Farm loan waiver has been presumed to be inflationary. But the short-term consequences are likely to be quite deflationary.
'England will be a challenging side for us. I am sure these (boys) who have been here for a while, played a handful of games against Ireland and a few practice games as well, will be looking forward to this T20 series.'
Who do you think should be part of India's playing XI for the final ODI against South Africa?
Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.
For someone like me who studied Sam so intently, if a lump could form in the throat during the emotive scenes, I think the cast did a superb job, notes Lieutenant General Syed Ata Hasnain (retd).
If oil prices rise, the government would face an uncomfortable political decision.
In another setback to Big Pharma, US drug major Eli Lilly's blockbuster erectile dysfunction drug Cialis (generic name:Tadalafil) has failed to qualify for a product patent in India after the basic constituent of the medicine was found to be a known substance, developed and patented by Indian scientists 32 years ago.
Retail inflation declined to an 18-month low of 4.7 per cent in April mainly due to falling prices of vegetables, oils and fats, and came closer to Reserve Bank's target of 4 per cent, showed government data released Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The government has tasked the central bank to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
An Air India spokesperson said the plane landed at an "uncommissioned runway" and that all passengers are safe.
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
Joe Root and Jonny Bairstow slammed majestic centuries as England pulled off their highest-ever successful run chase in the longest format for a convincing seven-wicket win over India in the rescheduled fifth Test in Birmingham on Tuesday.
A likely turnaround in profitability margins in the March quarter (Q4FY23) will not be enough to lift the outlook for paint stocks due to volatile crude oil prices and rising competition in the sector, analysts say. Hence, they advise investors to avoid the sector over the short-to-medium term despite the heavy correction in the stocks since last year. Shares of Asian Paints, Berger Paints, Indigo Paints, Nerolac and Pidilite have shed 6-32 per cent over the last 6 months versus a 3 per cent rise in the benchmark Sensex.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
This may come as a surprise to many. Retail price inflation in petrol was the lowest at 10.21 per cent in March since November 2020. In diesel, it scraped the bottom of the barrel at 5.19 per cent in the last month of 2021-22 since February 2020. Even liquefied petroleum gas (LPG) was at a nine-month low of 9.97 per cent in the month.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
The Indian tried to fight fire with fire but the intensity shown by Berankis blew him away and he found himself serving to stay in the set.
India endured a second successive disappointing result at the Australian Open with Rohan Bopanna and Ben McLachlan bowing out after a first-round defeat to Ji Sung Nam and Min-Kyu Song in the men's doubles event, in Melbourne.
While Kuldeep has played more white-ball cricket in past 8-10 months, switching the format has never been a problem for him as wrist spin doesn't depend on the surface a lot.
KL Rahul will have to show drastically improved leadership acumen when he leads India against a buoyant South African side in the second ODI on Thursday.
Images from the third One-Day International between South Africa and India, in Cape Town, on Sunday.
But lower growth numbers in the quarters to come may not mean renewed weakness in the economy at the ground level, says Pranjul Bhandari.
The early results from corporate India for the first quarter of 2015-16 are in, and these strongly suggest that a cyclical recovery is underway.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
The IHS Markit India Services Business Activity Index stood at 5.4 in April, an extreme decline from 49.3 in March, and indicative of the most severe contraction in services output since records began in December 2005. As per the IHS Markit India Services Purchasing Managers' Index (PMI), a print above 50 means expansion, while a score below that denotes contraction.
Global investors are fast losing appetite for equities, as deflation seems more of a reality. With commodity prices collapsing, few safe havens are left for investors, with many of the BRICS(Brazil, Russia, India, China and South Africa) losing their charm.
It has mostly been a one-way street for markets that have moved up sharply since July. The front-line indices - the S&P BSE Sensex and the Nifty50 - have gained 6.7 per cent and 7.3 per cent, respectively, in the past three months. The rally in mid- and small-caps has been sharper, with both indices surging 14 per cent and 9 per cent, respectively, during this period. This sharp run has made analysts at Jefferies cautious.
India's exports grew marginally by 0.88 per cent.
Retail inflation softened to 6.71 per cent in July due to moderation in food prices but remained above the Reserve Bank's comfort level of 6 per cent for the seventh consecutive month. With retail inflation continuing to remain high despite a fall in prices of vegetables and edible oils, among other commodities in July, the Reserve Bank of India (RBI) might go for another rate hike in September. The Consumer Price Index (CPI) based retail inflation was at 7.01 per cent in June and 5.59 per cent in July 2021. It was above 7 per cent from April to June this fiscal.
Australia were 133 for six at stumps on Day 3 of the second Test against India in their second innings, a lead of two runs, at the Melbourne Cricket Ground.
Having already won the series, Rohit and Dravid will now like to maintain a fine balance between winning and also trying out all their available resources to see how each and every individual is placed.
The rapid deceleration in prices has ignited a debate in New Delhi whether Asia's third-largest economy is heading towards deflation.
India's unpredictable middle-order has repeatedly squandered good starts at the women's T20 World cup. In all the three matches, the bowling unit bailed the side out.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
RBI governor Das flags growth slowdown, deputy raises alarm on inflation
It is also likely to assume a deflator of around 4 per cent. That could take the nominal GDP outlook for FY21 to around 10 per cent. It is this nominal GDP forecast on the basis of which the finance ministry is calculating key Budget targets like the fiscal deficit as a percentage of GDP and tax revenue growth for the coming year.
Unheralded left-arm spinner Steve O'Keefe grabbed a sensational match-haul of 12 wickets as a sloppy India slumped to a humiliating 333-run defeat inside three days in the first Test against Australia in Pune.
The untimely Mumbai monsoon threatens to play spoilsport as there is a fair chance of first day's play being affected by rain during the second Test between India and New Zealand, starting on Friday.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
This is a terrible situation for a growing economy to be in, and the central bank would be expected to act to correct the situation.
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