News Overview

Under a strategic partnership, Indian Oil and Panasonic Energy of Japan will investigate the possibility of producing lithium-ion battery cells in India.

With the economic landscape constantly evolving, the insights from the Economic Survey will be closely watched for their implications on India’s fiscal and economic policies.

Within deposits, HDFC Bank's current account savings account (CASA) deposits increased by 6.2% year on year in April-June.

Nearly half (48%) of Indian households reported a decline in earnings and savings compared to the previous year. Inflation (5.08% in June 2024) is a major contributor to financial stress, straining household budgets on essentials like food, rent, education, and transportation.

According to Ayukawa, Suzuki hopes to release its first EV in India and Europe next year after showcasing its mass production model.

The stand-out trend in mutual funds in the last couple of months has been the return of active equity funds

Brent crude prices were up 48 cents, or 0.57%, at $83.10 a barrel, while US West Texas Intermediate crude futures rose 42 cents, or 0.52%, to $80.55.

Spot gold was up 0.3% at $2,408.19 per ounce. Prices reached an all-time high of $2,483.60 last week. Gold futures increased 0.5% to $2,410.40.

Finance Minister Nirmala Sitharaman will present the full Union Budget for FY25 on July 23, 2024, after the interim Budget was presented in February 2024. Key aspects to watch include potential adjustments to the fiscal deficit target, a possible reduction in borrowing, and changes to capital expenditure. Political considerations might influence increased funding for certain states and sectors. There may be enhancements to the MGNREGA scheme, expansions to farmer support, and new cash-transfer initiatives for women. The government could also revise its privatization plans, focusing on improving public sector performance instead of asset sales.

China's currency was largely unaffected by the central bank's decision to lower a key interest rate.