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Tag: Inflation

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Video | Opposition MPs’ “Symbolic Walkout” Of Rajya Sabha Amid Row Over Budget

INDIA bloc leaders staged protests in and outside Parliament today against what they describe as "discrimination" against opposition-ruled states in the recently unveiled Union Budget. Both the Rajya Sabha and the Lok Sabha began on a stormy note after Opposition MPs protested against the Budget. Finance Minister Nirmala Sitharaman, speaking in Rajya Sabha, said "can't name every state in Budget". As Ms Sitharaman was speaking, several Opposition members briefly walked out of the Rajya Sabha before returning to their seats. Source link
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Video | “1 Month Wage To All Persons Newly Entering Workforce”: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman today announced that the government will give one-month's salary to all the new employees entering the workforce. The amount will be provided to the employees as Provident Fund contribution. "The scheme is meant for all persons entering the workforce in all sectors. It will benefit 210 lakh youths," Ms Sitharaman said while presenting the Budget in the parliament. Source link
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Video | Finance Minister Reaches Parliament For Her 7th Budget

Before presenting her 7th consecutive budget, the finance minister visited president Draupadi Murmu who fed her 'dahi cheeni'. This year's budget presentation replaces the iconic 'bahikhata' of the finance minister with a tablet, highlighting the Modi government's focus on digital growth.  Finance Minister Nirmala Sitharaman will present her seventh consecutive Budget today - Tuesday, July 23. The Budget for 2024-25 is being considered the action plan for the Modi 3.0 government to outline a roadmap towards India's development in the next five years. In her 7th record Union Budget, Nirmala Sitharaman is expected to announce an increase in the basic exemption limits under both old and new tax regimes in a huge relief for the middle class.  Prime Mi...
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Video | The Big Picture On Jobs, Growth & Inflation

NDTV gets you an in-depth analysis of the Economic Survey and what the big picture for India's economy on jobs, growth and inflation looks like in a comprehensive discussion with economists ahead of Budget 2024 Sakshi Bajaj speaks to experts on what the spotlight must be on.    Source link
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Retail inflation easing, food prices remain a concern: RBI | India News – Times of India

NEW DELHI: Retail inflation is gradually easing but the path has been interrupted by volatile and elevated food inflation, which may cause it to reverse after a temporary fall below the target during the second quarter of 2024-25, a RBI bulletin said on Wednesday.The central bank has consistently cautioned about the volatile food prices, particularly of vegetables and some cereals, which have come under pressure due to the heatwave sweeping across some states.While prediction of normal monsoon rains may augur well for crops and improve supplies, the impact of weather related shocks needs close monitoring."As long as food price pressures persist, however, the goal of aligning inflation with its target remains a work in progress," according to the RBI document. The central bank has a targ...
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India’s Wholesale Inflation Rises To 15-Month High Of 2.61 Per Cent In May

WPI inflation: The wholesale inflation rate rose for the third consecutive month in May, reaching 2.61 per cent, a 15-month high, driven by a significant increase in the prices of food articles, particularly vegetables, and manufactured items. The wholesale price index (WPI)-based inflation stood at 1.26 per cent in April, a notable rise from -3.61 per cent in May 2023. According to a statement from the Ministry of Commerce & Industry on Friday, "The positive rate of inflation in May 2024 is primarily due to the increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, and other manufacturing." The data indicates that inflation in food articles surged to 9.82 per cent in May, up from 7.74 per ...
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Retail inflation at 12-month low, IIP holds steady at 5% – Times of India

NEW DELHI: Retail inflation eased slightly to a 12-month low in May with prices of some food items moderating marginally, while the index of industrial production (IIP) growth held steady at 5% level in April.Data released by the National Statistical Office (NSO) on Wednesday showed retail inflation, as measured by the Consumer Price Index (CPI), rose an annual 4.8% in May, nearly at the same level as the previous month.Rural inflation was higher at 5.3%, while urban was at 4.2%. The food price index was at 8.7%, similar to the level in April.This is the ninth consecutive month when retail inflation has been below the 6% upper tolerance level of RBI. The data showed food and beverages inflation at 7.9%, while fuel and light contracted 3.8%. Vegetable prices continued to be a concern, ri...
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Retail Inflation In May Eases To 12-Month Low Of 4.75 Per Cent From 4.83 Per Cent In April

Retail Inflation in May: Retail inflation in India slightly eases to eases to 12-month low of 4.75 per cent in May from 4.83 per cent in April, according to data released by the Ministry of Statistics and Programme Implementation on Wednesday. As per NSO data, year-on-year (YoY) inflation rate based on all India Consumer Price Index (CPI) number is 4.75 per cent (provisional) for May, 2024. Corresponding inflation rate for rural and urban is 5.28 per cent and 4.15 per cent, respectively. Food inflation, which accounts for nearly half of the overall consumer price basket, jumped 8.69 per cent YoY in May, compared with an 8.70 per cent rise in the previous month. Food prices have been rising at more than 8 per cent YoY since November 2023. The inflation ra...
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Business News Live: GIFT Nifty Under 23,300, Investors Await Domestic Inflation Data

Business News Live: Hello and welcome to ABP Live's Business LIVE blog. Please follow this space for all the breaking news and latest updates from the stock market, economy, and the corporate world. The GIFT Nifty traded in red on Wednesday morning below the 23,300 mark. Investors will keenly await the inflation data for May, scheduled to be released today after market hours. Further, the US Federal Reserve will also announce its decision regarding interest rates on Wednesday. This will provide insight into the monetary policy ahead. The industrial production and manufacturing figures for May for India are also scheduled for today. In the last trading session on Tuesday, the key equity benchmark indices ended trading on a flat note after hitting new record highs during the day. The S&am...
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US employers added a robust 272,000 jobs in May in a sign of sustained economic health – Times of India

WASHINGTON: America's employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month's sizable job gain suggests that the economy is still growing steadily, propelled by consumer spending on travel, entertainment and other services.US airports, for example, reported record traffic over the Memorial Day weekend. A healthy job market typically drives consumer spending, the economy's principal fuel. Though some recent signs had raised concerns about economic weakness, May's jobs report should help assuage those fears. Still, Friday's report from the government included some signs of a potential slowdown. The unemployment rate, for example, edged up ...
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European Central Bank Confirms Interest Rate Cut, First Time Since 2019

The European Central Bank (ECB) on Thursday confirmed a widely anticipated reduction in interest rates, despite persistent inflationary pressures in the 20-nation euro zone, CNBC reported. This decision lowers the central bank’s key rate to 3.75 per cent, down from a record high of 4 per cent, where it had remained since September 2023. "Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation, and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady,” the ECB Governing Council said. In the updated macroeconomic projections, ECB staff revised their annual average headline inflation forecast for 2024 to 2.5 pe...
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