WPI inflation drops to 0.90%, an 8-month low in June
The Dollar Business Bureau Inflation based on Wholesale price index (WPI) fell to 0.90% in June, lowest in eight months as the prices of food commodities and manufactured goods declined. Inflation was 2.17% in May 2017 and (-) 0.09% in June last year, according to the official data released by the Commerce Ministry on Friday. “Build up inflation rate in the financial year so far was -0.44% compared to 3.71% in the corresponding period of the previous year, it said. The prices of major food items such as vegetables, potatoes and pulses witnessed a sharp decline in the month. The prices of potato, pulses and vegetables dropped by 47.32%, 25.47% and 21.16%, respectively. The sharp decline in food items prices last month could be due to the agitation by ...
A paradoxical 2017 awaits us!
On one hand, we lament over India’s reduced exports, and on the other, we see no 'social justice' in giving our exporters enough to even cover their input costs in the form of remission and incentive schemes. Steven Philip Warner | January 2017 Issue | The Dollar Business When 2016 began, the world trade community had just braved a cold and icy year. TDB's January 2016 issue titled, ‘2016: Are we regressing?’ summed the low-key expectations from 2016 quite well. Based on a comprehensive consideration of various past situations and expected scenarios (simulative analyses), TDB Intelligence Unit had then made a few forecasts about what the year ahead would mean for foreign trade and policy. They were predictions however, and most of which ...
India on an upward trajectory, to grow at 7.3%: UN report
The Dollar Business India is on an upward trajectory and will be the world’s fastest growing economy by 2017. This was the forecast report, released by the United Nations. With the momentum gained by the Indian economy, the country is expected to grow at 7.3% in 2016 and further grow at 7.5% in 2017. The forecasts are slightly up from the estimated growth of 7.2% in 2015. While stating that South Asia will be the fastest growing region in the world by 2017, the World Economic Situation and Prospects of 2016-2017 report added that India will retain its number as the fastest growing economy for some time. The signs are all there. The macro-economic activities in India, backed by declining prices of food, metals ...
RBI not done with interest rates cut: Raghuram Rajan
Source: PTI Hinting at the fourth interest rate cut this year, RBI Governor Raghuram Rajan has said he is not done with lowering rates and the central problem for the entire world remains slowing economic growth. Rajan, who was participating in the elite Jackson Hole economic symposium of the Kansas City Federal Reserve in the US, also said Reserve bank of India (RBI) has reached an agreement with the government on a new rate-setting panel, the Monetary Policy Committee, which would be announced soon. Rajan, who has under pressure from the government and the industry to further cut rates, said that RBI is still in an "accommodative mode" and would take a decision as per the data on inflation and other macroeconomic ...
