Wholesale price-based inflation rate fell to a 3-year low of (-) 3.48 per cent in May on easing prices of food, fuel and manufactured items, strengthening the case for continuing with the pause in rate hike in the coming months of the current fiscal. This is the second straight month when WPI has been in the negative zone mainly on account of a higher base and falling prices of fuel and manufactured goods. Food prices also eased during May. In May, 2022 WPI inflation was at 16.63 per cent. Last month, it was (-) 0.92 per cent.
V T Rajan reveals how he cut expenses after his salary was cut by 50%.
Government sources said the GoM on coronavirus crisis also reviewed various measures being initiated by concerned ministries to allow partial economic activity in 'non-hotspot zones' from April 20.
In this exclusive interview with Rediff.com's Suman Guha Mozumder,Time International's new Editor Bobby Ghosh discusses Iraq, India and the New Journalism.
A fascinating conversation with one of the world's finest reporters.
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
The decisive election victory for the Narendra Modi-led National Democratic Alliance has created a conducive environment for policy actions and should help in economic recovery, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.
Any miscalculation and miscommunication are fraught with the risk of a major catastrophe, warns Rup Narayan Das.
CPI inflation could fall marginally but stay above RBI's comfort level.
Ahead of the Reserve Bank of India's Monetary Policy announcement, a leading economic thinktank said on Monday that lending rates might dip marginally in the coming months due to recent decline in inflation.
As per schedule, mid-quarter reviews will be in June, September, December and March, RBI added. It further said that the first mid-quarter review of the monetary policy will be announced on September 16, 2010, and the quarterly review on November 2, 2010.
In Kerala, the use of black ranges from such convenience to strictures by community and religion to fashion and personal choice. One would have to be really insecure or too fond of the well settled life to see black solely as a badge of protest, points out Shyam G Menon.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Prime Minister Narendra Modi on Friday met Israeli President Isaac Herzog and underscored India's support for an early and durable resolution of the Israel-Palestine issue through dialogue and diplomacy.
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.
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
'They will continue to keep pricking at places where both of us are sensitive and keep the LAC alive.'
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
In addition to concerns over monsoon shortfall and rising global commodity prices, RBI on Monday said that a hike in power tariffs could further push up inflation in the coming months.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence.
The Finance Ministry expects the economic growth in the current fiscal to improve to 5.5 per cent from 5 per cent last year on back of likely pick up in agricultural output on account of good monsoon rains.
Sluggish infrastructure sector growth would also have impact on IIP as these segments account for about 41 per cent of the total factory output.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
865 million Indian adults require vaccination.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
Microsoft will lay off 10,000 workers, about five per cent of its total workforce, its CEO Satya Nadella announced on Wednesday, terming it a hard choice that the tech giant had to make to remain a "consequential company" amid global economic uncertainties. Microsoft is the latest company after Facebook and Amazon to cut jobs as the bloodbath continues in the technology sector in 2023. Describing the current times as "significant change", Indian-origin Nadella said customers who accelerated their digital spend during the Covid-19 pandemic, are now optimising their digital spend to do more with less.
Consumer food price inflation eased to 6.14%.
Both the government and RBI have to complement each other if the economy has to revive quickly.
The survey noted that advertising campaigns supported the increase in new work growth in the sector amid competitive pressures.
Food prices rose 8.64 per cent year-on-year last month, slower than an annual rise of 9.90 per cent in March.
Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute.
India's services sector activities improved further and expanded at strongest rate in over 11 years in May, supported by a substantial pick-up in new business growth, even as input cost inflation climbed to a record high, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index jumped to 58.9 in May, up from 57.9 in April, amid better underlying demand and strong inflows of new work. For the tenth straight month, the services sector witnessed an expansion in output.
'I want us not to underestimate Indian voters. They can tell good work from bad.'
A reading above 50 denotes expansion while one below means contraction.
'These new laws give complete (impunity) to the police.' 'Whatever little accountability the police had, all that is gone now.' 'There is no accountability mechanism against the police for abusing or misusing in the new laws.'
