New Delhi, May 21 (IANS) The government is actively working to address the sharp depreciation of the Indian rupee against the US dollar, with multiple measures currently under consideration to stabilise the domestic currency, Union Commerce and Industry Minister Piyush Goyal on Thursday said on Thursday.Speaking to reporters on the sidelines of an event here, Goyal said all arms of the government are functioning in coordination to deal with the evolving economic situation.“We are monitoring th…
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New Delhi, May 13 (IANS) Morgan Stanley economists said on Wednesday they forecast India’s real GDP growth at 6.7 per cent in FY27 and 7 per cent for FY28 amid geo-political tensions, adding that the RBI policy measures would likely remain supportive to minimise damage to growth.The West Asia energy shock is most pronounced in quarter ending June 2026, when growth troughs at 6.5 per cent YoY amid elevated commodity prices and lingering supply chain frictions. “Thereafter, as supply-side cons…
Mumbai, May 13 (IANS) Gold and silver prices on Wednesday witnessed a sharp surge of up to 8 per cent after the government more than doubled the import duty on precious metals.On the Multi Commodity Exchange (MCX), gold futures (June 5) advanced as much as 7.20 per cent or Rs 11,055 to touch an intraday high of Rs 1,64,497 per 10 grams as of 9:50 am.The yellow metal was trading at Rs 1,62,728, up 6 per cent or Rs 9,286 from the previous close. Earlier in the session, it had opened at Rs 1,54,851…
New Delhi, May 13 (IANS) The increase in import duty on precious metals is a part of a broader strategy aimed at conserving foreign exchange, protecting the current account, prioritising essential imports, and strengthening India’s economic resilience in the face of evolving global uncertainties, government sources said on Wednesday.The measure represents a balanced, proportionate, and nationally responsible response to extraordinary external conditions while maintaining due regard for macroec…
New Delhi, April 7 (IANS) Global geopolitical tensions are beginning to weigh on India’s economic outlook, but the country is still expected to maintain steady growth as GDP growth expected at 6.2 per cent for FY2027, a report said on Tuesday.The data compiled by Morgan Stanley projected India’s growth, even as rising energy costs, supply disruptions, and external pressures pose fresh challenges.However, it is lower than earlier estimates of 6.5 per cent, the report stated. The downgrade ref…
New Delhi, April 6 (IANS) India’s economic growth is expected to remain resilient in the face of rising global uncertainties, with GDP projected to expand at 6.7 per cent in FY27, a new report said on Monday.While ongoing geopolitical tensions in West Asia may create some challenges, the data compiled by CareEdge Ratings suggested that India’s macroeconomic fundamentals are strong enough to support steady growth.The analysis highlighted that the impact of the West Asia conflict on India will…
New Delhi, March 30 (IANS) India’s GDP growth is expected to moderate to 6.5 per cent in FY2027 because of elevated crude oil prices and concerns around energy availability, a report said on Monday.The report from ICRA said CPI inflation is expected to trend higher at 4.3 per cent in FY27, up from 2.1 per cent in FY26.The RBI Monetary Policy Committee is likely to keep policy rates on pause for an extended period even as growth moderates, it predicted.The Reserve Bank of India may continue to …
New Delhi, March 28 (IANS) Chief Economic Advisor V. Anantha Nageswaran on Saturday said that given the considerable impact of the West Asia conflict on India’s economy, the country should leverage the fallout to redouble its recent reform efforts to enhance India’s competitiveness and preparedness. The ‘entrepreneurial mindset’ in bureaucracy, accompanied by enhanced speed of decision-making, is precisely what is called for if India is to emerge from this episode stronger, more resil…
New Delhi, March 28 (IANS) In a bid to curb speculative trading to cap decline in the Indian rupee, the Reserve Bank of India (RBI) has ordered banks acting as authorised dealers to limit their end‑of‑day open positions in the onshore rupee to $100 million.The domestic currency had slid to fresh lows amid widening trade gaps tied to the US-Israel and Iran conflict.The central bank mandated that commercial banks must implement the daily cap by April 10, adding that the regulator may set diffe…
New Delhi, March 12 (IANS) Global financial services firm Nomura has projected that India’s economy will grow by 7 per cent in fiscal year 2026-27 (FY27), remaining resilient despite rising geopolitical tensions in West Asia and concerns over higher energy prices. However, the brokerage has slightly trimmed its earlier growth estimate while warning that prolonged conflict in the region could put pressure on inflation and the country’s external balance.The report, written by Sonal Varma, Chie…