Page 6 - Economic Growth In India

With 75% economy under lockdown, analysts see sharp fall in GDP

Even when the lockdown period ends, it will take time for the economy to be fully up and running. The public fear factor, analysts feel, will still result in below-normal activity for a few months

S&P lowers India's growth forecast to 5.2% for 2020 amid Covid-19 pandemic

S&P Global Ratings on Wednesday lowered India's economic growth forecast to 5.2 per cent for 2020, saying the global economy is entering a recession amid the coronavirus pandemic. The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar. Asia-Pacific economic growth in 2020 will be more than halve to less than 3 per cent as the "global economy enters a recession", S&P said in a statement. An enormous first-quarter shock in China, shutdowns across the US and Europe, and local virus transmission guarantees a deep recession across Asia-Pacific, said Shaun Roache, chief Asia-Pacific economist at S&P Global Ratings. "We lower our forecasts for China, India, and Japan for 2020 to 2.9 per cent, 5.2 per cent and -1.2 per cent (from 4.8 per cent, 5.7 per cent, and -0.4 per cent previously)," S&P said. On Tuesday, Moody's Investors Service had lowered India's economic growth forecast for 2020 to 5.3 per cent (from 5.4 per cent), in the wake of the .

A prudent Budget that is unlikely to revive faltering economic growth

Fiscal prudence has been given priority over fiscal stimulus which will contain the growth of debt liabilities, but it will not provide the strong public expenditure push required for reviving growth

Bold reforms needed to achieve 6-6.5% growth in FY21: Experts, industry

Leader Economic Advisory Services at PwC India Ranen Banerjee said attaining the projected growth rate of 6-6.5 per cent will be challenging

Eco Survey sees growth at 6.5% in FY21, calls for easing of deficit target

For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects

Amid slow economic growth, India Inc's return on capital shows improvement

In FY16, return on invested capital for the BSE 500 companies was 10.45 per cent; at the end of FY19, it had improved to 11.55 per cent

Best of BS Opinion: Learning from classroom, growth stabilisation and more

Here's a collection of Business Standard Opinion pieces for the day

High growth can bring inclusiveness in wealth creation: Shaktikanta Das

Higher growth also improves tax-GDP ratio which enhances the resource availability with Government to undertake social and infrastructure expenditure

Inadequate budget for judiciary crippling reforms, hurting growth: Report

The study drew on figures from across the four major constituents of the justice system--police, prisons, judiciary and legal aid.

Budget should look to push rural demand, not reduce I-T rate: Economists

Ajit Ranade, chief economist at Aditya Birla Group, said, "I don't think a cut in the personal income tax is a good thing to do at this juncture."

Best of BS Opinion: Reviving economic growth, containing China, and more

Judicial intervention, though effective, is one step away from being an arrangement in which the people have a say.

Budget 2020: Govt may go for income tax relief to spur demand, says report

Finance Minister Nirmala Sitharaman is expected to present the budget for 2020/21 fiscal year on February 1. She has promised a budget that will do more to boost growth.

Gilt funds lose steam after RBI pause on rate cut triggers yield spike

In the one-year period, gilt funds had outperformed most other debt categories with gains of over 10 per cent

Economy: This is as good as it gets

Structural reforms are much less about privatisation, land, and labour, and more about expanding the scope of private enterprises and allowing them to be more competitive and productive

India's economic growth sputters to 4.5%, weakest in more than six years

Some surveys show business confidence is at multi-year lows

Govt on track to make India $5 trillion economy by 2024: P K Misra

Describing the country's economic fundamentals as strong, Mishra said the annual average GDP growth of 7.5 per cent during 2014-2019 was the highest since independence

Slash personal tax, give confidence to stakeholders: India Inc at WEF

Govt officials said more structural reforms, after the ones announced recently, would be forthcoming.

ADB cuts India's economic growth projection to 6.5% from 7% for FY20

Says a cut in corporation tax rate will boost private investments and global competitiveness

OECD slashes India's economic growth forecast from 7.2% to 5.9%

At 2.9%, global growth to be weakest since 2008 crisis, it says

Budget numbers indeed look challenging to achieve: DSP MF's Saurabh Bhatia

Whilst the noise on feasibility of budget numbers and risks on sovereign borrowing would persist in the near term, the budget outcome has certainly eased the job for RBI MPC to ease rates further