Fitch Ratings joins S&P and Moody’s in trimming India outlook to `negative’

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Fitch Ratings retained its sovereign rating for India at the lowest investment grade of BBB negative, and trimmed its outlook to ‘negative’ from ‘stable’, citing a sharp Covid-induced deterioration of the country’s growth and fiscal metrics. In a statement, Fitch said: “The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed […]

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Government asks RBI to remove sugar from negative list as virus hits consumption

The Covid-19-triggered lockdown has resulted in a drastic fall in sugar consumption across the country, as most sweetmakers were on a sabbatical. The lockdown has also accumulated farmer arrears. Against such stark realities, the central government is believed to have advised the Reserve Bank of India (RBI) to remove the beleaguered sugar sector from its […]

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Gold ends 2019 on shiny note; may hit Rs 45,000 per 10 gram in 2020

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Gold is set to remain more expensive in the New Year as continuing geopolitical tremors, economic woes and rupee volatility are expected to push the yellow metal even to Rs 45,000 for 10 gram, says a PTI report. Thanks to various government policies and soaring stock market, gold witnessed periodic as well as steep price fluctuations in […]

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After onion, cooking oil prices bring tears to Indian households

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After onion prices meteoric surge, cooking oil is also expected to hit the grocery bills of Indian households as edible oils have registered a rising trend due to costlier imports. Prices of almost all edible oils have increased and due to “costlier imports from Malaysia and Indonesia, edible oil prices are likely to see a […]

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India’s real GDP growth in FY20 likely to be below 5%: IHS Market report

India’s real GDP growth in the 2019-20 fiscal is expected to be slightly below 5 per cent as the impact of stimulus measures will take time to filter through to the economy, IHS Markit has said. The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth […]

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India’s central bank pauses after five rate cuts, lowers 2019-20 GDP growth rate to 5%

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The Reserve Bank of India (RBI) on Thursday kept the interest rates unchanged, pausing after five straight cuts, but lowered the country’s economic growth forecast for the 2019-20 financial year to 5 percent from an earlier 6.1 percent. The RBI also raised its inflation forecast for the second half of the year to between 5.1-4.7 […]

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