The World Bank reduced its FY23 growth forecast for India to 6.5% from 7.5% in June, the most pessimistic prognosis for the country by any major institution, as it warned of a “deteriorating external environment.” For FY24, it has trimmed the growth forecast by 10 basis points to 6.5%. “In the face of slowing global…
The Indian rupee is projected to fall further as the dollar strengthens and markets become more risk-averse. The USDINR pair is likely to rise to 83 in the next sessions. The rupee fell to a new record low of 81.94 against the US dollar in the previous session, as US bond yields rose. So far…
Vedanta Resources, which has made 80,000 crores of rupees in Odisha, announced that it intends to invest an additional 25,000 crores there in order to grow the mining, ferrochrome, and aluminium sectors of the state’s economy. According to a firm statement, with this amount of investment, its operations (direct and indirect) are generating close to…
India’s economic growth is accelerating, and after increasing until April 2022, inflation has declined. Mid-September 2022’s monthly macroeconomic data releases are anticipated to continue most of these tendencies world economy is presently experiencing a significant slowdown in growth. Nevertheless, despite some initial signs of a slowdown, average global inflation is still very nearly at its…
With the strength of the dollar, the Indian rupee is likely to weaken. Increased petroleum prices, worries about interest rate increases, and recession worries are also anticipated to have an impact on the local currency. Analysts predict that the USDINR spot price will fluctuate between Rs. 79 and Rs. 80.50 over the next several trading…
India is expected to declare that the country’s economy expanded by double digits in the first quarter of its fiscal year, primarily as a result of the base effect but also because of increased demand and consumer spending. Analysts predict that India’s GDP increased by up to 16% year over year in the April–June quarter…
WTI Crude oil futures ended the last week 1.4% lower and closed at $90.77 per bbl, amid rising concerns of a global economic slowdown. Recession fears continue to spend pressure on energy markets, with Fed minutes a generating commitment to drop inflation to the 2% target range. U.S. crude stockpiles drop by 7.06 million barrels in…
India’s growth rate slipped to a four-quarter low of 4.1% in the January-March period as a resilient post-pandemic rebound was disrupted by the Russia-Ukraine war that inflated prices of oil and other key commodities, and impeded the global supply chains. As Yet, in 2021-22, the country re-captured the fastest-growing major economy tag from China after…
