Global economy expected to expand by 4 per cent in 2021: World Bank

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As the COVID-19 vaccine started rolling out in many countries, the World Bank expects that the global economy will expand four per cent in 2021, but will still remain more than five per cent below its pre-pandemic trend. “The global economy appears to be emerging from one of its deepest recessions and beginning a subdued […]

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Retail inflation benign in November; WPI inflation at 9-month high of 1.55%

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The prices of household items remained moderate in the month of November 2020. Consumer Price Index (CPI) inflation, also known as retail inflation, decreased from 7.61 per cent in October to 6.93 per cent in November, according to the Ministry of Statistics & Programme Implementation. The rise in food prices also moderated from 11 per […]

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India’s central bank keeps key rate unchanged amid optimism about economic recovery

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The Reserve Bank of India on Friday decided to keep the repo rate unchanged at 4% while pledging to keep its accommodative monetary stance unchanged for as long as necessary to cope with covid’s impact. The reverse repo rate was also kept at the the current leve of 3.35%. It noted that tbe global economy […]

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Weekly Wrap Up – India’s festive season brings light to the tunnel of dreaded recession

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Two successive quarters of negative growth has sent India into a recession. However, concerns about the depth of India’s recession is slowly being replaced by optimism that a recovery is taking hold. A slew of indicators from car sales to services sector activity notched higher last month, while alternative data signal robust demand in an […]

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India officially in recession, but second quarter economic contraction slower than expected

The Indian economy shrunk for the second straight quarter — three months to September — technically entering into recession for the first time, but the rate of contraction was slower than anticipated raising hopes for a quick revival. According to a government statement, the gross domestic product (GDP) fell 7.5 percent from a year ago […]

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India’s new fiscal stimulus shifts focus back to longer-term growth, says Moody’s

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India’s recent $36 billion-worth economic stimulus measures that aim to boost manufacturing and create more jobs present a potential upside to the country’s economic growth forecasts, Moody’s said in a report on Thursday. Only about a week ago, the global ratings agency had revised upwards its previous growth forecast for the South Asian nation. It had […]

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Indian industry welcomes government’s Diwali economic stimulus package

Indian industry welcomed a raft of economic stimulus measures announced by the Finance Minister Nirmala Santhanam on Thursday that are aimed at reducing imports and establishing the nation as a global hub for manufacturing. The boost was provided through a 12-point programme that included providing incentives to farmers through a massive fertiliser subsidy, fiscal incentives for […]

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