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 […]
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 […]
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has reduced repo rate by 25 basis points to 6.25 per cent per annum from 6.5 per cent p.a. The apex bank panel has reduced the key interest rate on expectation of inflation staying within its target range, which is a good news for people […]
Retail inflation dropped to a 17-month low in November at 2.33 per cent, mainly on account of decline in prices of kitchen essentials like vegetables and pulses. Retail inflation, which is calculated on the consumer price index (CPI), for October this year has been revised slightly up at 3.38 per cent from 3.31 per cent […]
Fitch Ratings has lowered India’s GDP growth forecast to 7.2 per cent for current fiscal citing higher financing cost and reduced credit availability. In its Global Economic Outlook, Fitch projected that for 2019-20 and 2020-21 financial years, India’s GDP growth will be 7 per cent and 7.1 per cent respectively. Fitch had in June projected […]
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 […]
In India prices of key food items from vegetables to sugar and pulses continue to run well below last year, keeping retail inflation below the central bank, RBI’s target for the third consecutive month. Inflation as measured by the Consumer Price Index (CPI) stood at 3.31 per cent in October 2018 compared to 3.70 per […]
Swiss brokerage UBS has lowered India’s growth estimate to 7.3 per cent from the earlier 7.5 per cent, citing a likely deceleration in the second half of the fiscal due to global headwinds and the rising oil prices. However, in the last monetary policy review in October, the RBI had stuck to its 7.4 per […]
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 […]
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 […]