February Sees Surge in India's Manufacturing Sector Amid Strong Demand
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The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) climbed from 56.5 in January to 56.9 in February, marking the most robust improvement in the sector's health since September 2023.
Pakistan's Efforts to Secure $1.8 Billion for Chinese Loan Repayment Hit Roadblocks
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Sources from the finance ministry revealed that the Ministry of Finance has not yet provided the equivalent local currency amounting to $1.8 billion to the State Bank for the payment to China. Despite increased outflows of profits and dividends on foreign investments during the first seven months of the current fiscal year, the pending amount exceeds the repatriated sum.
India's Economy Set to Expand by 6.4% in Third Quarter of Fiscal Year 2024
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Economist Jahnavi Prabhakar stated in a report that for Q3FY24, the economy is expected to expand at a slower pace of 6.4 percent compared to 7.6 percent in Q2FY24, primarily due to muted growth in agriculture and industry. However, Prabhakar noted that the service sector is anticipated to contribute positively to overall growth.
Cabinet Approves 8% Increase in Sugarcane Price, Benefiting 5 Crore Farmers
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Significantly higher than the A2+FL cost of sugarcane by 107 percent, the revised FRP aims to bolster the economic well-being of sugarcane farmers.
RBI Bulletin Forecasts Robust 7% GDP Growth for India in Q4, Anticipates Surge in Corporate Investments
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According to the bulletin, the Indian economy continues to maintain the momentum achieved in the first half of the fiscal year 2023-24, as evidenced by various high-frequency indicators. Consumer confidence notably strengthened in January 2024, particularly buoyed by optimism surrounding the overall economic situation and employment conditions, as revealed by the latest household survey conducted by the RBI.
Unexpected Strength: US Economy Surprisingly Robust in the Fourth Quarter
Anurima Das -
While this growth rate was slower than the 4.9% recorded from July through September, when American consumers made substantial purchases, it surpassed the 1.5% anticipated by economists, as per FactSet estimates.
RBI Article Forecasts Robust Growth for Indian Economy in 2023-24
Anurima Das -
The piece, authored by a team led by Reserve Bank Deputy Governor Michael Debabrata Patra, underscores the shift in the Indian economy from consumption to investment as a key driver for the stronger-than-expected growth in 2023-24. The government's focus on capex is noted to be playing a pivotal role in encouraging private investment.
7.3% GDP Growth Very Positive, Economic Climate Encouraging: SBI Chairman
Kumar Manoj -
The GDP growth forecast of 7.3% surpassed earlier predictions, including the Reserve Bank of India's upward revision from 6.5% to 7%. Khara refrained from discussing the State Bank of India's business outlook due to the institution's current silent period.
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