News Wrap: India's Economic and Business Headlines Today

Economic Growth and Inflation

India's retail inflation rate eased to 5.88% in November 2023, falling within the Reserve Bank of India's (RBI) tolerance band of 2-6% for the first time in several months.

The decline in inflation is attributed to lower food and fuel prices. However, core inflation, which excludes volatile food and energy prices, remained elevated at 6.33%.

Economists expect the RBI to maintain a cautious stance on interest rates in the coming months, balancing the need to curb inflation with supporting economic growth.

Business News

Vistara's Last Flight

Vistara, a joint venture between Tata Sons and Singapore Airlines, operated its last flight on January 14, 2024. The airline's operations will be merged with Air India as part of the Tata Group's consolidation of its aviation businesses.

Sanjiv Khanna Sworn In as Chief Justice of India

Justice Sanjiv Khanna was sworn in as the 49th Chief Justice of India on November 25, 2023. He succeeds Justice Uday Umesh Lalit and will serve until August 13, 2024.

Justice Khanna's appointment has been welcomed by the legal fraternity, who recognize his experience and integrity.

Q2 Results

Several Indian companies have reported strong financial results for the second quarter of fiscal year 2023-24. Infosys, India's second-largest IT services company, reported a 23.4% increase in net profit to ₹6,586 crore.

Other companies that reported robust earnings include Reliance Industries, HDFC Bank, and Tata Motors.

These positive results indicate the resilience and growth potential of India's corporate sector despite global economic headwinds.