[ad_1] 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 […]
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[ad_1] 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 […]
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[ad_1] 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 […]
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[ad_1] 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 […]
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[ad_1] 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 […]
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[ad_1] In September, Fitch projected 7% growth for the current fiscal, followed by 6.7% in 2023-24 and 7.1% growth in 2024-25. File Fitch Ratings on December 6 retained India’s economic growth forecast at 7% for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global […]
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[ad_1] Labourers work at the construction site of a commercial complex in New Delhi. File photo | Photo Credit: Reuters The report sees average retail inflation at 7.1 this year. India’s economy is expected to grow 6.9% in the current fiscal year, the World Bank said in a report on Tuesday, December 6, 2022., citing […]
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[ad_1] Former Finance Minister P. Chidambaram. File | Photo Credit: Karunakaran M. Former Finance Minister P. Chidambaram has panned the government claiming it is living in denial about the internal factors responsible for the economic downslide in the context of the latest Gross Domestic Product (GDP) numbers for the second quarter of this financial year. […]
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[ad_1] Image for representation purpose only. | Photo Credit: Reuters Manufacturing and mining output contracted year-on-year in the July-September quarter, dragging Gross Value Added growth to a slower-than-expected 5.6%, which together with high inflation and weak exports combined to slow overall Gross Domestic Product (GDP) growth to a 6.3% pace, as per estimates released by […]
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[ad_1] S&P projected inflation to average 6.8% in current fiscal year and RBI’s benchmark interest rate to rise to 6.25% by March 2023. S&P Global Ratings on November 28 cut India’s economic growth forecast for current fiscal year to 7%, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in […]
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