Category: Indian Economics
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Reliance circumvents US sanctions
Reliance’s circumvention of US sanctions meets legal requirements and is likely geared towards a weaning period in light of further sanctions against Venezuela. The Bolivarian Republic of Venezuela is situated in northwest South America and possesses the…
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New Afghan-India trade route
Afghanistan began exports to India through Chabahar port in Iran as the landlocked, war-torn nation turns to overseas markets to improve its economy. Chabahar Port is a seaport in Chabahar located in southeastern Iran, on the Gulf of Oman. It serves as Iran’s only oceanic port, and consists of two separate ports named Shahid Kalantari…
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Indian citizenship amendment bill dropped
Indian government has put aside a controversial amendment to its citizenship law after violent protests in its north eastern states. The Citizenship (Amendment) Bill, 2016 aims to provide citizenship to those who had been forced to seek shelter in India because of religious persecution or fear of …..
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RBI cuts interest rate
The Reserve Bank of India cut its benchmark interest rate by 25 basis points, a move likely to please Prime Minister Narendra Modi as he makes a final push for faster economic growth ahead of upcoming parliamentary elections. The Reserve Bank of India (RBI) is India’s central banking institution, which…
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Budget sops before Elections
The Narendra Modi-led government unveiled a budget tailored for an election year with tax breaks, relief for small business and unorganised sectors and a promise to build the infrastructure for a $10 Trillion economy. The Union Budget of India, also referred to as the Annual Financial Statement in the Article 112 of the Constitution of…
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India’s unemployment rate highest in 45 years
An official survey that has been withheld by the government shows India’s unemployment rate rose to a 45-year high during 2017-2018, delivering a blow to Prime Minister Narendra Modi just months before what is expected to be a closely fought general election. Unemployment is defined as a situation where someone of working age is not…
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BJP’s new election push
Prime Minister Narendra Modi’s ruling party is in favour of an expansionary economic policy and does not consider the government’s plan to keep the fiscal deficit to 3.3 percent of GDP. The previous Modi campaign in 2014 had famously highlighted reining in the fiscal deficit to under 3.5%. Monetary policy is the process by which…
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India cuts import taxes on Palm Oil
New Delhi has reduced import duties on crude and refined palm oil, an essential import commodity for India’s rapidly growing economy. Malaysia stands to gain significantly from this recent import tax cut. India relies on imports for 70 per cent of its edible oil consumption, an increase from 44 per cent in 2001/02. Palm oil…
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Indian markets slip after U.S. Fed’s comments
The rupee and stocks weakened early on Thursday, tracking Asian peers after the U.S. Federal Reserve gave a 2019 rate outlook that traders called “less dovish” than they expected. Government bonds also fell, halting a two-day advance after India’s monetary policy committee…
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RBI to consult with government
On Wednesday, the newly appointed RBI Governor Shaktikanta Das addressed that he would consult more closely with the government on policy issues and meet heads of state-run lenders within hours to address problems facing the banking sector. The origin of the Indian Banking Sector can be traced with the foundation…