The Reserve Bank of India on Friday decided to keep the policy rate unchanged for the 11th time in a row but sharply lowered the GDP growth forecast to 6.6 per cent for the current fiscal, as against earlier projection of 7.2 per cent. The Reserve Bank of India (RBI) maintained the status quo on interest rate despite July-September quarter GDP growth falling to 7-quarter low of 5.4 per cent, as against its own projection of 7 per cent.
'Rate cut looks unlikely and there is reason to believe that the cycle is over.'
"The policy of Macaulay, which sowed the seeds of mental slavery in India, will complete 200 years in 2035. This means there are 10 years left. Therefore, in these very 10 years, we all must come together to free our country from the slave mentality," he said.
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Reserve Bank of India (RBI)Governor Sanjay Malhotra on Friday said it was not the regulator's job to take decisions for bank boards, speaking in the context of the wide range of enabling reforms announced for lenders during the October monetary policy review, and emphasised that financial stability remained the regulator's focus.
'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'
The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
From the Sensex pack, Asian Paints, Tech Mahindra, Tata Consultancy Services, Bajaj Finserv, Adani Ports, HCL Technologies, Bharti Airtel, Infosys, Trent, Reliance Industries, UltraTech Cement, Sun Pharmaceuticals, Eternal, Titan and Bajaj Finance were the gainers. On the other hand, Tata Steel, Tata Motors Passenger Vehicles, Tata Motors Commercial Vehicles, Bharat Electronics, Kotak Mahindra Bank and PowerGrid were the laggards.
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
Defence Minister Rajnath Singh lauds the armed forces' restrained response during Operation Sindoor after the Pahalgam terror attack, highlighting coordination and improved connectivity in border areas.
'The central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
Financial services giant HDFC Bank, carrying a brand value of $44.9 billion, has surged past IT consulting behemoth Tata Consultancy Services (TCS) to reclaim its crown as the country's most valued brand, according to the 2025 Kantar BrandZ Most Valuable Indian Brands report.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
After a record-breaking year, India's automobile industry is entering 2026 on a relatively strong footing, with sales growth expected in the 6-8 per cent range. The outlook is underpinned by policy support, including GST rationalisation, easing monetary conditions, and income tax relief, which together are likely to improve affordability and sustain consumer demand across vehicle segments.
India's services sector growth witnessed the slowest pace of expansion in five months in October, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey released on Thursday.
UPI crossed 20 billion monthly transactions for the first time in August 2025, with a transaction value of Rs 24.85 trillion.
In a bid to promote the use of domestic currency for cross-border settlements, the Reserve Bank on Wednesday announced a slew of measures, including allowing banks to lend in Indian Rupees to non-residents from Bhutan, Nepal and Sri Lanka for bilateral trade.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
India's economy could reach $20.7 trillion in terms of purchasing power parity (PPP) by 2030 and may emerge as the second-largest economy by 2038 with $34.2 trillion GDP, an EY report said on Wednesday. The report also said that with appropriate countermeasures, India can limit the adverse impact of higher US tariffs on selected Indian imports to about 10 basis points of real GDP growth.
India's new climate pledge to the UN could be weakened by its growing use of coal, even as the country plans a 2035 roadmap to cut emissions and boost clean energy.
In an event-heavy week, stock investors will track ongoing quarterly earnings, the US Federal Reserve's interest rate decision, and macroeconomic data for market direction, analysts said. Moreover, progress in India-US trade negotiations will remain a key focus for investors, an expert said.
Fitch Ratings on Monday affirmed India's sovereign rating at 'BBB-', with a stable outlook, saying a strong record of delivering growth and improving fiscal credibility will drive improvements in structural metrics. "India's ratings are supported by its robust growth and solid external finances," Fitch said, as it forecast GDP growth of 6.5 per cent in the fiscal year ending March 2026 (FY26), unchanged from FY25, and well above the 'BBB' median of 2.5 per cent.
This period of strong growth not only offers opportunities but also calls for strategic considerations to ensure sustainable development and equitable prosperity in the years to come, suggests Sujan Hajra.
Stock market sentiment is likely to remain optimistic going ahead, though some consolidation cannot be ruled out after the recent sharp rally in the benchmarks, analysts said. According to experts, the Nifty and Sensex could indeed move towards new record highs before the end of the year, if global cues stay supportive, crude oil prices remain benign and there is continued domestic earnings momentum.
Mukesh Ambani has reclaimed his position as the richest Indian, overtaking Gautam Adani, according to the M3M Hurun India Rich List 2025 released on Wednesday. With a wealth of Rs. 9.55 lakh crore ($105 billion), the 68-year-old Reliance chairman returned to the top spot, while Adani, 63, and his family followed closely with Rs. 8.15 lakh crore.
'What the government is doing would be a drop in the ocean. It has to be matched by investments by industry.'
Global rating Moody's on Monday affirmed India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating at 'Baa3' with a 'stable' outlook on the back of robust economic growth and sound external position. The rating agency also affirmed India's other short-term local-currency rating at P-3.
Prime Minister Narendra Modi on Saturday proposed a G20 initiative aimed at enhancing clean energy transitions by boosting recycling, easing supply chain pressures and advancing joint research on critical minerals, and suggested forging a partnership to make satellite data more accessible and interoperable.
To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
The ministries of Road Transport & Highways and Railways have exceeded the national average capital expenditure (capex) by spending 63 per cent and 57 per cent of Budget estimates (BE), respectively, in the first half of 2025-26 (FY26). The total capital expenditure for April-September of FY26 stood at 52 per cent of the BE, according to the latest data by the Controller General of Accounts (CGA).
India's merchandise trade deficit widened to a record $41.68 billion in October, as gold imports trebled and outbound shipments registered their sharpest contraction in 14 months, according to data released by the commerce department.
Moody's Ratings on Tuesday projected general government debt to stabilise above 80 per cent of GDP over the next three years, down from 89.3 per cent in 2020-21. "General government interest payments to fall to around 24 per cent of general government revenue over the next two years from over 28 per cent in fiscal 2020-21, although this remains much higher than the median 8.7 per cent recorded by Baa-rated peers," Moody's Ratings associate managing director Gene Fang said in a post-Budget reaction.
The government is planning to set up an integrated transport planning authority for faster and comprehensive planning among multiple transport ministries such as highways, railways, and shipping & ports.
The fiscal deficit for FY25 has been pegged at 4.8 per cent of GDP and at 4.4 per cent for FY26, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget 2025-26, she said net market borrowings are estimated at Rs 11.54 lakh crore for next fiscal year.
The World Bank on Tuesday raised India's growth forecast for the current fiscal to 6.5 per cent from 6.3 per cent estimated earlier, and said the country is expected to remain fastest-growing major economy, underpinned by continued strength in consumption growth.
Prime Minister Narendra Modi on Thursday invited global businesses to participate in the growth story of India, which is the fastest growing large economy of the world.
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
'...not merely in managing fiscal mathematics, but in demonstrating conservatism and prudence within that framework.' 'Looking forward, we believe sufficient growth drivers exist -- ranging from government reforms to revival in consumption to favourable monsoons. Numerous factors support the Indian economy.'
'Things may get much worse before they get better,' predicts Ajay Chhibber.
