Inflation has remained stubbornly close to double-digit levels during the first quarter of the current fiscal.
In its policy review meeting on Tuesday, the Reserve Bank of India hiked interest rates by 25 basis points.
With another quarter of steady growth in demand, cement companies are expected to report strong year-on-year (Y-o-Y) growth in earnings, according to analysts. The September quarter (Q2FY24) also witnessed a resumption of price hikes in certain markets. UltraTech Cement, India's largest cement producer, reported a 15 per cent Y-o-Y increase in cement sales in the country for the quarter under review.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
Moderating inflation and a likely reversal of tight monetary policy will boost the economic prospects during 2012, said Finance Minister Pranab Mukherjee.
Finance Minister Pranab Mukherjee on Wednesday asked banks to cut interest rates and provide cheap credit to industry in order to spur economic activity.
The last few years have been uncharacteristically good for the Indian sugar sector for a variety of reasons. While on the one hand, the weather supported good crop production; on the other hand, the programme to blend ethanol with petrol took off in a big way. The long-pending problem of burgeoning sugarcane arrears almost came down to nil and exports boomed to record highs.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
After making a larger-than-expected cut of 50 basis points on September 29, Rajan urged the federal government to do its bit to accelerate growth through structural reforms.
'One is happy. The moment one starts criticising the BJP, ED, IT and CBI comes to one's house.'
The number of active cases in the country has increased to 4,08,977, accounting for 1.34 per cent of the total caseload while the national COVID-19 recovery rate stood at 97.35 per cent, the data updated at 8 am showed.
Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a 'buy on dips' strategy to equity investors. As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.
Does Pranab Mukherjee want to be 'PM' by office, not just by initials? The very prospect, with memories of the Narasimha Rao years scarred into their memories, scares the Nehru-Gandhis, says T V R Shenoy.
Meanwhile, Minister of State for Finance Namo Narain Meena, in a written reply to the Lok Sabha, said, "In the forward guidance of the second quarter review of the Monetary
However, RBI would continue to nudge banks to cut lending rates
Union Finance minister Pranab Mukherjee said banks have positively responded to his suggestion to reduce credit interest\nrates.
The correction seen in the stock markets thus far is insufficient and there are significant downside risks, given the way macroeconomic data is shaping up, a Nomura equity strategist said on Thursday. "The markets are trying to look through the current stress we see in the macros. There are potential risks to the market. "Our estimates assume no major impact on growth and earnings. "The market should have been at least 5 per cent lower than it is now.
Even as India's annual inflation rate touched 10.16 per cent in May, Finance Minister Pranab Mukherjee on Monday ruled out the possibility of interest rates rising in the short term. He said he expected inflation to be on the higher side till the middle of July.
The overall inflation increased marginally in February to 8.31 per cent from 8.23 per cent a month ago.
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
The crowd at the Confederation of Indian Industry's annual general meeting and national conference 2012 merely issued a round of half-hearted applause, though finance minister Pranab Mukherjee had earlier hinted a rate cut was in the offing in the next 'half an hour'.
There is not much that the RBI can do to address India's inflation. Solutions to the problem lie with Pranab Mukherjee and Sharad Pawar, who run the ministries of finance and agriculture, respectively.
The COVID-19 case fatality rate stood at 1.43 per cent.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
The total tally of COVID-19 cases mounted to 1,50,61,919 and the death toll increased to 1,78,769 with a record 1,619 daily new fatalities, the data updated at 8 am showed.
Killer Soup's plots grow too convoluted and the strain of keeping the momentum going shows when its shrewd and surreal visuals lose steam, observes Sukanya Verma.
Public sector lenders led by State Bank of India said on Monday that they will look at further interest rate cuts.SBI chairman O P Bhatt told reporters after a meeting with Finance Minister Pranab Mukherjee that the bank is considering cutting its prime lending rate for the second time in as many months.
Concerned over high service tax substantially raising air ticket prices, Civil Aviation Minister Ajit Singh has urged Finance Minister Pranab Mukherjee to revert to the earlier rates which were capped at Rs 100 and Rs 500 per domestic and international ticket.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
The GST will be a national sales tax that will be levied on consumption of goods or use of services
Epidemiologists point out that if there is no second wave, it means that the number of infected has surpassed the uninfected, reports Ruchika Chitravanshi.
Recalibrating data of past years using 2011-12 as the base year instead of 2004-05, the Central Statistics Office estimated that India's GDP grew by 8.5% in the financial year 2010-11 and not at 10.3% as previously estimated.
The number of people who have recuperated from the disease surged to 1,45,56,209 while the case fatality rate has further dropped to 1.12 per cent, the data stated.
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
However, if the rupee depreciates much, the economy in dollar terms would be that much smaller.
Crisis of growth is worsened by the challenging global environment and policy missteps. Returning to 9 per cent growth trajectory will be a tall order.
India's gross domestic savings rate increased from 29.8 per cent in 2003-04 to 30.7 per cent in 2007-08, said union Foreign Minister Pranab Mukherjee, who is holding additional charge of the finance portfolio while presenting the Interim Budget for 2009-10 on Monday in parliament.
President Pranab Mukherjee on Thursday addressed the nation on the eve of the 68th Independence Day.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
Global disinflation has finally caught up with India's high-cost economy.
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