Days after Amartya Sen lamented that India has taken a quantum jump backwards since 2014, Niti Aayog Vice Chairman Rajiv Kumar today said the Nobel laureate should spend some time in the country to see the structural reforms undertaken by the Modi government.
Brokerage BNP Paribas today said the Reserve Bank of India (RBI) will go for another 0.25 per cent hike in key policy rates at its August monetary policy review, a day after an official data showed retail inflation rising to a five-month high of 5 per cent in June.
The 7.17 per cent 10-year benchmark bond maturing in 2028 declined to Rs 95.8875 from Rs 95.9625, while its yield inched up to 7.79 per cent from 7.78 per cent.
Union Minister Arun Jaitley on Friday exuded confidence that India will pip Great Britain to become the fifth largest economy in the world next year if economic expansion continues at the projected rate.
Emergence of India as the sixth largest economy was very much expected but still there is a long way to go as the per capita income of the country is still low, Niti Aayog vice chairman Rajiv Kumar said.
Higher expenditure on salaries and farm loan waivers, coupled with a revenue shortfall on GST implementation, led to a slippage of 0.35 per cent in states' fiscal targets to 3.1 per cent in 2017-18, the RBI said.
The 7.17 per cent government security maturing in 2028 rose to Rs 95.9625 from Rs 95.37, while, its yield slid to 7.78 per cent from 7.87 per cent.
India emerged as the world's sixth largest economy in 2017 surpassing France and likely to go past the United Kingdom, which is at the fifth position, according to an analysis of data compiled by the World Bank.
The 7.17 per cent 10-year benchmark bond maturing in 2028 rose to Rs 95.37 from Rs 95.19, while its yield moved down to 7.87 per cent from 7.90 per cent.
The rupee is expected to be around 68-72 against the USD in the next 2-4 months, and the depreciation bias in the domestic currency is likely continue, says a UBS report.
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