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 […]
At the very outset, allow me to dispel any lingering notion that India will replace China. That much-vaunted, zealous sabre rattling is just that – sabre rattling at worst and a distant dream at best. If at all, by all indications the economic disparity between India and China might expand, rather than contract, with time. […]
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) […]
With COVID-19 still dominating the major economies, the world economy is not likely to re-attain pre-pandemic output levels before 2022, says a report by Dun & Bradstreet Country Risk and the Global Outlook, August 2020. “Nothing about the pandemic can be classified as over, despite recoveries in activity levels in some economies in Q3, as […]
India’s foreign exchange reserves surged by USD 3.883 billion to touch a lifetime high of USD 541.431 billion, RBI data showed. on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The country’s reserve position […]
India’s GDP shrank b 23.9%, the worst ever contraction, during the April-June quarter of the current fiscal year as the period coincided with the world’s strictest-ever lockdown following the Covid-19 pandemic, government data showed on Monday. The only bright spot was agriculture with all other sectors including manufacturing, construction and services suffering a sharp contraction […]
India’s fiscal deficit is expected to touch 7 per cent of GDP in 2020-21 fiscal as against budget estimate of 3.5 per cent, with revenue collections being hit amid disruptions in economic activities due to lockdowns, according to Brickwork Ratings. “The impact of the lockdown on economic activity shows up starkly in the trends in […]
The contraction in economic activity in India that was visible in the first quarter of the 2020-2021 fiscal that ended in June is likely to prolong into the second quarter, according to the Reserve Bank of India (RBI). The uptick in economic indicators visible in May and June — which was visible after a nationwide Covid-induced lockdown […]
The Reserve Bank of India said on Thursday that the real gross domestic product (GDP) growth during this fiscal year will be negative despite a recovery since the outbreak of the deadly Covid-19 pandemic and hopes of robust farm output. The bank kept the repo rates unchanged, while announcing a major loan restructuring package for […]
Diesel sales, an approximate barometer of business and commerce, dropped 13 per cent in July 2020 from the previous month and were down 21 per cent year-on-year, forcing oil refiners to slash throughput. This seems to be a clear case of economic recovery slowing down after the spike in May-June this year. Manufacturing activities also […]
