7% GDP Growth? India’s Economy Defies All Odds
The World Bank upgraded India’s GDP growth forecast by 0.4% to 7% in FY 2025 despite ongoing external economic turbulences, war, and post-pandemic rebound effects. They further mentioned that geopolitical tensions could inflate commodity prices, and resurgent inflation will keep global interest rates high for a long time. The report mentioned, “These risks notwithstanding, medium-term…
JYOTI
Retail Inflation In India Touches 11 Months Low In FY24
As of April 2024, the Indian government’s data shows that retail inflation in India has dipped to an 11-month low, reflecting the country’s most recent economic conditions. It was around 4.83%, slightly lower than the 4.85% recorded in the previous month, but it remained within the tolerance limit of RBI (Reserve Bank Of India), i.e….
Vikas
RBI Begins Quarterly MPC Meeting- Repo Rate To Remain Same
The Monetary Policy Committee or MPC is a committee within the Reserve Bank Of India that is responsible for fixing the benchmark interest rates in India. To do this, the MPC meets at least once every quarter and this quarter MPC meeting has started with the sole aim of tackling the issue of high inflation…
Vishal Prajapati
ADB Retains India’s 6.4% Growth Forecast Amid Recovery Optimism
The Asian Development Bank (ADB) has decided to retain India’s economic growth forecast at 6.4 per cent for the current fiscal year, according to an update to its Asian Development Outlook released on July 19, 2023. The ADB also projected a growth rate of 6.7 per cent for the following financial year. This decision comes…
Gold-Silver Prices Remain Steady After U.S. Inflation
The U.S. dollar is performing a little low and weak compared to other times, impacting the gold-silver price in the global and domestic markets. On the Multi Commodity Exchange (MCX), gold futures began marketing at Rs. 55917.00 per 10 grams, seen as almost 0.55% rise, whereas silver futures started trading at Rs. 65090.00 per Kilogram,…
John David
3M To Cut 6000 Jobs Globally Due to Weak Consumer Demand
On Tuesday, 3M confirmed that it will cut down 6,000 positions globally due to weak consumer electronic demands. This move is expected to affect 4% of the company’s total workforce. According to the company’s annual filing in December 2022, it has over 92,000 employees globally. 3M also recorded a pre-tax saving of $700-900 million upon…
Sumit
India Perseveres On Amidst Global Slowdown
“Headwinds from a slowing global economy are beginning to weigh more on exports,” believes Rahul Bajoria, an economist from Barclays Plc. However, that doesn’t bode well for India, whose exports declined for four months straight. The exports registered a decline of 13.9% in March, while the imports decreased by 7.90% compared to the figures of…
WPI Inflation Rate Dropped 29-Month Low Of 1.34% In March
The Wholesale Price Index (WPI) inflation rate dropped to its 29-month low in March. Due to the moderation in the price of manufacturing goods and commodities, the inflation rate of goods was 1.34% in March from 3.85% in February. As per the data released by the Ministry of Commerce on Monday, the manufacturing items rate…
Federal Reserve To Lift Interest Rates By A Quarter Point
The federal reserve is expected to raise the interest rate by a quarter point on Wednesday. According to the sources, the central bank will release its projection about the economy amid the inflation and bank crisis. Economists believe that the Fed’s decision to raise interest rates comes during uncertainty when the whole country goes through…
Samsung Electronics Appoints New Executive Chairman
Samsung Electronics announced a new executive chairman for the company on Thursday. Jay Y. Lee is the newest face to be crowned as the chairman of the biggest smartphone and memory chip makers in South Korea. This appointment confirms that Samsung is ready to be run by the third generation of its founders. Jay Lee…
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