The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
He said the impact of the second wave of COVID-19 has waned by August,and economic growth will be better from the second quarter onward on a sequential basis. Speaking at an event organised by The Indian Express and Financial Times, Das said the RBI has decided to give more emphasis on growth because of the pandemic and operate in the 2-6 per cent inflation band set by the government for it. The central bank will seek to gradually move towards achieving the 4 per cent target over a period of time, he said, adding that the possibility of a sustained increase in inflation is unlikely.
The Prime Minister sought the athletes' support to raise awareness about the need for social distancing and personal hygiene at a time when the total number of COVID-19 positive cases in India has crossed 2,000. Hima Das expressed sadness at incidents of attacks on police personnel and doctors trying to discharge their duties during the country-wide lockdown to combat the COVID-19 pandemic.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
Using black rice in your idlis makes them more nourishing.
India batter Ishan Kishan on Wednesday returned to the Jharkhand Ranji team as its captain, following his controversial pullout last season
Many Dharmagurus attended the Shubh Ashirwad ceremony.
The Shubh Ashirwad ceremony was organised by Nita and Mukesh Ambani, and the gathering saw a distinguished assembly of spiritual leaders.
Alleging negligence in the construction of the temple, Das claimed that there was also no arrangement for the drainage of rainwater from the temple premises after the showers on Saturday midnight.
If he tenders an apology, we are going to think over it, said Madhya Pradesh HM Narottam Mishra.
Rammu Guru, the head priest of the temple, said, "Sai Baba was being worshiped without proper knowledge, which is forbidden according to scriptures."
Parag became the first cricketer from the Northeast to represent India in a T20I against Zimbabwe.
Rajya Sabha Chairman Jagdeep Dhankhar on Friday said a wad of currency notes was recovered by security staff from the seat allotted to Congress MP Abhishek Manu Singhvi.
He was a formidable musician but seemed utterly human, a Peter Pan who wore his genius with deceptive lightness. Sandip Roy remembers Ustad Zakir Hussain.
'The RBI's MPC will maintain the current policy rates (6.50%) at the policy meeting, given ongoing inflationary pressures.'
IMAGES from the fourth day of the first Test between India and Bangladesh at the Chepauk in Chennai on Sunday
Stating that growth impulses and the fast-moving indicators are strong, Reserve Bank Governor Shaktikanta Das on Wednesday exuded confidence of the economy clipping at the projected 9.5 per cent this fiscal. Giving all the credit for the faster-than-expected recovery of the economy to the government, Das said the central bank has only been supporting the government in reviving the economy ravaged by the pandemic. Citing a slew of measures the government has taken since the pandemic struck in March 2020, the governor specifically mentioned tax cuts on fuels, tax resolution for the telecom sector, annulling of the retro tax legislation, sale of Air India, plans to sell some of the public sector banks and PLI scheme as the major reforms and growth-drivers bearing fruits now.
Bangladesh looked in trouble at 74-4 but Das dug them out in a 93-run partnership with Mahmudullah to put them on course for an imposing total on a difficult wicket.
'I remember when the offer came in, I was conflicted.'
Days after the government said the Reserve Bank will introduce a digital currency in 2022-23, Governor Shaktikanta Das on Thursday said the central bank does not want to rush and is carefully examining all aspects before introduction of the Central Bank Digital Currency (CBDC). He, however, declined to give any timeline for the launch of the CBDC. In her Budget 2022-23 speech, Finance Minister Nirmala Sitharaman had announced that the RBI will introduce a digital currency in the next financial year beginning April 2022 to boost the digital economy and for more efficient currency management.
A civic volunteer, identified as Chandan Das (31), died on the spot when he allegedly touched a live wire in Bud Bud in Purba Bardhaman district. The incident happened when he was out with a police team, they said.
However, there was no report of any major damage or casualty so far even as the landfall process started more than an hour ago, the official said.
Shreyas Iyer continued with his red-hot form, smashing a stroke-filled 233 to lead Mumbai to a massive 602/4 declared in their Ranji Trophy Elite Group A match against Odisha.
All We Imagine As Light remains heart-warmingly affecting because you know experiences like this are few and far between. Payal Kapadia's film-making voice must be cherished, asserts Mayur Sanap.
President, PM hail Hima Das after unprecedented feat
Bangladesh middle-order batter Towhid Hridoy is expecting the pitch to play slow in the T20 series opener against India as both teams enter unknown territory with the Shrimant Madhavrao Stadium hosting its first international match on Sunday.
In response to the tragic incident, many committees scaled back their celebrations significantly.
India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with global sales increasing to the greatest extent in over 13 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.8 in April to 57.5 in May, signalling a slower but substantial improvement in the health of the sector. The index had climbed to a 16-year high of 59.1 in March.
Punjab, starting the penultimate day on 73/3 and needing 144 more runs, crumbled under pressure from Sindhu's relentless spin and Jayant Yadav's precise off-spin (3/35 in 10.4 overs), collapsing well before lunch and handing Haryana their second outright win in four matches.
Proceedings of both Houses of Parliament were disrupted on Monday as the treasury benches accused top Congress leaders of colluding with billionaire investor George Soros to destabilise the country, triggering protests from opposition members.
'She showered me with so much love that I can never forget her warmth and grace.' 'And what a teacher she was!'
'Even my normal balls felt like slower balls compared to his pace'
By sacrificing an important component of the right to free speech, we have strengthened the hands of the fundamentalists, the bigots and the publicity-seeking goondas. And of the hate-filled political establishment, points out Vir Sanghvi.
Stressing that economic growth will only move upwards, the Reserve Bank of India Governor Shaktikanta Das on Friday pegged the GDP growth rate for the next financial year at 10.5 per cent, though a tad lower than the government's projection of 11 per cent. The projection is in line with the estimates in the Union Budget 2021-22 presented in Parliament earlier this week. The Economic Survey, tabled by the government in Parliament recently, has projected that the economy will grow at 11 per cent, up from an estimated historic decline of 7.7 per cent in 2020-21, on account of the COVID-19 pandemic.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Even a whiff of an incident like the violent 1989 shirt-ripping attack on Krishnamachari Srikkanth by a Karachi spectator would be ruinous. It would set back the ties further, derail an ongoing tournament, and harden Indian attitudes on playing Pakistan anywhere at all, asserts Shekhar Gupta.
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