India’s sobriety and balanced approach has been a complete contrast to Sri Lanka and ranks as one of the better national economic policies anywhere in the world.
While RBI move to allow export/import to be invoiced in Indian rupee will solve some problems, there is no guarantee it will circumvent payment issues with Iran or Russia.
The rupee slid as much as 0.6% on Monday, after having hit a series of recent lows. The benchmark S&P BSE Sensex Index slid about 2.8%, and bonds also declined.
The bearish forecasts stem from a deterioration in India’s external finances. Higher oil prices threaten to widen the current-account deficit to at least 3% of the GDP.
Geopolitical tensions, supply side bottlenecks and post-Covid rise in demand are likely to disrupt inflation calculations. Lack of a clear RBI signal could even affect the rupee.
The currency declined 2.2% this quarter as global funds pulled Rs 30,000 crore of capital out of India's stock market, the most among regional markets where data is available.
India was among the most affected countries when the Federal Reserve slowed down bond purchases in 2013, known as ‘taper tantrum’, which put pressure on the rupee.
Retirement fund body has seen rise in earnings from capital gains from equity. Its earnings are distributed among its subscribers, with EPFO retaining a small surplus.
Yuan Wang 5 is currently 599 nautical miles away from Hambantota, having been at sea for 35 hours since departing the Chinese port of Taicang, according to latest data.
Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.