Moody’s has revised its 2023 growth projections. Image for representational purpose only. | Photo Credit: Reuters Global rating major Moody’s Investors Service has scaled down its GDP growth forecast for India’s economy to 6.8% for 2022-23, from an earlier projection of 7%. At the same time, it has raised the growth projection for 2023-24 to […]
Continue ReadingTotal GST revenues between April 2022 and January 2023 stand at ₹14.9 lakh crore. File | Photo Credit: K.V.S. Giri India’s Goods and Services Tax (GST) revenues grew 12.7% in January 2023 to hit almost ₹1.59 lakh crore, the second highest monthly collections on record, as per revised figures from the Finance Ministry. Earlier estimates […]
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The Reserve Bank of India need not keep raising rates until prices fall as it risks overshooting the inflation-adjusted real rate, which at around 1% now is appropriate for the economy, an external member of the country’s monetary policy committee said. The 250 basis points of rate hikes since May 2022 need to be allowed […]
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Former Niti Aayog Vice-Chairman Rajiv Kumar. | Photo Credit: PTI India is likely to clock 6% growth rate next fiscal and the country can persevere with a high growth rate because of several reforms undertaken during the last eight years by the Narendra Modi Government, former Niti Aayog Vice-Chairman Rajiv Kumar said on February 19. […]
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United Kingdom MP Bob Blackman in Jaipur recently. | Photo Credit: PTI Noting that the British government regards India as a strong friend and a strong ally, United Kingdom MP Bob Blackman has said that India has done a remarkable job under Prime Minister Narendra Modi in transforming the economy and the country is on […]
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Illustration for representation | Photo Credit: Getty Images The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve’s aggressive monetary policy stance to tame inflation. The rupee finished the year at 82.72 to the U.S. […]
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Multiple headwinds at varied points of time impacted the Indian economy’s thorough economic revival in the calendar year 2022. The year started with the threat emanating from the Omicron variant which settled towards the later end of the succeeding month. This was followed by the Russian actions in Ukraine and the ensuing disturbances in global […]
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Vegetable prices fell dramatically in November to bring inflation below 6%, but cereals and pulses’ price rise continue to accelerate. | Photo Credit: AFP The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps […]
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Reserve Bank of India Governor Shaktikanta Das. File photo | Photo Credit: PTI Reserve Bank of India Governor Shaktikanta Das on Wednesday, December 21, 2022 said underlying economic activity in India continues to be strong, but external factors will cause some “dent” to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business […]
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Reserve Bank of India (RBI) Deputy Governor Michael Patra. File. | Photo Credit: Reuters The balance of risks is increasingly tilted towards a darkening global outlook and emerging market economies (EMEs) appear to be more vulnerable, even though incoming data suggest that global inflation may have peaked, Reserve Bank of India officials led by Deputy […]
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