RBI's MPC Committee airs concern about trends in food inflation
Mumbai: All the six members of Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) expressed concern over food inflation, and two external members cautioned against the elevated real interest rates as headline inflation nears its 4 percent target, media reports said, citing the minutes of the meeting.
India’s inflation expected to ease to 4.6% in the first three qtrs of next fiscal: RBI Bulletin
Mumbai: India’s inflation is anticipated to ease to 4.6% during the first three quarters of the fiscal year 2024-25 (FY25), according to the Reserve Bank of India's December 2023 bulletin released on Wednesday.
India's traded bond outstanding grows to Rs 205 lakh cr in Sept qtr: Report
New Delhi: The government’s overall outstanding bonds traded in the country increased to USD 2.47 trillion (Rs 205 lakh crore) in the September quarter compared to USD 2.34 trillion (Rs 200 lakh crore) in the previous fiscal's March quarter, according to a report.
RBI's statistical model predicts India's FY25 GDP growth at 6%
Mumbai: The Reserve Bank of India's statistical model predicts India's GDP growth for the next year (FY25) at 6.0%, which is 50 basis points lower than the central bank's official forecast of 6.5%.
India's November merchandise deficit narrows by 2.84% YoY to $20.58 billion
New Delhi: After reaching a record high in October, India's merchandise trade deficit contracted to $20.58 billion in November 2023, primarily due to a substantial decline in gold imports, as reported by the commerce ministry on December 15.
India's retail inflation spikes to 5.55 pc in November: Govt data
Driven primarily by food prices, India's consumer price index (CPI)-based inflation inched up to 5.55% in November 2023 from 4.87% in the previous month.
RBI increases GDP growth forecast for FY24 to 7% amid geopolitical turmoil
Mumbai: The GDP growth projection for 2023-24 has been increased to 7%, from the previous estimate of 6.5%, Reserve Bank of India (RBI) Governor Shaktikanta Das said During the Monetary Policy Committee meeting announcements on Friday.
India's foreign exchange reserves surge by $ 2.538 billion to $ 597.935 billion
Mumbai: India's foreign exchange reserves swelled by USD 2.538 billion, reaching USD 597.935 billion for the week ending November 24, according to the Reserve Bank.
New Delhi/UNI: Painting a rosy picture of the economy and stating that the Indian economy remains the fastest-growing economy in the world, Finance Minister Nirmala Sitharaman on Thursday said that all sectors of the economy are performing well.
India's wholesale inflation remains in negative zone in October
Remaining in the negative zone, India's wholesale inflation dropped to - 0.52% in October 2023, as against - 0.26% in the previous month.
India set to become third-largest economy by 2030 with GDP of over $7 trillion: S&P Global
New Delhi: India, presently the world's fifth-largest economy, is poised to surpass Japan and secure the position of the third-largest global economy with a Gross Domestic Product (GDP) of $7.3 trillion by 2030, S&P Global Market Intelligence has projected in its latest Purchasing Manager’s Index (PMI) report.
India likely to achieve fiscal deficit target despite high expenses: IMF
New Delhi: The International Monetary Fund (IMF) stated on Thursday that India has the capacity to incorporate additional spending on subsidies and rural employment initiatives without surpassing the current fiscal deficit target of 5.9% set for this financial year.
India's retail inflation drops to 5 pc in Sept, below RBI's upper band
New Delhi: India's retail inflation measured by consumer price index (CPI) eased to 5.02% year-on-year in September 2023 from 6.83% in the previous month on the back of softening food prices, showed the data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday.
India's industrial production zooms 10.3 pc in August
New Delhi: India's index of industrial production (IIP) rose 10.3% year-on-year in August FY24 on the back of a surge in mining and electricity sector output, data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday showed.
India must aim for 8% growth rate to surpass China: Barclays
New Delhi: For India to surpass China and emerge as the leading contributor to global growth, it would have to aim for an 8 percent growth rate, a Barclays report said.