Retail inflation in India eased to 5.10% in January, down from 5.69% in December. Inflation rates in rural and urban areas also decreased. While the retail inflation is within the RBI s comfort level, it remains above the ideal 4% scenario. Analysts believe that the RBI may hold interest rates steady until at least the June policy review, but if the trajectory persists, rate cuts may be implemented. The arrival of early harvest and a favorable base effect are expected to alleviate price pressures.
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The Union budget for FY24 allocated ₹2.6 trillion for road construction, and the ministry of road transport and highways (MoRTH) plans to use the additional funds to build new roads, pay for projects awarded earlier, and acquire land.
The interim budget for next fiscal will be framed against the backdrop of a resilient Indian economy amid elevated global risks, and the final budget after the battle of the hustings, most likely in July 2024.
Expect 12–14% growth in aviation industry for 2024: Crisil's Padmanabhan thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.