RBI signals support to PM Modi s Budget to aid growth
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Last Updated: Feb 05, 2021, 04:59 PM IST
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The RBI also upgraded its growth forecasts. It sees growth in the year starting April at 10.5% from an estimated 7.7% contraction in the current fiscal year. That is a tad lower than the government’s 11% estimate and comes amid early signs of a recovery gaining momentum.
Monetary Policy highlights: RBI restores CRR, allows online access to government securities market
India’s central bank kept interest rates on hold Friday and began withdrawing some pandemic-era policies, while reiterating its intent to keep its stance accommodative to support economic growth.
South African revenue collections that are expected to overshoot budget estimates could take the pressure off the National Treasury to raise taxes to pay for the acquisition and rollout of coronavirus vaccines.
The $9.2 Trillion Price Tag for Failing to Vaccinate World
Bloomberg 2/5/2021 Enda Curran and Michelle Jamrisko
(Bloomberg) The global economy’s recovery risks being dampened or even derailed by the lag in coronavirus vaccinations for poorer nations relative to their wealthier peers.
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Bloomberg’s Vaccine Tracker shows 4.54 million doses were given on average across the world each day over the last week, but it’s far from an even spread. The U.S. and U.K. make up about 40% of the 119.8 million doses administered globally.
Developing and emerging markets are, by and large, doing far less well. In Africa, only Egypt, Morocco, Seychelles and Guinea are recorded as having given any of the vaccines at all. Much of Central Asia and Central America has yet to begin vaccinating, or is moving slowly.
Feb 05 2021, 7:48 AM
February 04 2021, 2:30 AM
February 05 2021, 7:48 AM
(Bloomberg) Most economists expect Indiaâs central bank will hold interest rates for a fourth straight meeting this week as attention turns to how itâll react to an expansionary budget and a massive government debt plan.
(Bloomberg) Most economists expect Indiaâs central bank will hold interest rates for a fourth straight meeting this week as attention turns to how itâll react to an expansionary budget and a massive government debt plan.
Finance Minister Nirmala Sitharamanâs annual budget on Feb. 1 emphasized spending to revive growth in an economy hurt by the coronavirus pandemic. That would give some comfort to the Reserve Bank of India, which did most of the heavy lifting in the past year through 115 basis points of interest-rate cuts and ensuring liquidity in the financial system.
Feb 05 2021, 5:07 PM
February 04 2021, 9:02 PM
February 05 2021, 5:07 PM
(Bloomberg) South African revenue collections that are expected to overshoot budget estimates could take the pressure off the National Treasury to raise taxes to pay for the acquisition and rollout of coronavirus vaccines.
(Bloomberg) South African revenue collections that are expected to overshoot budget estimates could take the pressure off the National Treasury to raise taxes to pay for the acquisition and rollout of coronavirus vaccines.
Total tax revenue for the first nine months of the fiscal year is 875.7 billion rand ($58 billion), according to National Treasury data. While thatâs 10.6% lower than the same period in 2019-20, it compares with a 17.9% shortfall projected for the full year in Octoberâs medium-term budget policy statement.