Retail inflation in India eased a tad in February to 5.09 per cent from 5.10 per cent the prior month. It was at a four-month high of 5.69 per cent in December. The retail inflation in India though is in RBI‘s 2-6 per cent comfort level but is above the ideal 4 per cent scenario. … Read more
New Delhi: India will become the third largest economy by FY28, two years earlier than projected, said SBI Research economists in a note on Thursday. “The Indian economy continues to enjoy a period of sustained goldilocks,” SBI Research economists said, pointing out that India will surpass Japan and Germany at the current growth rate and … Read more
Lower rice sowing due to deficient rains, coupled with increasing global prices, may end up pushing up inflation, economists said. Rice accounts for 4.4% of the Consumer Price Index basket, whereas the main staple, arhar or tur, which has also witnessed a reduction in acreage, has a 0.8% weight in retail inflation. Their combined share … Read more
The Reserve Bank of India is likely to announce another rate hike on Thursday, following the bi-monthly review of its monetary policy. RBI Governor Shaktikanta Das is set to address the press at noon tomorrow, with the Monetary Policy Committee having met on April 3 and April 5, with one more day of deliberation set … Read more
SBI Research on Friday said that India’s current account deficit in the current fiscal may reach a decade high even as the country’s export growth could be sustained. India recorded a CAD of 1.2% of GDP in April-December 2021. “FY23 will be a challenging year since as per our estimates, CAD will breach the 2.5% … Read more
The digitisation drive and pandemic-induced emergence of the gig economy have led to a faster formalisation of the economy, with the share of the informal sector shrinking to just 15-20 per cent in 2021 from 52.4 per cent in 2018, according to an SBI Research report. Share of the informal economy has fallen drastically to … Read more
India’s growth in the ongoing fiscal was expected at a lower 10.4% compared to 11% earlier on account of the increasing restrictions across states, according to State Bank of India (SBI) Research. Ramping up Covid-19 vaccination efforts rather than lockdowns would be the preferred way to thwart the surging second wave of the pandemic in … Read more