Positive trends for India’s farm sector in H2, up to 3.5% agri growth expected in FY 21, says ICRA

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Credit rating agency ICRA, which last month projected a hefty 11 percent contraction in India’s GDP growth in 2020-21, is expecting the exceptionally good run of the country’s farm sector to contribute to growth in the second half of the current fiscal. The agency released its broader report on economic growth trends in the agriculture sector […]

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India’s stimulus measures seen providing modest push to economic growth

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Indian industry welcomed measures to boost spending in the economy with the government providing a festival advance plan to its employees as well as advancing a 50-year loan to states. However, the measures would only have a modest impact and would fall short of a bigger push needed to revive growth over the medium to […]

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India’s central bank leaves lending rates unchanged; expects farm-led economic recovery

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India’s central bank left the benchmark lending rate unchanged and vowed to maintain its accommodative monetary policy to facilitate the economy’s recovery in wake of the covid pandemic. The Reserve Bank of India (RBI) maintained the repo rate at 4% and the reverse repo rate at 3.35%. At the same time, the bank announced a raft […]

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Weekly Wrap – Global economy ticks along; India’s farmers’ unrest worrisome

The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank’s chief economist Carmen Reinhart said. “There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but a full recovery will take as much as five years,” […]

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MySteel Global – More positive signs show up in China’s August economic data

Many economic sectors in China including those of consumption, industrial production and investment showed more positive signs of returning to their normal tracks by the end of August, according to a series of highlights published individually by the country’s National Bureau of Statistics (NBS) earlier this week. Last month, China’s retail revenue from consumer goods […]

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India’s economic recovery will be gradual among rising Covid infections – RBI governor

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India’s central bank governor Shaktikanta Das said on Wednesday that the nation’s economy is set for a gradual recovery as efforts to reopen businesses are confronted with rising infections of Covid-19. Addressing a webinar of the Federation of Indian Chambers of Commerce and Industry (FICCI) on the path forward from the pandemic, Das noted that some […]

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Amid COVID-19, India’s GDP to contract by 9% in FY2020, next fiscal’s growth seen at 8%, says ADB

 India’s gross domestic product (GDP) growth for fiscal year (FY) 2020 ending on 31 March 2021 is forecast to contract by 9.0% as the coronavirus disease (COVID-19) pandemic weighs heavily on economic activity and consumer sentiment in the country, according to a new report by the Asian Development Bank (ADB). In its Asian Development Outlook (ADO) […]

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