Mumbai: Analysts at Goldman Sachs and Bank of America-Merrill Lynch cut their growth forecasts for India, following up on a Morgan Stanley downgrade earlier this week that had sparked much concern in domestic markets. The downgrades come in a tough month for Indian markets, after global risk aversion surged, exposing the country's fiscal and economic vulnerabilities. Goldman Sachs said it was cutting its gross domestic product forecast to 6.6 per...
05:24 PM, May 25, 2012
Mussoorie: Describing the upsurge in inflation in April as a "surprise" development, the Reserve Bank on Thursday said it will take into consideration the emerging price situation and accordingly decide on policy action in its review next month. The central bank has also asked the government to take action to reduce the fiscal deficit, which rose to 5.9 per cent of the GDP in 2011-12. "We noted that inflation has...
03:29 AM, May 25, 2012
Mumbai: The rupee fell to a fresh record low on Thursday as a sharp increase in petrol prices failed to lift investor sentiment even as it fueled expectations New Delhi might soon take the more politically fraught step of raising diesel prices. India's hefty subsidy bill for diesel, kerosene and LPG is a budget-buster that forces heavy government borrowing and weighs on investor sentiment. High global energy prices and a...
12:35 PM, May 24, 2012
THIRUVANANTHAPURAM: A high-level meeting convened by Chief Minister Oommen Chandy, along with Agriculture Minister K P Mohanan and Food and Civil Supplies Minister Anoop Jacob on Tuesday resolved to strongly intervene in the market to bring down vegetable prices.The facilities of the Civil Supplies Corporation, Horticorp and VFPCK will be channelised effectively and vegetables will be sold at prices 30 per cent lower than the market price. The outlets should...
11:51 AM, May 23, 2012
Jalandhar: Buried in recent monthly data for wholesale prices in India, the wild gyrations of a humble vegetable tell the tale of an economy trapped in inflation by its own rigidities. Back in December, after a bumper harvest of potatoes, furious farmers dumped tonnes of their crop on roads in protest over a crash in prices: four months later, the annual wholesale inflation rate of the potato is galloping at...
12:33 PM, May 22, 2012
New Delhi: Falling value of rupee is likely to further push up prices of manufactured goods and other commodities, adding to the woes of common man reeling under double-digit retail inflation, say experts. "There will be an impact on inflation...five per cent depreciation in the rupee will fuel local inflation by 15-20 basis points," Abheek Barua, chief economist, HDFC Bank said. The declining value of rupee, which has depreciated by...
03:17 AM, May 21, 2012
New Delhi: India's consumer price inflation accelerated in April to 10.36 per cent, making life harder for the RBI as it looks to kickstart a flagging economy, government data showed on Friday. In March, consumer prices rose 9.47 per cent. Consumer price-based food inflation accelerated to 10.18 per cent in April from 8.22 per cent in February, driven by a rise in prices of vegetables, eggs and fish products. Inflation...
11:50 AM, May 18, 2012
Mumbai: The steep fall in rupee may put some inflationary pressures on the economy as the cost of imports will go up, experts said on Thursday. "Though crude prices have been falling in recent past, decline in the rupee is offsetting its positive impact. I feel, the current spate of depreciation of the rupee is somewhat inflationary due to rise in import costs," Crisil Chief Economist DK Joshi said. The...
09:38 PM, May 17, 2012
New Delhi: Worried over deteriorating global economic situation and its impact on India, the government on Wednesday announced that it would resort to "unpopular" austerity measures to deal with fiscal problems but made it clear there is no pressing of "panic button". Finance Minister Pranab Mukherjee told the Rajya Sabha that the government needed to deal with difficult situation in wake of the rising prices of the crude oil in...
06:59 PM, May 16, 2012
New Delhi: India's wholesale price index (WPI) rose a faster-than-expected 7.23 per cent in April from a year earlier, mainly driven by higher food prices and manufactured items, government data showed on Monday. Analysts on average had expected an annual rise of 6.91 per cent. Wholesale prices rose 6.89 percent in March. The annual reading for February was upwardly revised to 7.36 percent from 6.95 percent, the government said in...
12:21 PM, May 14, 2012
London: Four out of ten young couples in Britain have either shelved their plans to start a family or delayed it because they cannot afford kids, a new study has found. The reason behind the decision has been attributed to the increased living costs like rising bills, petrol prices, food inflation and job insecurity, the Daily Express reported. A study on 2,412 childless couples found they had decided to delay...
07:29 PM, May 11, 2012
Mailan: World food prices are expected to ease in April after three months of rises due to falls in some grain prices, but inflation worries are still simmering as soybean and rice prices climb - fanning fears of hunger and social unrest in poor countries. Record high food prices in February 2011 contributed to protests connected to the Arab Spring uprisings in the Middle East and North Africa last year....
05:02 AM, May 03, 2012
Mumbai: The Reserve Bank of India's battle to contain a falling rupee just got tougher. The current account deficit is widening and a weak global investment climate coupled with policy paralysis in New Delhi, sticky inflation and slowing growth have increased the aversion of foreign investors to India, pushing the capital account into the red. Last week's move by rating agency Standard & Poor's to cut the country's credit rating...
10:14 AM, May 01, 2012
New Delhi: The retail inflation for industrial workers stood at 8.65 per cent in March, higher than 7.57 per cent in February due to a spurt in food prices. "The point to point of inflation based on CPI-IW also increased from 7.57 per cent in February to 8.65 per cent in March," a Labour Ministry statement said. The retail inflation measured in terms of All India Consumer Price Index (CPI-IW)...
04:59 AM, May 01, 2012
Fatehgarh Sahib: Punjab Chief Minister Parkash Singh Badal on Sunday said any further hike in petrol and diesel prices would lead to more inflation that would break the common man's back. "If there is any further hike in petrol and diesel prices, this will lead to more inflation and will break the back of the common man," he said. "The Union government advises the state to reduce VAT on petroleum...
02:59 AM, Apr 30, 2012
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