ECONOMY


India's central bank is mulling further rate hikes, said its governor Shaktikanta Das.   He also said the Reserve Bank of India (RBI) will not allow the rupee to depreciate and prevent volatility in the currency market.   In an interview to the CNBC TV18 channel, Mr Das also...

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High climatic temperatures affecting northwest India curbing wheat production and possible extended power outages exacerbating already high inflation and hurting growth is credit negative, said Moody's Investors Service on Monday.   The credit rating agency in a report said: "Over the...

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Moneylife Digital Team 19 May 2022
Expecting the retail inflation to average at a nine-year high of 6.9% in FY22-23, India Ratings and Research (Ind-Ra) says the Reserve Bank of India (RBI) will increase the policy rate by 75bps (basis points) at least in the rest of FY22-23.   According to the rating agency, the hike...

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India's wholesale inflation, gauged by the Wholesale Price Index (WPI) , rose to 15.08% in April from 14.55% in March, official data showed.   The WPI inflation was 10.74% a year ago.   Reportedly, WPI has been in double digits for over a year now.   The rate of...

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Amidst the continued rise in inflation, it is now almost certain that the Reserve Bank of India (RBI) will raise key policy rates in the June and August policy review meetings, thereby taking it to the pre-pandemic level of 5.15% by August 2022, said SBI Research in a report, adding that even...

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India's retail inflation accelerated to 7.79 per cent in April, remaining above the tolerance limit of the central bank for a fourth month in a row, data released on Thursday showed.   The retail inflation stayed well above the Reserve Bank of India's upper tolerance limit for a...

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Moneylife Digital Team 04 May 2022
Off-balance-sheet borrowings of states are estimated to have reached a decadal high of about 4.5% of gross state domestic product (GSDP), or around Rs7.9 lakh crore, in fiscal 2022. That marks a rise of 100bps (basis points) from fiscal 2020, reveals a CRISIL Ratings' study of 11 states that...

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Dr TV Gopalakrishnan 28 April 2022
"Many of the economic challenges we face today stem from the neglect of supply side policies over the past decade or more." Augustine Carstens (Times of India).    At 14.55%, March Inflation Hits Four Months (High Business Line)   Price Rise, Geopolitical Woes Offset Gains...

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Moneylife Digital Team 19 April 2022
Reflecting the deterioration in domestic financial conditions, CRISIL Ratings' Financial Conditions Index (FCI) dropped below the zero mark in March, indicating that the economic conditions were tighter than in the previous month and relatively tight compared with average conditions in the...

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India's 2070 net-zero target and intermediate goals through 2030 present significant policy implementation challenges for the government, carving a more central role for private companies and investors to drive the transition, according to a new report by global financial services company...

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High cost of 'fuel and power', due to the Russia-Ukraine war, along with those of primary articles pushed up India's March 2022 wholesale inflation to a 4-month high level.   Accordingly, the annual rate of inflation, based on wholesale prices, rose to 14.55% last month from 13.11%...

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A normal monsoon season this year is expected to mitigate some inflationary pressures, especially being witnessed in certain food commodities.   Besides, healthy and well-spread rains will repose faith in the country's economy which faces ever increasing risk of 'Stagflation' due to...

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Higher cost of food items, as well as expensive fuel and manufactured goods like clothing and footwear, pushed India's retail inflation to a 17-month high in March 2022.   As per the data furnished by the National Statistical Office on Tuesday, the Consumer Price Index (CPI) rose by...

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The growth rate of India's manufacturing sector sequentially slowed in March 2022 due to softer rise in demand.   Accordingly, the seasonally-adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) came in at 54 (index reading) from 54.9 in February.   The PMI...

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India's economy, which is already reeling under inflationary pressure, now faces an ever increasing risk of stagflation.   The economic trend of stagflation is marked by rising inflation and stagnant GDP growth.   Lately, the geo-political crisis involving Russia-Ukraine has...

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Debashis Basu Debashis Basu 15 March 2022
Market indices have put on a strong rally supposedly in reaction to Bharatiya Janata Party's (BJP’s) victory in four state legislative assembly elections. While huge relief rallies are natural in bear markets, this one was a surprise. After all, the market has not been declining because of...

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Energy and commodity prices-including wheat and other grains-have surged due to the war in Ukraine, adding to inflationary pressures from supply chain disruptions and the rebound from the Covid-19 pandemic, the IMF has said.   Price shocks will have an impact worldwide, especially on...

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High commodity prices as well as outflow of foreign funds from equity markets dragged Indian rupee to a new record low against the US Dollar.   Accordingly, rising prices of crude oil along with other commodities triggered by the Russia-Ukraine war had kept a weak pressure on the...

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Moneylife Digital Team 26 February 2022
The ground action by Russia after a long-standing build-up has begun in Ukraine; however, the chances of much more significant escalation look less at this point. Irrespective of the military objectives, the impact of the conflict will be felt across commodities and asset classes. Oil prices...

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IANS 24 February 2022
For every 10 per cent increase in crude oil prices, the wholesale price index in India increases by 0.9 per cent - 1 per cent and the consumer price index by 0.4 per cent - 0.6 per cent.   A 10 per cent rise in oil prices leads to an increase of nearly $15 billion in India's current...

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