Growth slips: Slowdown in farm, manufacturing push India’s GDP growth down to 6.6%

Growth slips: Slowdown in farm, manufacturing push India’s GDP growth down to 6.6%

With manufacturing, agriculture and small services faltering and government spending slowing, India’s gross domestic product (GDP) grew at a five-quarter low rate of 6.6% in the September-December period (Q3) of the current fiscal, official data revealed on Thursday.The Central Statistics Office (CSO) also revised down the growth rates for Q1 (from 8.2% to 8%) and […]

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India-US trade talks skirt vexed issues including tariff on steel

India-US trade talks skirt vexed issues including tariff on steel

India and the US on Thursday pledged to further boost bilateral trade and investments, as key policymakers and industrialists of both the sides huddled for a commercial dialogue and CEO forum meeting here.However, sources told FE that contentious issues —including India’s concern about the extra tariff levied on steel and aluminium supplies and tightening of […]

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Minding Growth: RBI cuts repo rate by 25 bps — check new rates and inflation forecast

Minding Growth: RBI cuts repo rate by 25 bps — check new rates and inflation forecast

Indicating a greater willingness under new governor Shaktikanta Das to address the objective of growth while being tenacious to the inflation-targeting framework, the Reserve Bank of India (RBI) on Thursday unexpectedly lowered the repo rate by 25 bps to 6.25%, simultaneously enabling with a shift in the monetary policy stance to ‘neutral’ fro‘calibrated tightening’.A 4-2 […]

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Difficult for Modi government to maintain 3.4 per cent fiscal deficit in FY 2020: Moody’s

Difficult for Modi government to maintain 3.4 per cent fiscal deficit in FY 2020: Moody’s

The government will find it difficult to meet the fiscal deficit target of 3.4 per cent in 2019-20 on account on higher spending and low revenue growth, Moody’s Investors Service said. Observing that Indian government’s debt is “stubbornly high” as a percentage of GDP, Moody’s Investors Service Managing Director, Sovereign Risk Group, Gene Fang said […]

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India Inc foreign borrowing trebles to USD 3.81 billion in December

India Inc foreign borrowing trebles to USD 3.81 billion in December

Foreign borrowing of Indian companies nearly trebled from the year-ago period to USD 3.81 billion in December 2018, according to data from the Reserve Bank of India. Of the total fundraising during last month, USD 3.77 billion was mobilised through external commercial borrowings (ECBs) in the foreign markets, while USD 37.04 million was through rupee-denominated […]

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Wage growth: India recorded highest average growth in South Asia, says ILO report

Wage growth: India recorded highest average growth in South Asia, says ILO report

India recorded the highest average real wage growth in South Asia during 2008–17, according to a report by the International Labour Organisation (ILO). Reflecting more rapid economic growth than in other regions, workers in Asia and the Pacific have enjoyed the highest real wage growth among all regions over the period 2006–17, with countries such […]

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Government, RBI reach truce in much awaited board meet; 9 key points to know from those 9 crucial hours

Government, RBI reach truce in much awaited board meet; 9 key points to know from those 9 crucial hours

After an unprecedented power tussle over the last few weeks, government and RBI, in a 9-hour long board meeting on Monday, appeared to have reached a common ground on providing relief to MSMEs and easing lending restrictions on a few public sector banks. The marathon meeting between both parties ended on a conciliatory note, as […]

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