Morgan Stanley is firm on India's growth outlook given the support it is getting from the domestic demand. Citing high-frequency data, the global investment banking firm said it remains constructive on the growth outlook.
"Those who had taken away hard-earned money of poor and women during demonetization are talking about jewellery today. The truth is that the middle class, who have one or two pieces of jewellery, is also voting against the BJP because the middle and lower middle-class people are also affecte
Inflation continues to remain the main concern for the Reserve Bank of India's monetary policy committee members before it goes ahead and loosens its stance on key interest rates.
Pressure in food prices has been interrupting the ongoing disinflation process in India, and posing challenges for the final descent of inflation trajectory to the 4 per cent target, as per minutes of RBI's monetary policy meeting that was held earlier this month.
India's Sensex experienced a decline of 0.6 per cent, particularly affecting consumer durables and banking stocks. Today, Sensex continues to trend lower in alignment with other Asian stocks.
The report says productivity driven growth will contribute to a favourable outlook for India. With inflation projected at 4.5 per cent in the next fiscal and current account deficit forecasted to remain below 1.5 per cent of GDP during the same period.
US Federal Reserve Vice Chair Philip N Jefferson believes it will be appropriate to maintain the current restrictive monetary policy stance, to align inflation with 2 per cent.
With approximately 20 million barrels per day of crude oil and condensate passing through the Strait of Hormuz, equivalent to about a fifth of global consumption, any disturbance in this key maritime route reverberates across the world.
The Pakistani government announced an increase in the price of petrol by Pakistani currency (PKR) 4.53 per litre and that of high-speed diesel (HSD) by PKR 8.14 per litre for the next fortnight ending April 30.
Earlier on Sunday, after the BJP released its election manifesto, Congress leader Rahul Gandhi alleged that two words "inflation and unemployment" were missing in promises made in the poll document.
Pradhan took a swipe at the Congress leader while reacting to his previous remark on BJP's manifesto, Sankalp Patra, wherein he said that two words, "inflation and unemployment," were missing from the promises made in the poll document.
The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 0.53 per cent (Provisional) for March 2024 (over March 2023), showed official data on Monday.