MUMBAI (Reuters) -The Indian government on Tuesday lowered its fiscal deficit target to 4.9% of GDP for the financial year ending March 2025, from 5.1% in the interim budget in February, aided by a hefty surplus transfer from the central bank and robust tax revenues. The fiscal target was part of India’s federal budget, announced …
India lowers fiscal deficit target to 4.9% of GDP for FY25 Read More »
By Dharamraj Dhutia MUMBAI (Reuters) -The Indian government has lowered its planned gross market borrowing by 120 billion rupees ($1.44 billion) for the financial year ending March 2025, Finance Minister Nirmala Sitharaman announced in the federal budget on Tuesday. The government aims to borrow a gross of 14.01 trillion rupees, down from 14.13 trillion rupees …
India government cuts gross market borrowings to 14.01 trillion rupees for 2024-25 Read More »
By Rahul Paswan (Reuters) – Gold prices fell to a more than one-week low on Monday as the dollar firmed, while traders awaited more U.S. economic data and comments from Federal Reserve officials this week for clarity on the timeline for interest rate cuts. Spot gold fell 0.4% to $2,391.21 per ounce, as of 1635 …
Gold slips to over 1-week low as dollar firms, investors await more Fed cues Read More »
BENGALURU (Reuters) – Federal Bank said on Monday that the Reserve Bank of India (RBI) has approved the appointment of KVS Manian as the Indian lender’s managing director and chief executive officer for a period of three years. KVS Manian was the joint managing director of Kotak Mahindra Bank till April, 2024 and was short-listed …
India cenbank approves appointment of ex-Kotak Mahindra exec as MD, CEO of Federal Bank Read More »
By Joanna Plucinska and David Shepardson FARNBOROUGH, England (Reuters) -Demand for air travel has normalised after a years-long boom following the COVID-19 pandemic as holidaymakers and travellers baulk at higher fares, executives at major airlines said at the Farnborough Airshow on Monday. Guliz Ozturk, CEO of Turkey’s low-cost Pegasus Airlines, said the airline expected yields …
Air travel demand ‘normalising’ after COVID boom, execs say Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust body has asked Reliance Industries and Walt Disney around 100 questions linked to their $8.5 billion India media assets merger, including details on sports rights as it heightens its scrutiny of the deal, two sources told Reuters. Antitrust experts had warned that the Reliance and Disney …
India sends 100 antitrust queries for Reliance, Disney $8.5 billion merger, sources say Read More »
By Manoj Kumar and Nikunj Ohri NEW DELHI (Reuters) – India’s government has taken a more cautious stance than private economists on the outlook for growth this fiscal year, predicting the world’s fifth-largest economy will expand between 6.5% and 7%. The projection from the finance ministry’s economic division is lower than the 8.2% robust growth …
India government somewhat cautious on economic outlook, sees growth of 6.5%-7% Read More »
BENGALURU – India’s Mahindra Logistics reported a sixth straight quarterly loss on Monday, hurt by higher spending on freight and warehousing. The company’s consolidated net loss widened to 93.2 million rupees ($1.1 million) in the quarter ended June 30, from a loss of 85.5 million rupees a year ago. Revenue of the logistics arm of …
India’s Mahindra Logistics posts sixth straight quarterly loss on higher costs Read More »
NEW DELHI (Reuters) – India’s monetary policy framework should consider targeting inflation that excludes food, the prices of which are influenced more by supply than demand, the government’s 2023/24 economic survey said on Monday. India’s central bank targets consumer price index-based inflation and is currently mandated to keep inflation at 4% with a tolerance band …
India’s inflation targeting framework must be re-examined, government report says Read More »
By Dharamraj Dhutia and Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee may slip to a record low this week, with traders eyeing cues from the country’s federal budget, while the government likely sticking to fiscal discipline could cheer bond traders. Global developments including U.S. president Joe Biden’s decision not to run for another term …
Rupee may test record low; India’s federal budget in spotlight Read More »
