Rising oil prices are a concern for the Indian economy but its outlook remains bright after better September monsoons and a retreat in the prices of some key food items, the government said in its monthly economic report on Friday. The comment comes as oil prices rose to 10-month highs earlier this week before easing, […]
Saudi Arabia, the world’s largest crude oil exporter, has announced voluntary output cuts in crude oil in response to a tighter market induced by global central banks’ interest rate hikes and inflationary pressures. These cuts, initially set for this month, now have been extended to include August. Additionally, OPEC+ has agreed to further reduce production […]
With headline inflation based on the consumer price index (CPI) dropping near Reserve Bank of India (RBI) target, manufacturing on revival, Indian economy on a steady upturn, said Deepak Sood, Secretary General, Assocham. In May, India’s CPI inflation moderated to an almost 25-month low to 4.25 per cent as compared to 4.70 per cent in […]
The Kotak Mahindra Bank in a report on Wednesday maintained its financial year (FY) 2024 current account deficit (CAD)/ gross domestic product (GDP) estimate at 1.6 per cent with room for a positive surprise. The report added that the current account pressures in FY2024 are expected to be lower, as weaker global demand along with […]
India’s GDP or gross domestic product may grow 7 per cent in financial year 2022-23, according to the second advance estimates released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. According to the first advance estimates released last month, the GDP growth was pegged at 7 per cent for 2022-23. In financial […]
