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RBI policy meet starts tomorrow: The Reserve Bank of India (RBI) might only consider cutting rates in the third quarter of the fiscal year 2025 (Q3FY25), as per a report from SBI Research. ....
India s poverty rate declined to 4.5-5% in 2022-23, with rural poverty declining to 7.2% and urban poverty down to 4.6%. This decline is attributed to government programmes targeted at those at the bottom of the pyramid. Spending inequality is shrinking due to enhanced infrastructure and increased discretionary spending. The new weights in HCES data are likely to lower inflation numbers. ....
India Business News: India has witnessed a surge in innovation, with an average of 247 patents filed per day in 2023, the highest in the last two decades, according to a r ....
The government plans to reduce gross borrowing to Rs 15.3 lakh crore in FY25, targeting a fiscal deficit of 5.5% of GDP. SBI researchers believe that net market borrowing will be around Rs 11.7 lakh crore, resulting in gross borrowings of Rs 15.3 lakh crore after repayments. Adjustments and switches may lower the borrowing to less than Rs 15 lakh crore. ....
The massive influx of visitors to Ayodhya after the consecration ceremony is likely to give an enormous boost to Uttar Pradesh's economy. A recent paper by SBI Research claims that the Ram temple and other tourism-centric initiatives could make UP richer by about ₹4 lakh crore this year. Ayodhya is expected to attract around 5 crore devotees annually, surpassing Vatican City and Mecca in terms of the number of visitors. The report highlights the potential growth in tourism and its positive impact on the local economies of Ayodhya, Varanasi, and Mathura. ....