Lord Meghnad Desai, renowned British Indian economist and House of Lords peer, has died at the age of 85. Tributes pour in from political figures and colleagues.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
The University of Chicago has conferred its Alumni Award for Professional Achievement to India's former chief economic adviser Krishnamurthy V Subramanian, the first Indian economist to receive the honour since 1941.
US Federal Reserve Chairman Kevin Warsh has picked former RBI governor Raghuram Rajan, Harvard University economics Professor Raj Chetty and Microsoft XBOX CEO Asha Sharma to be part of task forces constituted to examine the central bank's approach to monetary policy and propose transformational changes.
The harsh truth is that the US is no longer a reliable partner, cautions Ramesh Menon.
A group of prominent Indian citizens, including Arundhati Roy and Naseeruddin Shah, have appealed to protesters on an indefinite hunger strike at Jantar Mantar to end their fast due to health concerns, while fully supporting their demand for Union Education Minister Dharmendra Pradhan's resignation over alleged NEET irregularities.
'After that the burdens of an ageing population will be upon us, and the share of working age population will shrink.'
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
India's manufacturing sector experienced a moderation in growth during June, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 54.2 from 55.0 in May. This slowdown is attributed to softer increases in new business orders and international sales, leading to reduced expansions in buying levels, employment, and output.
Divestment has emerged as a priority for the government following a moderation in direct tax collections.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
'The real shock is going to be from a deficient monsoon.'
If we really want to curb the further depreciation of the rupee and make the rupee appreciate, we want to come out of the mindset that the exchange rate is merely a number, bring policy corrections to help reduce the outflow of foreign exchange by imposing suitable tariffs to discourage imports and bring self reliance, discipline FPIs, and correcting rules governing royalty outflows, suggests Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
India's services sector growth experienced a significant slowdown in June, reaching a 17-month low due to challenging market conditions and reduced domestic client interest, as indicated by the HSBC India Services PMI Business Activity Index.
'They talked bad about our leaders. They said India was a dead economy. They were not sensitive to the Indian psyche.'
Bank of Baroda economists project India's GDP to grow 6.5-6.8 per cent in FY27 but warn that the fiscal deficit could overshoot the budgeted 4.3 per cent target, potentially reaching 4.7-4.8 per cent of GDP due to subsidy overruns, excise duty cuts, and oil marketing company losses.
Rising income feels like success but unchecked lifestyle inflation traps urban professionals into financing a more expensive version of living paycheck-to-paycheck -- buying material upgrades instead of true future financial freedom.
India's remittance inflows have remained robust despite the West Asia conflict, driven by precautionary transfers and diversification of remittance sources, with bankers expecting continued stability for the year.
The primary objective should be to figure out a way to grow at 7 to 7.5 per cent with inflation around 4 per cent. Any policy that can help us get there must be experimented with. Those that work should stay. Those that do not should go, suggests Karan Bhasin.
The Indian central government has reduced its total expenditure by approximately 60,000 crore in FY26, below its revised estimate, to successfully achieve the fiscal deficit target of 4.4 per cent of gross domestic product (GDP), according to the latest data from the Controller General of Accounts (CGA).
A few frantic calls later, the answer emerged: She had missed her connecting flight in London. Not because she was late. Not because she couldn't walk fast enough. She had simply gone to the wrong gate, sat down, and waited.
MNS president Raj Thackeray questions the fuel consumption during recent election campaigns, asking if austerity measures are only meant for the common people.
India's services sector experienced its strongest growth in six months in May, with the HSBC India Services PMI Business Activity Index rising to 59.8. This expansion was driven by healthy demand, new client acquisitions, and improved new business intakes, alongside a softer rise in cost burdens.
The Indian stock market mythos of 36 years is wrapped in a diaphanous negligee, lashed together by a delicate, etheric sash of 1.6 bull markets. To make money from here on will require a ground invasion, trench by trench, rather than carpet bombing. Way more difficult, points out Shankar Sharma.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
We who were dreaming of being the third largest economy in dollar terms, have slid back to sixth, thanks to the falling rupee. We are moving about with begging bowls for investments and trade opportunities, which will be a while in materialising, if ever, notes Shreekant Sambrani.
Kolkata Knight Riders, owned by the Shah Rukh Khan family and Mehta Group, emerged as the most valuable franchise.
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
India's manufacturing sector growth slowed to a four-year low in March, impacted by cost pressures, competition, market uncertainty, and the Middle East conflict, according to the HSBC India Manufacturing PMI.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
India's services sector growth reached a five-month high in April, with the HSBC India Services PMI Business Activity Index rising to 58.8, primarily driven by robust domestic demand and a shift from international to local suppliers amidst the West Asia crisis.
A foreign brokerage warns that sustained crude oil prices above USD 100 per barrel could push India's inflation above the RBI's tolerance level, potentially triggering interest rate hikes.
Ashok Lahiri, a distinguished economist with experience in government, the private sector, and electoral politics, has been appointed as the new Vice-Chairman of NITI Aayog, tasked with strengthening India's reform trajectory and policy-making.
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
