17-Oct-2019Research Reports

17-Oct-19

BOB Economics | Macro Daily

India’s fuel demand in H1FY20 eased to 1.7% vs 3.8% in H1FY19. It is also lower than 2.9% increase seen in H2FY19.

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16-Oct-19

BOB Economics | Macro Daily

IMF has slashed India’s growth forecast downward by 90bps to 6.1% in FY20.

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15-Oct-19

BOB Economics | Trade: Trade deficit narrows as imports shrink

India’s trade deficit in Sep’19 reduced to US$ 10.9bn versus US$ 13.5bn in Aug’19.

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15-Oct-19

BOB Economics | Macro Daily

CPI inflation in India rose to a 14-month high at 4% in Sep’19 led by food inflation, particularly vegetable (15.4%) and meat and fish (10.3%).

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14-Oct-19

BOB Economics | Retail Inflation: Core moderates, food accelerates

Retail inflation rose to a 14-month high at 4% in Sep’19 led by food inflation, particularly vegetable (15.4%) and meat and fish (10.3%).

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14-Oct-19

BOB Economics | Wholesale Inflation: WPI inflation eases to a 39-month low

WPI inflation eased to 0.3% in Sep’19 from 1.1% in Aug’19 driven by lower fuel and power inflation at (-) 7.1% in Sep’19 (-4% in Aug’19).

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14-Oct-19

BOB Economics | Weekly Wrap: US-China trade deal lifts sentiment

Global sentiment improved as US and China reached a trade truce.

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14-Oct-19

BOB Economics | Macro Daily

World Bank has slashed India’s GDP forecast in FY20 to 6% from 7.5% earlier.

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12-Oct-19

BOB Economics | IIP: Broad based slowdown

IIP growth slipped to (-) 1.1% in Aug’19 vs 4.6% in Jul’19, lowest in this series.

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11-Oct-19

BOB Economics | Macro Daily

In order to boost compliance, government has made changes to the input tax credit scheme under GST.

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10-Oct-19

BOB Economics | Monthly Chartbook: Sentiment improves, growth to follow

Economic sentiment improved after Centre’s surprise announcement to cut corporate tax even as consumption slowdown continued for another month.

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10-Oct-19

BOB Economics | Macro Daily

RBI reported that currency in circulation (CIC) increased by Rs 197bn and stood at Rs 22tn for the week ending 4 Oct 2019.

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09-Oct-19

BOB Economics | Macro Daily

According to National Bulk Handling Corporation (NHBC), foodgrain production is expected to be higher by 8.4mn tonne (140.57mn tonne in AY20) from its average output in the past 5 years.

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07-Oct-19

BOB Economics | Weekly Wrap: Global activity dips in Sep’19

Global economy has slowed down further in Sep’19 with US ISM manufacturing index at a 10-year low.

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07-Oct-19

BOB Economics | Macro Daily

India’s services PMI index fell sharply in Sep’19 to 48.7 from 52.4 in Aug’19.

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07-Oct-19

BOB Economics | Macro Daily

India’s services PMI index fell sharply in Sep’19 to 48.7 from 52.4 in Aug’19.

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04-Oct-19

BOB Economics | Monetary Policy Review: Room for another rate cut

RBI reduced repo rate by 25bps thus taking cumulative rate cuts by the central bank to 135bps since Feb’19.

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04-Oct-19

BOB Economics | Macro Daily

RBI reported that currency in circulation (CIC) increased by Rs 12.9bn and stood at Rs 21.8tn for the week ending 27 Sep 2019.

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03-Oct-19

BOB Economics | Macro Daily

Total GST collections for Aug’19 fell to Rs 919bn (-2.7%) vs Rs 982bn in Jul’19 (+4.5%).

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01-Oct-19

BOB Economics | Macro Daily

India’s core sector growth contracted by (-) 0.5% and to a 52-month low in Aug’19 from 2.7% in Jul’19.

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30-Sep-19

BOB Economics | Interest Rate Outlook: Adherence to borrowing glide path implies lower yields

Centre has maintained its guidance of gross borrowings at Rs 7.1tn in FY20.

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30-Sep-19

BOB Economics | Balance of Payments: CAD expands in Q1, but will moderate

Despite an increase in CAD to US$ 14.3bn in Q1 from US$ 4.6bn in Q4, India’s BoP surplus remained stable at US$ 14bn.

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30-Sep-19

BOB Economics | Weekly Wrap: RBI policy and H2 borrowing to drive yields

Global manufacturing activity weakened further in Sep’19, especially in the Eurozone.

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30-Sep-19

BOB Economics | Macro Daily

Government has reviewed the progress in capex spending in H1FY20.

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27-Sep-19

BOB Economics | Macro Daily

RBI’s working group on Liquidity Management Framework has suggested to continue with the corridor system (call: target rate, repo: policy rate).

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26-Sep-19

BOB Economics | Macro Daily

RBI reported that currency in circulation (CIC) declined by (-) Rs 179.1bn and stood at Rs 21.8tn for the week ending 20 Sep 2019.

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25-Sep-19

BOB Economics | Macro Daily

ADB has revised its growth forecast downward for India to 6.5% from 7.2% earlier in FY20.

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24-Sep-19

BOB Economics | Macro Daily

According to the 1st advance estimates, foodgrain production for agriculture year 2019-20 is expected to be (-) 0.7% lower at 140.57mn tonnes compared with last year.

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23-Sep-19

BOB Economics | Weekly Wrap: India corporate tax cut to boost investments

Global economy seems to have slowed down further led by dip in China’s retail sales and fixed asset investments.

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23-Sep-19

BOB Economics | Macro Daily

To address the current economic slowdown, government has reduced the effective corporate tax rate to 25.2% from 29.5% currently.

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20-Sep-19

BOB Economics | Fiscal Reforms: As bold as it gets

India’s FM announced one of the boldest reform to kick start the investment cycle by reducing effective corporate tax rate by 4.3% to 25.2%.

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20-Sep-19

BOB Economics | Macro Daily

Government has announced measures to boost credit disbursement. It has asked state run banks to hold open meetings in 400 districts (200 districts will be covered by 29 Sep 2019) along with the NBFCs to focus on MSMEs and retail customers.

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19-Sep-19

BOB Economics | Macro Daily

RBI reported that currency in circulation (CIC) increased by Rs 111.5bn and stood at Rs 22tn for the week ending 13 Sep 2019.

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18-Sep-19

BOB Economics | Macro Daily

According to news reports, government is expected to increase the allocation of subsidised foodgrain by additional 2kg from the current 5kg of grains provided each month, under NFSA.

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17-Sep-19

BOB Economics | Macro Daily

India’s WPI inflation remained unchanged at 1.1% in Aug’19. Food inflation rose to 5.8% in Aug’19 (4.5% in Jul’19).

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16-Sep-19

BOB Economics | Wholesale Inflation: Food prices rise, oil and commodity prices fall

WPI inflation remained unchanged at 1.1% in Aug’19.

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16-Sep-19

BOB Economics | Weekly Wrap: Central Banks in focus

Even as ECB lowered its deposit rate by 10bps and announced a bond buying program, global yields inched up as US-China trade tensions eased.

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16-Sep-19

BOB Economics | Macro Daily

FM has announced measures to boost housing demand which includes relaxation of ECB guidelines for PMAY, in consultation with RBI.

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13-Sep-19

BOB Economics | Trade: Global and domestic demand weakens further

India’s trade deficit in Aug’19 remained stable at US$ 13.5bn versus US$ 13.4bn in Jul’19.

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13-Sep-19

BOB Economics | Macro Daily

RBI sold US$ 93mn in the spot market in Jul’19 vs purchase of US$ 2.5bn in Jun’19.

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12-Sep-19

BOB Economics | Inflation and IIP: Food accelerates, core stable

Industrial activity surprised positively at 4.3% in Jul’19 led by mining and manufacturing.

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12-Sep-19

BOB Economics | Monthly Chartbook: Transmission of lower rates to drive recovery

Consumption slowdown intensified in Aug’19 with further dip in auto demand.

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12-Sep-19

BOB Economics | Macro Daily

As per news reports, government will set up a fund to provide guarantees to borrowers with low credit score.

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11-Sep-19

BOB Economics | Macro Daily

RBI’s panel on housing finance securitisation market has suggested that an intermediary should be set up under NHB, wherein government will have a 51% ownership.

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09-Sep-19

BOB Economics | Weekly Wrap: All eyes on ECB

Global manufacturing output remained weak while services sector seems to be holding up for now.

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09-Sep-19

BOB Economics | Macro Daily

Indian government has set up a taskforce to prepare the roadmap of “national infrastructure pipeline” in the next 5 years.

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06-Sep-19

BOB Economics | Macro Daily

In a bid to provide stimulus for road infrastructure, NHAI is expected to address concerns on multiple fronts.

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05-Sep-19

BOB Economics | Macro Daily

India’s services PMI slipped to 52.4 in Aug’19 from 53.8 in Jul’19 largely on account of softer pace of increase in new business inflows, particularly domestic orders.

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04-Sep-19

BOB Economics | Macro Daily

According to news reports, state governments are expected to suggest measures to help curtail lower prices that arise due to surplus stock of sugar.

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03-Sep-19

BOB Economics | Weekly Wrap: US-China tariffs in focus

Global sovereign yields fell as economic outlook remains weak.

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03-Sep-19

BOB Economics | Macro Daily

India’s eight core industries rose by 2.1% in Jul’19 compared with 0.7% in Jun’19.

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30-Aug-19

BOB Economics | Q1FY20 GDP: Reforms and liquidity to drive recovery

India’s growth moderated to 5% in Q1FY20 on the back of a consumption and investment led slowdown.

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30-Aug-19

BOB Economics | Macro Daily

RBI in its Annual Report explained the transfer of a record amount of Rs 1.76tn to government (Rs 500bn last year).

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29-Aug-19

BOB Economics | RBI Annual Report: RBI dividend to boost growth

RBI will be transferring a record amount of Rs 1.76tn to government (Rs 500bn last year).

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29-Aug-19

BOB Economics | Macro Daily

In order to improve FDI inflows, Cabinet has permitted 100% FDI under the automatic route in contract manufacturing.

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28-Aug-19

BOB Economics | Macro Daily

As per news reports, government might provide stimulus to real estate sector reeling due to muted demand and liquidity woes.

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28-Aug-19

BOB Economics | India Economic Outlook: Lower rates, liquidity to drive cyclical recovery

The downturn in global and domestic economy is mirrored in India’s consumption, investment and export slowdown. A growth revival requires lower interest rates and liquidity.

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27-Aug-19

BOB Economics | Macro Daily

The Bimal Jalan Committee on Economic Capital Framework (ECF) recommended that realised gains can be distributed while unrealised gains cannot be (Rs 7tn as on 31 Jun’18).

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26-Aug-19

BOB Economics | Weekly Wrap: Global uncertainty increases

Amidst weak global macro indicators (PMI and US new home sales), China announced new set of tariffs on US goods.

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26-Aug-19

BOB Economics | Macro Daily

In an effort boost domestic economy, FM has announced a host of economic reforms.

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23-Aug-19

BOB Economics | Macro Daily

As per news reports, domestic air passenger traffic rose by 3.1% between Jan-Jul’19; slowest pace in 5 years.

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22-Aug-19

BOB Economics | Macro Daily

RBI minutes revealed that MPC has kept room open for further reduction in rates as economic activity continues to decelerate.

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21-Aug-19

BOB Economics | August MPC Minutes: Focus on growth to continue

With economic activity continuing to decelerate since June policy meeting, RBI reduced policy rate by 35bps.

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21-Aug-19

BOB Economics | Macro Daily

According to news reports, 15th Finance Commission (FC) is expected to discontinue the revenue deficit grants given to states.

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20-Aug-19

BOB Economics | Macro Daily

According to fourth advance estimates, while foodgrain output at 285mn tonne missed its target for 2018-19, it was still higher than the last 5-year average.

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19-Aug-19

BOB Economics | Weekly Wrap: FOMC and RBI minutes to take centre stage

Global economy is slowing down with weak industrial output in US, China and Japan.

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19-Aug-19

BOB Economics | Macro Daily

India’s forex reserves rose to a lifetime high of US$ 430.6bn in the week ending 9 Aug 2019.

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14-Aug-19

BOB Economics | Trade: Gold and oil imports decline

India’s trade deficit declined to US$ 13.4bn from US$ 15.3bn in Jun’19 on the back of higher exports and lower imports.

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14-Aug-19

BOB Economics | Wholesale Inflation: WPI inflation sees a steep fall

WPI inflation moderated to 1.1% in Jul’19 from 2% in Jun’19.

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14-Aug-19

BOB Economics | Macro Daily

India’s CPI slipped to 3.1% in Jul’19 from 3.2% in Jun’19.

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13-Aug-19

BOB Economics | Retail Inflation: CPI moderates, room to cut rates

Retail inflation slipped to 3.1% in Jul’19 from 3.2% in Jun’19.

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13-Aug-19

BOB Economics | Weekly Wrap: Global yields fell, India an outlier

Central Banks of Thailand, Philippines and New Zealand reduced policy rates to support growth which supported equity markets.

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13-Aug-19

BOB Economics | Macro Daily

As per news reports, government is aiming to launch new crop insurance scheme which will maximise benefits under Pradhan Mantri Fasal Bima Yojona (PMFBY).

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09-Aug-19

BOB Economics | IIP: IIP growth moderates

Industrial growth edged down to a four month low of 2% in Jun’19 compared with 4.6% in May’19.

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09-Aug-19

BOB Economics | Monthly Chartbook: Global easing cycle on the way

Consumption and investment demand remained subdued with decline in auto sales, non-oil-non-gold imports, capital goods production and imports.

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09-Aug-19

BOB Economics | Macro Daily

RBI’s consumer confidence dropped to 95.7 in Jul’19 (lowest since Dec’18) vs 97.3 in May’19.

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08-Aug-19

BOB Economics | Macro Daily

RBI surprised with a 35bps cut in policy rates (4-2 vote) while maintaining an accommodative stance.

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07-Aug-19

BOB Economics | Monetary Policy Review: Unconventional rate cut

RBI surprised with a 35bps reduction in policy rates (4-2 vote) while maintaining an accommodative stance.

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07-Aug-19

BOB Economics | Macro Daily

RBI in its current policy is expected to cut rates for the fourth successive time.

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06-Aug-19

BOB Economics | Macro Daily

India’s services PMI jumped back into expansion, rising to a 1-year high at 53.8 in Jul’19 from 49.6 in Jun’19.

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05-Aug-19

BOB Economics | Weekly Wrap: Fed cuts rate, RBI to follow

US-China trade war escalated as US announced additional tariffs on US$ 300bn of Chinese imports.

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05-Aug-19

BOB Economics | Macro Daily

India’s forex reserves declined to US$ 429.6 from a lifetime high of US$ 430.4bn in the week ending 26 Jul 2019.

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02-Aug-19

BOB Economics | Macro Daily

Total GST collections for Jun’19 reached Rs 1tn vs Rs 999bn in May’19.

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01-Aug-19

BOB Economics | Macro Daily

Central government’s fiscal data shows that it lowered its spending in Q1FY20 to 2% vs 8.7% in Q1FY19.

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31-Jul-19

BOB Economics | Macro Daily

Government has passed the code on wages bill which is expected to benefit over 500mn workers.

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30-Jul-19

BOB Economics | Macro Daily

According to data released by DIPAM, in FYTD20 the government has so far collected Rs 124bn through disinvestment vs the budgetary target of Rs 1.05tn.

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29-Jul-19

BOB Economics | Weekly Wrap: Awaiting US Fed stance

ECB held policy rates steady but emphasised that low inflation will call for more accommodation even though recession fear is low.

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29-Jul-19

BOB Economics | Macro Daily

GST council has reduced tax rate for electric vehicles (EV) from 12% to 5% and for EV chargers from 18% to 5%.

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26-Jul-19

BOB Economics | Macro Daily

Employees' State Insurance Corporation (ESIC) payroll data showed that 1.27mn jobs were created in May’19, higher than 1.12mn in Apr’19.

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25-Jul-19

BOB Economics | Macro Daily

Indian government has approved creation of sugar buffer stock of 4mn tonne in order to address the bumper crop production and pending cane arrears of over Rs 15.2bn.

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24-Jul-19

BOB Economics | Macro Daily

IMF has cut India’s GDP forecast by 30bps for FY20 and FY21 to 7% and 7.2% respectively.

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23-Jul-19

BOB Economics | Macro Daily

Government has kept a target of adding over 13mn new filers in FY20 vs 11mn filers added in FY19.

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22-Jul-19

Weekly Wrap: Global easing cycle gains steam

With growth slowing down, EM central banks such as South Korea and Indonesia…

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22-Jul-19

Macro Daily

In a major relief to IT and ITES sector, government has announced…

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19-Jul-19

Macro Daily

ADB has revised India’s growth projection downward...

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18-Jul-19

Economics: Macro Daily

RBI reported that currency in circulation increased by Rs 74bn (on a weekly basis) and stood at Rs 2

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