Inflation

"Prices of major inputs like iron ore and steel have sobered in the global markets. This coupled with the measures taken by the government to rationalise tariff structures of inputs to augment domestic supply has helped to keep cost push inflation in consumer items under control," the Finance ministry said.

The apex bank said it will bring in some pain, but letting inflation stay high is worse. But this is bad news for new job seekers, the Business Insider said. 'Growth recession' is a phrase used to describe a period of below average growth, rising unemployment and slowing inflation. The US Federal Reserve chair said that while it would "bring some pain", letting inflation stay high would be worse.

According to data presented by AugustaFreePress.com, the expected e-commerce revenue drop comes as the market faces global challenges in 2022. During the pandemic, many consumers have changed shopping behaviour and switched to new brands in search of brand value, availability and convenience.

Speaking at a function here, she said that it was due to the "statesmanship of Prime Minister Narendra Modi" that while keeping up the relations with all countries, India managed to get the Russian crude. The Finance Minister said that the Prime Minister was fully conscious of the political fallout of the decision to get Russian crude and "here I give credit to the statesmanship of the Prime Minister that we kept our relations with all countries and managed to get Russian crude.

Addressing the India Ideas Summit, she said that the Centre's priority is job creation and income distribution. She further said that India is taking up the G20 president-ship in challenging times when global supply chains have been damaged and geo-political equations are volatile. Sitharaman said uncertainties in the energy sector were an area of concern for the Centre.

The release also said that the ratings agency could upgrade the rating if India's economic growth potential increased materially beyond their expectations, supported by the effective implementation of economic and financial sector reforms that led to a significant and sustained pickup in the private sector investment.

In the coming days, global markets will react to incoming data from the US, Europe and China to assess the impact of consistent rate hikes by major central banks. Energy crisis in Europe and increasing bills of utilities, food, beverages in the UK will affect consumption demand in the area, thus increasing the risk of recession. China's looming property crisis will add to global woes.

Sectors like hotels, power, retail, and oil & gas, among others, reported significant QoQ growth in revenues in Q1 FY2023. However, a few other sectors like airlines, construction, capital goods, and iron & steel witnessed a sequential decline. The sequential growth in revenues during the quarter was dismal at 1.5 per cent and the trends varied across sectors.

However, renewables are relatively more exposed to rising rates due to large capital expenditure. The report do not expect any default in the rated portfolio, which benefits from access to domestic banks and capital markets. "Banks will not be immune, but we expect that in the stress scenario NPLs could rise modestly," the report added.

The Office for National Statistics (ONS) said Government borrowing hit 4.9 billion pounds in July, reports dpa news agency. It is significantly ahead of the predictions of analysts, who had forecast 2.8 billion pounds in borrowing last month. Nevertheless, borrowing was 0.8 billion pounds below levels from the same month last year, but represented a 5.9 billion pounds surge from pre-pandemic levels in 2019, when the government reported a surplus of 0.9 billion pounds.