Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation of capital. According to the Reserve Bank of India's data in the March 2024 bulletin, FDI in India was $25.53 billion and outflows were $10.11 billion in April 2023-January 2024. In the same period last year, FDI inflows stood at $36.75 billion and outflows at $11.75 billion.
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.
'Visualise those 15 to 18 seconds: Fully loaded aircraft, pilot manually controlling with both hands (no autopilot immediately after takeoff), looking forward while switches are behind.'
'Who tried engine relight?' 'If the first officer was the one flying at takeoff, the captain may have taken control immediately post-thrust loss.' 'But the AAIB report doesn't clarify any of this.'
The Indian economy could remain less affected by global trade wars than other countries because the two engines of domestic growth - consumption and investment - are likely to face a limited impact from such headwinds, according to an article on the 'State of the Economy' in the Reserve Bank of India's (RBI's) bulletin, released on Tuesday.
Outward remittances under the Reserve Bank of India's (RBI) liberalised remittance scheme (LRS) rose in May 2023 to $2.88 billion as compared to $2.33 billion in April, mainly due to an uptick in travel spend. People in India spent close to $1.5 billion on international travel in May, against $1.10 billion in April.
The sectors that received most of the investment during this period included manufacturing, financial services, business services, computer services, electricity, and other energy sectors.
A sudden surge in political attacks in Bihar has stunned leaders of both the ruling National Democratic Alliance and the Opposition Mahagathbandhan.
The island city, eastern suburbs and western suburbs recorded average 57.63 mm, 76.94 mm and 90.50 mm rainfall, respectively, between 8 am and 6 pm.
The share of Ahmedabad in the total value of trades on both the BSE and NSE is set to touch double digits for the third year in a row.
The NBFCs, which filed for ECB in January with the Reserve of India (RBI), include REC (over $500 million), Tata Motors Finance ($200 million), L&T Finance Holdings ($125 million), and Shriram Finance ($750 million), according to the RBI data. A senior executive with State Bank of India (SBI) said overseas borrowing by Indian companies, including highly rated NBFCs, was likely to grow because hedging costs were low and there was a softening bias in global interest rates.
The annual decline works out to be 16.3 per cent in 2022-23 compared to inflows in 2021-22. The gross FDI inflows in 2021-22 were $81.97 billion, up 10 per cent over fiscal 2019-20. The previous year-on-year contraction in FDI was in 2012-13 when the inflows declined by 26 per cent to $34.298 billion.
Former Indian Prime Minister Manmohan Singh passed away on Thursday night at the age of 92. He was brought to the emergency department of AIIMS Delhi in critical condition after "sudden loss of consciousness."
'Binary fission will happen -- startups will lead to more startups.'
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.
Faster account opening, which allows investors to start trading without ever leaving their homes or visiting a physical branch of their local brokerage has played a role in the surge.
Outward remittances in February under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) fell 23 per cent over January, latest data released by the central bank, in its monthly bulletin, revealed. In February, Indians remitted $2.1 billion under the RBI's liberalised scheme. On a year-on-year (YoY) basis - aided by international travel - LRS jumped 15.24 per cent. Further, in April 2022-February 2023, outward remittances under LRS stood at $24.18 billion, an all-time high.
Mumbai on Wednesday recorded 1,765 new Covid-19 cases, its highest single day count since January 26, but did not report any fatality linked to the infection during the day, the city civic body said.
More than 45 lakh people in 30 out of the total 38 districts of the state have been affected by the calamity in two phases since last month, according to the Disaster Management Department.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment. Besides, rising global crude prices impacted the domestic unit, forex traders said. However, a higher opening in the domestic equity market restricted the rupee's fall, they added.
New York amps up security after concerns reported
India's crude oil imports are coming in from a changing mix of countries, with the top three accounting for around 60 per cent of total imports. Russia emerged as the largest source of crude oil imports for India in June, as per the latest available data from the Organization of the Petroleum Exporting Countries (OPEC). The data which is released with a lag, showed that Russian imports accounted for 24 per cent of the total crude imports into the country.
Experts warn of over-interpreting the numbers and said their sustainability needed to be watched beyond November, says Indivjal Dhasmana.
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
With these additions, the financial capital's coronavirus tally rose to 9,81,306, while the death toll increased to 16,435, a BMC bulletin said.
However, in the first quarter when the country was under a lockdown, net financial savings rose to 21 per cent of gross domestic product (GDP), according to the data released in the RBI's monthly bulletin.
Pollution levels in the Seine have raised health concerns for athletes participating in swimming events
'The NEET-PG is the only exam for admission to MD, MS and PG Diploma courses.' 'Many doctors take time off from work to prepare for it, while others study during their long hospital shifts.'
Delhi sweltered under intense heat as the Safdarjung observatory, considered the official marker of the national capital, noted a high of 43.8 degrees Celsius, four notches above the normal average.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Net foreign direct investment (FDI) in India, inflows minus outflows, declined sharply in April-August this year to $2.99 billion from $18.03 billion in the same period last year on moderation in global activities and a rise in repatriation. The Reserve Bank of India's data (October 2023 bulletin) said FDI in India was $7.28 billion and FDI by India, that is money invested abroad from the country, was $4.28 billion in April-August 2023. As for 2022, FDI in India was $22.79 billion and FDI by India was $4.76 billion in April-August.
Tokyo SE Group topped the list followed by Hong Kong Exchanges, Shanghai SE and Australian SE in the top-four. The Indian bourses are fifth and sixth.
With the fight now having been taken to the seizure of nuclear plants, it is one more warning to Europe that this prolonged war could end up with disastrous consequences, observes Rashme Sehgal
Total payments in the economy grew 24.08 per cent to Rs117.43 trillion in value terms in June, compared to Rs94.64 trillion in May.
The remittances increased from $26.37 billion duringthe same period in the previous year, as India provided much better returns.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
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.
Banda chief judicial magistrate Bhagwan Das Gupta appointed Garima Singh, additional chief judicial magistrate (MP-MLA Court Banda) as the investigating officer in the case, the official said.
Showing the effect of the slowdown in global economic activity, the equity foreign direct investment (FDI) into India declined sharply to $13.9 billion in April-July 2023 from $22.04 billion a year ago. The net FDI, inflows minus outflows, declined from $17.28 billion in April-July 2022 to $5.70 billion in April-July 2023 on account of moderating gross FDI and a rise in repatriation. Gross FDI into India moderated to $22.0 billion during April-July 2023 from $29.6 billion a year ago, according to Reserve Bank of India data.
