![]() ![]() The full-year borrowing target has been cut to Rs 14.21 lakh crore, from Rs 14.31 lakh crore as spelt out by the Budget for 2022-23. ![]() The central government has marginally lowered its market borrowing target for financial year 2022-23 amid robust tax revenues. Govt cuts FY23 borrowing marginally, to sell Rs 5.92 lakh crore of bonds in October-March Underlying the current account deficit in April-June was the widening of the merchandise trade deficit to $68.6 billion from $54.5 billion in January-March and an increase in net outgo of investment income payments, the RBI said in the release. In percentage terms, the CAD in April-June 2022 was 2.8 percent of GDP, up from 1.5 percent of GDP the previous quarter. The current account had recorded a surplus of $6.6 billion in April-June 2021. India's current account deficit (CAD) widened to $23.9 billion in April-June from $13.4 billion in January-March, according to data released by the Reserve Bank of India (RBI) on September 29. India's current account deficit widens to $23.9 billion or 2.8% of GDP in April-June The RBI would want to bring back inflation within its tolerance band at the earliest, which could justify rate hikes at this stage. Inflation, they said, has remained stubbornly above the 6 percent mark, warranting aggressive rate action. Against the backdrop of high inflation, all 20 economists polled by Moneycontrol estimated a rate increase of 50 bps.Įconomists polled by Moneycontrol said there are two major reasons for the MPC to go in for aggressive rate hikes. The Monetary Policy Committee (MPC) began its three-day meeting on September 28 and will announce the outcome on September 30. The Reserve Bank of India’s rate-setting panel is likely to increase the key policy rate by 50 basis points (bps) at its meeting this week as inflation continues to be the dominant theme in deliberations, shows a Moneycontrol poll of 20 economists. RBI likely to hike policy rate by 50 bps today The Nifty futures were trading around 16,725 levels on the Singaporean exchange. Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 87 points. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.15%. In Japan, the Nikkei 225 slipped 1.32%, and the Topix index fell 0.87%. China’s factory activity data is due later today. Shares in the Asia-Pacific traded lower on Friday, the last day of the third quarter, following another sell-off on Wall Street overnight. Unlocking opportunities in Metal and Mining.Interview Series Business In The Week Ahead. ![]()
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