Page 29 - India Economy

RBI not to remove its finger from repo rate pause button: Experts

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may not remove its finger from the repo rate pause button it had hit in April 2023, said experts

Contribution of women important for achieving $5 trn economy goal: Giriraj

Union Minister Giriraj Singh on Tuesday stressed on the importance of the contribution of women and rural households in achieving India's goal of having a USD 5-trillion economy and said that women members of self-help groups will transform the country in the future. Addressing an event here, the rural development minister said women members of self-help groups have seen saw a 19 per cent increase in their income and a 28 per cent rise in savings. He also stressed on reaching the goal of bringing 10 crore women under self-help groups by 2024. At present more than nine crore women are linked with these groups. "Women members of Self Help Groups will change India in the days to come," he said. The Rural Development Ministry recently launched a campaign to mobilise one crore women from eligible rural households to join Self-Help Groups promoted by the ministry's Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). The drive, which will continue till June 30, aim

Global environment challenging but company steadfast : TCPL chairman

The global environment has been challenging due to volatile macroeconomic condition and geopolitics but the company remains steadfast and is focusing on building a strong platform for progress, Tata Consumer Products Ltd (TCPL) Chairman N Chandrasekaran said on Tuesday. Addressing shareholders at the annual general meeting, he said TCPL has been on a transformative journey and has made significant progress during the last three years into becoming and evolving as a leading FMCG company. "During this period, a number of decisive actions have been taken to become a growth-oriented company and build a strong organisational capability," he said. The company continues to focus on strengthening its core business and at the same time, work on new opportunities to expand the target addressable market, said Chandrasekaran, who is also the chairman of Tata Sons, the holding firm of Tata Group. "The global environment has been sort of challenging due to a volatile macroeconomic condition as w

Statsguru: Six charts explain RBI's annual earnings report for FY23

The RBI is set to transfer over Rs 87,000 crore to the government. Budget estimates for dividends from the RBI, nationalised banks, and financial institutions were Rs 48,000 crore

India's forex reserves fall for second straight week at $589.14 billion

Reserves had fallen by $6.05 billion in the week ended May 19, the biggest fall in more than three months

Govt to build a developed India by 2047, focusing on all sectors: Rajnath

With great power comes great responsibility, Defence Minister Rajnath Singh said on Friday quoting a famous dialogue from Hollywood blockbuster "Spiderman" to emphasise that India's responsibility will increase in sync with its rising global stature. In an address at an event, Singh also noted that when India emerges as a superpower, it will have to ensure that universal values like democracy, religious freedom, dignity of human beings and global peace are established all over the world. The defence minister said the government is working to build a developed India by 2047, focusing on almost all sectors of the country. Talking about the political landscape in the country, Singh said that political parties are integral to democracy and it cannot survive without them. At the same time, he rued that many political parties in India do not operate based on any ideology and their politics revolve around a person or a family or a caste. "I think such politics should have no place in a ..

Rising risk appetite may affect some Banks' credit profiles: Fitch

Banks' loan growth over the financial year ended March 2023 (FY23) reached 15.4 per cent, the highest since FY12

Services exports in April rises by 7.5% on year to $25.84 billion

India's services exports in April rose 7.5% on year to $25.84 billion, while imports recorded a 3.1% decline to $13.63 billion, provisional data published by the Reserve Bank of India showed

GDP preview: Why is India likely to retain fastest-growing economy tag

Growth in services and manufacturing and private investment rebound likely to have helped economy in Q4

Economists predict first rate cut by RBI in 2024 for durable growth

Policy makers from the RBI will meet June 6-8 to deliberate and economists are expecting another hold in rates as the central bank focuses on growth while inflation shows signs of moderating

Share of salaried women workers declines to 2-year low in March quarter

Though the share of women in primary sector employment which includes agriculture and allied activities declined in the March quarter, it still remained elevated at 9.3 per cent

Inflation rate in India lesser than US, UK, Germany: Union minister Kishan

Asserting that the NDA has provided a corruption-free government to the nation in the last nine years, Union minister G Kishan Reddy on Monday claimed that the inflation rate in India was lesser than many other countries including the United States, United Kingdom and Germany. Reddy, who visited Bhubaneswar on the occasion of the BJP-led National Democratic Alliance (NDA) government completing nine years in power at the Centre, told reporters, "The inflation rate in India is lesser than many developed countries including the US, UK, Germany and Japan. Even the fuel price in the country is lesser than many nations." On a query about unemployment, the Union Minister for Culture, Tourism And Development Of North Eastern Region (DoNER) claimed that the Centre is filling up "80,000 posts every month" and many youths are getting jobs in different sectors due to overall growth. He said India is manufacturing everything from toys to trains and defence equipment and youths will be benefited

RBI may reduce policy repo rate in fourth quarter of 2024: Oxford Economics

Global forecasting firm Oxford Economics on Monday said the RBI may cut key benchmark policy rate in the fourth quarter of the current calendar year as a mix of factors will allow the central bank to shift focus and adopt a more accommodative policy stance sooner. It further said inflation has already begun easing, and consumer inflation expectations are falling, so attention has shifted from estimating the peak level of the current hiking cycle to the timing of rate cuts. "We are updating our baseline view for India to include a first rate cut by the RBI in Q4 2023. "We think a mix of factors will allow the RBI to shift focus and adopt a more accommodative policy stance sooner," Oxford Economics said. It noted that despite easing price pressures recently, risks to inflation over the remainder of the year are to the upside. "The MPC will want to see clear signs that inflation is stabilising in the middle of its target range before considering a dovish move in our view this will .

How To Withdraw PF Advance Online? Here's A Step-By-Step Guide

Employees Provident Fund or EPF is a mandatory savings and retirement scheme for employees of an eligible organisation, which can be used as a corpus post-retirement.

Advance estimates fail to gauge economy correctly in periods of uncertainty

Advance estimates have varied from actual numbers during 2008 crisis, Eurozone crisis, 'policy paralysis' and Covid lockdown years

Suggestions of influential persons on trade policy and their scrutiny

The government is keen on giving incentives for exports but is also keen on justification on the basis of export performance

The darkness of trivialisation

Economic policy tradecraft cannot be executed with inferiority complex that constantly requires divisive religio-cultural and ethnic grievances to be sated

Better numbers in private projects

Three hoops to jump to be convinced that torrid growth will come

IPEF members "substantially conclude" deal on supply chains in Detroit

However, no mention of a proposal made earlier by US seeking advance notices on tariff changes and export curbs from partner countries, before firming up their positions

India to push back against 'agenda-driven' global ranking firms: Sanyal

Over the past year, India has in various meetings pointed out the flaws in methods used to compile global indices used by institutions like the World Bank, WEF and UNDP, Sanyal said