Tomato prices surged by 55 per cent on-month, climbing from approximately Rs 42 per kg in June to around Rs 66 per kg in July. The spike was mainly due to adverse weather conditions.
However, the growth momentum slowed in June, with merchandise exports increasing by only 2.6 per cent year-on-year, down from 9.1 per cent in May. This deceleration was largely attributed to an 18.2 per cent contraction in oil exports.
The Index of Industrial Production (IIP) increased by 5.9 per cent year-on-year in May, up from 5.0 per cent in April, reflecting a healthy surge in industrial activity.
According to CRISIL report, the increase in food prices, particularly vegetables, cereals, milk, and fruits, has been a significant contributor to this uptick.
On-year, tomato prices shot up by 30 per cent, onion prices soared by 46 per cent, and potato prices increased by a staggering 59 per cent. This surge in vegetable prices has largely been due to several adverse factors impacting supply.
This is a significant shift from the USD 8.7 billion deficit (1.0 per cent of GDP) reported in the third quarter, and a notable improvement compared to the USD 1.3 billion deficit (0.2 per cent of GDP) in the fourth quarter of the previous fiscal year.
In an outlook for India's capital goods sector, leading manufacturers are poised for sustained double-digit revenue growth amidst robust government and private sector spending.
India's imports of finished steel reached 8.3 MT in fiscal 2024, marking a substantial 38 per cent increase year-on-year. The primary contributors to this surge in imports were China, South Korea, Japan, and Vietnam. Chinese steel imports alone accounted for 2.7 MT, while South Korea and Jap
According to Krishnan Sitaraman, Senior Director and Chief Ratings Officer at CRISIL Ratings, the momentum in these sectors remains robust, buoyed by consistent policy interventions that have not only attracted significant investor interest but also bolstered the credit profiles of private p
This surge will be fuelled by investments amounting to around Rs 19,000 crore, including significant contributions from a new major player entering the market.
According to Crisil report, healthy rains could bolster rural demand, which showed signs of revival after being impacted in the previous fiscal year. Additionally, robust crop output might tame food inflation, creating policy room for potential interest rate cuts, as non-food inflation remai