Category: Economic News

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 […]

Rupee becomes worst-performing Asian currency; bonds rally in 2020

Rupee becomes worst-performing Asian currency; bonds rally in 2020

By Administrator_ India Capital Sands Bonds closed stronger on the last day of 2020 and the rupee weaker as the Reserve Bank of India  followed opposite strategies for the two throughout the year. The rupee ended at 73.1 a dollar on Thursday, against 71.4 at the end of 2019. It has depreciated 2.3 per cent in this calendar year, becoming the […]

Indian economy

Indian economy could be ‘most resilient’ in subregion in long term

By Administration_ India Capital Sands India’s economy could prove to be the “most resilient” in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country’s large market will continue to attract investments. The report titled ‘Foreign Direct Investment […]

Petrol, Diesel prices remain steady, govt tax collection on fuel swells by 459% in 7 years

Petrol, diesel prices unchanged for 21st day

By Administrator_ India Capital Sands Petrol and diesel prices were paused for the the 21st day on Monday after sixth straight day of hikes. Fuel prices were hiked for the sixth straight day on December 7 by the oil marketing companies leading rates to touch 2-yrear high. Petrol price in Delhi was was hiked by 30 paise per litre and diesel […]

RBI governor asks banks to strengthen

RBI governor asks banks to strengthen lending capacity by raising capital

By Administration_ India  Capital Sands The RBI Governor Shaktikanta Das has asked banks to take proactive measures to strengthen their resilience and lending capacity by raising capital, the central bank said in a statement on Wednesday. During a two-day meeting with heads of banks, including the private sector lenders, the governor emphasised on the need to remain vigilant and make provisions against bad loans proactively. […]

Saudi Arabia plans spending cuts in 2021 as economy recovers: Report

Saudi Arabia plans spending cuts in 2021 as economy recovers

By Administration_ India Capital Sands Saudi Arabia said its spending plans for next year would be expansionary, as it leans more heavily on government-controlled funds to make up for cuts to a finance ministry budget battered by a decline in oil prices and the coronavirus pandemic. The kingdom will stick to its plan to cut spending by 7.3 per cent in […]