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THIS WEEK'S HIGHLIGHTS

* Centre’s latest move to restrict exports of wheat flour is taken to address twin problems of rising wheat prices and to ensure domestic food security. Media reports suggest that the current wheat stock (26.6MT) is at 15yrs low but above the buffer stock level. Considering this situation government has already replaced wheat with rice in schemes like PMJKY and NFSA.

* Government is planning to raise funds through InvITs in the coming month for funding four road projects. The target set for 2024 is at 2 lakh km vs 1.4 km currently.

* Rajasthan attracts investments worth Rs 700bn from companies like Avadda power, Asahi India Glass Ltd, Saint Gobain, Varun Beverages and Wipro for setting up projects like manufacturing facilities, renewable energy plants etc.

* US flash PMI for Aug signals weakness in demand with easing inflationary pressures and supply chain constraints. Better consumer spending and lower decline in government spending lifted the GDP print (-0.6%) in Q2 CY22 (2nd estimates).

* Markets would be closely watching Fed chairs comments at the Jakson Hole Symposium this weekend. For the next week, India’s GDP for Q1 would be released. RBI estimates the growth to be at 16.2%. US non-farm payrolls scheduled to be released next week would also be closely eyed as it has implications on Feds policy actions.

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