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The tallies for each constituency are in, and the arithmetic for the next government is being worked out. If the Narendra Modi-led Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) manages to hold onto their alliances, the stage will be set for Modi 3.0. However, if the Congress-led INDIA bloc somehow lures major parties like JD(U) and TDP, they might have a chance, though it is a long shot at the moment. However, with the results out for all 543 constituencies, much has been revealed about the general attitude of the country’s voters. For instance, despite the almost-unshakable belief that the BJP will sweep almost all 80 <keyword id="19894922" type="General" weightage="20" keywordseo="Uttar-Pradesh" source="keywords">Uttar Pradesh</keyword> seats — especially after the Ram Mandir inauguration — the party shockingly only managed to win only 33. Some experts speculate that this outcome came from the party failing to address core issues such as employment and economic anxiety, and instead choosing to focus on religious divide to win ballots. Expert institutions, such as Bernstein and Citi Research, have now noted that new spendings may now thus become focused on the poor, women, farmers and rural areas, especially considering how rapidly BJP’s <a href="https://bfsi.economictimes.indiatimes.com/news/industry/bias-of-markets-expected-rural-agriculture-to-be-the-new-focus-areas-reports/110728041">vote share has dropped in the rural seats</a>. For context, rural constituencies make up 60% of the total constituencies in India, according to The Economic Times. However, this is not to say that the party has clear favourites among the more developed and richer states either. Many of the richest Indian states have expressed mixed to lukewarm reactions towards BJP this election cycle, and even delivered unexpected shockers. For instance, the NDA lost a lot of ground in Uttar Pradesh, <keyword id="19897316" type="General" weightage="20" keywordseo="Maharashtra" source="keywords">Maharashtra</keyword> and Rajasthan — some states with the biggest economies in the country. As for the current scenario, the party favourite remains mixed. Considering that the country has delayed the National Survey by four years, we have to rely on independent sources to come up with more current state-wide economic statistics. Therefore, as per the India Ratings and Research (Ind-Ra), <keyword id="19896017" type="General" weightage="20" keywordseo="Karnataka" source="keywords">Karnataka</keyword>, Uttar Pradesh, Maharashtra, Tamil Nadu and Gujarat formed the five largest state economies in India in the 2023 Financial Year. Let’s take a look at how India’s wealthiest states voted in <keyword id="20886626" type="General" weightage="20" keywordseo="Lok-Sabha-2024" source="keywords">Lok Sabha 2024</keyword>. <cmsannotation type="cmsannotation" annotationid="Karnataka" comment="subhead" text="Karnataka">Karnataka</cmsannotation> Despite struggles with making headway in the South, the BJP had made a clean sweep in Karnataka, bagging 25 seats in the 2019 general elections. While the BJP-JD(S) alliance has managed to retain a majority in the southern state with 17 seats, <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> made an impressive comeback this year, winning 9 seats compared to the 1 in the last election cycle. JD(S) managed to capture the remaining two seats. As for the four Bengaluru constituencies, BJP managed to cling onto all of them as well, with Tejasvi Surya in Bengaluru South, Shobha Karandlaje in Bengaluru North, P. C. Mohan in Bengaluru Central and C. N. Manjunath in Bengaluru Rural. <cmsannotation type="cmsannotation" annotationid="Uttar Pradesh" comment="subhead" text="Uttar Pradesh">Uttar Pradesh</cmsannotation> As mentioned earlier, the biggest controversies came out of Uttar Pradesh. Housing prominent figures such as Chief Minister Yogi Adityanath, the state has been widely considered as a stronghold for the saffron party, who had won a whopping 62 seats in 2019. However, resident voters were determined to take to the booths to voice their dissent this year. Of the 80 UP constituencies — by far the state with the largest number of seats — 37 were won by the Samajwadi Party. Meanwhile, the BJP held onto 33 seats, and the INC 6. The difference is stark: BJP lost 27 of the seats it won in the previous election cycle. Many prominent figures were dethroned this year, including Smriti Irani in Amethi, Union Minister Ajay Kumar Mishra in Kheri and Maneka Gandhi in Sultanpur. However, perhaps the biggest shocker came from the fact that the BJP also lost the Faizabad Lok Sabha seat, which housed the contentious Ram Temple. Awadesh Prasad of the Samajwadi Party will be chairing the constituency for the next five years. Prime Minister Narendra Modi, too, contested for the Varanasi seat, beating INC’s Ajay Rai by a margin of 2.5 lakh votes. <cmsannotation type="cmsannotation" annotationid="Maharashtra" comment="subhead" text="Maharashtra">Maharashtra</cmsannotation> Another of the biggest losses for the BJP also saw a resurgence for Congress in the state with the highest <keyword id="35050" type="General" weightage="20" keywordseo="gdp" source="Orion">GDP</keyword>. While the NDA had clinched 41 out of the 48 seats in the previous 2019 elections, it managed to bag a paltry 9 this time around. While this is a monumental loss for the ruling party, they managed to hold firmly onto most of the coastal Konkan belt. Headed by the Mahayuti alliance, the BJP won 7 of the 12 coastal seats, including in Palghar, Ratnagiri-Sindhudurg and Mumbai North. Meanwhile, the Shiv Sena (UBT) maintained its hold on half of the six Mumbai constituencies. Of the four Mumbai Metropolitan Region (MMR) seats, NCP (SP) won Bhiwandi, Shinde-led Shiv Sena won Thane and Kalyan and BJP won Palghar. <cmsannotation type="cmsannotation" annotationid="Tamil Nadu" comment="subhead" text="Tamil Nadu">Tamil Nadu</cmsannotation> Of all the economic powerhouses, Tamil Nadu was the only state untouched by the BJP this year. Out of the 39 seats in the state, the MK Stalin-led Dravida Munnetra Kazhagam (DMK) came out victorious in 22, the INC won 9, while a coalition of other parties bagged the remaining seats. This was a massive win for the DMK, especially considering the two major opposition parties, the AIADMK and BJP, had come together to contest this year. Considered by many as BJP's most promising candidate, K Annamalai, too lost to DMK’s Ganapathi P Rajkumar in Coimbatore. <cmsannotation type="cmsannotation" annotationid="Gujarat" comment="subhead" text="Gujarat">Gujarat</cmsannotation> While most of the other states endured major plot-twists, the story has remained almost the same for Narendra Modi’s home state, Gujarat. As per final polls, the BJP won 25 of the total 26 seats in the state, falling short of a full clean sweep due to INC clutching the final one. However, the INC win in the Banaskantha Lok Sabha seat was no small victory, considering this was the first time in a decade that the party had made ground in the western state. Meanwhile, Home Minister Amit Shah contested and won from state capital Gandhinagar by a massive margin of nearly 7.5 lakh votes.

Lok Sabha 2024: How BJP, Congress and other parties have performed in states with largest economies in India

If there is one word to aptly describe the ongoing 2024 Lok Sabha <keyword id="20515965" type="General" weightage="20" keywordseo="election-results" source="keywords">election results</keyword>, specifically for the incumbent party, it would be jolting, startling, and perhaps, even surprising. The exit polls were wide off the mark, and then some. Less than a week ago, India reported a remarkable <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> rate of 8.2% for the fiscal year 2023-24. Over the weekend, exit polls predicted a clear and easy majority for the ruling Bharatiya Janata Party (BJP) and its alliance NDA. Consequently, benchmark indexes, Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword>, both zoomed more than 3 per cent on Monday, breaching the all-time high records. On Tuesday, the tides turned! Putting a harsh full stop on the ruling party’s “abki baar 400 paar” narrative, the electoral situation on Tuesday evening shows less than 300 seats to the NDA and over 230 seats to the opposing INDIA bloc. What’s even more concerning for the ruling party is its tally dropping from 303 in 2019 to less than 245 this year. Consequently, on Tuesday, Sensex witnessed the steepest drop in over four years since the pandemic, recording a drop of 4,389 to settle just over 72,000. Nifty also dipped by almost 6%, standing at 21,884 points. If the trends hold, the BJP will lack a clear, simple majority on its own for the next five years, even if it manages to form a government with its pre-poll allies. The question is, how stable the new government would be, what would be the overall impact of this verdict on India’s economy, and what’s the story behind the jitters exhibited by the markets on Tuesday? <cmsannotation type="cmsannotation" annotationid="India’s incredible economic growth story" comment="subhead" text="India’s incredible economic growth story">India’s incredible <keyword id="19900794" type="General" weightage="100" keywordseo="economic-growth" source="keywords">economic growth</keyword> story </cmsannotation>Perched to be the world’s 3rd largest economy by 2027, India’s current GDP value stands at $3.9 trillion. As per FM <keyword id="20200167" type="General" weightage="20" keywordseo="Nirmala-Seetharaman" source="keywords">Nirmala Seetharaman</keyword>, the Indian economy is anticipated to grow at a rate of close to 7% in FY25 and hit $7 trillion by 2030. The <keyword id="3530620" type="General" weightage="20" keywordseo="Gross-Value-Added" source="Orion">Gross Value Added</keyword> (GVA) data supports the optimistic outlook, with a growth rate of 7.2% in FY24 compared to 6.7% in FY23. And notably, this strong economic growth has come at a time when most of the major economies across the globe are grappling with a slowdown. While few expect India to maintain a robust growth of 8.2%, most economists agree that GDP growth could moderate to around 7% in FY25. But most of these growth forecasts are contingent on a stable government and policy reforms at the centre. So, does the sharp fall in benchmark indices on Tuesday foretell a twist in India’s growth story? <cmsannotation type="cmsannotation" annotationid="Is there a twist in the tale?" comment="subhead" text="Is there a twist in the tale?">Is there a twist in the tale? </cmsannotation>Firstly, the <keyword id="16791710" type="General" weightage="20" keywordseo="foreign-portfolio-inflows" source="Orion">foreign portfolio inflows</keyword> (FPI), indicative of the global confidence reposed in the Indian markets, have been on a consistent decline over the past 3 months. As of 4th June 2024, foreign institutional investors had withdrawn a total of Rs 14,339 crores from the Indian equity markets while investing Rs 55,273 crores in debt instruments, which are traditionally reflective of safety, security, and a low-risk and change appetite. Foreign institutional investors had also withdrawn Rs 25,586 crores during May 2024, and Rs 8,671 crores during April 2024. If anything, the Indian market stands atop the strong confidence of domestic investors. The AUM (assets under management) of the Indian mutual fund industry stood at a record high of around $57 lakh crores in April 2024, even as the SIP AUM hit a record high of Rs 11.26 lakh crore. "The steep fall is due to the results so far falling short of the exit polls which the market had discounted yesterday. If BJP doesn't get a majority on its own there will be disappointment and this is getting reflected in the market. Also it is possible that Modi 3.O may not be as reform-oriented as the market expected and may turn more welfare- oriented," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. <cmsannotation type="cmsannotation" annotationid="Cautiously optimistic investors could prevail" comment="subhead" text="Cautiously optimistic investors could prevail">Cautiously optimistic investors could prevail </cmsannotation>But does this mean India’s growth story stands threatened or even jeopardized? Even though social media is flooded with memes that might lead one to believe it is all over for India’s story, the country remains the fastest growing economy amongst all G-20 nations in 2024, compelling almost all rating agencies to positively hike the country’s potential growth rate. But, equally noticeable is the fact that India’s private consumption, a major indicator of the economy’s growth, jumped by only 3.5% over the last 3 months of 2024. India now makes up 6.7% of the world’s GDP by purchasing power parity (PPP). As figures go, India is set to become a $10 trillion economy by 2030. Veteran investors like Raamdeo Agrawal, who heads Motilal Oswal Financial Services, believe that India’s potential growth rate of 8-8.5% is not going anywhere and that NDA’s leadership is here to stay. In his words, if an investor has managed to make 4-5x in the last 3-4 years, one will have to give in 20-30%. But that is where you will have to persist as an investor. "With the NDA still looking to form a government, though with the important support of coalition partners, markets look jittery about the prospects of strong decision making. Markets believe that the reformistic approach, which was a hallmark of the previous two terms, might take a backseat in the third term. However, our sense is that it is still early to jump to conclusions and should ideally wait for a clearer picture," said Manish Chowdhury, Head of Research, StoxBox. But all in all, the NDA government is most likely to stay for the full term, and those who bet on the same stand to stay safe despite the surprisingly strong performance of the INDIA alliance. However, in the end, the only one who wins in the market stays put in the market in the long run. Because NDA, or INDIA, compounding is here to stay, all set to immensely benefit long-term investors. (With inputs ANI)

Economic implications of Lok Sabha Election 2024 results: Would lack of a clear majority for BJP impact India’s growth story?

Mumbai, 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. <keyword id="19906485" type="General" weightage="80" keywordseo="goldman-sachs" source="keywords">Goldman Sachs</keyword> 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 <keyword id="19951097" type="General" weightage="80" keywordseo="us-fed" source="keywords">US Fed</keyword> 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 continuing to surprise higher than prior expectations. The brokerage expects robust capital flows in 2024, driven by strong equity portfolio flows as the Fed starts the easing cycle; robust debt inflows as the bonds are included in the JP <keyword id="20036913" type="General" weightage="80" keywordseo="morgan" source="keywords">Morgan</keyword>'s global government bond index from June 2024; and higher FDI inflows with the country continuing to benefit from regional supply chain diversification. These capital inflows should help offset lower net corporate dollar borrowing inflows owing to sizable maturities of earlier loans coming up in 2024, it said, adding overall, the balance of payment surplus should jump to USD 39 billion in FY24 but fall to USD 27 billion in the next fiscal. The country's oil imports fell to USD 164 billion in the January-November 2023 period from USD 189 billion a year ago as oil prices were 18 per cent lower during the period. Similarly, services trade surplus is tracking higher as exports have surprised to the upside, driven by both business and software services. With US growth remaining resilient, the report expects services export to remain strong and services trade balance will print in at USD 158 billion up from USD 148 billion. These two will balance out the rise in gold imports which so far stood at USD39.6 billion and may close the fiscal USD44 billion from USD37 billion in FY23. On the other hand non-oil and non-gold imports are tracking marginally higher than earlier forecasts driven mainly by electronic goods and machinery imports among the major sub-components, and may close the year at USD445 billion from USD440 billion. Net FDI inflows stood at USD17 billion up to October 2023 compared to USD36 billion a year ago, while both equity and debt inflows have picked up in Q3 and at the current run rates they may close at USD28 billion this fiscal up from USD24 billion. The report sees the country's external vulnerabilities remaining low with comfortable import cover at around 11 months, higher than the pre-pandemic average of 9.5 months, and the forex reserves as a share of external debt of 99 per cent is at its highest level in the past 10 years, excluding the pandemic years. On the rupee, the brokerage said it continues to see the rupee as a relatively low-volatility carry currency. But quickly noted that despite this "goldilocks" scenario, the rupee is likely to underperform most EM Asia currencies as they expect the <keyword id="19899808" type="General" weightage="80" keywordseo="rbi" source="keywords">RBI</keyword> to accumulate inflows and build forex reserves at every opportunity. They continue to expect the dollar/rupee pair to hover around 83-82 in the next three to six months, and then appreciate slightly to 81 over the next 12 months.

Goldman Sachs sees India current account deficit falling to 1% of GDP this fiscal

The rupee pared its initial losses and settled for the day on an almost flat note at 83.50 (provisional) against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Thursday, resisting pressure from elevated <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword>. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said a positive trend in domestic equities, wherein benchmark indices touched all-time high levels, and significant foreign fund inflows supported the rupee and restricted the fall. At the interbank foreign exchange market, the local unit opened at 83.52 and hit the intraday high of 83.48 and a low of 83.56 against the American currency during the session. It finally settled at 83.50 (provisional) against the dollar, 1 paisa lower than its previous close. On Wednesday, the rupee settled 1 paisa lower at 83.49 against the US dollar. "We expect the rupee to trade with a slight positive bias on softness in the US dollar amid weak economic data and rise in risk appetite in global markets," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. "However, elevated crude oil prices may limit the gains. Investors may remain cautious ahead of the US non-farm payrolls report tomorrow," Choudhary said, adding that USD-INR spot price is expected to trade in a range of Rs 83.20 to Rs 83.80. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 105.24. Brent crude futures, the global oil benchmark, were trading 0.47 per cent lower at USD 86.93 per barrel. In the domestic equity market, Sensex breached the historic 80,000-mark and Nifty scaled a fresh lifetime high. The 30-share BSE Sensex ended the day 62.87 points, or 0.08 per cent, up at its all-time high of 80,049.67 points. The broader NSE Nifty settled 15.65 points, or 0.06 per cent, higher at a fresh peak of 24,302.15 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday, as they purchased shares worth Rs 5,483.63 crore, according to exchange data. Meanwhile, according to an official of S&amp;P Global Ratings, a sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down the fiscal deficit to 4 per cent of GDP. S&amp;P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, said the trigger for an upgrade would be the government (Centre + states) deficit falling below 7 per cent of the GDP, and a lot of this would have to be driven by the central government. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank">Virat Kohli not included in the Rohit Sharma-led ICC Team of the Tournament</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a>

Rupee falls 1 paisa to close at 83.50 against US dollar

New Delhi [India], June 5 (ANI): The Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword>)-led National Democratic Alliance (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) secured a majority in the general elections, securing a third term for Prime Minister Narendra Modi. This victory indicates continuity in policy, particularly in <keyword id="21785272" type="General" weightage="20" keywordseo="infrastructure-spending" source="keywords">infrastructure spending</keyword> and boosting domestic manufacturing, which are expected to support robust <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. However, the NDA's slim margin of victory and the BJP's loss of an outright majority in parliament may slow down more extensive economic and fiscal reforms, potentially impeding <keyword id="20101140" type="General" weightage="20" keywordseo="fiscal-consolidation" source="keywords">fiscal consolidation</keyword> efforts. In fiscal 2023-24, India's real GDP accelerated to 8.2 per cent from 7.0 per cent the previous year, driven by significant gains in gross fixed capital formation as the government's infrastructure programs gained momentum, even as private consumption remained subdued. <keyword id="20227907" type="General" weightage="20" keywordseo="Moodys" source="keywords" meta.keywordsubtype="org" meta.entityname="Moody's" meta.hostid="261" meta.entityid="Moody's">Moody's</keyword> projects India's economic strength to continue, with an anticipated real <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> of around 7 per cent over the three-year period from fiscal 2023-24 to 2025-26. This growth is expected to benefit from ongoing infrastructure development and digitalization efforts. Despite this outlook, structural weaknesses pose risks to long-term growth potential. High youth unemployment and low productivity growth in the agriculture sector constrain economic expansion. The agricultural sector's modernization has been stalled by political challenges, as evidenced by the repeal of key reforms in 2021 following widespread farmer protests. Additionally, gains in manufacturing have been uneven, limiting labour force diversification away from agriculture, which still accounts for 40 per cent of total employment. Foreign direct investment (FDI) inflows have declined over the past three years, despite a favourable geopolitical climate amid US-China tensions. This trend suggests persistent constraints within India's investment climate. To address these challenges, further structural reforms and enhanced implementation of existing initiatives, such as the production-linked incentive schemes to promote manufacturing, calibrated liberalisation of cross-border trade, and reconsideration of labour reforms, are necessary. The government's focus on fiscal consolidation is expected to continue, but significant improvements in debt ratios and interest servicing have yet to be realised. Since the trough in fiscal 2020-21, the central government's deficit has likely narrowed for three consecutive years. The interim budget for fiscal 2024-25 projects a deficit of around 5 per cent of GDP, aiming for a 4.5 per cent deficit by fiscal 2025-26. However, India's fiscal consolidation post-pandemic has not outpaced other emerging markets in Asia-Pacific, and its fiscal and debt metrics remain weaker than those of Indonesia, the Philippines, Thailand, and other Baa-rated peers globally. India's general government debt is projected to stabilise above 80 per cent of GDP over the next three years, compared to 70.5 per cent in fiscal 2018-19. General government interest payments are forecast to fall to around 24 per cent of general government revenue over the next two years, down from over 28 per cent in fiscal 2020-21, but still higher than the pre-pandemic ratio of less than 23 per cent. While increased budgetary allocations for infrastructure indicate an improvement in spending quality, debt servicing remains a significant portion of expenditure, reflecting ongoing constraints on fiscal flexibility. This situation underscores the need for the incoming government to balance fiscal consolidation with growth-supportive measures. The upcoming final budget for the fiscal year ending March 2025 will provide further insights into India's fiscal policy direction through 2029. As the Modi administration embarks on its third term, the focus will likely remain on sustaining economic growth while addressing the persistent <keyword id="21500054" type="General" weightage="20" keywordseo="fiscal-challenges" source="keywords">fiscal challenges</keyword> that hinder India's long-term economic potential.

Modi 3.0 will offer policy continuity, but BJP's loss of outright majority may slow down fiscal reforms: Moody's

The rupee depreciated 6 paise to 83.39 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Thursday, tracking a negative trend in domestic equities and elevated crude oil prices. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said the rupee is expected to trade with a slight negative bias on sustained foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.34 against the dollar and touched an early low of 83.39 against the greenback, registering a decline of 6 paise over its previous close. On Wednesday, the rupee consolidated in a narrow range and settled 2 paise lower at 83.33 against the US dollar. Forex traders said the rupee moved in a range-bound manner on Wednesday and is expected to be in a small range on Thursday also, as markets await US GDP, US Personal Consumption Expenditure (PCE) Prices Index and Bank of Japan meeting outcome. Meanwhile, the <keyword id="19976503" type="General" weightage="20" keywordseo="dollar-index" source="keywords">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, was at 105.78, lower 0.07 per cent. Brent crude futures, the global oil benchmark, rose 0.11 per cent to USD 88.12 per barrel. On the domestic equity market front, Sensex declined 12.44 points, or 0.02 per cent, to 73,840.50. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords" meta.keywordsubtype="org" meta.entityname="Nifty" meta.hostid="153" meta.entityid="Nifty">Nifty</keyword> fell 11.75 points, or 0.05 per cent to 22,390.65. Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 2,511.74 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

You Searched For "india gdp fall" and got 6 results

Lok Sabha 2024: How BJP, Congress and other parties have performed in states with largest economies in India

Ankush Banerjee

Economic implications of Lok Sabha Election 2024 results: Would lack of a clear majority for BJP impact India’s growth story?

BI India Bureau

Goldman Sachs sees India current account deficit falling to 1% of GDP this fiscal

PTI

Rupee falls 1 paisa to close at 83.50 against US dollar

PTI

Modi 3.0 will offer policy continuity, but BJP's loss of outright majority may slow down fiscal reforms: Moody's

ANI

Rupee falls 6 paise to 83.39 against US dollar in early trade

PTI

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