India's forex reserves have been consistently depleting for the past few months, on account of RBI's likely intervention in the market to defend the depreciating rupee.
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.
While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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