India’s CAD at $23.2 bn softens to 0.7% of GDP in FY24

June 25, 2024

India’s current account (CAD) moderated to a seven-year low of USD 23.2 billion in FY2024, easing to 0.7 per cent as a proportion of GDP, from USD 67 billion which was 2.0 per cent of GDP in FY2023. The CAD more-than-halved, aided by, “a lower merchandise trade deficit according to...

Centre imposes limits on wheat stocks

June 25, 2024

In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government on Monday decided to impose stock limits on wheat applicable to traders/wholesaler, retailers, big chain retailers and processors for all states and Union territories. The removal of licensing requirements, stock limits and movement...

India to grow at 7.2 % in FY25 on consumer spending, investment

June 19, 2024

Fitch Ratings on Tuesday upgraded India’s growth forecast for the current fiscal, FY2024-25 to 7.2 per cent, a revision from 7 per cent projected in March 2024, on recovery in consumer spending with elevated consumer confidence even as investment continues to rise but more slowly than in recent quarters. In...

India’s CPI inflation down to 12-month low of 4.75%, food prices a worry

June 13, 2024

India’s consumer price index inflation in May 2024 eased to a 12-month low of 4.75 per cent but still remained significantly above the Reserve Bank of India’s target, driven by food prices, which makes a rate cut by RBI in the coming months unlikely. “Year-on-year inflation rate based on all...

Reserve Bank keeps repo rate at 6.50 %

June 8, 2024

The Reserve Bank of India on Friday left the policy repo rate unchanged at 6.50 per cent, signalling focused intent on achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent, while supporting growth, which is seen at a potential 7.2 per cent in FY25. “While...

Bloodbath on D-street

June 5, 2024

Stock indices witnessed bloodbath on the day the Lok Sabha results are being announced, where incumbent BJP performed below par and seems it may fall short of exit poll predictions and the majority mark on its own. The idea of a coalition government lead by BJP at the Centre has...

Economy beats estimates, grows 8.2% in FY24

June 1, 2024

Growth propels economy to $3.5 trillion and set the stage for achieving the $5-trillion target in the next few years. Amidst deepening geopolitical distress and global macroeconomic headwinds, India’s GDP is estimated to have posted a growth of 8.2 per cent in financial year 2023-24 compared to the growth rate...

India’s urban, infra, green priorities top $2.6 bn ADB lending in 2023

May 30, 2024

The Asian Development Bank (ADB) has commit ted USD 2.6 billion in sovereign lending to India in 2023 for projects that aim to strengthen urban development, support industrial corridor development, pro mote power sector reforms, build India’s climate resilience, support horticulture, and enhance connectivity, the lender said on Wednesday. The...

Robust growth, Govt capex positive, poll outcome not to deter reforms

May 30, 2024

Standard & Poor Global Ratings on Wednesday revised its outlook on India to positive from stable on continued policy stability, deepening economic reforms and high infrastructure investment which will sustain long term growth prospects. That, along with cautious fiscal and monetary policy that diminishes the government's elevated debt and interest...

Jaishankar seeks more than business to tackle global challenges

May 18, 2024

Minister of External Affairs, S Jaishankar, on Friday set out India’s strategy to mitigate the impact of some of the geopolitical realities that the world is faced with today – including the Russia-Ukraine conflict, an escalation of the Iran-Israel conflict that can potentially spread to the Middle East, the three...