
India's GDP outlook ‘bright’; 6.5% growth expected in FY24: FinMin
FinMin says it remains “comfortable” with a 6.5% real GDP growth estimate for FY24, with symmetric risks; forecast aligns with RBI’s GDP estimates
FinMin says it remains “comfortable” with a 6.5% real GDP growth estimate for FY24, with symmetric risks; forecast aligns with RBI’s GDP estimates
Negative rate of wholesale inflation primarily attributed to fall in prices of mineral oils, basic metals, chemical & chemical products, textiles, and food products
Retail inflation falls to 7.02% in rural areas from 7.63% in July, while it drops to 6.59% in urban areas from 7.20% in previous month
Indian oil majors, which turned profitable in the summer last year, are in a position to reduce domestic prices, says MPC member Ashima Goyal
Global supply chains are under pressure, which along with rising global commodity prices have contributed to “multi-decadal high inflation” in 2022, says Shaktikanta Das
It may be noted that headline retail inflation in the economy spiked to 7.4% in July 2023, with specific food commodities mainly driving the increase.
In July 2023, though growth prospects have been strong, inflationary pressures have "re-emerged", says the finance ministry in the latest monthly economic review
The report comes amidst soaring prices of vegetables and fruits in the past few weeks, owing to supply-chain constraints and weather-related disruptions.
Urban inflation rose to 6.1% in February from 6% in January while rural inflation declined to 6.72% in February from 6.85% in January.
Within the food inflation, vegetable prices fell the most, with the index down 12.7% in December 2022 compared to November 2022.