For 2014-15, the bill on this account is likely to be 12.8% more than in 2013-14.
Rupee is seen to remain in the range of 67.50-68.80 in the short-term
As you swipe your credit/debit card with carefree abandon at merchant outlets, banks are losing money to the tune of Rs 3,800 crore annaully, says Soumya Kanti Ghosh
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
'A broad-based revival of private sector investment was likely in 2018-19 after businesses had successfully made the switch to the GST.'
'Once the lockdown is lifted, we will see some pickup in demand.' 'And my sense is that it will be a long walk this time given that we have lost three months of economic activity.'
The central bank is the money manager of the government, and not a guarantor of any debt.
'This year's Budget didn't give into populist measures everyone was expecting after demonetisation, so I think that was a positive step.' 'Hopefully the Budget will continue in the way it has been.'
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
Many economists say only a substantial rise from October would point to a real recovery.
SBI data shows the per-capita payouts for scheme have shot up this year.
They believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period.
The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to close at 6.202 per cent from its previous close of 6.135 per cent. The yield was at 6 per cent a week ago. The RBI wants the yields to remain at 6 per cent, but bond dealers say the central bank will have to step up its bond-buying programme.
The WTO has fixed an external reference price (ERP) for rice at Rs 3.52 per kg
Union Budget had projected the fiscal deficit at Rs 5.56 lakh crore.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
The best possible move would be for the government to spend the funds on activities like infrastructure development or as it deems fit, says Soumya Kanti Ghosh.
The IMD attributed the projection to a weakening of El Nio and the Indian Ocean Dipole turning positive.
Fiscal discipline has been maintained but toxic assets worth Rs 7 crore are a massive headache
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
It is pegged at 6.8-8% by various economists, as compared to 6.7%.
'Obviously, there is always an argument that a weaker rupee could push up, to some, extent exports.' 'The fact that the rupee has appreciated against the Chinese currency is pushing a lot of Chinese imports into the Indian market.'
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
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