WPI Inflation Soars to 4-Month High of 2.36% in October Amid Surge in Food Prices Introduction The Wholesale Price Index (WPI) inflation in India surged to a four-month high of 2.36% in October 2024, primarily driven by a sharp increase in food prices. This inflationary pressure, which measures the average change in prices of goods…
NIPFP Lowers India’s FY25 GDP Growth Estimate to 6.9-7.1% The National Institute of Public Finance and Policy (NIPFP) has recently revised its growth forecast for India’s Gross Domestic Product (GDP) for the fiscal year 2024-25 (FY25). The new estimate stands at a range of 6.9% to 7.1%, a downward adjustment from previous forecasts. This revision…
Decline in FDI in India’s Food Processing Sector in 2023-24 Introduction: Decline in FDI in India’s Food Processing Sector In the financial year 2023-24, India has witnessed a notable decline in Foreign Direct Investment (FDI) within its food processing sector. This sector, once a burgeoning area of growth, has faced challenges that have led to…
Retail Inflation Eases to 5-Year Low of 3.5% in July Overview of the News In July 2024, India’s retail inflation rate dropped to a five-year low of 3.5%, according to recent data released by the Ministry of Statistics and Programme Implementation. This marked a significant decline from previous months, reflecting a favorable shift in the…
RBI Bags Risk Manager of the Year Award 2024 by London’s Central Banking Publication The Reserve Bank of India (RBI) has been honored with the prestigious “Risk Manager of the Year Award 2024” by London’s Central Banking Publication. This accolade recognizes the RBI’s exceptional risk management practices and its proactive approach in navigating the complex…
India’s Foreign Exchange Reserves Surge by $2.56 Billion to Reach $644.15 Billion Significant Increase in Reserves India’s foreign exchange reserves saw a substantial increase of $2.56 billion, reaching $644.15 billion for the week ending May 10, 2024. This surge comes after a previous increase of $3.668 billion, marking a positive trend following three consecutive weeks…
India’s Internet Economy Poised to Reach $1 Trillion by 2030, Experts Predict The digital landscape in India is on a trajectory of unprecedented growth, with experts forecasting that the country’s internet economy is set to soar to a staggering $1 trillion by the year 2030. This projection comes on the heels of a remarkable surge…
India’s Factory Output and Industrial Production Highlights India’s industrial production witnessed a significant uptick in the latest data released by the government. The Index of Industrial Production (IIP) rose by 12.9% in March compared to the same period last year. This surge comes after a period of sluggish growth, indicating a potential rebound in the…
India’s Industrial Production Growth Slows to 4.9% in March 2024 India’s industrial production growth rate decelerated to 4.9% in March 2024, indicating a slowdown in the country’s manufacturing sector. This figure, released by the government’s National Statistical Office (NSO), is a cause for concern as it signifies a notable drop compared to the previous month’s…
India’s Fiscal Update 2023-24: Deficit and Revenue Surge In the fiscal year 2023-24, India witnessed significant developments in its fiscal landscape, marked by a notable surge in both deficit and revenue. This fiscal update holds paramount importance for aspirants preparing for various government exams, including those aspiring for positions in teaching, police services, banking, railways,…
