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Top headlines: Das clarifies on repo rate; wholesale inflation rises in Nov

From Moody's comment on weak household consumption in India to Modi's comment on Citizenship Act protests, Business Standard brings you the top headlines of the day

BS Web Team  |  New Delhi 

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November wholesale inflation rises to 0.58%

Wholesale prices based inflation rose to 0.58 per cent in November, as against 0.16 per cent in October due to increase in prices of food articles. The rate of price rise for food articles rose to 11 per cent during the month as against 9.80 a month earlier, while for non-food articles it eased 1.93 per cent from 2.35 per cent in October, showed the data released by the Ministry of Commerce and Industry on Monday. Read here

RBI foresaw economic slowdown, says Shaktikanta Das

RBI Governor Shaktikanta Das on Monday said the central bank had acted ahead of time by starting to slash rates in February this year, and hoped the decision to pause the cuts earlier this month will prove to be a right call over time. He also hoped for the US-China truce on trade tariffs, announced over the weekend, would last as he pitched for coordinated efforts to push global growth like those after the 2008 financial crisis. Read here

Moody's sees weak household consumption hurting economic growth

Moody's Investors Service on Monday said that India's weak household consumption will curb economic growth and weigh on the credit quality of Indian issuers in a range of sectors. Moody's has lowered its GDP growth projection for India for the fiscal year ending March 2020 to 4.9 per cent from 5.8 per cent. Read here

Modi reacts on 'violent protests' against citizenship law

Violent protests against Citizenship Amendment Act are "deeply distressing”, said Prime Minister Modi, as tensions ran high across India Monday against the contentious legislation. Anger against the law has fueled protests across the country, from Assam to Delhi, to demonstrations in Bengaluru and Mumbai. Read here

China's factory, retail sectors shine

Growth in China's industrial and retail sectors beat expectations in November, as government support propped up demand in the world's second-largest economy and amid easing trade hostilities with Washington. The set of upbeat figures released on Monday follow firm signs of progress in Sino-US trade negotiations over the weekend after the world's two largests economies announced a "phase one" trade deal that would nearly double US exports to China. Read here

First Published: Mon, December 16 2019. 16:22 IST