Page 197 - Indian Economy

Oil shock: Economy will suffer, but less reason to worry than in the past

The fear now is that consumers will take longer to come out of their shell, growth will moderate and full recovery from the effects of the pandemic will be stretched out even longer, writes T N Ninan

Ukraine crisis: 'Raw material prices may see rise; steel output to be hit'

Amid the Russia-Ukraine crisis, the commodity and raw material prices will see a steady increase and this will in turn impact the input cost of steel production, the Indian Steel Association said.

Forex reserves jump by $2.76 bn to $632.95 bn: RBI data

In the previous reporting week, the overall reserves had declined by USD 1.763 billion to USD 630.19 billion

Moody's ups India's FY23 growth forecast to 8.4%; Fitch maintains 10.3%

Had predicted 7.9%; says oil & supply could spoil party

Uneven economic recovery nudged MPC to continue policy support: Minutes

The six-member MPC voted to keep the policy rate unchanged and continued with the accommodative stance at its meeting on February 10

Two-wheeler sales volume to fall for third straight fiscal year: Crisil

'Three consecutive years of decline will take two-wheeler sale volumes back to the fiscal 2014 level and it may take 3-4 years to reclaim the peak sales volume of 2.11 crore seen in 2019'

Economic recovery uneven, govt should continue support measures: Report

Pointing out that the ongoing recovery is still uneven and not broad-based, a foreign brokerage report said the government should continue the income support measures for the affected sectors.

Centre taking steps to boost oilseeds production; promote millets: Goyal

Food and Consumer Affairs Minister Piyush Goyal on Thursday said nearly 4 lakh hectare area of rice fallow will be used for oilseeds cultivation in 100 districts of 10 states as part of the government's efforts to boost domestic output and reduce imports of edible oils. The minister was addressing a webinar on 'Smart Agriculture: Bringing Back Glory of Millets; Moving Towards Aatmanirbharta in Edible Oil'. Moreover, he said 230 high-yielding districts of oilseeds have been identified. Nearly 20 lakh hectare area will also be brought under intercropping of oilseeds in next 5 years, an official statement quoted Goyal as saying. India imported edible oils worth Rs 1.17 lakh crore during 2020-21 marketing year ended October 2021, according to trade data. With emphasis on millets, India is going back to its roots like Yoga, the minister said. Bringing back the glory of millets will make the country Aatmanirbhar in 3 areas-- Food, Nutrition & Economy, Goyal said. Suggesting four ...

Indian economy poised for recovery, but high crude prices worrisome: CEA

The banking sector in the country is stable, capital is available and credit offtake is poised to take off, said CEA V Anantha Nageswaran at a webinar organised by Bharat Chamber of Commerce

Uncertainties remain around India's medium-term debt trajectory: Fitch

Fitch Ratings said India's economy is rapidly recovering from the pandemic but uncertainties remain around its medium-term debt trajectory.

Moody's ups India growth estimates to 9.5% in CY2022 on stronger recovery

In its update on Global Macro Outlook 2022-23 today, Moody's said sales tax collection, retail activity and Purchasing Managers Index suggest solid momentum

Indian economy likely grew at slower pace in final quarter of 2021: Poll

The Indian economy likely grew at a slower pace in the final quarter of 2021, primarily due to lacklustre manufacturing output and investment, according to economists in a Reuters poll.

Best of BS Opinion: Flashpoint Ukraine, circular economy for plastic & more

Here are the best of BS Opinion pieces of the day

Inflation may have peaked in January: RBI deputy governor Michael Patra

The six-member monetary policy committee of the RBI - that sets interest rate - has a target to maintain CPI inflation at 4 per cent

Covid-hit FY21: Demand shrinks all across, save food and household services

Biggest blow felt by restaurants and hotels, followed by clothing, footwear, transport and alcoholic beverages; surprisingly demand for health services also contracted

Best of BS Opinion: Alternative growth path, onerous disclosures & more

Here are the best of BS Opinion pieces of the day

Centre likely to miss national monetisation target for next fiscal

For FY22, the railways had lined up projects worth around Rs 17,810 crore for monetisation

Ukraine crisis: Crude oil surge a challenge to financial stability, says FM

Brent crude prices shot up to $99.1/barrel from $96/barrel on Monday after the Russia-Ukraine crisis deepened, but it fell to $97.86

Centre may borrow towards cancelled debt auctions, says report

The government had cancelled its last two weekly debt sales worth 240 billion rupees ($3.21 billion) each as global yields surged and as the state had achieved a comfortable cash balance

Govt sanctions four national highway projects worth Rs 4,500 crore

The projects announced by Union Minister Nitin Gadkari pertain to the construction, widening, and upgrade of national highways in Assam, Telangana, Karnataka, and Andhra Pradesh