According to Ashima Goyal, a member of the RBI’s Monetary Policy Committee (MPC), the Indian economy has begun to perform well despite the unfavorable global environment since the Modi-led administration has carried out numerous reforms over the past nine years that have improved important macroeconomic indices. Goyal argued that it is foolish to extrapolate too…
In early trade on Wednesday, the rupee traded in a narrow range against the US dollar as high crude oil prices and a strong greenback offset the support from favorable macroeconomic data. Foreign exchange dealers claimed that domestic industrial production and retail inflation data were better than expected and backed up investor confidence. Investors are…
According to the S&P Global monthly survey, India’s manufacturing sector experienced its quickest rise in three months in August, powered by a significant increase in new orders and output. The manufacturing sector’s health improved by the second-best amount in nearly three years in August, according to the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’…
According to an announcement from the Ministry of Commerce and Industry, the wholesale price-based inflation rate was (-)1.36% in July 2023 compared to (-)4.12% in June 2023. The costs of mineral oils, basic metals, chemicals, and chemical products, textiles, and food items have all decreased since July 2023, according to the report. For the fourth…
Shaktikanta Das, governor of the Reserve Bank of India, announced on Thursday that following three days of discussion, the Monetary Policy Committee has opted to hold the key policy repo rate at 6.5 percent, maintaining the status quo for a third straight time. According to Shaktikanta Das, the MPC decided by a margin of 5:1…
Due to falling costs for food, gasoline, and manufactured goods, the wholesale price-based inflation rate in May decreased by (-) 3.48 percent, reaching a three-year low. The inflation rate based on the wholesale pricing index (WPI) has been negative for two months in a row. The value for April was (-) 0.92 percent. The WPI…
India’s economic growth most likely matched government predictions because demand sparked an expansion in the services sector and mitigated the effects of high borrowing rates. According to the consensus estimate in a Bloomberg survey, which is in line with a government forecast given three months ago, data due on Wednesday is anticipated to reveal that…
Early Thursday morning Asian trade saw a decline in oil prices as concerns over whether the US will escape a financial default outweighed the potential for more production cutbacks from OPEC+.In the Morning session, Brent crude futures had dropped 5 cents, or 0.1%, to $78.31 per barrel. West Texas Intermediate (WTI) crude for the United…
Despite numerous tries throughout the past month, Bank Nifty has not yet crossed its all-time high of 44,151.80. As the monthly derivatives expiry nears, it has been range-bound and aimless for the past several sessions, which has worried investors. While the Bank Nifty’s growth has been restrained by the failure of large US and European…
Following a recovery in the dollar and weaker Chinese currencies, the Indian rupee concluded the prior week on a negative note. The local unit dropped for the second consecutive week to close at 82.77, the lowest level since February 2023. The rupee fell after reaching 82.50, despite significant inflows of foreign capital. Foreign institutions have…
