RBI retained its projection of 6.5% growth, but highlighted global uncertainty, particularly due to renewed tariffs from July & volatility in commodity prices as risks to growth outlook.
India's growth post-1970 outpaced both low and middle-income countries, as well as the world economy. Yet, it has not been a “shining” record, because of poor socio-economic metrics and rising inequality.
IMF has raised India’s growth projections for current and next 2 financial years. Yet, results of major FMCG companies, and govt’s own data, shows public consumption remains subdued.
Conflict in the Middle East could upset assumptions & forecasts and, if it escalates, disrupt the oil markets. For India, it could raise worries on inflation, put pressure on the rupee.
Strong domestic demand amidst high commodity prices will raise total import bill and contribute to unfavourable developments in the current account balance, warns report.
The IMF in July had projected a gross domestic product growth of 7.4 per cent in the year starting April 2022. In January, it had predicted 8.2 per cent.
IMF slashes India's growth forecast by 3 percentage points in July World Economic Outlook report from April forecast of 12.5%, but raises 2022-23 forecast to 8.5%.
The RBI’s Monetary Policy Committee Thursday stunned economists and market analysts by retaining the key interest rate at 5.15 per cent after pushing through five consecutive rate cuts since February.
RJD’s candidates from EBCs have declined from 13.13 per cent to 11.19 per cent. This could be because the party saw the lowest strike rate among EBC candidates in the 2020 Bihar Assembly polls.
Research paper, however, finds lowest indebtedness level among Muslims at 12.3% & highest among Hindus at 14.9%. Overall national financial inclusion level at 87.2%, indebtedness at 14.7%.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
On 21 Oct, a buzz went up that the govt had released full list of gallantry award recipients along with Op Sindoor citations. I put an AI caddy on the job. It took me into a never-ending rabbit hole.
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