Reserve Bank of India (RBI) Governor Shaktikanta Das has said the gross fiscal deficit has adhered to budgetary targets, and that the current account deficit is expected to be around 2.5 per cent of the GDP in 2018-19. Das said this earlier this week while speaking at the “Governor Talks”
India’s foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $420 billion from $418.687 billion reported for the week ended May 3.
Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with its stance and further lower the repo rate, which will in turn reinvigorate consumer
Credit rating agency Moody’s on Tuesday said the new liquidity requirement for non-bank finance companies announced by the RBI is credit positive since it will reduce their risk due to liquidity shortfall that could disrupt their ability to collect
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.