The median forecast from a survey of 58 economists, conducted between February18-24, put year-on-year growth at 0.5 per cent in the December quarter, as the economy stabilised after contracting 23.9 per cent and 7.5 per cent in April-June and July-Sept quarters respectively.
The current monetary policy framework, signed by Prime Minister Narendra Modi's government with the Reserve Bank of India in 2015, expires next month
The Reserve Bank of India kept rates steady at record low levels this month and said it would maintain support for recovery from the coronavirus by ensuring ample liquidity.
"The Centre and states both generate revenue from petrol. We can think about bringing petroleum under the GST. Maybe it is a solution,'' said Finance Minister Nirmala Sitharaman
This week, the amount was borrowed at an interest rate of 5.5924 per cent. So far, an amount of Rs. 1,00,000 crore has been borrowed by the government through the special borrowing window at an average interest rate of 4.8307 per cent
The expression animal spirits'' was coined by celebrated economist John Maynard Keynes to refer to investors'' confidence in taking action in terms of investment.
The agency estimates the nominal GDP to grow 14.5 per cent in the next fiscal year and also that a gradual pick-up in revenue collections could lead to an improvement in the capital expenditure
Although the recovery in the next fiscal on a year-on-year basis will be V-shaped, the size of the GDP will barely surpass the level attained in the financial year 2019-20
In Delhi, the price of petrol was hiked by 31 paise from Rs 89.88 per litre to Rs 90.19 per litre, and diesel was increased by33 paise from Rs 80.27 per litre to Rs 80.60 per litre
In its Monetary Policy Review presented on February 5, the Reserve Bank of India projected 10.5 per cent GDP growth in the financial year 2021-22.
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.