Category: Economic News

IMF delays release of new forecast to January 25 to factor in COVID-19 developments

IMF delays release of new forecast to January 25 to factor in COVID-19 developments

The International Monetary Fund has delayed the release of its World Economic Outlook by one week to January 25 to factor in the latest COVID-19 developments, a spokesperson for the global lend. The World Economic Outlook update will be launched on January 25 to allow our teams to incorporate the latest developments related to the COVID-19 pandemic into the economic […]

Private sector invests Rs 15,164 cr in roads till November this fiscal

Private sector invests Rs 15,164 cr in roads till November this fiscal

By Administrator_IndiaCapital Sands Road Transport and Highways Minister Nitin Gadkari said private sector investment in road construction in 2020-21 and 2019-20 was Rs 12,475.53 crore and Rs 21,925.98 crore, respectively Private sector investment in road construction till November this financial year stood at Rs 15,164.25 crore, Parliament was informed on Thursday. In a written reply to the Lok Sabha, Road Transport […]

Asian stocks rise with bond yields as Fed outcome boosts risk sentiment

Asian stocks rise with bond yields as Fed outcome boosts risk sentiment

By Administrator_IndiaCapital Sands Asian stocks followed Wall Street higher on Thursday after the U.S. Federal Reserve said it would end bond-buying stimulus in March to set up three interest rate increases next year to tackle heated inflation. Bond yields rose while the dollar stabilized after slumping overnight as havens fell out of favour. Gold gained along with crude oil. “The […]

Life insurers report 3% YoY growth in new business premiums in August

By Administrator_ India Capital Sands After witnessing a double-digit contraction in new business premium (NBP) in July, life insurers are back in the green again, witnessing a marginal year-on-year (YoY) growth of 3 percent in NBP in August, owing to a strong performance by the private insurers. In July, life insurers reported an 11 percent YoY drop in NBP while in June they managed […]

Finance Ministry releases Rs 9,871 crore to 17 states as grant

By Administrator_ India Capital Sands The Finance Ministry on Tuesday said it has released the fifth monthly installment of revenue deficit grant of Rs 9,871 crore to 17 states. The Post Devolution Revenue Deficit Grant is provided to the states under Article 275 of the Constitution. The grants are released as per the recommendations of the 15th Finance Commission in […]

PMI services expand at a slower pace in March on surge in Covid cases

PMI services expand at a slower pace in March on surge in Covid cases

By Administrator_ India Capital Sands Activity in India’s services sector continued to expand in March, but at a slower pace with rising Covid-19 cases in the country resulting in lower footfalls and consumer uncertainty, a private survey showed on Wednesday. The IHS India Services Business Activity Index eased to 54.6 in March from 55.3 in February, suggesting moderation in growth. […]

Union Bank, Central Bank of India offer the lowest interest rates on personal loans

Union Bank, Central Bank of India offer the lowest interest rates on personal loans

By Administrator_ India Capital Sands The state-owned banks lead the race in offering the cheapest interest rates on personal loans. Union Bank of India and Central Bank of India’s personal loan rate on a Rs 5-lakh loan with a five-year tenure starts at 8.9 percent. It is followed by Punjab National Bank (PNB) with 8.95 percent, as per data from […]

March inflation rises to four-month high of 5.52% due to food, core prices

WPI inflation spikes to a 27-month high in Feb owing to costlier food, fuel

By Administrator_ India Capital Sands The wholesale price index (WPI)-based inflation rate rose to a 27-month high in February due to a broad-based hardening of prices of fuels, food items, and manufactured goods. However, diesel, which indirectly impacts prices of other items, continued to see deflation (a fall in prices), in February, albeit at a much lower rate than witnessed […]

India’s economy could recover and grow 10% in fiscal 2022, ratings agency S&P predicts

India’s economy could recover and grow 10% in fiscal 2022, ratings agency S&P predicts

By Administrator_India Capital Sands Ratings agency S&P Global Ratings said Tuesday that India is on track to recover from a pandemic-led economic contraction by next year. South Asia’s largest economy could grow 10% in fiscal 2022, the rating agency predicted in a report. India’s fiscal year begins on April 1 and ends on March 31 in the following year. In […]

India’s economy could recover and grow 10% in fiscal 2022, ratings agency S&P predicts

Indian economy to contract by 7% in current fiscal

By Administrator_India Capital Sands Pencilling in a GDP growth in third and fourth quarters, SBI Research on Wednesday revised its contraction forecast for the current fiscal year to 7 per cent. The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers. In April-September, the economy contracted 15.7 per cent but the second half may see a surprise 2.8 per cent […]