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New Delhi, Jul 3 (PTI) India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII President Rajiv Memani said on Thursday. Addressing his first press conference after taking over as the CII President, Memani made a strong case for simple three-tiered GST rate structure, with essential items attracting 5 per cent, luxury and sin goods at 28 per cent, and th ...Read More >
Mumbai, Jul 3 (PTI) The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows. Forex traders said the rupee was trading in a narrow range largely due to RBI's cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank ...Read More >
Srinagar, Jul 3 (PTI) The annual Amarnath Yatra began on Thursday with the first batches of pilgrims setting off from the twin base camps in Baltal and Nunwan towards the 3880-metre-high cave shrine in the south Kashmir Himalayas, which houses a naturally formed ice-lingam, officials said. The yatra started early morning from the twin tracks -- the traditional 48-km Nunwan-Pahalgam route and the 14-km Baltal route. The batches of pilgrims, including men, women and sadhus, left from the Nunwan ...Read More >
India's balance of payments (BoP) recorded a $13.5 billion current account surplus in the fourth quarter of fiscal year 2025 (Q4FY25), equivalent to 1.3 per cent of GDP. This surplus, driven by robust services exports and remittances, paints a picture of external sector strength. However, it conceals significant vulnerabilities in merchandise trade, capital inflows, and domestic demand. In fiscal year 2025 (FY25), the current account deficit (CAD) moderated to -0.6 per cent of GDP, an unusual o ...Read More >
Mumbai, July 1 (SocialNews.XYZ) The remittances sent back home by Indians working abroad have registered a 14 per cent rise in the financial year 2024-25 to a record $135.46 billion, according to data compiled by the RBI. The RBI said the inflows, classified under "private transfers", accounted for more than 10 per cent of India's gross current account flows of $1 trillion in FY25. Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to $33.9 billion i ...Read More >
Mumbai, June 29 (SocialNews.XYZ) Major factors, including auto sales figures, PMI data, Foreign Institutional Investor (FII) activity, and international economic updates, are expected to drive the Indian stock market this week. According to Bajaj Broking Research, several important economic data releases are scheduled between June 30 and July 4 in both India and the United States. India's industrial production data for the month of May will be released on June 30, which will offer insights int ...Read More >
Gold Rate in India Today: The price of gold in India continued its downward trajectory and brought cheers among gold jewellery buyers. Falling gold rate in India today is a reflection of consolidating international prices of the bullion amid easing geopolitical tensions and improving trade prospects. Gold Rate in India today has plunged to its 10-day low mark of Rs 97,420 per 10 gram amid easing tensions between Israel and Iran. The precious metal prices jumped phenomenally over the past few da ...Read More >
Bengaluru: Karnataka Chief Minister Siddaramaiah on Friday said the quality of police investigation has decreased and it needs to be improved. "Although it is a matter of relief that the crime rate in the state has decreased, the quality of police investigation has decreased, and this needs to be improved," Karnataka CM said. He gave these instructions after holding a meeting of senior police officers and a progress review meeting of the police department at the office of the State Director Ge ...Read More >
Top News 1. India posts strong current account surplus, signals robust economic fundamentals India recorded a current account surplus of USD 13.5 billion (1.3% of GDP) in Q4 of FY25, marking the first surplus in four quarters and showcasing the country's strong external position. This positive development was driven by record-high services exports and robust remittance inflows, which together reinforced the resilience of India's external sector. For the full fiscal year FY25, the current accou ...Read More >
Mumbai: The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets. Lower level of American currency index also favoured the Indian unit though an uptrend in crude oil prices capped its gain, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 1,397.02 crore on a net basis on Friday, according to exchange data. This inflow came on the heels of a net buying of equi ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in ...Read More >
New Delhi: India's current account balance recorded a surplus of USD 13.5 billion (1.3 per cent of GDP) in January-March quarter of 2024-25 as compared with USD 4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said on Friday, as reported by news agency PTI. There was a deficit in current account of USD 11.3 billion (1.1 per cent of GDP) in December quarter of 2024-25. ...Read More >
Mumbai, June 27 (SocialNews.XYZ) India recorded a current account surplus of $13.5 billion, constituting 1.3 per cent of GDP, in the fourth quarter of financial year 2024-25 (January-March), according to data released by the Reserve Bank of India (RBI) on Friday. The robust performance has reversed the current account deficit of $11.3 billion (1.1 per cent of GDP) in the preceding third quarter (October-December) of 2024-25. It also represents a more than two-fold increase from a surplus of $4. ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in ...Read More >
Mumbai, Jun 27 (PTI) India's current account balance recorded a surplus of USD 13.5 billion (1.3 per cent of GDP) in January-March quarter of 2024-25 as compared with USD 4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said on Friday. The current account was in deficit of USD 11.3 billion (1.1 per cent of GDP) in December quarter of 2024-25. On annual basis, India had a current account deficit at USD 23.3 billion (0.6 per cent of GDP) during 2024-25, lower than USD 26 billion (0. ...Read More >
Mumbai, Jun 27 (PTI) India's current account balance recorded a surplus of USD 13.5 billion (1.3 per cent of GDP) in January-March quarter of 2024-25 as compared with USD 4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said on Friday. The current account was in deficit of USD 11.3 billion (1.1 per cent of GDP) in December quarter of 2024-25. Also Read | Ahmedabad Plane Crash Probe: Parliamentary Committee To Grill Boeing and Air India Executives, DGCA Officials; Sources Say 'Mult ...Read More >
New Delhi, Jun 7 (PTI) India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to USD 3 per day. Given India's inflation rate between 2017 and 2021, a revised extreme poverty line of USD 3 would constitute a 15 per cent higher threshold than USD 2.15 expressed in 2021 prices and result in a 5.3 per cent poverty rate in 2022-23, the World Bank said in a report. Also Read | ICU Hor ...Read More >
New Delhi, Jun 7 (PTI) India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to USD 3 per day. Given India's inflation rate between 2017 and 2021, a revised extreme poverty line of USD 3 would constitute a 15 per cent higher threshold than USD 2.15 expressed in 2021 prices and result in a 5.3 per cent poverty rate in 2022-23, the World Bank said in a report. In India, the repor ...Read More >
New Delhi, June 7 (SocialNews.XYZ) The Reserve Bank of India (RBI) has chosen to frontload its rate cuts, turning to support growth amid benign inflation prospects, according to a Crisil report, which expects one more repo rate cut this fiscal (FY26), and a pause after that. The global ratings agency also expects India's GDP at 6.5 per cent this fiscal, with risks on the downside due to US tariff hikes. Crisol listed some factors which are expected to help domestic growth hold up against globa ...Read More >
New Delhi: The Reserve Bank of India (RBI) has chosen to frontload its rate cuts, turning to support growth amid benign inflation prospects, according to a Crisil report, which expects one more repo rate cut this fiscal (FY26), and a pause after that. The global ratings agency also expects India's GDP at 6.5 per cent this fiscal, with risks on the downside due to US tariff hikes. Crisol listed some factors which are expected to help domestic growth hold up against global tariff risks. "Positi ...Read More >
NEW DELHI: Global oil prices continued their rally to jump past $81 per barrel on Monday -- the highest since August 2024 -- on fear of latest US shipping sanctions impeding flow of Russian barrels, leading to a scramble for Middle-East/US crude and tankers. The rally is bound to put fuel retailers back in the wait-and-watch mode, dashing hopes of a fuel price cut as costlier crude and the weakening Rupee erode margins. Expectations of a reduction in petrol and diesel prices had grown on report ...Read More >
Ulan Bator: Mongolia's economy is projected to grow by 5.3 per cent in 2024 and 6.5 per cent in 2025, driven by robust mining production and domestic demand, according to the World Bank's latest semi-annual Mongolia Economic Update on Friday. Economic growth in Mongolia remained steady at 5.7 per cent year-on-year during the first half of 2024, with high-frequency data indicating continued momentum into the third quarter, Xinhua news agency reported. The World Bank attributed this solid perfor ...Read More >
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