With the latest print well above the 6 per cent mark for the ninth consecutive month, the RBI will have to explain to the government the reasons for the failure to bring it within the 2-6% mandate and the remedial measures to fix it.

"In terms of the debt ratio, India right now at the end of 2022, we're projecting it at about 84 per cent of GDP. That is higher than in many emerging economies," Paolo Mauro, Deputy Director, Fiscal Affairs Department, International Monetary Fund, said. Of course, India has a lot of special features being the most populous country in the world by now and being a very large, emerging economy, he said.

Of the total fees collected by investment bankers, equity capital market underwriting charges almost halved to USD 138.4 million, down 46.4 per cent from a year ago, as per data compiled by Refinitiv.

The deal, when clinched, would be India’s biggest and most ambitious free trade agreement. New Delhi is also seeking to claw back half a billion pounds in payments made by Indian workers toward Britain’s social security system as part of the deal, people familiar with the matter said.

Chamber's new president Saket Dalmia said production has bounced back and there is a "big" demand in the country. The statement comes a day after the International Monetary Fund (IMF) cut its economic growth forecast for India to 6.8 per cent in 2022.

"The validity for export of raw sugar to the US under TRQ has been extended from September 30, 2022 to December 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a public notice.

"India is facing a mixture of factors that may shake its sovereign credit metrics. Amid external turbulence, its foreign exchange reserves are falling, and its current account deficit is rising. Meanwhile, the economy is battling faster inflation and tightening financial conditions both at home and globally," S&P Global Ratings sovereign analyst Andrew Wood said.

"Export of consignments of broken rice...as permissible under notification dated September 8 has been...extended till October 15, 2022," PTI quoted the Directorate General of Foreign Trade as saying in a notification.

During the pandemic, the RBI had cut interest rates from 5.15% to a low of 4%. However, since May 2022, the central bank has been on a rate-hiking journey in order to tame the rising inflationary pressures. The homebuyers were aware of the fact that these low interest rates were transient and unsustainable in nature. They are expecting the hike and are thus prepared for it.