The Economic Survey, which is released on the eve of the Union Budget, projects that India’s GDP will grow at 6% to 6.8% in 2023, though the inflation forecast of 6.8% by the Reserve Bank of India remains a cause of concern.
The overall consumer price index (CPI) inflation increased to 7% in August largely driven by consumer food prices. A report brought out by the State Bank of India said that both Rural and Urban CPI surged in August as compared to July,
India’s industrial output grew 12.3% in June, moderating from 19.6% this May, led by a 16.4% uptick in electricity and 12.5% growth in manufacturing. Mining activity grew 7.5% in the month. The Index of Industrial Production (IIP), however, grew only 0.14% over
Extreme weather, the COVID-19 pandemic, lockdowns in China, and Russia’s invasion of Ukraine combined this year to distort global supply chains and send prices soaring. High inflation is troubling because rising prices erode purchasing power and add to input costs. In 2022,
India’s retail inflation, based on Consumer Price Index (CPI) dropped marginally to 7.01% for the month of June as compared to 7.04% percent in May. However, food prices are expected to remain high as inflation rate of vegetables shot up by 17.37%,
Credit rating agency Moody’s Investors Service has said that as a result of rate hikes by central banks, it expects banks in India, Saudi Arabia and Indonesia will see increases in their return on assets as net interest margins widen, while credit
India’s inflation based on the Wholesale Price Index (WPI) rose further to 15.08 percent in April from 14.55 percent in March, according to data released by the commerce ministry on May 17. The rise in wholesale inflation in April comes after data released
Writing in the monthly economic review report for April, the union finance ministry has said, the poor were hurt less by higher prices in FY22 as compared to the rich. In FY22, inflation for the bottom 20 percent of urban consumers fell
The much-anticipated post-Covid-19 party is over before it could even begin. The dance floor is likely to remain empty in the foreseeable future and the music that started fading out long before the pandemic struck the Indian shores has now stopped playing.
The world economy will grow less than expected this year, mainly due to a slowdown in the world’s two biggest economies i.e. the United States and China, while global inflation will be higher and more persistent, according to the latest forecasts from