'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
'In macroeconomic policy, timing is all, and by leaving things too late, Mr Modi may have made around 50 seats in the Lok Sabha highly vulnerable,' says T C A Srinivasa Raghavan.
The rupee had eased by five paise to close at 60.50 against the dollar in the previous session on Thursday.
'No Cold War should be reignited and no Ukraine-style crisis should be repeated in Asia'
Worries over Greece sparked a sell-off in emerging markets on Monday
During the virtual meet, Biden and Modi will discuss cooperation on a range of issues, including ending the COVID-19 pandemic, countering the climate crisis, strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific, White House Press Secretary Jen Psaki said.
As Prime Minister Narendra Modi embarks on a tour of three European nations, India on Sunday once again called for the cessation of hostilities in Ukraine and resolution of the conflict through dialogue and diplomacy, noting that was an appreciation of its position on the crisis by its partner countries.
Prime Minister Khan, who had effectively lost his majority in the 342-member National Assembly, made a brief address to the nation after a stormy parliament session was adjourned by Deputy Speaker Qasim Suri.
Since October, FPIs have sold over $26 billion worth of stocks, which is the largest selling ever seen in India, observes Akash Prakash.
The Finance Ministry on Monday sought to assure the investors that the country's fundamentals are "very strong" even as the rupee slipped to below 63 to a US dollar and the BSE Sensex plunged by over 426 points on global cues, following currency crisis in Argentina.
Manmohan Singh said Narasimha Rao can truly be called father of economic reforms in India.
The need for an inclusive government in Kabul and a zero-tolerance stance on the use of Afghan territory by terrorist groups are among four aspects that Prime Minister Narendra Modi listed on Wednesday for countries in the region to focus on in the backdrop of the developments in the war-torn nation.
On October 18, the tax department had said searches had led to detection of undisclosed income of more than Rs 500 crore in addition to Rs 93 crore worth seizures, including gold jewellery and diamonds. A revised appraisal of such seizures now pegs its value at Rs 106 crore which includes cash (Rs 45 crore), gold jewellery and diamonds (Rs 41 crore) and foreign currency Rs 20 crore.
Among major Sensex movers, Reliance Industries soared by 3.29 per cent as energy prices rose due to the war in Ukraine. Tata Steel emerged as the lead gainer among Sensex scrips, jumping by 6.61 per cent. Power Grid, Titan, NTPC, ICICI Bank, L&T, Infosys and Sun Pharma were among the gainers.
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In the global market, the US dollar rose against the basket currencies in early trade as US President Barack Obama called for diplomacy in dealing with alleged chemical weapons attack in Syria but kept open the possibility of military action against the Assad regime.
Prime Minister Modi is attending the G7 summit, to be held on June 26 and 27, following an invitation by German Chancellor Olaf Scholz.
'What gives hope is that Modi's own leadership is vitally linked to his capacity to deliver on the economic front. Indeed, if he succeeds, India's foreign policies will have changed beyond recognition,' feels Ambassador M K Bhadrakumar.
A day after suffering their worst session in about two years, benchmark indices Sensex and Nifty rebounded up to 2.5 per cent on Friday, in line with higher global markets as the US and allies put up a united front to punish Russia with harsher sanctions over the Ukraine conflict. Snapping their seven-day losing streak, the BSE Sensex climbed 1,328.61 points or 2.44 per cent to settle at 55,858.52, while the NSE Nifty went soared 410.45 points or 2.53 per cent to 16,658.40. Barring HUL and Nestle, all Sensex shares closed with gains -- with Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra surging as much as 6.54 per cent.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
Monthly systematic investment plan (SIP) flows into India have held steady above Rs 13,000 crore in 2022-23 (FY23) in the face of markets delivering muted returns in 18 months. However, it is not a rose-tinted view when it comes to viewing new SIP registrations and the cessation of existing ones. The ratio of SIPs stopped as a percentage of fresh SIPs registered (called SIP stoppage or closure ratio in industry parlance) stood at 56 per cent in the first 11 months of FY23, compared with 41 per cent during the same period of 2021-22 (FY22).
Increased demand for the dollar weighed on the local currency.
'At the heart of the strategic relationship between our countries are economic ties.'
Market gauges Sensex and Nifty extended their losing streak to the sixth session on Wednesday as lingering Ukraine crisis continued to dent investor sentiment. The Sensex closed 68.62 points or 0.12 per cent lower at 57,232.06 and the Nifty ended 28.95 points or 0.12 per cent down at 17,063.25. For better part of session, both indices traded in the positive territory tracking mostly higher Asian peers as investors hoped that Western sanctions on Russia after Moscow's troop movements near Ukraine border might soften Vladimir Putin defiant tone and leave some room to avoid war. The Sensex breadth was equally divided between gains and losses.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
The Reserve Bank of India (RBI) has increased its gold purchases, as part of its foreign exchange (forex) reserves. In the first half (H1) of calendar year 2021 (CY21), the addition of gold to India's forex reserves has been the highest - on a half-yearly basis -at 29 tonnes. Now, the RBI's gold holding - as a proportion of its forex reserves - has for the first time crossed 700 tonnes.
Two to five volunteers, with the support of bank employees, could offer guidance and help to customers.
India and France expressed "serious concern" at the ongoing conflict and humanitarian crisis in Ukraine.
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
The domestic currency had gained seven paise on Friday.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
At least one person was killed and 12 others injured on Tuesday when the police opened fire to disperse angry anti-government protestors in Sri Lanka's southwestern region of Rambukkana, officials said.
In a fresh development in NSEL's Rs 5,600 crore scam, the Enforcement Directorate (ED) on Monday registered a preliminary inquiry into the payment crisis, suspecting large-scale money laundering in the beleaguered spot exchange, a senior official said.
Rupee logs longest winning streak since 2012; up 19 paise.
Can we find fault with RBI for not intervening enough in the market? Actually no, say some experts. A correction in rupee was long overdue.
Emission norms for automobile industry should be tightened.
Rupee is under pressure against the dollar on weak cues.
'Earning expectations remain strong.'
India and Japan on Friday decided to more than treble their currency swap arrangement from $15 billion to 50 billion in a move seen as sending an important signal for the rupee.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
"We share important interests with India. We share important values with India. And we know India has a relationship with Russia that is distinct from the relationship that we have with Russia. Of course, that is okay," Price told reporters at his daily news conference on Friday.
