Page 1598 - Economy & Policy News
India's fiscal deficit stands at 120% of annual target at October-end
The deficit widened mainly on account of poor revenue realisation.
 "India's fiscal deficit stands at 120% of annual target at October-end")
US agency opens probe into 115,000 Tesla vehicles over suspension issue
The auto safety regulator said it was opening a preliminary evaluation into 2015-2017 Model S and 2016-2017 Model X vehicles
 "US agency opens probe into 115,000 Tesla vehicles over suspension issue")
Indian economy claws back faster than expected in Q2; contraction at 7.5%
The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity
 "Indian economy claws back faster than expected in Q2; contraction at 7.5%")
Indian economy shrinks for second quarter in a row, shows signs of pick-up
The economy contracted 7.5% in the July-September quarter
 "Indian economy shrinks for second quarter in a row, shows signs of pick-up")
Expert views on India's economy shrinking 7.5% in July-Sept quarter
The read-out for the September quarter was better than the 8.8% contraction forecast of analysts in a Reuters poll.
 "Expert views on India's economy shrinking 7.5% in July-Sept quarter")
NABARD, Agri Infra Fund Loans to be made available for PM-KUSUM scheme
PM-KUSUM or Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan Scheme is a flagship scheme of the central government to solarise agricultural areas and irrigation activities
 "NABARD, Agri Infra Fund Loans to be made available for PM-KUSUM scheme")
India's festive season gross sales in e-commerce cross Rs 61,000 cr: Report
Flipkart group (including Myntra) and Amazon accounted for more than 88 per cent of the entire gross merchandise value (GMV) for the festive month.
 "India's festive season gross sales in e-commerce cross Rs 61,000 cr: Report")
Q2 GDP data today: India may see worst contraction among other economies
Mean forecasts put India's Q2 GDP contraction close to 10%; in Q1, the country's GDP number decline was steepest among G20 nations
 "Q2 GDP data today: India may see worst contraction among other economies")
Concern being replaced by optimism as economy shows signs of recovery
The improvements are expected to continue, with some analysts seeing the country returning to growth as soon as this quarter
Indian economy probably picked up in Q2 as hopes grow for vaccine: Poll
Economists in a Reuters poll forecast gross domestic product in Asia's third largest economy to shrink 8.8% in the September quarter
 "Indian economy probably picked up in Q2 as hopes grow for vaccine: Poll")
Why an economy-wide net-zero emission target won't work for India
China waited to strong growth trajectory before pledging to reach net-zero emissions but India is about 15-20 years behind China in terms of development
 "Why an economy-wide net-zero emission target won't work for India")
Q2 GDP data to be released today: India may still enter technical recession
India's economy shrank at an unprecedented 23.9 per cent in the first quarter
 "Q2 GDP data to be released today: India may still enter technical recession")
Do mobility indices show stronger-than-expected consumption revival in Q2?
Apple Driving Index nearly caught up with Google Mobility Index for grocery mid August, further showing that Q2 GDP growth might not be as bad as expected
 "Do mobility indices show stronger-than-expected consumption revival in Q2?")
Over 19 quarters taken to clear unsold real estate inventory, says Ind-Ra
Residential sales were down 50 per cent year-on-year (YoY) to 68 million square (sq.) feet (ft) in H1FY21 across the major six cities.
 "Over 19 quarters taken to clear unsold real estate inventory, says Ind-Ra")
Bharat bandh hits bank services, cripples life in Kerala and Bengal
All government offices and major business establishments remained closed across Left-ruled Kerala, where public transport also went off the road.
 "Bharat bandh hits bank services, cripples life in Kerala and Bengal")
Guaranteed loans for stressed assets out of existing Rs 3 trn credit line
Scheme to be applicable to all 26 sectors identified by K V Kamath panel along with health sector, with past dues from Rs 50-500 crore as of 29 February, 2020
 "Guaranteed loans for stressed assets out of existing Rs 3 trn credit line")
FMCG sector to shrink 1-3% in 2020, says Nielsen in third review in a year
Headwinds such as commodity inflation outweigh positives. Downgrade comes amid positive growth reported by sector in Q3, which is expected to continue into Q4
 "FMCG sector to shrink 1-3% in 2020, says Nielsen in third review in a year")
Indian pharma has bounced back from lockdown lows. What led to turnaround?
From the lows of the lockdown, the industry has seen a robust bounceback
 "Indian pharma has bounced back from lockdown lows. What led to turnaround?")
State Bank of India expects RBI to hold interest rate, says Dinesh Khara
Khara's comment comes only days before the monetary policy committee of the Reserve Bank of India (RBI), the country's central bank, is due to meet between Dec. 2 and Dec. 4
 "State Bank of India expects RBI to hold interest rate, says Dinesh Khara")
CBI files FIR against rice export firm for over Rs 1,200 crore bank fraud
The CBI has booked Delhi-based Amira Pure Foods Pvt Ltd and its top executives including promoter Karan Chanana and Managing Director Rajesh Arora for allegedly cheating a consortium of a dozen banks
 "CBI files FIR against rice export firm for over Rs 1,200 crore bank fraud")