Points to headwinds from elevated global crude prices and minimum support prices for kharif crops as reason. India Ratings and Research (Ind-Ra) has revised its FY19 economic growth forecast down to 7.2% from 7.4% earlier. It cited the headwinds emanating from elevated global crude oil prices and the government’s decision …
Read More »Daily Archives: August 17, 2018
Ashok Leyland unveils BS IV engine for CVs
Ashok Leyland, the Hinduja Group’s flagship company, unveiled Innoline, a BS IV engine driven by an in-line fuel pump. “This is the latest innovation from Ashok Leyland for commercial vehicles,” said Vinod K. Dasari, managing director, Ashok Leyland. “This technology can be upgraded and used for BS VI engines as …
Read More »Tea exporters see competitive opportunity in rupee weakness
Tea growers see an opportunity to boost the competitiveness of Indian tea in the global market, riding on the rupee’s recent weakness. India’s tea exports remained flat at 46.8 million kg between April and June compared to a year earlier although prices increased marginally. Arijit Raha, secretary general, ITA concurred …
Read More »NPCI unveils ‘more secure’ UPI with overdraft facility
The National Payments Corporation of India (NPCI) has upgraded the unified payments interface (UPI) with enhanced security features and overdraft facilities. Unveiling the UPI 2.0 on Thursday, RBI Governor Urjit Patel said that the upgraded UPI was the result of the calibrated approach adopted by RBI in the initial years …
Read More »Growth impulses remain strong: Patel
Reserve Bank of India (RBI) Governor Urjit Patel sees domestic growth impulses continuing to remain reasonably strong as the monsoon, which has been normal ‘so far’, augurs well for the farm sector, according to the minutes of the Monetary Policy Committee’s meeting earlier this month. “The manufacturing sector has continued …
Read More »U.S. to impose more sanctions on Turkey if pastor is not freed
U.S. Treasury Secretary Steve Mnuchin warned on Thursday that Washington would levy more sanctions on the troubled Turkish economy if Ankara does not soon release a jailed American pastor. Mr. Mnuchin on Thursday suggested that the next spiral of tit-for-tat sanctions was coming soon. “We have put sanctions on several …
Read More »Why Turkey’s crisis feels familiar for emerging markets
For nearly 10 years now, the flood of cash from global central banks has financed shopping malls in Istanbul, booming cities in China and 100-year bonds in Argentina. Today, many of the malls are empty, property developers in China are riddled with debt, and Argentina has just submitted to a …
Read More »Panel formed, Centre tells SC
Cabinet Secretary orders supply of drinking water, dry food packets to flood-hit Kerala The Centre on Thursday informed the Supreme Court that the Union Cabinet Secretary had constituted a committee chaired by the chairman of the Central Water Commission and engineers-in-chiefs of Tamil Nadu and Kerala for “proper reservoir management …
Read More »Rupee slides to a new low vs dollar
Foreign exchange reserves have declined by $23 billion in the last four months, and stood at $402.7 billion as of the week ended August 3, 2018. The weak trend in the global markets along with the fall in the rupee affected investor sentiment in the equity market as well, with …
Read More »‘No creamy layer norm for SCs/STs’
Attorney-General K.K. Venugopal argued that SC/ST are a “homogeneous group and any action to regroup them based on economic or social advancement would not be apt”. Mr. Venugopal said rigorous modalities were prescribed for inclusion of communities in the list of SCs/STs. “For inclusion of communities in the list of …
Read More »