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Updated: 2 hours 43 min ago

States, Union Territories plans to borrow up to Rs 2.5 trn in Q1FY25

2 hours 46 min ago
In the first quarter of the financial year 2023-2024, states had borrowed 84 per cent of the notified amount of Rs 1.9 trillion

Govt's gross liabilities rise to Rs 160.69 trillion at Dec-end: FinMin

3 hours 15 min ago
Total gross liabilities of the government increased marginally to Rs 160.69 lakh crore at the end of December 2023 from Rs 157.84 lakh crore at September-end, the finance ministry said on Thursday. This represented a quarter-on-quarter increase of 1.8 per cent in the September quarter of 2023-24, said the public debt management quarterly report (October-December 2024). Public debt accounted for 90 per cent of total gross liabilities during the third quarter of the current fiscal year. "During the quarter, the yield on Indian domestic bond initially rose but softened thereafter on account of decline in crude oil prices, lower than expected domestic CPI prints for October and November and news about possible inclusion of Indian Government Bonds (IGBs) in a major global emerging market index," the report said. Further, an ultra-long 50-year G-sec was introduced to cater to the demand from long-term investors. On the other hand, US treasury yields remained volatile during the quarter .

Must decentralise power from states to local authorities: Ahluwalia

3 hours 17 min ago
At Business Standard Manthan, Arvind Subramanian said that to reduce the gap, there needs to be a renegotiation of social contracts in agriculture and fiscal federalism

India's Apr-Feb fiscal deficit at Rs 15.01 trn, hits 86.5% of FY24 target

3 hours 24 min ago
The Centre's fiscal deficit is estimated at Rs 17.34 trillion for FY24

India set for strong economic rebound seen in 2000s: RBI Dy Guv Patra

4 hours 7 min ago
While private consumption remains pivotal, the economic resurgence will be fuelled by investments and exports, said Michael Debabrata Patra

Banks set to gain as bond yields soften by 14 bps in last quarter FY24

4 hours 33 min ago
Market participants said that the yields fell in FY24 on the back of foreign inflows and favourable demand-supply dynamics over the year

Fiscal deficit at Feb-end touches 86.5% of full-year target: Govt data

7 hours 51 min ago
The government's fiscal deficit at Rs 15 lakh crore touched 86.5 per cent of the revised annual target at the end of February, according to official data released on Thursday. In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 82.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23. For 2023-24, the government's fiscal deficit is estimated at Rs 17.35 lakh crore or 5.8 per cent of the GDP. The government's total receipts stood at Rs 22.45 lakh crore (81.5 per cent of corresponding RE 2023-24 of total receipts) as of February 2024, according to the data released by Controller General of Accounts (CGA). The total expenditure incurred by the Centre was Rs 37.47 lakh crore (83.4 per cent of corresponding RE 2023-24).

Indian economy can grow at 8% till 2047, reforms are key: IMF's Subramanian

10 hours 31 min ago
Indian economy can grow at 8 per cent till 2047, if the country can redouble the good policies that it has implemented over the last 10 years and accelerate reforms, India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said on Thursday. Subramanian further said that clearly 8 per cent growth target is ambitious, because India has not grown consistently at 8 per cent before, but it is achievable. "So, the basic idea is that with the kind of growth that India has registered in the last 10 years, if we can redouble the good policies that we have implemented over the last 10 years and accelerate the reforms, then India can grow at 8 per cent from here on till 2047," he said at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the final three months of 2023, logging the fastest pace in the past one-and-a-half years. The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per

BS Manthan: Reforms momentum will continue, says FM Nirmala Sitharaman

Wed, 03/27/2024 - 14:38
From tariffs and Centre-state relations to how she unwinds, Sitharaman covered a vast ground at BS summit; Union Minister Ashwini Vaishnaw spoke on the steps towards India becoming a product nation

CRISIL SME Tracker: Textile revenue to rebound after 2 years of contraction

Wed, 03/27/2024 - 13:40
The cotton prices are likely to remain stable as cotton consumption continues to be lower than production, supporting the cost competitiveness of the cotton textile value chain

RBI provides breather on in alternative investment fund investments

Wed, 03/27/2024 - 11:52
RBI said that its regulated entities (REs) will now be required to make provisioning only to the extent of the amount invested by the AIF scheme in the debtor company and not the entire investment

RBI's likely intervention in forex market helps rupee to avoid a new low

Wed, 03/27/2024 - 11:34
According to RBI data, India's foreign exchange reserves were at $642.49 billion as of March 15, 2024

Govt plans to borrow 53% of full-year target in the first half of FY25

Wed, 03/27/2024 - 10:41
The gross borrowing in the first six months of the upcoming financial year stands at Rs 7.50 trillion, out of the total borrowing target of Rs 14.13 trillion for FY25

Oil prices fell for second day on Wednesday on surging U.S. stockpiles

Wed, 03/27/2024 - 09:52
OPEC+ this month agreed to extend output cuts of about 2.2 million barrels per day (bpd) to the end of June, though Russia and Iraq have had to go to extra lengths to tackle over-production

Growth of 7% perfectly good unless external enviorment improves: Sanyal

Wed, 03/27/2024 - 09:36
India should be satisfied with the current growth rate unless the external environment improves, Member of Economic Advisory Council to the PM, Sanjeev Sanyal, said on Wednesday, terming economic expansion in the range of 7 per cent perfectly good. Sanyal further said it was necessary to protect the hard-earned macroeconomic stability. "Now look, it is possible for us to hit double-digit growth, but I would actually be rather careful about it. This whole game is about compounding growth," Sanyal said while speaking at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the final three months of 2023, logging the fastest pace in the past one-and-a-half years. The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per cent. "We should not attempt to grow this economy by anything more than what it is growing now. "If the external environment does not dramatically improve, because what will happen then, is that our ...

RBI releases MPC schedule for FY25, first interest rates decision on Apr 5

Wed, 03/27/2024 - 09:25
The Reserve Bank of India (RBI) on Wednesday announced the schedule for the bi-monthly monetary policy committee meetings for the new fiscal. The first meeting will be held from April 3-5, while the next will start on June 5, as per an official statement. Typically, the six-member panel votes on a resolution on the third day of the meeting and the governor announces the decision in the first half of the day after the vote is completed. The first two days of the meeting are devoted to deliberations and presentations by subject matter experts to the panel. The second bi-monthly policy review meeting will end on June 7, the statement said, adding that this will be followed by three-day meetings in August, October, December, and February. The six-member panel headed by the governor has three external members. It can be noted that Shaktikanta Das' term as the RBI Governor is set to end in December this year. The MPC has been consistent in holding on to the elevated interest rates and

India will become a product nation in PM Modi's next term: Vaishnaw

Wed, 03/27/2024 - 08:36
At Business Standard Manthan, Ashwini Vaishnaw said that the Centre would create a policy framework for the Global Capability Centres

India can push growth close to 9% by implementing more reforms: Panagariya

Wed, 03/27/2024 - 08:02
India can realistically push its economic growth close to 9 per cent from the current 7 per cent or so, by implementing a few more reforms in the next five years, Chairman of the 16th Finance Commission Arvind Panagariya said on Wednesday. Panagariya said Prime Minister Narendra Modi worked hard over the past 10 years to make India a friendly place for businesses, so investment is coming in. "Today, the economy is open. In the next 2-3 decades, we can sustain a very rapid growth," he said, while speaking at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the third quarter of FY24 -- the fastest in the past one-and-a-half years. "India is currently growing in real rupees at about 7 per cent or so per year. "Certainly with a few more reforms in the next five years, we can realistically push it to close to 9 per cent, certainly somewhere at 8-9 per cent and that can be sustained easily for a couple of decades," the economist said. Responding to a .

Tariffs not a permanent stance of our government: FM Nirmala Sitharaman

Wed, 03/27/2024 - 07:11
At Business Standard Manthan, Sitharaman said that in matters of economy, the differences between Centre and States must not arise on the grounds of politics

Morgan Stanley raises India's GDP growth forecast for FY25 to 6.8%

Wed, 03/27/2024 - 06:31
Morgan Stanley expects India's GDP growth to remain robust, with an anticipated growth rate of around seven per cent in the fourth quarter of FY24

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