In recent days “World Economic Outlook” report, the International Monetary Fund (IMF) increased India’s GDP growth forecast for FY24 by 40 basis points (bps) to 6.7% and for FY25 by 20 bps to 6.5%, citing “resilient domestic demand. ” India’s major economy would continue to grow at the fastest rate in the world, at 6.7%….
For the second week in a row, foreign exchange reserves increased, reaching a nearly three-month high of $597.9 billion for the week ending November 24. In the week ending November 24, reserves increased by $2.5 billion, following a $5.1 billion increase in the week ending November 17. Both the appreciation or depreciation of foreign assets…
The Reserve Bank of India reported on Friday that for the week ending on October 27, India’s foreign exchange reserves climbed by USD 2.579 billion to USD 586.111 billion. Overall reserves fell by USD 2.363 billion to USD 583.532 billion in the preceding reporting week. The nation’s foreign exchange reserves peaked in October 2021 at…
Based on robust internal fundamentals and low inflation forecasts, India’s major economy will continue to grow at the fastest rate in the world in the 2023–24 fiscal year, according to a report released by the finance ministry on Monday. The Monthly Economic Review’s September issue also noted that recent events in the Persian Gulf have…
India’s foreign exchange reserves rose by USD 1.153 billion to USD 585.895 billion in the week ending October 13, following many weeks of declines, as per RBI statistics. Overall reserves fell by USD 2.166 billion to USD 584.742 billion in the preceding reporting week. The nation’s foreign exchange reserves hit an all-time high of USD…
According to the International Monetary Fund (IMF) and its most recent Regional Economic Outlook (Asia and Pacific) report, India and China are expected to collectively provide over half of global growth in both 2023 and 2024. China’s GDP is expected to develop at a rate of 4.2% in 2024 and 5% in 2023, while India’s…
The RBI reported on Friday that India’s foreign exchange reserves climbed by $6.306 billion to $584.755 billion for the week ending April 7. The currency kitty dropped by $329 million to $578.45 billion in the most recent reporting week, reversing a two-week upward trend. It should be mentioned that the nation’s currency reserves reached an…
The International Monetary Fund (IMF) declared on Sunday that the outlook for the global economy is much more gloomy than it was predicted to be last month, citing a steady slide in purchasing manager surveys in recent months. According to a blog written for the G20 leaders’ summit in Indonesia, the prospects for global economic…
Chief Economic Advisor (CEA) V Anantha Nageswaran stated on Monday that India’s economic growth in the upcoming fiscal will probably surpass the International Monetary Fund’s (IMF) prediction of 6.1% because of increased capital formation. In addition, the CEA emphasized the necessity for fiscal consolidation in the Asia-Pacific area in light of the finance ministry’s ongoing…
Oil prices fell for the third day in a row on Wednesday, as investors worried about the impact on fuel demand from rising global economic threats and increasing COVID-19 regulations in China. Brent crude futures had fallen 51 cents, or 0.5%, to $93.78 per barrel. West Texas Intermediate crude in the United States was trading…
