Page 15 - Economic Slowdown

Covid-19, economic 'comorbidities' put India's progress since 1991 at risk

By the time the debris of this economic earthquake settles, it may have buried the progress India has made since 1991

FMCG firms bring jobs to small towns as markets show signs of revival

In contrast, auto companies and their dealers have not been that bullish with hiring, despite tractor sales increasing in May

It's not the lockdown but enabling of a false theory, says Rajiv Bajaj

Bajaj, who has been vocal about the perils of lockdown, says the states shouldn't repeat the mistakes with more of it

SBI sanctions Rs 20,000 cr loans to MSMEs under credit guarantee scheme

SBI's SME loan portfolio shrunk by 7.27 per cent to Rs 2.67 trillion in March 2020 from Rs 2.88 trillion in March 2019

Indian economy in deep trouble; growth may contract 5% this year: S&P

S&P Global Ratings on Thursday said Indian economy is in deep trouble with growth expected to contract by 5 per cent this fiscal. "India's economy is in deep trouble. Difficulties in containing the virus, an anemic policy response, and underlying vulnerabilities, especially across the financial sector, are leading us to expect growth to fall by 5 per cent this fiscal year before rebounding in 2021," S&P said in a report. In its report titled 'Asia-Pacific losses near USD 3 trillion as balance sheet recession looms', S&P projected the region's economy to shrink by 1.3 per cent in 2020, but grow by 6.9 per cent in 2021. This implies a loss nearing USD 3 trillion output over these two years. "Asia-Pacific has shown some success in containing COVID-19 and, by and large, responded with effective macroeconomic policies," said Shaun Roache, chief economist for Asia-Pacific at S&P Global Ratings. "This can help cushion the blow and provide a bridge to the recovery. The ...

Retailers in Tier-II, III towns expect recovery in 9 months: Motilal Oswal

More than 80% stores of regional retailers have opened in smaller towns after the relaxations in Covid-19 lockdown, with footfalls at 50-60%, Motilal Oswal Financial Services has said

We're past the worst, but recovery will be uneven, ECB's Lagarde says

The euro zone is "probably past" the worst of the economic crisis caused by the coronavirus pandemic, but the recovery will be uneven, European Central Bank President Christine Lagarde said on Friday

RBI's moratorium helps public sector banks post lower NPAs in Q4

On aggregate basis, gross NPAs of 8 PSBs improve by 132 bps

The question of structural growth

As global investors rethink their India exposure, they should focus on the economy's long-term direction

Tractor makers buck the slowdown, expect volumes to increase 5-10%

Prospects of a normal monsoon and an expanded government food programme are helping in a modest recovery

Textile demand may decline 25-35% in FY21 due to slowdown: Report

The demand of yarn, fabric and apparels is set to remain muted throughout first half of the financial year 2020-21

India will reduce imports, turn Covid-19 crisis into opportunity: PM Modi

The Prime Minister also highlighted that India does not export coal but is the world's second-largest coal-importer

Fitch revises India's rating: A third view which is different yet again?

Fitch has used the pandemic impact to comment on lower growth for India, which can be -5 per cent this year due to the lockdown and its effects

Fitch revises India's sovereign rating outlook to negative from stable

Retains ratings at lowest investment grade

Emami takes hit in key portfolio, to focus on health, hygiene and wellness

Despite a good summer, which ideally would have boosted the company's revenues in the summer portfolio, Emami saw a decline in demand with the consumer preferring to spend on essentials instead

Work with states to tackle Covid-19 impact on economy: Punjab CM to PM Modi

PM Modi asked all other states to adopt the model, which was helping Punjab successfully control the spread of the pandemic to a significant extent

Sugar sector eyes relief package from Centre amid Covid-19 headwinds

The sugar industry has estimated consumption to fall by 0.5 million tonnes (MT) in the current season owing to the lockdown and the steep fall in institutional sales of sugar

PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme

On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector

Covid-hit states urge quick release Rs 20,000 cr IGST dues from Centre

They argue that while Centre recently released Rs 36,400 crore in pending IGST dues in lieu of compensation for December, Jan and Feb, more remained to be given to them

GDP contraction poses threat to MSMEs, govt support of little help: Report

The contraction may also lead to a 15% fall in corporate India's revenues