pranjul bhandari

India's manufacturing sector experienced a slowdown in March, with growth moderating due to rising costs, intense competition, and global uncertainties like the Middle East conflict. While new orders and output saw slower expansion, employment surged, and export demand remained robust, indicating a mixed but resilient industrial landscape.

The manufacturing sector was hit the hardest, with its PMI dropping to a four-and-a-half-year low of 53.8 from 56.9. Heightened uncertainty and volatility linked to the Middle East conflict weighed on sentiment.

India's services sector saw a slight slowdown in February, with new business growth hitting a 13-month low due to softer demand and rising inflation. Despite this, international sales surged, prompting increased hiring. The overall private sector, however, experienced its fastest growth in three months, driven by strong manufacturing momentum and improved demand.

Mumbai, Mar 31 () Foreign brokerage HSBC today said despite financial support from the Centre, Indian state governments' fiscal deficit widened more than budgeted and the gap will remain at the elevated level in 2017-18.

New Delhi, Mar 2 () The economic impact of demonetisation has been "sizeable but not catastrophic" and the country's growth momentum is expected to be U-shaped going forward, experts believe.

New Delhi, Feb 2 () India is expected to clock a GDP growth of 7.1 per cent in 2017-18 as the country gets sufficiently remonetised and the schemes in the Budget play a supportive role, says an HSBC report.

Achieving 8.2% growth during the 12th Plan period (2012-17) will not be easy and a fresh approach to economic issues is needed to push growth, a Planning Commission study has said.

HSBC has raised its FY24 growth forecast to 5.8% from 5.5% and lowered its inflation expectation to 5% from 5.4%, citing an improved macroeconomic environment.

The rupee breached the 77 level for the first time on Monday as India was seen to be the worst impacted by the crude oil surge in the wake of the Russia-Ukraine conflict.

The rupee breached the 77 level against the dollar for the first time on Monday as India was seen to be the worst impacted by the crude oil surge in the wake of the Russia-Ukraine conflict.

A day after the government reported an all-time high trade deficit of $25.6 billion for June, the rupee hit a new low of 79.37 at Tuesday’s close.

Banks are gearing up to manage the reverse flow of Rs 2,000 banknotes from Tuesday. The Reserve Bank of India (RBI) estimates that most of the Rs 3.6 lakh crore of this high-denomination banknote in circulation will be turned in over the next four months.

The withdrawal of high denomination currency notes would provide the headroom to provide a policy stimulus to the Indian economy in the next budget.

There is a possibility that Tuesday’s monetary policy statement by Raghuram Rajan might be the last to be made by an RBI governor. With the government set to put in place a monetary policy committee, future announcements are likely to be made by the panel which would be dominated by RBI officials.

Banks are gearing up to manage the reverse flow of Rs 2,000 banknotes from Tuesday. The Reserve Bank of India (RBI) estimates that most of the Rs 3. 6 lakh crore of this high-denomination banknote in circulation will be turned in over the next four months. The RBI has asked banks to maintain separate daily records of the value of notes submitted for exchange and those deposited. The central bank said it would call for this data when required.