Category: Economy

Analysis: India bulks up against outflows as Fed, virus risks threaten repeat of 2013

MUMBAI, June 28 – India’s $600 billion in reserves should help it fight market volatility from any U.S. monetary tightening, but analysts and traders warn a slowing economy and an expanding fiscal deficit still make it particularly vulnerable to capital flight. Asia’s third-largest economy has bad memories of […]

Moody’s cuts India growth forecast for 2021 to 9.6 pc

New Delhi, Jun 23:  Moody’s Investors Service on Wednesday slashed India’s growth projection to 9.6 per cent for 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter In its report titled […]

Support from all sides needed to nurture economic recovery hit by 2nd wave of COVID: RBI Guv

Mumbai, Jun 18:  Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides — fiscal, monetary and sectoral — to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of […]

India’s factory activity growth slipped in May as demand fell-PMI

India’s factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. Although daily infection rates have started falling in the past few days there are concerns […]

S&P expects India’s economy to contract 9% in fiscal 2021

BENGALURU – S&P Global Ratings said on Monday that it was expecting India’s economy to shrink by 9% in the fiscal year ending March 31, 2021, larger than its previous estimate of a 5% contraction, as the country reels under the impact of the COVID-19 pandemic. The ratings […]

India’s economy shrinks record 23.9% y/y in June quarter

NEW DELHI – India’s economy contracted at its steepest pace on record of 23.9% in the June quarter as the pandemic lockdown cut consumer and business spending, putting pressure on the government and central bank for additional stimulus and a rate cut. The gross domestic product (GDP) data […]

ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER (APRIL-JUNE) OF 2020-21

open view news desk NEW DELHI, AUGUST 31: National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1 of 2020-21, both at Constant (2011-12) and Current Prices, along with the corresponding quarterly estimates […]

Recovery hopes dashed for India’s recession-hit economy: Reuters poll

BENGALURU – India’s deepest recession on record will linger through the rest of this year and begin to lift only in early 2021 as a rapid surge in the coronavirus spread squelches a nascent rebound in consumption and business activity, a Reuters poll showed. New Delhi has already […]

Indian economy’s medium-term outlook remains uncertain – RBI Governor

NEW DELHI – The Indian economy’s medium-term outlook remains uncertain even though the country has started re-opening after over two months of a nationwide lockdown, as demand and supply shocks due to the coronavirus still loom large, the central bank governor said on Saturday. Policy responses by the […]

India unveils $40 billion credit line for small businesses

NEW DELHI – India will offer bank loans amounting to 3 trillion rupees ($39.85 billion) to small businesses, Finance Minister Nirmala Sitharaman said on Wednesday, as part of measures to combat the damage caused by the coronavirus outbreak. Under the plan, the government will provide a credit guarantee […]

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