India’s Wholesale Price Index inflation rises to 3.18% in March 2019 on costlier food, fuel; retail inflation rises by 2.86%

Wholesale price-based inflation rose for the second consecutive month to 3.18 per cent in March on costlier food and fuel, latest government data showed. The Wholesale Price Index (WPI) based inflation was at 2.93 per cent in February. It was 2.74 per cent in March 2018. Inflation in food articles hardened with steep rise in […]

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India’s GDP grows at 6.6% in third quarter of FY2019

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India’s Gross Domestic Product (GDP) grew a lower-than-expected 6.6 per cent in the October-December period, the lowest in five quarters, dragged by lower farm and manufacturing growth, government data showed. India’s GDP growth was revised down to 7 per cent from 7.1 per cent in the second quarter ended September 30, 2018, according to data released […]

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China declines India’s proposal for renminbi-rupee trade

China has not accepted India’s proposal to carry out bilateral trade in local currencies which was aimed at bridging the ballooning trade deficit with the neighbouring country. India had suggested China for renminbi-rupee trade to boost its exports and tackle the widening trade deficit concern. China has declined India’s proposal. India’s exports to China stood at […]

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RBI’s gold assets rose by 6.8 tonnes to 579.9 tonnes in Sept, says WGC

The Reserve Bank of India (RBI) purchased 6.8 tonnes of gold in September 2018, taking its total gold reserves to 579.9 tonnes, the World Gold Council said, citing data from the International Monetary Fund’s International Financial Statistics. The central bank’s gold purchases came amid an intensifying trade war between China and the US, and increasing […]

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India’s central bank buys gold for the first time in 9 years to diversify assets

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The Reserve Bank of India (RBI) has said it added 8.46 tonnes of gold in its kitty during the last fiscal in its efforts to diversify the country’s foreign currency assets, taking its holdings to 566.23 tonnes of the yellow metal. “Diversification of India’s Foreign Currency Assets continued during the year [2017-18] with attention being […]

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