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The exodus of FPIs from the Indian equity markets continues unabated, as they withdrew Rs 64,156 crore (USD 7.44 billion) this month so far on depreciation of the rupee, rise in the US bond yields and expectation of a tepid earning season.
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India's real GDP growth is expected to slow to 6.4% in FY24-25, down from 8.2% in FY23-24, due to weaker urban demand and reduced investment activity. The central government is likely to fall short of its capital expenditure target by around Rs 1.4 trillion this fiscal year, leading to a projected budget deficit of 4.8% in FY25, which is slightly below the budgeted 4.9%.
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News and Media
US President Donald Trump announced plans to speak with Russian President Vladimir Putin to help resolve the Ukraine conflict. Trump mentioned he has had multiple discussions with Ukrainian President Volodymyr Zelensky. He also suggested that high oil prices, allowed by Biden, contributed to the war. Potential visits to Saudi Arabia or the UK were also mentioned.
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News and Media
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