1/8/2024 0 Comments Iconomy dowload![]() Now the talk around the world is either the softer recession or just a global slowdown. The talk of a deep recession in many countries including advanced countries. then the commodity prices may go up," he said.īut having said that, he said, "I would like to add that the global economic outlook does not look as grim as it did about six months ago. "So if the oil prices go down significantly and if there is advantage of other commodity prices, it will work to (our) favour in terms of leading to lower inflation but if demand for oil due to the opening of countries (rises). Responding to a query on price rise, RBI Governor Shaktikanta Das said retail inflation is expected to be around 5.3 per cent in 2023-24 and may fall further if crude prices remain benign.ĭas said RBI has assumed USD 95 per barrel rate of crude for inflation projection for the next fiscal. On regulating cypto assets, she said India is in discussion with G20 nations for designing a common framework. The regulators are seized of the matter and they are on their toes as always not just now." This measure of the government was purely to reduce the tax burden on the middle class and is aligned to the promise which was made a couple of years ago of simplifying direct taxation, she said.Īnswering a question on the Adani Group crisis, the minister said, "Indian regulators are very, very experienced and they are experts in their domain. ".the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. To make it more attractive, standard deduction was also introduced in the new tax regime. In this year's Budget, the finance minister announced a number of changes to the new tax regime, including reduction of number of tax slabs. “A new window of FX volatility could be around the corner.Finance Minister Nirmala Sitharaman today said that Budget proposals under the new income tax regime will leave more money in the hands of the people and it is up to to the taxpayer to decide where to put his money, rather than the government incentivizing or disincentivizing him to do so. “Last week’s Turkish CPI print turned out to be somewhat of a shocker, re-igniting volatility in USD-TRY which had otherwise been conspicuously been absent in recent months,” Ghose said. Recent inflation data also raised concerns, said Tata Ghose FX analyst at Commerzbank, pointing to Friday’s annual reading coming in at 57.68 percent in January - well above forecasts despite a favorable base effect. ![]() Geopolitical tensions have been on the rise again recently with indications that the United States would push for a harder line on Russian sanctions enforcement adding to pressure on Turkish markets after Washington warned Ankara about the export to Russia of chemicals, microchips and other products that can be used in Moscow’s war effort in Ukraine. MezDNB31wh- Al Arabiya English February 6, 2023īorsa Istanbul announced that it had temporarily halted transactions in shares of several companies in the earthquake zone, though trading was expected to resume later in the day.Įmerging markets are under pressure more widely with currencies and stocks across the developing world feeling the pain from a sharp dollar rally on Friday in the wake of a strong US jobs report, suggesting the Federal Reserve could stay hawkish for longer.īut Turkey is feeling additional pressures. ![]() Watch: A video shared on social media shows the moment a building in #Turkey collapsed after an #earthquake hit the country and nearby Syria.
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