Center waives need for prior approval in Essential Commodities Act

The central government has temporarily waived the need for states to seek its agreement for issuing orders under the Essential Commodities Act. With this, state governments can issue orders and directions under the act without first seeking the approval of the center till June 30. The Essential Commodities Act, passed in 1955, seeks to ensure […]

SBI worried over weak demand, seeks rate cuts

State Bank of India, the country’s biggest bank has expressed concern over continuing weak demand in the economy due to “entrenched disinflationary impetus and weak demand,” and suggested that the RBI should cut key interest rates. While economic growth is moderately strong right now, it said, these factors will impact IIP (Index of Industrial Production) […]

RBI likely to cut interest rates early next month: CARE Ratings

The Reserve Bank of India is very likely to start cutting India’s key interest rates early next month, CARE Ratings said after India’s December consumer inflation number came in at a manageable 5%. It was widely expected that the recent fall in consumer inflation could undergo some reversals in December and January, and the falling […]

HSBC PMI – rise continues, but inflationary pressures seen

The HSBC India Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of manufacturing operating conditions – reached a 21-month peak in November, the bank said. However, inflationary pressures intensified during the month, following three consecutive months of easing, HSBC said. “Among the surveyed sub-categories, the sharpest increase in purchase […]