Page 169 - Indian Economy

Exports up 23.5% to $40 bn in June; trade deficit widens to record $26.2 bn

Crude oil imports in June almost doubled to $21.3 billion. Coal and coke imports more than doubled to $6.76 billion in the month under review as against $1.88 billion in June 2021

Rupee falls to 79.88 against dollar with 100 bps Fed hike on cards

The rupee was trading at 79.80 against the US dollar at 10.10am IST, compared to its close of 79.64 on Wednesday

CAD expected to deteriorate in FY23 on costlier imports: FinMin report

With regard to corporate sector, the report said, it has begun to show signs of revival with robust growth in net sales in the quarter ending March 2022, assisted by a general recovery in demand

Future imperfect

The gradual loss of momentum of growth in sentiments can be traced to the deterioration in consumer expectations from the future

IMF has warned that a long downturn is happening. But is anyone listening?

The IMF has not minced any words when it comes to fiscal policy. It has always advocated tight control over the political inclination to spend now and let someone else worry about the future

Top headlines: 5G spectrum auction, economic growth projection, and more

From 5G spectrum auction to tax irregularities, here are the top headlines on Thursday morning

TMS Ep215: IIP & inflation, HDFC Bank, Martin Wolf, moving averages

What do IIP numbers tell us about the economy? What does Martin Wolf think of Indian and global economies? How will the banking sector perform in Q1? Moving averages a must for trading? Answers here

Farm to Fork: Consumers curb discretionary spends to combat inflation

Households are repaying debt and replacing costlier loans with cheaper options; rising costs are taking a toll on ability to save enough

IIP growth up just 1.7% compared to pre-Covid periods, manufacturing lags

Flat growth may prompt the monetary policy committee not to go for an aggressive rate hike in August

CAD as percentage of GDP: Nowhere near 2012-13 level, yet worrisome

If up to $50 billion is withdrawn from forex reserves to finance CAD, the country would still be able to meet nine month's imports. Any withdrawal beyond this could pose a problem

Rupee drops to new low of 79.62 against USD amid domestic equities' losses

At the interbank forex market, the local unit opened strong at 79.55 against the greenback but could not hold on to gains and slipped in the negative territory

Taper tantrum playbook key for RBI as rupee continues slide to record lows

The rupee has declined almost 7% this year, bringing back memories of the selloff nearly a decade ago, when fiscal and current account deficits also widened

India should be broadly aligned with the West: Financial Times' Martin Wolf

In a Q&A, Martin Wolf, chief economics commentator at Financial Times warns that big problems are emerging due to relatively weak investment in the private sector

India's manufacturing exports may touch $1 trillion by FY28: Bain

The six sectors driving export growth will be chemicals, auto, electronics, pharmaceuticals, textiles and industrial machinery

India's retail inflation eases marginally in June, but rate hike on cards

The RBI has the mandate to ensure that inflation remains at 4%, with a margin of 2% on either side

CPI inflation pegged at 6.8-7.25% in June; IIP growth at 14.5-24% in May

According to MPC's own projections, the inflation rate may not come down below 6% on average before the fourth quarter of the current financial year

India to overtake China as world's most populated country in 2023: UN

Economic impact: People's productivity will have to increase to support larger numbers, say experts

Rupee drops 19 paise to new low of 79.45 against USD amid FPI outflows

However, receding crude oil prices in the international market restricted the loss for the rupee, which posted its third straight session of decline

'India Inc staring at 3rd consecutive qtr of profit margins squeeze in Q1'

India Inc is staring at the third consecutive quarter of a year-on-year drop in profit margins for the April-June 2022 period, a Crisil Ratings arm said on Monday. Operating profit margins have likely fallen by 2-3 percentage points for the June quarter as compared to the year-ago period, Crisil Research said after analysing 300 companies excluding those from financial services and oil and gas sectors. It said almost half of the 47 sectors it tracks are likely to show a contraction in margins. Corporate revenues are estimated to have logged a healthy growth of 30 per cent on-year in the first quarter, largely supported by price hikes and moderately rising volumes, it said. The rating agency estimates come ahead of earnings for the June quarter by a majority of companies, which come amid adverse events like the impact on commodities because of the geopolitical tensions and depreciation in the Indian rupee to record lows. Operating profit margins in construction-linked sectors are ..

India's retail inflation likely held steady just above 7% in June: Poll

The July 4-8 Reuters poll of 42 economists showed inflation as measured by the consumer price index (CPI) was steady at an annual 7.03% in June, versus 7.04% in May