The IMF on Tuesday projected a growth rate of 6.1 per cent for India in 2023, which is a 0.2 percentage point upward revision compared with the April projection. This is reflective of the "momentum" from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, the International Monetary Fund (IMF) said. "Growth in India is projected at 6.1 per cent in 2023, a 0.2 percentage point upward revision compared with the April projection," it said in its latest update of the World Economic Outlook.
IMF managing director Dominique Strauss-Kahn said that many Asian economies are already unwinding stimulus measures.
Fitch Ratings on Monday said the shock to economic activity from the latest wave of COVID-19 pandemic will be less severe than the one in 2020, but recovery is likely to be delayed as economic activity dropped in April-May. The global rating agency said there are growing indications that the latest wave of COVID-19 infections will add to risks among financial institutions (FIs) and anticipates that the Reserve Bank of India (RBI) may introduce additional measures to support the financial sector if indications of economic stress mount.
'We're not looking at the importance of men standing up for women. And that, to me, is the power of the film.'
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
'Be aware of your surroundings. Stay alert, stay vigilant.'
'Indian single malts have a very specific character.' 'They are sweet when you take a frontal palette approach and change significantly with the addition of water.'
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," it said in a statement, adding strong growth potential is a key supporting factor for the sovereign rating.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
The RBI on Thursday said banks' gross NPA ratio has fallen to a sever-year low of 5 per cent and the banking system remains sound and well-capitalised. In the 26th issue of the Financial Stability Report (FSR), the RBI also said the global economy is facing formidable headwinds with recessionary risks looming large. The interplay of multiple shocks has resulted in tightened financial conditions and heightened volatility in financial markets, it pointed out.
Moody's has a 'Baa3' rating for India, with a positive outlook.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
China, a veto-wielding member of the United Nations Security Council and a close ally of Pakistan, has repeatedly foiled India's bid to list Azhar as a global terrorist, saying there is no consensus in the top organ of the world body on this issue.
Global rating agency Moody's Investor Services in its latest report said the strong fundamentals, combined with upturn in savings and investment as well as rising rate of potential growth, supports the Indian government's foreign currency sovereign medium investment grade (Baa3) bond rating and local currency speculative grade (Ba2) bond rating.
A Qatari court has accepted the appeal document on the sentencing of eight former Indian naval personnel to death, sources familiar with the matter said.
Over 160 people, including a number of Israeli nationals were killed in the terror attack on November 26, 2008
The Reserve Bank of India on Friday slashed the growth projection to 7 per cent for the current fiscal from the earlier forecast of 7.2 per cent, citing aggressive tightening of monetary policies globally and moderation in demand. Unveiling the fifth monetary policy for this fiscal, RBI Governor Shaktikanta Das said the central bank remains committed to price stability to put the country on the sustained path of growth.
Any downward revision from the current 'Baa3' rating means junk status for the country.
Capital flows have become much more skittish and volatile during this period, with short-term horizons dominating allocations.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
The All India Tennis Association (AITA) on Tuesday terminated the contract of Vijay Amritraj's Champions Tennis League due to breach of contract, much to the shock of the former star, who says the move has come at a time when they were striving to revive the League.
'We are in very tough times, but we are all absolutely committed to seeing the destruction of Hamas'
The transmission of dengue is closely associated with three key factors -- rainfall, humidity and temperature -- that dictate the geographies in which it spreads and the transmission rate of the viral infection caused by the dengue virus (DENV), and transmitted to humans through the bite of infected mosquitoes.
'Now the political boss decides, and the ED acts.'
'The message that India has conveyed since the start of this conflict is clear and consistent. It is important to prevent escalation to ensure continued delivery of humanitarian aid and to work towards an early restoration of peace and stability. A peaceful resolution of the conflict through dialogue and diplomacy is the only way forward'
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Cristiano Ronaldo has yet again left the competition behind as the five-time Ballon D'Or winner was named Instagram's top earner for the third year in a row.
The Congress on Saturday accused the government of covering up or demolishing slums and rounding up stray animals in view of the G20 Summit, with its leader Rahul Gandhi saying 'there is no need to hide India's reality from our guests'.
Finance Minister Nirmala Sitharaman on Saturday reviewed the performance of public sector banks (PSBs) on various financial health parameters and their resilience in the wake of the current global financial scenario emanating from the failure of some international banks in the US and Europe.
'Kapil had faith in his team and the team had faith in its captain.'
The National Stock Exchange benchmark index Nifty is likely to remain between 5,050 and 6,100 in the next 12 months, because of lack of triggers in the domestic macro-economic environment and uncertainty in the global markets, a report says.
'US officials must grapple with the possibility that one of its closest partners attempted an extrajudicial killing on its soil.' 'This is not something that friends typically do to friends.'
The value of oil imports decreased by 37.5%.
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
Reserve Bank of India Governor Y V Reddy on Tuesday said the Indian economy is largely insulated from episodes of global financial instability and the country has built resilience to shocks and is less vulnerable to output volatility.\n\n
This is causing a shortfall of critical ammunition within the army at a time when the MoD is making emergency purchases from the global arms market to cater for a possible clash with China.
'Life will test you but if you have resilience and fortitude, the crown will be yours forever,' says Miss World Yukta Mookhey.
