Page 34 - Indian Economy

RBI should focus on softening core inflation: MPC's Shashanka Bhide

"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said

India rice export curbs to end a decade of price stability: Report

India's recent curbs on rice exports could trigger a rally in global prices after more than a decade of stability, traders said, as New Delhi's protectionist move coincides with falling output

Economy lightens up on festive season demand as shoppers back in force

Online marketplaces Amazon.com Inc., and Walmart Inc.-owned Flipkart saw sales jump 27% from a year ago to $5.7 billion during the festival season's first sale between Sept. 22-30

India suffered income loss of $159 bn due to extreme heat in 2021: Report

India suffered an income loss of USD 159 billion, 5.4 per cent of its gross domestic product, in the service, manufacturing, agriculture, and construction sectors due to extreme heat in 2021, according to a new report. Heat exposure in the country led to the loss of 167 billion potential labour hours, a 39 per cent increase from 19901999, said the Climate Transparency Report 2022 compiled by an international partnership of organisations. Labour productivity in India is projected to decline by five per cent from the 19862006 reference period if global temperatures increase by 1.5 degrees Celsius, it said. The decline in labour productivity will be 2.1 times more if the global temperatures increase by 2.5 degrees Celsius, and 2.7 times at a three degree Celsius scenario. Between 20162021, extreme events such as cyclones, flash floods, floods, and landslides caused damage to crops in over 36 million hectares, a USD 3.75 billion loss for farmers in the country, the report said. The an

Unseasonal rain, crop losses could keep India's food inflation high

Economists say annual headline inflation will likely start easing from September's 7.41% peak but price pressures on grains, vegetable, and milk will persist

India's economic growth outlook stagnates, stuck in lower gear: Report

India's economy will grow well below its potential over the next two years, with inflation staying above the mid-point of the RBI's tolerance band, according to a Reuters poll

Global economy facing disruptions, India can't be decoupled: Rakesh Mohan

Country has to tailor its actions in response to international crises, says economist and former deputy governor of RBI

Tussle over secrecy delays trade data compilation by Commerce Dept: Sources

The development comes in the backdrop of India's merchandise exports witnessing 4.8 per cent year-on-year rise to $35.45 billion in September

Lot of work required to bring country's economy back to life: Rahul Gandhi

Congress leader Rahul Gandhi on Wednesday said a lot of work was required to bring the country's economy crippled by the Narendra Modi regime at the Centre back to life irrespective of whether the rupee was strong or weak. Responding to questions at an interaction with media during his ongoing Bharat Jodo Yatra in Adoni, he said BJP's policies had completely destroyed the strength of India's economy and it was not just a question of the dollar price. "Idea of strong or weak rupee, whether it is good or bad... it is actually more nuanced than that. It doesn't actually work like that. But it is the question of how you look and think about the Indian economy," Gandhi remarked. A strong rupee has advantages and disadvantages. Both have to be taken into account, he said. The Wayanad MP noted that job creation in the Indian economy has always happened on the back of small and medium businesses and a strong agriculture sector. "Demonetisation and GST destroyed both these systems. Lakhs

How is centre faring on its non-tax revenues, divestment targets in FY23

The total non-tax revenue target for the year is Rs 2.69 trillion, while that for disinvestment is Rs 65,000 crore

Despite economic recovery, real rural wage growth remains flat in FY23

The growth in nominal terms has been steady but the sharp rise in inflation seems to have eaten into the increase

Recovery tracker: More people travelling by air, workplace visits up 9.7%

Indian Railways registers higher growth in quantity of goods carried

Govt must set moderate divestment targets, says DIPAM Secretary

Last fiscal year, the government raised just over Rs 13,500 cr from the sale of stakes in state-owned firms, a fraction of its target of Rs 1.75 trn and missing its divestment goal for a third straigh

Cocktail of macroeconomic data paints bleak picture of global economy

Long, short or medium, all of the announcements by governments of the world are "willing and able" to make the equity, currency and commodity markets gyrate wildly

Top Headlines: Diesel car cost likely to rise, recession in 2023, and more

Indian CEOs are expecting a decline in growth prospects of companies and the country, but are expecting to bounce back in the short-term, a report said

Can't expect inflation to drop faster by raising rates: Jayanth R Varma

I think we can bring inflation down to 5 per cent in a couple of quarters, says MPC member Varma

140 million pulled out of poverty in India since 2015-16, says UNDP

Incidence of multidimensional poverty declined from 55.1% in 2005-06 to 16.4% in 2019-21

Headline inflation might have peaked in September, says RBI report

But cautions that fight against price rise will be 'dogged and prolonged'

58% of CEOs in India expect a recession to be mild and short: KPMG survey

66 per cent CEOs in India compared to 86 per cent globally anticipating a recession to hit over the next year

Wait for India-UK free trade agreement likely to extend until mid-2023

One of the officials said that the trade deal between India and the UK is at the last stage