RBI Focuses on Inflation
Apr 29, 1:59 PM EDT |
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| RBI shifts its focus to fight inflation from the stimulating economic growth. RBI hopes to lower inflation to 5% in the near term. |
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| The Reserve Bank of India left its key rate unchanged at 6% and issued a guideline to fight inflation and control liquidity. The central bank hiked cash reserve ratio by 25 basis points to 7.75%. The RBI also said that the inflation for the current fiscal year should be brought down to 5% and in the longer term to 3%. The central bank also estimated the economic growth rate int he current fiscal year between 8% and 8.5%. |
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India's Exports Up 35% in February
Apr 01, 9:02 AM EDT |
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| Exports during February, 2008 were valued at US $ 14237.43 million 35.25% but Imports increase of US $ 18466.45 million 30.53%. |
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| Oil imports during February, 2008 were valued at US $ 6272.18 million which was 39.52 per cent higher than oil imports valued at US $ 4495.64 million in the corresponding period last year. Non-oil imports during February, 2008 were estimated at US $ 12194.27 million which was 26.35 per cent higher than non-oil imports of US$ 9651.19 million in February, 2007. |
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