India’s manufacturing sector activity growth inches up in November 2019: IHS Markit

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 […]

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Fitch Ratings projects India’s FY20 growth to slow down to 5.5%; IMF estimates a rebound to 7% next fiscal

Fitch Ratings has slashed India’s GDP growth forecast in the current fiscal to 5.5 per cent saying a large credit squeeze emanating from shadow banks has pushed economic growth to a six year low. Fitch, which had in June this year put India’s GDP growth at 6.6 per cent for the fiscal year that began […]

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Indian economic growth ‘much weaker’ than expected: IMF; Industrial production growth slows to 4.3% in July 2019

India’s economic growth is “much weaker” than expected, the IMF said, attributing the reasons to corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies. The International Monetary Fund (IMF) projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, […]

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Rising gold prices boost India’s forex reserves

The Reserve Bank of India’s (RBI’s) strategy to add gold to forex reserves has started bearing fruits. The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling. According to the RBI’s forex reserves data, put out every week, its foreign currency reserves […]

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NCAER pegs India’s GDP to grow at 6.2% in FY20; RBI cuts repo rate by 35 basis points

After CRISL cutting down India’s GDP growth estimate to 6.9 per cent, India’s GDP growth is likely to be 6.2 per cent during the current fiscal, down from 6.8 per cent in 2018-19, on account of flat growth in agriculture sector, economic think-tank National Council of Applied Economic Research (NCAER) said. The prospects for agricultural […]

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