• The wholesale inflation rate in May 2109 was a 22-month low, at 2.45% from 3.07% in April 2019. Manufactured products, fuel and power prices bring the inflation down.
  • Low wholesale inflation indicates low retail inflation in coming months. While low core inflation confirms concerns of weak demand in economy.
  • On Friday (June 14, 2019), the Indian rupee depreciated by 9 paise to closed at 69.89 against the US dollar. Rising crude oil prices, foreign fund outflows and heavy selling in domestic equities kept the pressure on the Indian rupee.
  • Over 50% of the residential units sold between Q2FY18 and Q4FY19 were priced less than Rs 50 lakh, indicating that affordable housing is selling well in the country.
  • After the RERA/GST implementations in Q1FY18, developers offered more affordable and mid-income housing projects based on the demand.
  • Further, CLSS (credit-linked savings scheme) benefits, coupled with lower effective goods and services tax (GST) rate of 8% for affordable housing projects (1% GST for projects launched after April 1, 2019 has helped in attracting buyers.
  • Of the 774 American tariff items on which China has imposed extra duties, India can ship out more and replace the US, especially in 151 items, as per the study.
  • The trade war between the US and China has opened a window of opportunity for India to record additional exports in case of at least 354 items, ranging from capital goods to base metals, worth billions of dollars, according to a new commerce ministry study.
  • Since, there is a huge scope for India to replace the US, benefits to India are depending on greater competitiveness as well as its ability to scale up production to meet higher demand.
  • Of the 531 tariff items on which the US has imposed additional duties on China, India can export more than 203 items.
  • Similarly, domestic goods which can grab exports opportunities in the US market include industrial valves, vulcanised rubber, carbon or graphite electrodes and natural honey. Increasing exports would help India narrow the widening trade deficit with China, which stood at around $52 billion in 2018-19.
  • India’s coal import reached to 24.01 million tonnes (Provisional) in May 2019 with an increase of 14.5% over 20.96 MT in May 2018. Coal import was 26.3 million tonne (revised) in April 2019.
  • Of the total import 24.01 million tonnes (Provisional) during May 2019, non-coking coal was at 17.74 million tonne while coking coal import stood at 3.8 million tonne.
  • On Thursday (June 13, 2019), the Indian rupee declined by 16 paise to settle at 69.50 against the US dollar amid a sharp rise in crude oil prices.