New Delhi/Mumbai: A booster dose in the form of further rate cut is expected from the Reserve Bank to rekindle economic growth which has been stunted by low demand, receding production and stagnant wages. Economy watchers contend that subdued food prices coupled with growth concerns allows RBI
The Goods and Services Tax (GST) collection for the month of May rose 6.67 per cent to Rs1,00,289 crore from a year ago period staying above Rs1 lakh crore in monthly revenue mop-up.
With the Goods and Services Tax (GST) regime stabilising after a series of rate rationalizations, the focus of the government has now clearly shifted to easing the compliance burden and containing tax evasion.
Goldman Sachs India Securities said India has already attracted $13 billion net foriegn funds so far this year and expects the trend to continue. “India has already attracted net capital inflows of about $13 billion so far this year which contrasts
Adani Group Chairman Gautam Adani has achieved a remarkable milestone amid the COVID-19 pandemic, as he added the highest wealth to his fortune in the world, as per the latest Bloomberg billionaires Index. Adani is now the 26th richest person in the world.
Sustained foreign inflows along with a slew of upcoming IPOs are expected to strengthen the Indian rupee during the week ahead. Accordingly, these factors are expected to push the rupee beyond its current 52 week high mark.
Rising trade deficit along with chances of a populist budget might dampen rupee’s prospects during the coming week. Nevertheless, persistent interest of Foreign institutional investors (FIIs) in India’s equity market will arrest any sharp depreciation moves.
Swelling foreign exchange reserves along with a current account surplus, has aided the Indian rupee to remain broadly stable since mid-March 2020, India Ratings and Research said on Thursday.
India’s foreign exchange reserves rose by $4.344 billion during the week ended April 9. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $581.213 billion from $576.869 billion reported for the week ended April 2.