The band, on the basis of which monetary policy is decided by a six-member committee headed by the central bank governor, was established in 2016.
S&P currently has India at -BBB-,- its lowest investment-grade rating, with a stable outlook
Exports during April-January this fiscal dipped by 13.58 per cent to $228.25 billion, while imports declined by 25.92 per cent to $300.26 billion.
The index of fuel & power group increased by 5.84 per cent and manufactured products index increased by 1.54 per cent.
Consumer price inflation in the country eased to 4.06 per cent in January 2021 from 4.59 per cent in December 2020, amid a sharp decline in food prices. Consumer inflation in January 2021, fell to a 16-month low, according to data released by the ministry of Statistics and Programme Implementation (MoSPI), on Friday, February 12. The annual retail inflation last month was reported as the lowest since September 2019, and below the 4.45 per cent forecast in a Reuters poll of economists. The retail food prices, which comprise nearly half of the country's inflation basket, increased 1.89 per cent in January from a year earlier, against 3.41 per cent in December 2020.
The industrial production in the country grew by one per cent in December 2020, after registering a contraction of 1.9 per cent in November 2020, government data showed on Friday, February 12. According to the Index of Industrial Production (IIP) data released by the Ministry of Statistics and Programme Implementation (MoSPI), the manufacturing sector output grew by 1.6 per cent in December 2020. The mining output declined by 4.8 per cent, while power generation grew 5.1 per cent during the month. The IIP had grown by 0.4 per cent in December 2019. Industrial production has been hit due to the COVID-19 pandemic since March last year when IIP contracted by 18.7 per cent during the month.
Consumer Inflation, January 2021: Retail inflation in January eased to 4.06 per cent due to a decline in vegetable prices, according to government data released on Friday
Finance Minister Nirmala Sitharaman also said that infrastructure creation, continuing reforms, and transparency of accounts are major features of this year's budget.
Only the coal and electricity sectors clocked positive growth in December 2020
RBI's balancing act to keep the rupee stable amid heavy foreign inflows while also keeping excess liquidity in check is flooding the market with more foreign funds
India's admission of a record budget deficit is drawing praise from investors, who see it as baby steps to making data out of Asia's third-largest economy less opaque
Fitch Ratings estimated India to clock an 11 per cent growth in the fiscal beginning April and then grow at 6.5 per cent a year through to 2025-26 fiscal.
The February 5-9 poll of 50 economists showed retail inflation fell to 4.45 per cent in January from December's 4.59 per cent.
Replying to a question in the Upper House, Thakur said regulatory bodies like RBI and Sebi do not have any legal framework to directly regulate crypto currencies
The central bank sold only Rs 9,000 crore of bonds versus Rs 31,000 crore it had set out to sell on Friday