India's fiscal deficit in the four months through July stood at 5.48 trillion rupees ($76.65 billion), or 77.8% of the budgeted target for the current fiscal year, government data showed on Friday.
India's GDP growth rate continued its downslide for the fourth quarter on the trot to 5 per cent in the first quarter of FY2019-20 from 5.8 per cent in Q4 of FY2018-19.
India’s economy likely expanded at its weakest pace in more than five years in April-June, a Reuters poll showed, as consumer demand and private investment weakened at a time global trade frictions have dampened business sentiment.
Most emerging Asian currencies slipped on Thursday, as global recession worries and anxiety over the Sino-U.S. trade tussle capped risk appetite while higher oil prices weighed on India’s rupee.
Investor sentiment towards most Asian currencies soured over the past two weeks, as an escalation in the tit-for-tat Sino-U.S. trade war added to fears of a recession in the world’s largest economy and fuelled a flight from risk assets.
Fitch group firm India Ratings and Research has lowered its GDP growth forecast to six-year low at 6.7 per cent in the current fiscal as against 7.3 per cent projected earlier.
Global broking firm Goldman Sachs has forecast a mild recovery of the Indian economy from the economic slowdown by March next year, assuming a significant pick-up in consumer confidence and loosening of domestic financial conditions.
Home Minister Amit Shah on Wednesday stressed up on the importance of maintaining India's internal and external security to achieve Prime Minister Narendra Modi's goal of making the country a $5-trillion economy.
The Bimal Jalan-led panel has recommended a review of the Reserve Banks Economic Capital Framework (ECF) every five years. The report has also suggested that the RBI bring its fiscal year to April-March from next fiscal.