India’s 4% inflation target remains appropriate as price pressures are under control alongwith strong growth, Deputy Governor Poonam Gupta said Tuesday.

India, the world’s top importer of urea, has agreed to buy the nitrogen-based fertilizer at sharply higher prices than in a previous tender as the Middle East conflict disrupts supplies and pushes global benchmarks higher.

Indian officials say the Iran war could be as disruptive to the country as the Covid pandemic was six years ago and the damage could linger for years to come, threatening to knock the world’s fastest-growing major economy off its path.

India’s government supports the central bank’s aggressive steps to crack down on currency speculation, people familiar with the matter said, suggesting authorities will stick to their approach despite lobbying by lenders to ease the restrictions.

India will borrow 8.2 trillion rupees ($86.5 billion) in the first half of the financial year beginning April 1, around half of the amount scheduled for the full 12-month period, the government said in a statement Friday.

India is set to scrap the bids it received for a majority stake in IDBI Bank Ltd. as the amounts were below the minimum price sought, according to people with knowledge of the matter.

India has “every reason” to attract foreign funds, Finance Minister Nirmala Sitharaman said, even as overseas inflows remain modest and lag behind regional peers following months of volatility.

India expects revenue collections to be buoyant in the year beginning April, potentially allowing it to scale back its borrowing program, according to a senior finance ministry official.

India expects revenue collections to be buoyant in the year beginning April, potentially allowing it to scale back its borrowing program, according to a senior finance ministry official.

India is seeking to merge two of its biggest power utility lenders to help unlock investments worth hundreds of billions in the nation’s energy sector.

India is considering allowing foreigners to own up to 49% stake in its state-run banks as policymakers seek to bolster capital at these lenders to fund growth, without fully giving up control.

India’s government predicted the economy could expand more than 7% in the coming financial year, offering an optimistic outlook at a time of heightened uncertainty for global trade.

India’s government predicted the economy could expand more than 7% in the coming financial year, offering an optimistic outlook at a time of heightened uncertainty for global trade.

The Indian economy is resilient and expected to be the world’s fastest-growing, buoyed by low inflation and underpinned by financial stability, according to a key adviser to Prime Minister Narendra Modi.

The Indian economy is resilient and expected to be the world’s fastest-growing, buoyed by low inflation and underpinned by financial stability, according to a key adviser to Prime Minister Narendra Modi.

India is likely to retain the existing inflation target for the central bank, with the setup seen as effective in managing prices, according to people familiar with the matter.

India is likely to retain the existing inflation target for the central bank, with the setup seen as effective in managing prices, according to people familiar with the matter.

India’s cabinet approved a proposal to allow 100% foreign direct investment in the insurance sector, a government official said, in a move aimed at accelerating capital inflows and expanding coverage in one of the world’s fastest-growing insurance markets.