"Overall, the path of headline inflation is expected to moderate, but given the prevailing uncertainty, it is prudent to await more clarity based on incoming data," said Das, who along with the other five members voted for status-quo in the repo rate. … [Read more...] about Economic activity remains weak: RBI
Keynes economic policy
BEIJING: Riding high on Christmas sale orders, Chinese exports reversed their declining trend and grew 5.6 per cent in October, signalling recovery in the Asian economy's major export destinations. The positive data comes ahead of next week's 4-day policy meeting where leaders are expected to lay the the framework for economic reforms. Chinese growth has fallen from double digit growth rates to around 7 per cent in the last two years. China's exports rose 5.6 per cent year on year in October to 1.14 trillion yuan (USD 185.4 billion ), the new figures released by customs said today. The country's exports had fallen 0.3 per cent in September from a year earlier, ending two consecutive months of growth. The rebound was led by an acceleration of shipments to the European Union (EU), United States and Japan ahead of Christmas, according to a research note by Qu Hongbin, co-head of Asian economic research at HSBC, and Sun Junwei, China economist at HSBC. Imports rose 7.6 per cent last … [Read more...] about Chinese exports pick up in October, raises hope of economic recovery
I mean, who but a true maths bhakt would care about, say, the Fibonacci Sequence, in which each number is the sum of the two preceding numbers? In fact, there's even a journal devoted entirely to them. … [Read more...] about Who is Prasanta Pattanaik, Padma Shri?
By Anirban Nag India’s central bank is running out of room to ease interest rates further, but there’s little reason to worry as the current monetary policy isn’t seen as restrictive to money supply growth. That’s the finding of a report from Goldman Sachs Group Inc. based on a study of 10 different methodologies, including various real rates of interest, inflation expectations, financial conditions, slope of the yield curve, growth of money supply and estimated monetary policy reaction time. With the Reserve Bank of India having eased rates by 135 basis points in five moves last year, the Goldman analysts said there may not be a need for any “further significant loosening of monetary policy stance” -- unless economic conditions warrant so. “Adverse data on inflation or inflation expectations, or a renewed bout of weakness in economic activity, could trigger another cut in 2020 – but this research seems to suggest that any … [Read more...] about Goldman sees little room for RBI to ease rates
KOLKATA: The finance ministry is collecting data based on socioeconomic and banking parameters from West Bengal, Bihar and the north-eastern states to assess the extent of financial exclusion in this region, two senior bank executives said. The survey is being carried out five years into the introduction of the government’s flagship financial inclusion scheme, Prime Minister Jan Dhan Yojana (PMJDY). This is expected to be followed up by a ministry-level meeting in the Northeast in March where the top brass of Indian banking would also congregate. It would also review the progress in banking and digital penetration in the region's tea belt, the executives said. “This exercise is to understand how banks can participate in economic development in the region. Review of financial inclusion schemes, therefore, becomes important,” one of them said. The Economic Survey 2019-2020 has underscored the need for higher financial inclusion to address the highly skewed … [Read more...] about Finance ministry collecting data to assess extent of financial exclusion in West Bengal, Bihar and northeast