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Swadeshi will make economic development sustainable: Maharashtra Governor Maharashtra Governor C. P. Radhakrishnan on Wednesday said that India is aspiring to become a developed nation by 2047.  Stating that the government is providing a strong impetus to ‘Make in India’, he said Swadeshi will make the economic development of the nation sustainable. The Governor was speaking at the 'Entrepreneurship Promotion Programme' on the occasion of World Entrepreneur Day at the World Trade Centre in Mumbai. The programme was jointly organise...
Swadeshi will make economic development sustainable: Maharashtra Governor
Swadeshi will make economic development sustainable: Maharashtra Governor
Source: IANS
2024-08-22 11:41:31 am
Inflation target evades India central bank's rate panel as rejig looms The Indian central bank's rate setting panel faces another food-driven spike in inflation as it meets a final time ahead of the exit of the committee's external members in the first of several scheduled key policymaker changes over coming months. The six-member monetary policy committee (MPC), which includes three central bank officials and three external members, is recast every four years when the government appoints a new set of external members. The reshuffle could change a ...
Inflation target evades India central bank's rate panel as rejig looms
Inflation target evades India central bank's rate panel as rejig looms
Source: IANS
2024-08-07 10:32:24 am
Success in controlling inflation has to be preserved to achieve 4% inflation target on durable basis: Governor Shaktikanta Das Reserve Bank of India (RBI) Governor Shaktikanta Das stressed that the success in controlling inflation has to be preserved and taken forward to achieve a 4 per cent inflation target on a durable basis. He further said the baseline projections show inflation moderating to 4.5 per cent in 2024-25 from 5.4 per cent in 2023-24 and 6.7 per cent in 2022-23.   He said ‘this success in the disinflation process should not distract us from the vulnerability of the inflation trajecto...
Success in controlling inflation has to be preserved to achieve 4% inflation target on durable basis: Governor Shaktikanta Das
Success in controlling inflation has to be preserved to achieve 4% inflation target on durable basis: Governor Shaktikanta Das
Source: Accord Fintech
2024-04-22 12:17:19 pm
India needs rate cuts to reach potential growth, say monetary policy committee (MPC )members Varma, Goyal India needs to cut interest rates to help its economy reach its potential growth but the members of the South Asian nation's monetary policy committee (MPC) are divided on the timing of such cuts, interviews with two external members suggest. "We are in a catch-up growth phase. Growth has to go up in order to create employment and jobs for young people, for the investment cycle to take off, and so on," Ashima Goyal, one of three external members on the six-member MPC, told Re...
India needs rate cuts to reach potential growth, say monetary policy committee (MPC )members Varma, Goyal
India needs rate cuts to reach potential growth, say monetary policy committee (MPC )members Varma, Goyal
Source: Reuters
2024-04-22 11:38:22 am
Rupee weakens marginally against US dollar on Thursday Indian rupee weakened marginally against the US dollar on Thursday, tracking foreign fund outflows in the capital market. Provisional data from NSE showed that foreign institutional investors net sold shares worth Rs 306.56 crore on Wednesday. Some concern also came as the latest payroll data released by the EPFO showed that reflecting a slowdown in the pace of formal job creation, new subscribers added by the Employees’ Provident Fund Organisation (EPFO) declined by 10.1 per cent to 5....
Rupee weakens marginally against US dollar on Thursday
Rupee weakens marginally against US dollar on Thursday
Source: Accord Fintech
2023-11-23 12:04:33 pm
India`s monetary policy must remain `actively disinflationary` - RBI governor India's monetary policy needs to stay focused on slowing inflation, Shaktikanta Das, the governor of the Reserve Bank of India said on Friday, noting the uncertain outlook for food and oil prices."In the current situation, monetary policy must remain actively disinflationary to ensure that ongoing disinflation process progresses smoothly," Das said at an event in New Delhi.India's monetary policy committee kept interest rates unchanged at its meeting earlier this month but signalled that the ...
India`s monetary policy must remain `actively disinflationary` - RBI governor
India`s monetary policy must remain `actively disinflationary` - RBI governor
Source: Reuters
2023-10-20 02:13:38 pm
Indian Central Bank likely selling dollars to keep rupee off record low The Reserve Bank of India is likely selling dollars via state-run banks to ensure that the rupee does not fall to a record low, four traders told Reuters on Monday.The rupee was at 83.2475 against the U.S. dollar, barely changed from its close at 83.2625 in the previous session, despite the weakness its Asian peers and the jump in oil prices.Brent crude oil futures climbed nearly 6% on Friday and were last at $91 per barrel on concerns surrounding the military conflict in the Middle East.The ...
Indian Central Bank likely selling dollars to keep rupee off record low
Indian Central Bank likely selling dollars to keep rupee off record low
Source: Reuters
2023-10-16 11:02:02 am
Despite global headwinds, RBI goes ahead of IMF, pegs growth at 6.5% Even as the International Monetary Fund (IMF) has enhanced India's economic growth projection to a conservative 6.3 per cent for the current fiscal, the Reserve Bank of India (RBI) last week said that the country is poised to become the growth engine of the world, as it retained the GDP projection for 2023-24 at 6.5 per cent.Unveiling the bi-monthly monetary policy review, RBI Governor Shaktikanta Das said on October 6 that the domestic economy exhibits resilience on the back of strong demand...
Despite global headwinds, RBI goes ahead of IMF, pegs growth at 6.5%
Despite global headwinds, RBI goes ahead of IMF, pegs growth at 6.5%
Source: IANS
2023-10-14 05:53:09 pm
FM Nirmala Sitharaman expresses concern over global economic slowdown, seeks reforms in IMF policy Finance Minister Nirmala Sitharaman on Saturday expressed concern over slowdown in global growth, even though she said that India continues to be the fastest growing large economy with growth at 7.8 per cent during the first quarter of 2023-24.She pointed out at the escalating global debt vulnerabilities and the importance of Global Sovereign Debt Roundtable to foster cooperation on debt issues and reforms in IMF policy to engage with members in debt distress.She said this while attending the...
FM Nirmala Sitharaman expresses concern over global economic slowdown, seeks reforms in IMF policy
FM Nirmala Sitharaman expresses concern over global economic slowdown, seeks reforms in IMF policy
Source: IANS
2023-10-14 04:27:48 pm
Crypto roadmap to include monitoring, implementation of regulatory aspects during next G20 presidency: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Friday said that in the next G20 presidency (which will be led by Brazil), crypto roadmap discussions will include monitoring and implementation of regulatory aspects, information sharing, and how it will be taken beyond the G20.Addressing a press conference in Morocco's Marrakesh on the sidelines of the G20 Finance Ministers Central Bank Governors meeting and the IMF-World Bank annual meeting, she said that the G20 FMCBG meeting was mandated to discuss ...
Crypto roadmap to include monitoring, implementation of regulatory aspects during next G20 presidency: FM Nirmala Sitharaman
Crypto roadmap to include monitoring, implementation of regulatory aspects during next G20 presidency: FM Nirmala Sitharaman
Source: IANS
2023-10-14 09:19:43 am
India, Swiss Confederation agree to expedite EFTA, other pacts Finance minister Nirmala Sitharaman on Friday met the head of the federal department of finance of the Swiss Confederation Karin Keller-Sutter, on the sidelines of the 4th G20 Finance Ministers and Central Bank Governors (G20 FMCBG) and the IMF-WB Annual Meetings in Marrakech, Morocco, where both leaders arrived at a mutual agreement to address the remaining issues so as to conclude the India-European Free Trade Association (EFTA), Trade and Economic Partnership Agreement (TEPA) and Bilateral...
India, Swiss Confederation agree to expedite EFTA, other pacts
India, Swiss Confederation agree to expedite EFTA, other pacts
Source: IANS
2023-10-14 09:03:50 am
Inflation levels may remain elevated owing to domestic pressures, global uncertainties: FM Nirmala Sitharaman On the day when India's September retail inflation fell to 5.02 per cent from 6.83 per cent in August, Finance Minister Nirmala Sitharaman on Thursday said that domestic disruptions along with global uncertainties may keep inflation at elevated levels in the coming months.The ongoing Israel-Palestine conflict coupled with the Ukraine-Russia war are a double whammy for global economy. Domestic consumption and investment demand will continue to drive India's growth, Sitharaman said while speaki...
Inflation levels may remain elevated owing to domestic pressures, global uncertainties: FM Nirmala Sitharaman
Inflation levels may remain elevated owing to domestic pressures, global uncertainties: FM Nirmala Sitharaman
Source: IANS
2023-10-13 10:11:24 am
India poised to become new growth engine of the world: Shaktikanta Das Reserve Bank of India (RBI) Governor Shaktikanta Das has said that India is poised to become the new growth engine of the world as the central bank retained the country's GDP growth forecast at 6.5 per cent for 2023-24, notwithstanding the slowing global economy. He said macroeconomic stability and inclusive growth are the fundamental principles underlying a country's progress. He also said ?the policy mix that we have pursued during the recent years of multiple and unparalleled shocks has fo...
India poised to become new growth engine of the world: Shaktikanta Das
India poised to become new growth engine of the world: Shaktikanta Das
Source: Accord Fintech
2023-10-09 12:15:10 pm
Nirmala Sitharaman holds meeting with heads of MDBs, discusses reforms In the run up to 4th G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Marrakech, Morocco, Finance Minister Nirmala Sitharaman on Friday chaired a meeting with the heads of Multilateral Development Banks (MDBs) and co-conveners of the G20 independent expert group, NK Singh.Various issues were discussed on MDBs and the related reforms to better serve the needs of client countries.?During the G20 summit in New Delhi last month, the grouping's leaders had emphasised on reforms ...
Nirmala Sitharaman holds meeting with heads of MDBs, discusses reforms
Nirmala Sitharaman holds meeting with heads of MDBs, discusses reforms
Source: IANS
2023-10-07 10:00:26 am