New Delhi/Bengaluru, June 11 (IANS) Karnataka Chief Minister D.K. Shivakumar on Thursday highlighted the state’s contribution to India’s growth story and called for greater support from the Union Government to strengthen infrastructure, human development and innovation, while addressing the NITI Aayog Governing Council meeting. Speaking on the theme of “Inclusive Human Development”, the Chief Minister said Karnataka’s development model is based on investments in human capabilities, social equi…
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Mumbai, June 5 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Friday unanimously decided to keep the policy repo rate unchanged at 5.25 per cent, in line with the expectations from economists. The Standing Deposit Facility (SDF) rate was set at 5 per cent, while the Marginal Standing Facility (MSF) rate and the bank rate stood at 5.5 per cent.Announcing the decision of the second bi-monthly monetary policy meeting for FY27, held from June 3-June 5, RBI Governor San…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) on Friday projected real GDP growth for 2026-27 at 6.6 per cent — with Q1 at 6.6 per cent; Q2 at 6.3 per cent; Q3 at 6.5 per cent; and Q4 at 6.8 per cent — saying that prolonged global supply chain disruptions, volatility in global financial markets, and weather-related shocks continue to pose downside risks to the domestic growth outlook.India’s manufacturing and services PMI suggest that both sectors continue to be resilient, and busine…
New Delhi, May 18 (IANS) India’s current account deficit (CAD) is likely to be about 2.1 per cent of GDP for FY27, assuming an oil average of $85 per barrel, a report said on Monday.The report from HDFC Bank said elevated crude and a closed Strait of Hormuz pose upside risks to forecast, adding that the recent gold import compression measures could provide some offset.The bank said that raising import duty to curb gold imports could trim the deficit, estimating a 20 per cent decline in gold vo…
New Delhi, May 8 (IANS) India and Canada held detailed discussions across a wide range of chapters, including trade in goods, trade in services, intellectual property, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade as part of the second round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA), according to a joint statement issued by the two countries on Friday.The second round of talks hosted by the Commerce Ministry from …
Washington, April 8 (IANS) India’s economy is projected to grow 7.6 per cent in FY2025/26 before moderating to 6.6 per cent the following year, anchoring South Asia even as regional growth slows to 6.3 per cent in 2026, the World Bank said on Wednesday. The latest South Asia Economic Update said India remains the primary engine of regional expansion, with its growth underpinned by strong domestic demand, trade reforms, and new agreements, including a free trade pact with the European Union….
New Delhi, March 11 (IANS) Strong services exports and steady remittance inflows could help cushion the impact of rising crude oil prices on India’s economy, even as the country remains heavily dependent on imported energy, a report showed on Wednesday.According to the report by DSP Netra, crude oil continues to be one of the most critical variables for India’s macroeconomic stability, particularly as the rupee has weakened recently amid rising global oil prices.India consumes about 5.3-5.5 …
Mumbai, March 6 (IANS) India’s foreign exchange reserves surged by $4.885 billion to an all-time high of $728.494 billion in the week ended February 27, data released by the Reserve Bank of India (RBI) showed on Friday.The previous all-time high for the country’s foreign exchange kitty was $725.727 billion, which was seen in mid-February.Foreign currency assets, a major component of the reserves, stood at $573.125 billion during the week. Expressed in dollar terms, the foreign currency assets …
New Delhi, Feb 16 (IANS) India’s combined merchandise and services exports recorded a 13.16 per cent increase to $80.45 billion in January this year, compared with $71.09 billion in the same month of the previous year, data released by the Commerce Ministry on Monday showed.The country’s merchandise exports rose 0.6 per cent year-on-year to $36.56 billion in January, despite the global economic uncertainties, the data showed.Cumulative exports of both merchandise and services (April–January)…
New Delhi, Jan 6 (IANS) “India’s service sector maintained a strong performance in December,” even as HSBC India Services PMI Business Activity Index eased to 58 from 59.8 in November, 2025, said a report on Tuesday.The index stayed well above the neutral level, as growth continued to be robust. A reading above 50 indicates economic expansion. The December figure was also well above the long-run reading of 55.The report compiled by S&P Global said the rate of expansion in incoming new work a…