FPIs typically prefer advanced economies in times of sharp volatility and uncertainty in the overall financial markets. So far in 2022, FPIs sold equities worth Rs 221,454 crore, data showed.
The PLI scheme aims to provide nearly Rs 2.4 lakh crore worth of incentives over the next five years, with the lion’s share going to electronics, auto components, and pharma.
Addressing the industry leaders, Bajaj said the rate rationalization exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a ”fetish” to raise the tax rates to the revenue-neutral level of 15.5 percent.
According to the RBI’s data, India’s foreign currency assets, which are the biggest component of the forex reserves, rose $2.334 billion to $529.216 billion during the said week.
Citing a survey, the report said regulators/supervisors globally are aiming to strike a balance between risks and benefits from the entry of Big techs into the financial domain.
The June PMI data pointed to an improvement in overall operating conditions for the twelfth straight month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
On Wednesday, housing brokerage firm PropTiger released its data, which showed that sales jumped over 4.5 times year-on-year in April-June across eight cities at 74,330 units, while demand was up 5 percent from the previous quarter.
The RBI, earlier this month, up the average inflation projection for the ongoing fiscal by 100 basis points to 6.7 percent.
The Investors’ Meet was jointly organized with industry body FICCI and the Embassy of India in UAE on Wednesday.
TIFAC is an autonomous organization set up in 1988 under the Department of Science & Technology to look ahead in the technology domain, assess the technology trajectories, and support innovation.
Prime Minister will launch the ‘Raising and Accelerating MSME Performance’ (RAMP) scheme, with an outlay of around Rs 6,000 crore.
As per the RBI monetary policy review announced earlier this month, Consumer Price Index (CPI) based retail inflation is projected to remain 7.5 per cent in the first quarter of the current financial year.
The high merchandise trade deficit coupled with the fund outflow from financial markets has weakened India’s external account or balance of payment position.
Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit.
Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy have led investors to reconsider what they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers.
Reacting to the remarks, Chidambaram said the ”goal of a USD 5 trillion GDP appears to be a case of ‘shifting goalposts”’.
The Reserve Bank of India (RBI) lifted its policy repo rate by 90bp to 4.90 per cent in just over a month, signalling its growing concerns that inflation could exceed its 2 to 6 per cent target band for a sustained period.
The six-member Monetary Policy Committee (MPC) today voted unanimously to increase the policy repo rate by 50 basis points to 4.90 percent with immediate effect.
Inflation has been above the RBI’s 2-6 per cent target band since the beginning of this year.As per the latest available data, India’s Consumer Price Index (CPI) based inflation surged to an eight-year high of 7.79 per cent in April.
Governor Das-headed MPC will meet for three day beginning Monday. The decision taken during the meeting will be announced by the governor on Wednesday.
Last month, in its off-cycle monetary policy review the central bank hiked the policy repo rate by 40 basis points or 0.40 per cent.
As per official data, the economy grew by 8.7 percent in FY22, net adding Rs 11.8 lakh crore in the year to Rs 147 lakh crore, the report said, adding this was however only 1.5 percent higher than the pre-pandemic year of FY20.
According to the data of the commerce ministry, in 2021-22, the bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21.
In its annual report, the RBI said that the cost-push pressures from high industrial raw material prices, transportation costs and global logistics, and supply chain bottlenecks continue to impinge on core inflation.
At the interbank forex market, the domestic unit opened at 77.69 against the US dollar. It moved in a range of 77.51 to 77.69 during the session.