RBI Bulletin: In the bulletin issued for December 2023, the Reserve Bank of India has said that in the coming year 2024, the Indian economy will get strengthened due to reduction in input cost and increase in profits of the corporate world. . It has been said in the bulletin that after the relief received in September and October, due to the rise in the prices of food items, the retail inflation rate has increased to 5.6 percent in November 2023. However, the retail inflation rate is expected to decline to 4.6 percent during the first three quarters of the financial year 2024-25. According to RBI Bulletin, the effect of strength in the economy is visible on the growth of the domestic financial market.
According to the RBI bulletin, the pace of the global economy may slow down in 2024. So, due to immediate reduction in inflation in different regions of the world, we may see a reduction in interest rates. According to an article written in the RBI Bulletin, there is very little chance in India that with high inflation rate, the economy will slow down and the unemployment rate will be high. There is a one percent possibility of this happening in India.
According to the RBI bulletin, the financial position of the central and state governments has been strong in the first quarter of the financial year 2023-24. From income tax to corporate tax and GST collection, there has been a tremendous jump in the first quarter. While the government's revenue expenditure is as per budget estimates, excellent growth is being seen in capital expenditure.
According to the bulletin, due to excellent tax and non-tax revenues in the first quarter of 2023-24, state governments have increased capital expenditure. States have also benefited from the special scheme run by the Central Government for Capital Investment Scheme. The increase in government revenue has helped in keeping the fiscal deficit within 7 percent in the first quarter and second quarter.
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