India’s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices. A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at gas stations in India. Retail prices of petrol and diesel are hovering near Rs […]
Despite concerns about rising global inflation, India’s inflation rate is likely to remain range-bound to moderate in coming months as domestic food prices are likely to come down, economists said. However, the inflation level may remain above an optimal comfort level of around 4%. The Reserve Bank of India had recently revised its projection for Consumer […]
In the second part of his extensive interview, Ed Moy, former director of the US Mint and currently the chief strategist for Valaurum, the US fractional gold retailer shares his outlook for gold, silver and precious metals amid the global economic uncertainty posed by the pandemic. Gold has been one of the best performers in any […]
Rising global crude oil price is seen to increase the already elevated inflation levels in the country, according to a report by Barclays. “We estimate that a $10/barrel increase in the price of crude oil, to $55/barrel from $45/bbl, which implies a Rs 5.8/litre increase at the pump, would add about 34 basis points to […]
Despite two successive record seasonal harvests, food inflation in India remains stubbornly high, prompting the government to announce this week that it will be soon importing certain vegetables. While the inflation rate is expected to ease in coming weeks, prices are unlikely to fall drastically any time soon. Retail inflation rose to 7.3% in September — […]
Gold backed Exchange traded funds recorded their tenth straight month of net inflows during September, a stretch matched only by periods seen in 2008 and 2016, according to the World Gold Council.. This has taken the gold assets under management to a record high of 3,880 tons, which is equal to a value of $235 billion. […]
The macroeconomic risks held forth by the Covid-19 outbreak would be severe for India, the Reserve Bank of India (RBI) said in its monetary policy report. The impact of the pandemic came at a time when the economy was just at the turn of a recovery, “but Covid-19 now “hangs over the future, like a spectre,” it […]
A surge in onion prices contributed around 70 basis points to retail inflation that scaled a 68-month peak of 7.59 per cent in January, chief economic adviser Krishnamurthy Subramanian said, stressing that the latest spike in inflation is “transitory” and is substantially driven by volatile vegetable prices and an unfavourable base, reported Financial Express.. He […]
Rising food prices pushed the retail inflation in November 2019 to over three-year high of 5.54 per cent, breaching the Reserve Bank’s medium-term target of 4 per cent, thus justifying the central bank’s decision to keep the benchmark interest rate unchanged in its monetary policy earlier this month. According to the data released by the […]
After months of despair, India’s manufacturing sector activity inched up in November 2019, but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a […]
