Households are likely to remain the primary net lenders to the economy in the coming decades.
An article on 'State of the Economy' in the monthly Bulletin also said the improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetable prices halted the overall disinflation that had been underway, it 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.
According to an official, the march took a different turn in the town instead of going towards KB Road as permitted, and it led to a "chaotic situation" in the area.
Wriddhiman Saha is making a comeback to his home state Bengal two years after a public fallout.
India is likely to grow by 7.5 per cent in the first quarter of the current financial year, driven by rising aggregate demand and non-food spending in the rural economy, according to an article in the RBI's May Bulletin released on Tuesday. The Indian economy has demonstrated marked resilience in the face of geopolitical headwinds impacting the supply chain, said an article on the state of the economy published in the May Bulletin.
'In Parliament, he was the one person who stood for democracy and secularism even when the principal Opposition party was not very forthright in taking on the BJP and RSS.'
India can sustain 8 per cent annual GDP growth and the conducive macroeconomic configuration may become a launching pad for a step-up in the country's growth trajectory, said an article on the 'State of Economy' in the central bank's March Bulletin published on Tuesday. Over the period 2021-24, gross domestic product (GDP) growth has averaged above 8 per cent. The global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators, pointing to further levelling in the period ahead, said the article authored by a team led by RBI Deputy Governor Michael Debabrata Patra.
Hundreds of rural women who gathered to collect forms for a newly announced government scheme in Jorhat district of Assam left their queues to greet Congress leader Rahul Gandhi, who was leading the 'Bharat Jodo Nyay Yatra' through the area on Thursday.
Rahul Gandhi was booked on Tuesday for 'wanton acts of violence' by the Assam Police as the political confrontation between the Congress leader and state Chief Minister Himanta Biswa Sarma escalated on the tenth day of the 'Bharat Jodo Nyay Yatra', with Gandhi asserting that he does not get 'intimidated' by such tactics.
Senior Assam Congress leader Debabrata Saikia has filed a police complaint against Chief Minister Himanta Biswa Sarma for his alleged "hateful statement" such as Lok Sabha MP and former party president Sonia Gandhi's "residence should be burnt".
For a state that has given batting stalwarts like Virender Sehwag, Virat Kohli, Gautam Gambhir, Shikhar Dhawan and Rishabh Pant over the past two decades, it is embarrassing to find someone of Kshitiz Sharma's (4 off 18 balls) calibre being asked to open the batting.
The issue was first raised by Congress MLA Kamalakhya Dey Purkayastha during Question Hour, when he asked Revenue and Disaster Management Minister Jogen Mohan if the land in the Kaliabor area was allotted under the state's 'Basundhara' scheme.
Members of the Congress and AIUDF, protesting against a Cabinet decision to repeal the Assam Muslim Marriages and Divorces Registration Act, 1935, staged walkouts later.
Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank's comfort zone of 6 per cent, said an article in the RBI's monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in the preceding month, mainly due to soaring prices of tomato, vegetables and other food items. In his address to the nation on the Independence Day, Prime Minister Narendra Modi vowed to take more steps to contain price rise.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
The continuing global uncertainity has complicated the fight against inflation, opined Reserve Bank Deputy Governor Michael Debabrata Patra during the Monetary Policy Committee meeting held on February 8. According to the minutes of the MPC meeting released on Wednesday, RBI Governor Shaktikanta Das also mentioned that there is considerable uncertainty due to a host of global factors such as rising non-oil commodity prices. The RBI on February 8 hiked the key short-term lending rate by 25 basis points to 6.5 per cent, citing sticky core inflation.
The efforts of Aryan Juyal (76) and Karan Sharma (67) stood out as Uttar Pradesh held nerves to beat 41-times champions and hosts Mumbai by two wickets in a Ranji Trophy match on Monday.
The decision is expected to provide a push for their development in healthcare, cultural identity, education, financial matters, skill development and women empowerment among others, the Chief Minister's Office said in a statement.
Roundup for Ranji Trophy matches played on Friday
Veteran wicketkeeper-batter Wriddhiman Saha on Thursday made it official to the Cricket Association of Bengal that he is 'not willing' to play for the state team in the upcoming Ranji Trophy knockout games.
Wriddhiman Saha dropped a bombshell on the CAB by seeking an NOC to leave his domestic Ranji side Bengal.
As soon as the House reassembled, Sarma stood to give his reply, which was objected by all opposition members saying "the matter was over".
Srinivas was accompanied by his lawyer and Assam Congress leaders, including MLAs Rakibul Hussain and Rekibuddin Ahmed.
The Reserve Bank is likely to maintain status-quo on the key interest rates for the third time in a row in its upcoming bi-monthly policy review despite the US Federal Reserve and the European Central Bank hiking benchmark rates, as domestic inflation is within the RBI's comfort zone, say experts. The borrowing cost which started rising in May last year has stabilised with RBI keeping the repo rate unchanged at 6.5 per cent since February when it was raised from 6.25 per cent. In the previous two bi-monthly policy reviews in April and June the benchmark rate was retained.
Dinesh Karthik hit a quickfire half-century as Tamil Nadu overcame a jittery start to down Baroda by 38 runs.
The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world.
Wriddhiman Saha, who had a fallout with Cricket Association of Bengal, is in talks with Tripura for a potential player-cum-mentor role
"I've no rival in the CAB, everyone is my friend here. There are new and experienced people here to run the show. I'll also be around and they will get me at times," he added before leaving the Garden.
Saha is seeking an exit from Bengal domestic cricket after a CAB official questioned his commitment for state Ranji team.
Rahane scored a century in his previous Ranji Trophy match against Saurashtra but failed to deliver in the first innings against Goa.
Adding more mystery to the sensational death case, another video clip of a different person also went viral, claiming that the deceased police officer's vehicle was stationary and a speeding truck had hit it.
He is expected to play Ranji Trophy and Vijay Hazare Trophy matches for Tripura.
The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8.
The Reserve Bank's rate setting panel on Thursday met to finalise a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year, said sources. The report will be presented to the government as per the Reserve Bank of India Act, they added. The six-member Monetary Policy Committee (MPC) is headed by Governor Shaktikanta Das.
Taking over from Avishek Dalmiya as the CAB president, Snehasish said they still share a "cordial relationship" as he hoped the 38-year-old veteran returns to his homeland.
Reserve Bank will have to constantly re-assess the "dynamic and fast changing situation" and tailor its actions accordingly, Governor Shaktikanta Das said during the recent meeting of the Monetary Policy Committee (MPC) which decided to maintain status quo on key interest rate. According to the minutes of the six-member MPC meet released by Reserve Bank of India (RBI) on Friday, the five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict's impact on the global and domestic economies. MPC, which held its meeting from April 6-8, unanimously decided to keep the borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher in the aftermath of Russia-Ukraine conflict.
Ajmal in an interview to a media house on Friday had commented on women and Hindu men as well as Assam Chief Minister Himanta Biswa Sarma, purportedly as a rejoinder to his remarks on 'love jihad'.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
