The widening of the spread on state-government paper over central government bonds may work as a dampener, according to treasury executives

The CICs shared their feedback and highlighted the initiatives that are being taken in collaborating with the credit institutions (CIs) for enhancing data quality

The land requirement for the project is about 10-12 acres. The SMPK would hand over the lease and the infrastructure would be developed by the state government

Forecast of higher demand come amid industrial slowdown fears in China

At the first weekly auction of the last quarter of 2023-24, the states saw their interest burden sharply rising to cross the 7.7 percentage mark on Tuesday, leading to the spread between the cut-off of 10-year state bonds and the G-sec yield crossing the 50 basis points mark for the first time in two years. At 53 basis points, the spread between the yield on the sovereign debt and that of the state bonds is the highest since January 2022. According to Aditi Nayar, the chief economist at Icra Ratings, both coupons at 7.71 per cent and the spread jumped to record levels due to the concerns of large supply in the final quarter of the fiscal year. At the maiden auction of the fourth quarter, six states collectively raised Rs 16,000 crore through state government securities (SGS) which is 19 per cent on-year higher, and in line with the amount indicated for the week in the Q4 auction calendar. Taking a cue from the all-time high indicative borrowing of Rs 4.1 lakh crore in the final ...

The yield spread widened to 53 basis points on Tuesday. The last time the yield spread widened above 50 basis points was in January 2022

Sugar production was 7.7 per cent lower at 112 lakh tonnes in the first three months of the ongoing 2023-24 season, owing to lesser output in two key states, according to cooperative body NFCSF. Sugar production stood at 121.35 lakh tonnes during the October-December period of 2022-23 season. NFCSF has projected the country's total sugar output to be at 305 lakh tonnes in the 2023-24 season, lower than 330.90 lakh tonnes achieved in the 2022-23 season. Sugar season runs from October to September. Releasing the latest data, the National Federation of Cooperative Sugar Factories (NFCSF) said a total of 511 factories had crushed 1,223 lakh tonnes of sugarcane till December 2023 of the ongoing season. Among the top three sugar producing states, the output in Maharashtra and Karnataka remained lower during the October-December period of this season. "Since the central government has limited the production of ethanol from sugarcane juice, the total availability of new sugar in the coun

The India-Bangladesh bilateral trade, already strained by economic headwinds during the year, has dampened in some land ports due to the upcoming general elections in the neighbouring country, exporters said on Tuesday. Bangladesh is set to hold its 12th general election on January 7 and the pre-election atmosphere has cast a shadow on the cross-border trade. Indian exports to Bangladesh between April and October 2023 declined by 13.32 per cent, while imports saw a marginally smaller 2.3 per cent dip, according to data from the Department of Commerce. "Trade activity has been affected for some time now due to Bangladesh's forex shortages and liquidity crunch. The election-related slowdown is expected to be temporary, but stricter rules like the 110 per cent margin on letters of credit compared to the earlier 10 per cent have been a major concern for traders," a commodity exporter told PTI on condition of anonymity. Stakeholders point to the general slowdown in trade activity during

Countries ranging from large economies like Europe, and the UK to smaller ones, including Oman and Peru, want to have a free trade agreement with India due to the country's large and rapidly growing market, a report by economic think tank GTRI said. The Global Trade Research Initiative (GTRI) said that by implementing a trade deal (FTA) with India, countries can access the Indian market with less or no import duties on substantial trade. This gives their companies an advantage over others in selling to the Indian market. Additionally, since India currently does most of its importing (over 75 per cent) from countries it does not have FTAs with, these agreements are particularly appealing as they offer a significant new market opportunity in India. "Everyone wants to do an FTA with India. Countries ranging from large economies like the US, Europe, Japan, and the UK to smaller ones like Oman, Peru, and Mauritius either already have or actively seeking an FTA with India. The main reaso

Indian Oil Corp, which was set to get the Sokol oil, had to withdraw from its inventory and buy from the Middle East to make up the shortfall, sources told Reuters last month

Stating that the country's external balances are stronger than expected on the back of strong inflows, a Wall Street brokerage on Tuesday projected a much lower current account deficit which is likely to print at 1 per cent for this fiscal, leaving the balance of payment surplus at USD 39 billion. Goldman Sachs in a report said the country's external balances remain favourable with a combination of low CAD, strong capital flows, adequate forex reserves and low external debt. Combined with this, expectations for a weaker dollar due to the likely five US Fed rate cuts this year suggest a "goldilocks" environment for the country's external balances. Accordingly, the Wall Street major has revised upwards its current account deficit (CAD) forecast to 1 per cent of GDP for FY24 from 1.3 per cent earlier, and 1.3 per cent for FY25 from 1.9 per cent earlier, citing a downward revision to their oil price forecast to USD81/barrel in 2024 from above USD90 earlier; and services exports continui