RBI Maintains Status Quo on Rates, Reiterates Focus on Inflation Management

The Reserve Bank of India’s Monetary Policy Committee (MPC) unanimously decided to keep the benchmark repo rate unchanged at 6.5% while maintaining its stance of withdrawal of accommodation. In his statement, RBI Governor Shaktikanta Das emphasized that the global economy is experiencing a slowdown amidst tightening financial conditions, lingering geopolitical tensions and increasing fragmentation. However, […]

ANALYSIS: Dip in India’s Savings Rate – More of Consumption, Less of Assets

Recent Reserve Bank of India (RBI) data on a sharp fall in savings rate of Indian households during the last financial year has created a lot of controversy. Critics of the current government alleged that the sharp fall in savings rate to 5.1% of GDP — the lowest in 47 years and considerably lower than […]

Centre sees improvement in tax receipts for first 5 months of FY24

The central government has witnessed growth in revenue receipts during the first five months (April-August) of financial year 2023-24, as per data released by the Controller General of Accounts. Total receipts of the government in April-August 2023 stood at Rs 10.3 trillion, a 21.3% increase over the same period last year. This accounts for 38.8% […]

How long can Indian stock markets defy the global correction?

The Indian stock markets have shown remarkable resilience in recent weeks even as global equities have faced intense selling pressure. The benchmark Nifty 50 index has fallen only marginally despite the US markets witnessing one of their sharpest corrections in years. The Dow Jones Industrial Average (DJIA) has plummeted by nearly 1,500 points or around […]

Logistics Activity Picks Up in August, Providing Relief to Industry

After months of sluggish growth, India’s logistics industry finally saw some brighter signs in August with key indicators pointing to an uptick in activity. According to a report by Nuvama Institutional Equities, generation of e-way bills, an important gauge of domestic trade, rose 19% year-on-year in August to cross its previous all-time high. Breaking it […]

Even As China Stumbles, Indian Economy Shows No Signs Of A Slow Down

India’s manufacturing and services sector activity continued to expand at a robust pace in August 2022, as per the latest Purchasing Managers’ Index (PMI) data. The manufacturing PMI rose to 58.6 in August from 57.7 in July, while the services PMI moderated slightly to 60.1 from 62.3 in the previous month. Nevertheless, the strong PMI […]

Assocham predicts double digit FY22 GDP growth

Assocham, one of India’s top three industry associations, has predicted double digit GDP growth for India this year, citing encouraging response from its members. The association, which counts hundreds of manufacturing and service sector companies as its members, said the economy is fast returning to normal after the disruption seen in April and May due […]

India tops world in job loss worries, Indian firms least trusted

A survey by global image consultants Edelman has found that Indians are significantly more worried about losing their jobs than people in any other country, while those in Japan, Saudi Arabia, Netherlands and Germany are the least worried. The survey, which was conducted among 34,000 people in 28 countries, also found that Indian companies were […]

IT, BPO hiring continues to be strong despite slowdown – Naukri index

New jobs posted on Naukri.com, India’s largest recruitment website, showed an increase of 8% in September compared to the same month last year. However, the headline number was boosted by strong demand for IT and BPO professionals, even as other sectors showed weakness. The biggest declines were shown in the automobile sector, which saw 20% […]

COLUMN: Why we should welcome a recession

Subramanian Swamy is often accused of propagating outlandish ideas and suggestions, but at least on the issue of addressing a slowdown in India’s GDP growth, he seems to be closer to the truth than India’s ruling establishment. Both Sitharaman and Swamy are united in recognizing the need for a ‘stimulus’ to nudge the economy from […]

Naveen Jindal says slowdown won’t stop JSPL turnaround

Naveen Jindal, chairman of Jindal Steel & Power Ltd, one of India’s biggest steelmakers, today said the country is going through an economic slowdown, but assured investors that his company would continue to improve profits and reduce debt. Like its peers in the infrastructure and construction businesses, JSPL has very high levels of debt. During […]

Morgan Stanley calls dollar top, predicts end of Fed balance-sheet normalization

Morgan Stanley Research, part of the MS financial services group, said the US currency has likely peaked already and that the US Federal Reserve is likely to follow a more accommodative monetary policy going forward. Fed Chairman Jerome Powell had softened his stance early this month after his December comments about balance-sheet normalization at the […]

Rs 1.7 lakh cr deposited via demonetization may not be withdrawn – SBI

The Indian banking system is likely to get a permanent liquidity boost of Rs 1.7 lakh cr due to the demonetization of high-denomination bank notes, State Bank of India chief economic adviser said in a note to bank clients. He said people were not making the large cash withdrawals that everyone expected them to after the […]

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