Rising global commodity prices, led by crude, coal and metals, will shave a lot off the current account leading to higher imports and a rise in current account deficit, which is likely to print at 1.3 per cent of the GDP or $ 40 billion, up from 0.9 per cent surplus last fiscal, says a […]
Sri Lanka has sought a $ 500 million credit line from India to pay for its crude oil purchases amid a severe foreign exchange crisis in the island nation. The move came few days after Sri Lanka’s energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only […]
China’s recovery has broadened as economic activity has continued to normalise, the World Bank said, adding that its economic growth is projected to reach 8.5 percent this year before slowing to 5.4 percent in 2022, as low base effects dissipate and the economy returns to trend growth. Improved consumer and business confidence and better labor market […]
The second Covid-19 wave has thrown cold water over the Indian economy that was beginning to warm up after the most severe contraction since Independence, rating agency CRISIL said, adding that it was lowering it’s the country’s economic growth forecast by 150 basis points to 9.5 percent for the current fiscal. “The rash of afflictions […]
The official data released by the government shows that the country’s gross domestic product (GDP) has contracted by 7.3 percent in the financial year 2020-21. In the fourth quarter of FY21, however, a GDP growth of 1.6 percent was recorded. Meanwhile, CEA Krishnamurthy Subramanian said the economic impact of the second Covid-19 wave is not […]
India’s Gross Domestic Product (GDP) for the fourth quarter (January to March) grew by 1.6%, but contracted by 7.3% for the full 2020-21 financial year, government data showed on Monday, after being severely hit by lockdowns triggered by the Covid-19 pandemic that ground all economic activity. The annual contraction was the worst in more than […]
The OECD has revised up its growth projections across the world’s major economies since its last full economic outlook in December 2020 and now sees global GDP growth at 5.8 % this year (compared with 4.2% projected in December), helped by a government stimulus-led upturn in the United States, and at 4.4% in 2022 (3.7% […]
Amid a raging second wave of COVID-19 and subsequent restrictions on business activities imposed by several states, economic recovery is beginning to lose steam and the country’s GDP growth is likely to be below nine per cent for the current fiscal, according to a survey. At least 80 per cent of the respondents expect consumer demand for non-essential items […]
India’s agricultural exports grew 17.5 per cent to cross $41.8 billion in 2020-21. In the corresponding period the country’s overall merchandise exports fell 7.2 per cent to $290.8 billion, from $313.4 billion in 2019-20, The Indian Express reported. The farm sector’s standout export performance, the best since the $43.25 billion of 2013-14, was thanks to […]
Moody’s Investors Service sharply cut India’s FY22 growth forecast on Tuesday to 9.3% from 13.7% estimated earlier and joined other global rating firms in trimming growth expectations for Asia’s second-largest economy amid a menacing second wave of Covid-19. Moody’s cautioned that risks from deeper stresses in the Indian economy and financial system could lead to […]
