Interestingly, in the three decades since India liberalised, the wealthy have got wealthier at a faster rate.
India's overall international reserves, though stood at $411.9 billion at the end of March this year, down from March last year by $12.5 billion.
For the South Asian region, ADB said the outlook remains robust, with growth projected at 6.6% in 2019 and 6.7% in 2020.
Slowing rural growth, lower urban household spending take a toll on FMCG sales.
Business optimism for the July-September quarter in India decreased by 10.7 per cent.
Merchandise exports fell 9.71% to $25.01 billion in June compared with a year earlier, and imports were down 9.06% at $40.29 billion, the data showed.
The aggregate of private-sector companies forecasting output growth during this year fell to +15% in June from +18% in February.
"Overall, how was Sitharaman's budget? It was better than Arun Jaitley’s first budget. But is that praise?"
Wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 per cent in June, helped by decline in prices of vegetables as well as fuel and power items, according to official data released Monday.
The Wholesale Price Index (WPI)-based inflation was at 2.45 per cent in May. It was 5.68 per cent in June 2018.
The PCSI Investment Climate sub-index has dropped by a significant 5.8 percentage points and the PCSI Current Personal Financial Conditions sub-index has plunged by 6.3 percentage points over last month.
India wants to internationalise rupee eventually – to make it a currency other countries will use.
Between 2014-15 up to April 2019, inflation based on Consumer Price Index (CPI) has come down to 3 per cent, Sitharaman said.
Industrial production grew at 3.1 per cent in May, mainly on account of improvement in power generation, according to official data released Friday. The Index of Industrial Production (IIP) had expanded by 3.8 per cent in May 2018. The expansion in power generation sector stood at 7.4 per cent compared to 4.2 per cent in the year-ago month. Mining growth was at 3.2 per cent in May as against 5.8 per cent in the corresponding month of the last fiscal. However, there was a slowdown in the manufacturing sector, which grew at 2.5 per cent in May compared to 3.6 per cent a year ago.
There was a slowdown in the manufacturing, which grew at 2.5 per cent in May compared to 3.6 per cent a year ago.
Retail inflation has risen to 3.18% in June from 3.05% in May on higher food prices, hitting an eight-month high, the government said on Friday, but stayed below the central bank's medium-term target of 4% for an eleventh straight month. Annual retail inflation in June was 3.18%, up from 3.05% in the previous month, but below analyst forecasts.
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