-Livemint.com * Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel * On 20 February, petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre Reserve Bank of India governor Shaktikanta Das called for reduced indirect taxes on petrol and diesel to contain the fuel prices at a reasonable level. Petrol and diesel prices in...
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China tops emerging markets league table, India at third position -Tauseef Shahidi
-Livemint.com Growth in exports, easing inflation, and higher manufacturing activity have lifted India to the top half of Mint’s Emerging Markets Tracker for the first time in four months India climbed five spots to attain the third position among key emerging markets in January, the latest update to Mint’s emerging markets tracker shows. Rising exports, falling inflation, and greater manufacturing activity boosted India’s rank in January although it still remains a few...
More »The RBI’s ‘weighty’ food problem -Abhiman Das
-The Hindu Business Line The food articles’ high weight and their price volatility have reduced the efficacy of the central bank’s policy actions The flexible inflation targeting framework adopted by RBI in 2016 is considered a significant economic reform in India post 2000. Under this framework, maintaining a 4 per cent CPI headline inflation gets the highest priority in the hierarchy of monetary policy objectives. This rule based policy making renders monetary...
More »Questionable data, little room for exuberance -R Nagaraj
-The Hindu Using the latest quarterly estimates to point to an economic rebound seems flawed; recovery is likely to remain modest The decline in the quarterly GDP growth rate, by 7.5% during July-September 2020 (FY 2020-21: Q2), compared to a 24% decline in the first quarter has raised expectations of a sharp economic recovery after the novel coronavirus pandemic and the national lockdown. But is such optimism justified? A tracker India’s GDP at current...
More »Firms show increase in profits even as sales fall -Vineet Sachdev
-Hindustan Times The average PE (price earnings) multiple of Sensex companies , which measures the price of a stock as a multiple of its earnings per share, has risen to 31.49 in the current month, the highest since 1998-99 . The BSE Sensex, India’s benchmark stock market index, reached an all-time high of 44,825 on Wednesday, November 25. There is reason to believe that speculation and external tailwinds, rather than strong fundamentals,...
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