The US Federal Reserve has kept the federal funds rate unchanged at 1.5% to 1.75%. The Committee feels that the current stance of monetary policy is appropriate to supp

US Fed keeps policy rate unchanged

The US Federal Reserve has kept the federal funds rate unchanged at 1.5% to 1.75%. The Committee feels that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labour market conditions, and inflation returning to the Committee's symmetric 2% objective.
As a result, most Asian currencies fell. The rupee fell 19 paise to 71.47 against the US dollar in opening trade on Thursday.

The US Federal Reserve has kept the federal funds rate unchanged at 1.5% to 1.75%. The Committee feels that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labour market conditions, and inflation returning to the Committee's symmetric 2% objective. As a result, most Asian currencies fell. The rupee fell 19 paise to 71.47 against the US dollar in opening trade on Thursday.

Rising momentum in business activity led by public spending has helped the Indian economy take the much-needed exit track from recession in the Oct-Dec quarte

Rising momentum in business activity led by public spending has helped the Indian economy take the&nbsp;much-needed&nbsp;exit track from recession in the Oct-Dec quarter last year.&nbsp;&nbsp;Economists&nbsp;surveyed expect&nbsp;the economy to show a modest 0.8% expansion in the final quarter of 2020. Government will release the data on late evening on Friday.&nbsp;&nbsp;Public spending took the lead in accelerating activity as disbursements rose 29% in October to December vs a contraction of 12% in the previous quarter.&nbsp;&nbsp; &nbsp;The RBI Governor also reiterates that growth had become very dependent on public expenditure even before the pandemic hit. In&nbsp;fact, spending analysis shows that every rupee spent by the govt results in a growth of Rs 3 in the economy.&nbsp;Consumption activity was aided by the festive season and it was noticeable in the sales of consumer durables and&nbsp;non-durables&nbsp;in the final quarter of the calendar year. Auto sales numbers indicated a big recovery in sentiment seeing the biggest single quarter jump in the last 2&nbsp;years,&nbsp;though the low base also helped.&nbsp;&nbsp;This is definitely light at the end of the tunnel and not an aberration as indicators in January are holding onto the turnaround during the festive period. Markit India PMI has been above the&nbsp;50 mark&nbsp;indicating an expansion since&nbsp;September.&nbsp;But will this growth hold that&rsquo;s the real question and the market remains divided on the response for now.&nbsp;&nbsp; &nbsp;

As resentment grows against the govt due to the hike in fuel prices, the Finance Ministry and the Reserve Bank of India are in agreement on the need for coordinated act

Finance Minister echoes RBI&nbsp;stance on fuel price hike
Govt: Centre &amp; states need to talk to reduce fuel prices
Sitharaman: no hiding that fuel is a key revenue source
'If consumer is to pay less, Centre and States need to talk'
RBI&nbsp;Guv: cost of&nbsp;fuel affects manufacturing, production&nbsp;
'Calibrated&nbsp;reduction of taxes crucial as it impacts inflation'

The shine for the yellow metal seems to be dulling with gold prices falling nearly ₹10,000 from the peak it scaled in August 2020. In fact, gold is now h

The shine for the yellow metal seems to be dulling with gold&nbsp;prices&nbsp;falling nearly ₹10,000&nbsp;from the peak it scaled in August 2020. In fact, gold is now headed for a second&nbsp;monthly decline as it sinks towards an&nbsp;8 month&nbsp;low.&nbsp;&nbsp;
Stronger returns in the US bond market&nbsp;with global central banks continuing to support growth has dulled demand for gold. Meanwhile, Goldman Sachs has cut its gold forecast, citing&nbsp;rising risk appetite for assets&nbsp;as a&nbsp;factor&nbsp;for the&nbsp;price&nbsp;underperformance.&nbsp;
Rising bond yields have always led to lower gold prices and with US yields hovering near 1 year high the demand for gold and thus the prices have seen a consistent correction. In fact, reports&nbsp;indicate&nbsp;&nbsp;holdings&nbsp;of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, have&nbsp;fallen&nbsp;to their lowest since May 2020

A cautious call on growth from the international ratings agency Moody’s ahead of Q3 GDP release tomorrow. Moody’s though expects India’s GDP numbers t

A cautious call on growth from the international ratings agency Moody&rsquo;s ahead of Q3 GDP release on Friday.&nbsp;Moody&rsquo;s though, expects India&rsquo;s GDP numbers to rise sharply&nbsp;to 13.5% next fiscal year; this is higher than the 10.5% projection from the RBI for FY&rsquo;22.&nbsp;&nbsp;They do&nbsp;however&nbsp;expect the cheer to moderate, as growth is likely to slow to 6.2% in FY&rsquo;23 as the low base effect also wears out.&nbsp;&nbsp;
Holding a negative outlook on India, Moody&rsquo;s warns that the&nbsp;&ldquo;Risk to growth forecast for India is tilted to the downside.&rdquo;&nbsp;
India will release GDP for the period of October-December 2020 on&nbsp;Friday,&nbsp;where data will indicate that the economy has finally exited recession with&nbsp;a&nbsp; projected&nbsp;growth rate of 0.5%.&nbsp;&nbsp;

“Government has no business to be in business” that was the clear and concise message from PM Modi as the govt batted aggressively for privatisation.

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified in its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
 There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

Home prices across the United States jumped 10.4% in December, traditionally as a slow month for realty. Case-Shiller Home Price Indices which measures

The realty market continue to heat up across the United states Home prices as tracked by Case-Shiller Home Price Indices&nbsp;&nbsp;jumped 10.4% in December. This is also one of the largest annual gains in the 30-year history of the index.
Phoenix, Seattle, and San Diego continued to show the strongest price gains among the 19 cities surveyed.
Record low interest rates and pandemic forced work from home has led to a surge in demand for&nbsp;homesacross the United States. Sales of previously owned homes, which make up the bulk of the housing market, rose in 2020 to their&nbsp;highest annual level since 2006.

India is on track to recover from a pandemic-led economic contraction and is likely to grow 10% in the financial year 2022, S&P Global Ratings said in a foreca

India is on track to recover from a pandemic-led economic contraction and is likely to grow 10% in the&nbsp;financial year 2022, S&amp;P Global Ratings said in a forecast on Tuesday. This is slightly lower than the 11% growth projected by the Economic Survey for FY22. The projected rebound in FY22, however, comes on a lower base, with the Indian economy estimated to contract 7.7% this fiscal.

The Wholesale price-based inflation (WPI) in January rose to 2.03 percent from 1.22 percent a month ago in December.

WPI inflation at 2.03% in Jan 2021 vs 1.22% in Dec 2020
Figure was pegged at 3.52% in January 2020
This is the highest level of WPI inflation since Feb 2020
WPI inflation in December 2020 stood at 1.22%
&nbsp;

The Reserve Bank of India on Friday left the benchmark interest rate unchanged at 4 per cent for a fourth time and keep the stance accommodative, in the first policy af

RBI&nbsp;keeps key lending rate left unchanged at 4%
RBI&nbsp;Governor:&nbsp;need for the hour is to supporting growth
Central bank projects GDP&nbsp;growth of&nbsp;10.5% fro FY22
Repo rate was last cut in the May 2020 policy meet
Reverse repo rate unchanged at 3.35% MSF and bank rate unchanged at 4.25%

Actress Vidya Balan's short film ‘Natkhat’ has entered the race for Oscars 2021. The film has been nominated for Best Short Film categ

Vidya Balan&rsquo;s&nbsp;'Natkhat'&nbsp;has made it to the Oscars 2021 race&nbsp;
Indian short film is based on a story of gender equality
Delayed due to Covid, Oscars to take place on February 28

Finance Minister Nirmala Sitharaman announced the PM Atmanirbhar Swasth Bharat Yojana which will spend Rs 64,180 crore on primary.

PM Atmabirbhar Swasth Bharat Yojana&nbsp;announced
₹64,180 cr to be spent on healthcare&nbsp;over 6 years
Govt&nbsp;to set up integrated public health labs
&nbsp;

The fiscal deficit for the financial year 2020-21 has been pegged at 9.5% with a plan to bring it down to below 4.5% by FY26, Finance Minister Nirmala Sitharaman&n

The fiscal deficit for the financial year 2020-21 has been pegged at 9.5% with a plan to bring it down to below 4.5% by FY26, Finance Minister Nirmala&nbsp;Sitharaman&nbsp;said.&nbsp;The government would need another ₹80,000&nbsp;crores for which it would be approaching the markets in February and March.&nbsp;The fiscal deficit in FY22 is estimated to be 6.8% of GDP. The gross borrowing from the market for the next year would be around ₹12 lakh crores, Sitharaman&nbsp;said.
&nbsp;

Finance Minister Nirmala Sitharaman on Monday announced that the government is setting aside a sum of ₹35,000 crore for Covid-19 vaccine. The FY22 health

Govt to spend ₹35,000 cr on covid&nbsp;vaccine: FM
₹2.23 lakh&nbsp;cr total healthcare&nbsp;expenditure in FY22

The government in Economic Survey 2021 projects the Indian economy to grow by a robust 11% in the financial year 2022. It also estimated India’s GDP to contr

The government in Economic Survey 2021 projects the Indian economy to grow by a robust 11% in the financial year 2022. It also estimated India&rsquo;s GDP&nbsp;to contract by 7.7% in FY21, the sharpest fall in four decades. This will comprise of a sharp 15.7% decline in the first half and a modest 0.1% fall in the second half.
India's fiscal deficit is projected to overshoot the initial estimates, 3.5% of GDP, in the financial year ending in March.&nbsp;In order to sustain the recovery in aggregate demand, the government may have to continue with an expansionary fiscal stance, the survey said.
&nbsp;

The government also plans stake sales in IDBI Bank, Central Bank of India and Punjab & Sind Bank, as per the report.

The government may announce to sell a 10-15% stake in Life Insurance Corporation in next week's union budget, as part of a privatisation push to improve public finances, as per a Reuters report. The government also plans stake sales in IDBI Bank,&nbsp;Central Bank of India&nbsp;and Punjab &amp; Sind Bank. Together, the plan is to raise up to ₹3 lakh&nbsp;crore&nbsp;in the next financial year, partly to set off the shortfall in the proceeds this year.

Union Budget 2021: Ahead of India's annual budget presentation next week, IMF chief economist Gita Gopinath has favoured the extension of the pandemic support measures.

Ahead of India's annual budget presentation next week, IMF chief economist Gita Gopinath has favoured the extension of the pandemic support measures. She has also pitched for thrust on investment in infrastructure and expanding health sectors programmes like Ayushman Bharat, and a very credible divestment path for commercially viable companies. The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support, Gopinath told PTI. She added that it would be a good time for banks and Non-Banking Financial Companies to raise capital given the attractiveness of financing conditions at this point

The IMF on Tuesday projected an 11.5% growth rate for India in 2021, making it the only major economy of the world to register a double-digit growth this year amidst th

The IMF on Tuesday projected an 11.5% growth rate for India in 2021, making it the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.&nbsp;China is next with 8.1% growth in 2021. The Indian economy&nbsp;is estimated to have contracted by 8% in 2020 due to the pandemic. With the latest projections, India regains the tag of the fastest developing economies in the world.

Securing a narrow escape from losses, the rupee stepped back from initial losses and gained marginally towards the fag-end of the session by two paise against the

Rupee&nbsp;closes at 72.97 against USD, backed by easing crude oil prices Rupee has strengthened by 31 paise&nbsp;over the last four sessions
Domestic unit settled at 72.99 against USD&nbsp;on Thursday

The Reserve Bank of India has said the country has come out of the pandemic crisis and the recovery is getting stronger. The revival in the economy will exceed most for

Revival in economy will exceed most forecasts: RBI
GDP close to 'attaining positive territory', RBI&nbsp;hopeful
'Inflation is easing closer to the target'
'Greater scope for policy support' if momentum sustains&nbsp;
&nbsp;

China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and

China's&nbsp;GDP rose 2.3% in 2020, growth beats&nbsp;expectations
2.3% growth lowest figure since China's reforms in 1970s
China GDP expanded 2.3% in Q4, fast recovery amid pandemic
&nbsp;

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