While alignment with the inflation target is gradually occurring, incoming data will provide greater clarity and confidence on the disinflation path, the RBI said.
Restrictive interest rates expected to weigh on demand, regulatory actions aimed at controlling unsecured lending, & lower fiscal deficit to contribute to the moderation, says report.
Apart from these factors, in the new year, food prices will continue to be vulnerable to global uncertainties & weather events, while household borrowings from banks will remain steady.
Reuters had estimated the wholesale price index for September would rise 0.5%. It fell 0.52% in August. Last week, data showed India’s retail inflation eased to 3-month low in September.
After a 7.8% expansion last quarter, economic growth was expected to moderate to 6.4% this quarter and then drop to 6.0% innext quarter before slowing to 5.5% in early 2024.
Food price inflation rose to 11.5% in July, its highest in more than 3-1/2 years, while India is set to receive its sparsest monsoon rains in eight years.
The ‘Mood of the Nation’ survey said Modi is far ahead of Rahul Gandhi with a 36-point lead as the candidate best-suited to be the next prime minister if elections are held now.
Mineral security is no longer just an economic concern but a national security imperative, underpinning the country’s ambitions in clean energy, defence self-reliance, and advanced manufacturing.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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