Mint Morning Digest: RBI MPC meeting, trade deficit, Zawahiri’s death and more

The three-day Monetary Policy Committee (MPC) meeting is scheduled to begin on August 3 with RBI Governor Shaktikanta Das and other members of the MPC. On August 5, the MPC’s decision on bi-monthly monetary policy for FY23 will be made public. The biggest issue at hand is inflation, which has reached several-year highs and is putting pressure on major central banks around the world to raise interest rates. Read more here.

Trade deficit record $31 billion, exports decline after 19 months

India’s trade deficit widened to a record $31.02 billion in July, as goods imports rose for the first time in 20 months despite sanctions and trade export contracts. Read more here.

FMCG sales see a boom in monsoon, on festivals

Market researcher NielsenIQ said India’s fast-moving consumer goods (FMCG) industry is expected to grow 8-10 per cent in value terms in 2022. year. Although NielsenIQ did not offer sales volume estimates for the year, the sector reported an overall decline of 2.4% in the six months to June 30, it said. Read more here.

Rupee returns on the return of FPI, crude oil prices lower

The rupee on Tuesday strengthened at 78.49 against the dollar and touched its strongest level in a month, fueled by lower crude oil prices and withdrawal of foreign portfolio investors (FPIs) in the Indian markets. The currency, however, failed to maintain gains, falling 0.32% from the previous day’s 79.02 to close at $78.71. The rupee has gained 1.19% since July 27 after weakening over 7% this year. Read more here.

Center revises unexpected tax levied on crude, diesel and jet fuel

According to a government notification issued on Tuesday, the government has once again revised the newly applicable windfall tax levied on crude, diesel and jet fuel (ATF). Read more here.

After Zawahiri’s death, US warns travelers of increased risk of violence

A day after the Taliban confirmed the killing of al-Qaeda leader Ayman al-Zawahiri in a CIA drone strike in Afghanistan, the US State Department warned Americans traveling abroad that they could be at increased risk of violence. Read more here.

CNG, PNG increased for the fifth time this year in Mumbai

Compressed natural gas (CNG) and domestic piped natural gas (PNG) prices have increased in Mumbai from the midnight of August 2. This is the fifth time that the prices of CNG and PNG have been hiked in the metropolis. Read more here.

Telecom loan to touch 6 trillion

The debt level of the telecom industry is set to climb 6 trillion, from Currently 4.7 trillion, companies have invested . have committed more than 1.5 trillion towards spectrum payments and interest over the next two decades. Read more here.

SpiceJet: DGCA receives de-registration request for Boeing 737-800 aircraft

The lessor of SpiceJet, Ireland-based Alterna Aircraft Ltd, has urged the Directorate General of Civil Aviation (DGCA) to cancel the registration of its aircraft. In its Monday appeal to India’s aviation regulator, Alterna did not explain why one of its Boeing 737-800 aircraft should be cancelled. Read more here.

Adani says foray into 5G is first step towards integrated digital infra

Adani Data Networks, the digital connectivity solutions arm of the Adani Group, has acquired the rights to use 400 MHz of spectrum in the 26GHz band to enter the industrial 5G segment. Read more here.

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