India's unemployment rate drops to 3.1% in 2023: NSO
The report highlights that in rural areas, the unemployment rate declined to 2.4% in 2023, as against 2.8% in the preceding year.
The report highlights that in rural areas, the unemployment rate declined to 2.4% in 2023, as against 2.8% in the preceding year.
MoSPI’s national statistical office says construction will see a double-digit growth of 10.7% this year
GDP estimates are largely in line with RBI’s projections of 7% GDP growth for FY24
Elevated temperatures in northern regions and plausibility of severe upcoming heat waves to affect agricultural output and keep inflation at elevated levels, says a report.
Rising inflation and firming bond yields in the U.S. push down Indian benchmark indices, causing a correction of around 6% from the latest life–highs of February 16.
According to the RBI, the gross NPA ratio of all scheduled commercial banks may increase from 7.5% in September 2020 to 13.5% by September 2021, and even escalate to 14.8% in severe stress scenario.
As per National Statistical Office data, India's GDP may contract by 7.7% this fiscal year, worst since 1951-1952. The World Bank paints an even bleaker picture. But hope for recovery still abounds.
Reserve Bank of India governor Shaktikanta Das says that efforts towards reopening the economy are confronted with rising Covid-19 infections.
While directly mum on inflation and growth, the RBI’s latest monetary policy report warns that Covid-19 would impact economic activity in India through lockdowns and slowing global trade and growth.
At the last monetary policy meeting of FY20, the central bank kept the interest rate unchanged, with a warning to not read the ‘pause’ continually for its future actions.