Price stability is our mandated goal: Reserve Bank

April 20, 2024

The bright growth prospects of the Indian economy in 2024-25 supported by strengthening rural demand, rising consumer confidence, optimism on employment and income, strong prospects of the manufacturing and services sectors are among the factors cited by Reserve Bank of India Governor in pushing for a vote to keep the...

Global growth at 2.6%, India’s strong public investment outlays, services beneficial

April 18, 2024

India was one of the ‘large economies -- apart from China, Indonesia, the Russian Federation, the United States, among others – which escaped the financial trouble that loomed earlier in the year 2023 – thus emerging as a stakeholder in the world economic growth of 2.7 per cent, just 0.2...

Overall Exports Touch $776.68BN in FY24

April 16, 2024

Despite persistent global challenges, India’s overall exports (merchandise + services) in financial year 2023-24 (FY24) reached USD 776.68 billion, surpassing the USD 776.40 billion of overall exports achieved in 2022-23 (FY23) with a growth of 0.04 per cent year-on-year as electronic goods, drugs and pharmaceuticals, engineering goods, iron ore, cotton...

Retail inflation eases to 4.85% in March ’24, experts flag food price worry

April 13, 2024

Days after RBI kept its policy rates in abeyance, India’s consumer price index led retail inflation moderated to 4.85 per cent in March 2024 even as food inflation softened marginally and core inflation remained steady at 3.5 per cent. The CPI stood at 5.1 per cent in January and February,...

Building India: Infra development in 10 years of Modi govt

April 12, 2024

The Government of India has embarked on an ambitious journey to revolutionize the country’s infrastructure landscape, aiming to bolster economic growth, enhance connectivity, and improve the quality of life for its citizens. With a focus on modernizing transportation networks, upgrading urban amenities, and expanding digital infrastructure, the government has launched...

Ujjwala Yojana: Igniting change, empowering lives with clean cooking fuel

April 10, 2024

In May 2016, Government ofV India launched Pradhan Mantri Ujjwala Yojana (PMUY), a social welfare scheme supporting Prime Minister Narendra Modi’s vision of a smoke-free rural India. The key objective of the scheme is to replace harmful cooking fuels such as coal and firewood with clean LPG to protect women...

Auto retail sales post modest growth of 3.14 % in March

April 9, 2024

Despite election uncertainties, economic concerns and intense competition, the two wheeler and 3W segments showcased positive sentiment in March retail sales, especially in the premium and EV segments even as the Indian auto retail sector posted a modest growth of 3.14 per cent yoy in March 2024, with passenger vehicles...

RBI’s bank lending survey for Q4 of 2023-24

April 6, 2024

Today, the Reserve Bank released the results of 27th round of its quarterly Bank Lending Survey1, which captures qualitative assessment and expectations of major scheduled commercial banks on credit parameters (viz., loan demand as well as terms and conditions of loans) for major economic sectors2. The latest round of the...

Reserve Bank keeps policy repo rate at 6.50%

April 6, 2024

The Reserve Bank of India on Friday, as widely expected, kept the policy repo rate unchanged at 6.50 per cent, remaining focused on the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent while supporting growth even as the domestic economy experiences strong...

India’s growth pegged at 6.6% in FY25, resilient demand is key

April 3, 2024

Amidst further deceleration in global growth this year, lagged and ongoing effects of tight monetary policy, restrictive financial conditions and feeble global trade and investment, India is one of the key exceptions among emerging market and developing economies (EMDEs) which are set to make limited progress catching up to advanced...