After back-to-back hikes since June, the RBI had kept interest rates unchanged in the previous policy review in October, surprising markets that had expected a rate hike to support the tumbling rupee and combat inflationary pressures from high oil prices.
Foreign portfolio investors invested a net sum of Rs 6,913 crore in equities in November and Rs 5,347 crore in the debt market, taking the total to Rs 12,260 crore. This was the highest inflow since January. FPIs have been net sellers almost throughout this year barring January, March, July and August, when they put in funds totalling over Rs 32,000 crore.
The panel is headed by NITI Aayog Vice Chairman Rajiv Kumar and includes Cabinet Secretary P K Sinha, Economic Affairs Secretary Subhash Chandra Garg, Oil Secretary M M Kutty, NITI Aayog CEO Amitabh Kant and ONGC Chairman and Managing Director Shashi Shanker.
Leaders of the world’s largest economic powers have agreed to overhaul the global body that regulates trade disputes, but they faced resistance from President Donald Trump over the Paris accord on climate change.
In a series of tweets, the former finance minister said that as expected, the GDP growth in the July-September quarter (Q2) of 2018-19 was a good one per cent lower than in the April-June quarter (Q1).
Data released by the Central Statistics Office (CSO) on Friday showed the economy grew 7.1%, its slowest pace in three quarters, in the July-September quarter of 2018-19. GDP growth in the June quarter was 8.2%. The growth in the first half of the current fiscal year works to 7.6%.