NEWS AFFAIRS 7 : WHERE EVERY STORY HAS IT'S AFFAIR!
Last updated on August 21st, 2024 at 04:27 pm
Retail Inflation
- Dropped to 3.54% in July, the lowest in nearly five years.
- Below the Reserve Bank of India’s 4% target.
- Decrease mainly due to lower food prices.
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Food Prices
- Rose by 5.42% in July, down from 9.36% in June.
- Vegetable prices, in particular, increased much less in July (6.83%) compared to June (29.32%).
Manufacturing Output
- Increased by 2.6% in June, down from 3.5% last year.
- Electricity generation rose by 8.6%.
- Mining activity grew by 10.3%.
Industrial Production (IIP)
- Grew by 4.2% in June 2024.
Wholesale Inflation
- Fell to 2.04% in July from 3.4% in June.
- The drop was due to lower base effects in food products.
Direct Tax Collections
- Net direct tax collections up by 22.48% to approximately ₹6.93 lakh crore as of August 11.
Gross Direct Tax Collections
- Total direct tax collections increased by 23.99% to ₹8.13 lakh crore from April 1 to August 11.
Foreign Exchange Reserves
- Decreased by $4.8 billion to $670.12 billion for the week ending August 9.
Mutual Fund Foreign Liabilities
- Increased by 36% to $25.4 billion by March 2024.
- Major investments came from the UAE, USA, UK, and Singapore.
Mutual Fund Foreign Assets
- Foreign liabilities rose by $3.4 billion to $6.4 billion in March 2024.
- Significant foreign investments from Japan, Canada, and the UK.
Trade Deficit
- Widened to $23.5 billion in July.
- Exports declined while imports increased.
Export Forecast:
- Projected total merchandise exports to reach $111.7 billion in Q2 of fiscal 2025.
Windfall Tax
- Reduced from ₹4,600 to ₹2,100 per metric ton on petroleum crude, effective August 17.
Foreign Portfolio Investment (FPI)
- Invested ₹64,824 crore in Indian equities over the past year.
FPI Outflows:
- Outflows amounted to ₹17,404 crore as of August 13, reversing previous months’ inflows.
Crude Oil Imports
- Purchased $2.8 billion worth of crude oil from Russia in July.
- India is the second-largest importer of Russian crude.
FPI Ownership Decline
- Foreign portfolio investor ownership fell to 18.8%, the lowest in nearly 12 years.
Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.
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