Finance minister Nirmala Sitharaman (File photo) NEW DELHI: Asserting that September quarter growth numbers do not indicate a systemic slowdown, finance minister Nirmala Sitharaman on Friday said that economic activity will pick up in third quarter and India will remain the fastest growing major economy over the next few years.“The fourth quarter, which was very…
RBI governor Shaktikanta Das MUMBAI: Reserve Bank of India (RBI) on Friday kept the policy rate unchanged for the 11th consecutive time at 6.5%, cut the economic growth forecast to 6.6% for 2024-25 from the earlier 7.2%, and reduced the cash reserve ratio (CRR) by 50 basis to 4%, which is expected to release nearly…
NEW DELHI: The country’s industrial output contracted for the first time in 22 months in Aug, dragged down by the high base effect and decline in mining and electricity and a weak manufacturing sector.Data released by the National Statistics Office (NSO) on Friday showed the index of industrial production (IIP) contracted 0.1% in Aug compared…
MUMBAI: Wednesday’s 50 basis points rate cut decision by the US Federal Reserve may not prompt an immediate response from RBI in its Oct policy, though it could benefit India by easing pressure on the rupee and lowering borrowing costs for those with access to global markets.In the equity market, the rate cut at the…
NEW DELHI: Equity benchmark indices, Sensex and Nifty opened on a negative note on Monday following Asian markets trends and global cues.Sensex opened at 80,973.75 down by 210 points (0.26%) while Nifty was down by 28 points at 24,823 points.NTPC, Adaniport, Tata Steel, Powergrid and Tata Motors were the major loser among the Sensex while…
Representative image New Delhi: Apparel manufacturers and brands expect a 25 per cent fall in sales this festive season when compared to last year, said a recent survey by the Clothing Manufacturing Association of India (CMAI). The survey included inputs from 166 apparel manufacturers, of which 78 per cent expect a slowdown in sales while…
