"This has been powered by a rebound in the agricultural sector following the drought in 2009-10, and a sharp pick-up in private consumption and gross fixed capital formation," CMIE said.
Bank of America Merrill Lynch on Monday trimmed India's economic growth estimates by 30 basis points to 7.1 per cent for the current fiscal, while global financial services giant Morgan Stanley downgraded its GDP growth forecast for the current fiscal to 7.3 per cent from the earlier 7.7 per cent.
The central government on Wednesday expressed concern over high food inflation, which is nearing 20 per cent, and asked states to lift more wheat and rice stocks from its pool -- a move that will help increase foodgrain availability and eventually ease prices.
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The rupee has avoided the heavy losses suffered by some emerging Asian currencies such as the Philippine peso this year because of its efforts to narrow the current account deficit, and strong foreign investor inflows.
The decision, that would be reviewed on a month-by-month basis, came a day after England registered its biggest jump in death toll of 39 to hit 177.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
Aditya Bafna, second-generation entrepreneur, tells you how to make yourself eligible for your dream role.
The RBI said there is an upward bias on inflation projection.
On September 7, 2009, the government had instructed all its departments not to travel first class within or outside the country on government account.
This time the all-powerful interest-rate setting panel, whose constitution was notified by the government on Thursday, will take call on interest rate. But that's not the only change. The Reserve Bank of India has also decided to change the timing of announcement of its policy review, due next Tuesday, to mid-afternoon.
The headline HSBC India Purchasing Managers' Index -- a composite gauge designed to give a single-figure snapshot of manufacturing business conditions -- stood at 53.3 in November significantly higher from 51.6 in October.
The Congress and various opposition parties have demanded that NEET and JEE examinations be deferred due to the COVID-19 pandemic and floods in parts of the country, even as the Union government has made it clear that they will be held as per schedule with due precautions.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
RBI's intention to keep its target inflation rate at 5% was the main reason behind keeping rates unchanged, says Adhil Shetty, CEO of BankBazaar.com.
The interim dividend will help Narendra Modi-led government partly bridge the deficit its budget had developed after the announcement of a Rs 75,000 crore a year cash dole scheme for small farmers.
India's Internet economy has two choices: An immediate $30 billion Sale-and-Leaseback or a $3 trillion value harvesting over decades, observes Vibhu Arya.
India's GDP is expected to grow at 9.2 per cent in FY11 on the back of spurt in economic activities, Centre of Monitoring Indian Economy (CMIE) said in its monthly review.
The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav.
Finance Minister expects rate cut by RBI.
Will consider extending full support after reviewing the situation, says Sharma.
The price of vegetables in general rose by 77.81 per cent making life difficult for the common man.
Professional forecasters have added to Reserve Bank of India Governor Duvvurri Subbarao's dilemma on timing the exit from an accommodative monetary policy stance.
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan may have found the Reserve Bank of India (RBI)'s inflation projections on the higher side, but independent experts agree with the central bank and expect both wholesale and retail prices to remain high.
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
The Pakistani PM is now scheduled to travel to Malaysia next week and to China on November 3 to seek financial assistance from the two friendly countries.
According to latest figures, food inflation stood at 19.83 per cent during the third week of December.
The index monitoring new business fell to a six-month low of 51.6 from March's 53.5, prompting some firms to cut jobs.
The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 47.9 in July, down from 50.9 in June, its lowest mark since February 2009, and highlighted the first deterioration in business conditions in 2017 so far.
The fifth meeting of Monetary Policy Committee maintained the repo rate, at which it lends to the banks, at 6.25 per cent and the reverse repo, at which it borrows, will be 6 per cent.
Our industrial-era mindset prevents many business leaders from throwing away the fancy access cards that dock an employee's pay if they haven't put in nine hours at work.
Addressing his council of ministers in a video conference, Modi asked them to prepare business continuity plans to fight the economic impact of COVID-19 on a war footing, but also asserted that this crisis is an opportunity to boost the 'Make-in-India' initiative and reduce dependence on other countries.
India's manufacturing sector witnessed a modest growth in May, but going ahead "weak demand conditions" may persist.
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Raghuram Rajan, who took over as RBI Governor on September 4, is scheduled to unveil on Friday mid-quarter monetary policy review, an event keenly awaited by industry and banks.
The state visit of Brazilian President Dilma Rousseff to the US next month has been postponed following the concerns being raised by Brazil with regard to the secretive surveillance programme of NSA as revealed by classified documents leaked by Edward Snowden.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
The Congress on Tuesday termed as rhetoric and hollow on specifics the prime minister's address to the nation, saying there was no mention of a financial package or concrete steps to revive the economy.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
The Nikkei India Services Purchasing Managers' Index, which tracks the services sector firms on a monthly basis, stood at 50.3 in February, up from 48.7 registered in January.
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
