RBI Monetary Policy Highlights: From announcing the repo rate, GDP, Inflation forecast data to laying out additional measures such as trading of SGBs in IFSC, mobile app for RBI's Retail Direct Scheme, enabling UPI for cash deposit facility and more, here are the top 10 key takeaways from Shaktikanta Das speech.
They (foreign investors) are encouraged by data suggesting the strength of the economy as is visible in the growth in GST collections month-on-month, advance tax payouts and power & energy consumption, she said. According to official figures, GST collections in March grew 11.5 per cent to Rs 1.78 lakh crore on higher domestic sales.
They (foreign investors) are encouraged by data suggesting the strength of the economy as is visible in the growth in GST collections month-on-month, advance tax payouts and power & energy consumption, she said. According to official figures, GST collections in March grew 11.5 per cent to Rs 1.78 lakh crore on higher domestic sales.
The matured DPIs enabled a value creation of $31.8 billion, equivalent to 0.9 per cent of India's GDP in 2022, according to a Nasscom-led study that came out last month. India's interoperable and open-source DPIs are now being adopted or considered by over 30 countries to enhance social and financial inclusion.
Remittances are a source of permanent flows, unlike repatriable NRI deposits, and these help in narrowing the current account deficit (CAD), which has steadily shrunk as a percentage of India's gross domestic product (GDP). The bulk of these remittances are going toward family needs, while a portion is also invested in other assets such as deposits, showed an RBI survey on remittances.
Remittances are a source of permanent flows, unlike repatriable NRI deposits, and these help in narrowing the current account deficit (CAD), which has steadily shrunk as a percentage of India's gross domestic product (GDP). The bulk of these remittances are going toward family needs, while a portion is also invested in other assets such as deposits, showed an RBI survey on remittances.
To be sure, remittances are a source of permanent flows, unlike repatriable NRI deposits, and these help in narrowing the current account deficit (CAD), which has steadily shrunk as a percentage of India's gross domestic product (GDP).
The 16th Finance Commission chairman attributed India's progress to Prime Minister Narendra Modi's efforts in creating a conducive environment for businesses, leading to increased investments.
According to the latest findings from the State Bank of India (SBI) Research, out of the 235 basis point (bp) growth, Maharashtra and Uttar Pradesh emerged as frontrunners, contributing 56 and 40 bps respectively, while the remaining 90 bps stemmed from other states. While some states such as Uttar Pradesh, Chhattisgarh, Bihar, and Madhya Pradesh have maintained stable per capita income growth trajectories, others like Jharkhand, Rajasthan, West Bengal, Maharashtra, Punjab, Delhi, and Goa have experienced deceleration in this aspect.
Net FDI inflow at USD 8.5 billion during April-December 2023 was lower than USD 21.6 billion during April-December 2022, it said.
Fed Chair Jerome Powell's outlook for price pressures was steady even after the unexpected strength in recent inflation data. The U.S. central bank revised its projections for the GDP and core personal consumption expenditure upwards for the October-December period and still retained three rate cuts. Read on to know more:
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