassed USD 3.5 trillion in 2022 and the country will be the fastest-growing economy within the G-20 grouping in the coming years, US-based rating agency Moody's stated on Tuesday.
RBI transfers Rs 87,416 cr dividend to govt; Rs 40,000 cr more than expected
May 20, 2023, at 05:42 am
Mumbai: The central board of directors of the Reserve Bank of India (RBI) has given its approval for the transfer of Rs 87,416 crore as a dividend to the Centre, media reports said.
Core sector growth dips to five-month low of 3.6% in March
Apr 29, 2023, at 05:06 am
New Delhi: The combined output of India's eight core industries dropped to a five-month low of 3.6% year-on-year in March 2023 as against 7.2% in the previous month, data from Commerce Ministry showed on Friday.
Apr 29, 2023, at 02:26 am
Washington/New Delhi: India is expected to be the world's fastest-growing economy, despite facing significant challenges like financial sector turbulence, inflationary pressures, the impact of the Russia-Ukraine conflict, and the continued effects of the Covid-19 pandemic in the last three years, according to the International Monetary Fund's World Economic Outlook report.
IMF cuts India's FY24 growth rate to 5.9 pc
Apr 12, 2023, at 06:25 am
The International Monetary Fund (IMF) has reduced its GDP growth estimate for India for the financial year 2023-24 by 20 basis points to 5.9 percent.
FM Sitharaman holds roundtable with investors, biz leaders during US visit
Apr 12, 2023, at 01:55 am
Washington: Finance Minister Nirmala Sitharaman on Monday attended a roundtable meeting with business leaders and investors, co-hosted the by Confederation of Indian Industry (CII) and US-India Business Council in the US Chamber, in Washington, DC.
Indian economy continues to show resilience amid global uncertainties: World Bank
Apr 05, 2023, at 03:10 pm
New Delhi: India’s growth continues to be resilient despite some signs of moderation in growth, says the World Bank in its latest India Development Update, the World Bank India’s biannual flagship publication.
India's banking system strong amid turmoil in global markets: PM Modi
Mar 19, 2023, at 04:52 am
New Delhi: India's economic and banking systems remain robust, even in the midst of the current turmoil battering global markets, Prime Minister Narendra Modi said on Saturday.
Apple plans to make India its sales engine amid record revenues in the region: Report
Mar 10, 2023, at 01:17 am
iPhone maker Apple is focussing on India as its priority region amid a significant increase in demand for Apple products in the country. The plans include the elevation of its head of India and making the country sales engine for Apple, media reports said.
India's coal and power supply stretched to limit amid rapid growth in economic activities
Mar 09, 2023, at 02:19 am
New Delhi: The power generators and coal mines in India are currently experiencing significant pressure to keep up with the escalating demand for electricity, which has been fuelled by the country's rapidly expanding economy and swift electrification efforts, Reuters reported.
Moody's improves India's 2023 growth projection to 5.5% on higher capex allocation in Budget
Mar 02, 2023, at 05:20 pm
New Delhi/IBNS: Moody's Investors Service, on Wednesday, increased its prediction for India's economic growth in 2023 from 4.8% to 5.5%.
India’s GDP growth decelerates to 4.4 pc in Q3FY23, services sector continues robust revival
Mar 01, 2023, at 02:54 am
New Delhi: India's real gross domestic product (GDP) for the October-December quarter (Q3) of the current fiscal year decreased to 4.4%, compared to 6.3% in the previous quarter, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) showed on Tuesday.