This is the fourth straight raise by the RBI, which has has now raised rates by a total 190 basis points since its first unscheduled mid-meeting hike in May.
Last week, Fitch Ratings had slashed the country's GDP projection to 7% for current fiscal year citing elevated inflationary levels and higher interest rates.
A new paper by RBI economists highlights the importance of states devising and deploying their own policies in times of crisis when mobility is affected.
In January 1st week, India had forex reserves worth $633 bn, indicating a fall of over $82 billion so far. Forex depletion means RBI's been selling dollars to tackle falling rupee.
CMIE’s consumer sentiments & RBI’s consumer confidence indices show improvement. If initial signs of inflation easing are sustained, consumer confidence will see marked turnaround.
Bihar has lowest own tax revenue, Punjab high committed expenditures, while Rajasthan has deviated from fiscal deficit target. Such states need to balance vote bank & fiscal prudence.
The US House has effectively drawn a line in the sand and approved the release of the Epstein files despite President Trump's efforts to stop it from happening.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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