Gita Gopinath speaks during a news conference in Washington. File/Reuters
Although India’s economic growth rate has been cut to 6.1 per cent for the current fiscal year, it still remains “very strong” by global standards, International Monetary Fund’s (IMF) Deputy Research Director Gian Maria Milesi-Ferreti said.
Finance Minister Nirmala SItharaman has said a calibrated and balanced approach to deploying a mix of fiscal, monetary and structural measures by countries can help achieve their growth potential and asked the IMF
News from the economic front is a mixed bag. By all accounts the immediate outlook is bad. But the chances of an early recovery are said to be bright.
Lufthansa announces a 20% cut in leadership positions and the reduction of 1,000 administrative jobs,
Following a Monday slide, the greenback was steady on most majors and clung on near a two-week low against a basket of currencies , tracking the mood in equity markets.
By category, production of machine tools were up 27.6 per cent on the month, intermediate goods stagnated at 0.1 per cent and consumer goods were up slightly at 1.4 per cent, the Destatis official statistics agency said.