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.
India’s liquidity-starved economy will restrain housing market activity and price rises in coming months and into 2020, according to a Reuters poll of property market experts who were skeptical aggressive interest rate cuts will revive it.
The transfer of Reserve Bank of India (RBI) surplus will only give marginal relief, while risk to the fiscal remains on account of the expected shortfall in Goods and Services Tax (GST) revenues, Kotak Equities said.
Ratings firm Moody's said the measures announced by the government to boost the sagging economy would support investors and business sentiments, but domestic and external headwinds would persist over the fiscal.
Indian bonds edged up to their highest in three weeks while the rupee rose after the Reserve Bank of India (RBI) approved the transfer of a much higher-than-expected dividend to the government, soothing concerns of fiscal slippage.
The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, according to economists polled by Reuters.
The Central Board of the Reserve Bank of India on Monday decided to transfer a sum of Rs 1,76,051 crore to the Government of India comprising Rs 1,23,414 crore of surplus for the year 2018-19.