Growth-oriented govt agenda seen driving India’s steel demand up nearly 20% in 2021, says worldsteel

India’s steel demand fell by 13.7% in 2020, but is expected to rebound by 19.8% in 2021 driven by the growth-oriented government agenda even as private investment takes longer to recover, worldsteel said in its latest short range outlook released on Thursday, India suffered severely from last year’s extended period of severe lockdown, which brought most […]

Read more

Stronger global economic recovery seen one year into pandemic, but future still daunting, says IMF

IMG_1412.jpg

The International Monetary Fund (IMF) projected a stronger recovery for the global economy in its latest World Economic Outlook, but said the future was still daunting as the world still faces extreme social and economic strain one year into the Covid-19 pandemic. “We are now projecting a stronger recovery for the global economy compared with our […]

Read more

COMMENT – Divergent recoveries in Asia: History is not destiny

Economy1.jpg

Asian economies are performing better than expected. In the IMF’s latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent—in regional terms, a better outcome than other parts of the world. This is largely driven by stronger-than-expected performance among […]

Read more

India may not feel the pinch of high global food inflation

mayur-deshpande-abfp9EgIdPg-unsplash-scaled.jpg

Despite concerns about rising global inflation, India’s inflation rate is likely to remain range-bound to moderate in coming months as domestic food prices are likely to come down, economists said. However, the inflation level may remain above an optimal comfort level of around 4%. The Reserve Bank of India had recently revised its projection for Consumer […]

Read more

Central bank projects India’s economic growth at 10.5% next FY

The Reserve Bank of India (RBI) projected the country’s economic growth rate at 10.5% for the next financial year starting April 1, predicting a rebound following a year of contraction in the wake of the Covid-19 pandemic. The central bank had estimated the economic growth during the current financial year at -7.5%. India was the […]

Read more

India Inc says budget will strengthen vision for economic self-reliance

H2021020195607.jpg

The Indian industry said the budgetary measures to improve the ease of doing business, drive greater investments in infrastructure and increase privatisation in sectors such as insurance and management of ports will hasten the country’s economy to recover from the pandemic. In her latest budget speech, Finance Minister Nirmala Sitharaman also emphasised on improving the healthcare infrastructure, cleaning […]

Read more

India’s GDP to contract by 7.7% this FY, but will rebound to 11% growth next FY – Economic Survey

India’s economy is expected to contract by 7.7% during the financing year ending March 31, despite a sharp rebound seen in  the second half of the year following a contraction of 15.7% in the first half, according to the annual Economic Survey. It estimated the contraction in the second half of the fiscal year at […]

Read more