Page 50 - India Economy

Amount in bank fraud up 159% to Rs 1.85 trn in 2019-20: RBI annual report

28% spike in number of cases; advances account for 98% of total amount involved in frauds

Indian economy likely to contract by 16.5% in Q1FY21: SBI report

Based on the leading indicators YoY performance, we expect the gross value added (GVA) de-growth to be between -14.5 per cent and -16.5 per cent in Q1FY21, says Soumya Kanti Ghosh of SBI

RBI's silence on bond purchases may have left traders disenchanted

The RBI held the repurchase rate at 4 per cent, as it chose to wait for inflation to cool before adding to steps aimed at supporting a fragile economy

Slow Jaguar Land Rover recovery will weigh on Tata Motors profits

While operational gains will continue, firm may not turn profitable this year

No early end to the 'new normal', yet the show must go on: Apollo Tyres CMD

Stating that the uncertainty due to the coronavirus pandemic will continue, Apollo Tyres Chairman and Managing Director Onkar S Kanwar has said he doesn't see an early end to the 'new normal'. In view of a bleak global, Indian and European outlook, the tyre major has adopted a "cautious approach" with focus on employee safety, conserving cash, re-engineering production and cutting down all avoidable costs while continuing to spend on R&D, e-training and brand building, among others. "FY20 was a tough year by all measures. While the auto industry had been on a slow growth path even in FY19, the last year proved to be a complete dampener for the industry due to poor consumer sentiment, increased cost of ownership on account of higher insurance cost, and higher financing cost owing to the liquidity crisis in the non-banking financial company (NBFC) sector," Kanwar said in his address to shareholders in the company's annual report for 2019-20. He, however, said the company is still ...

Markets nudge higher but fund managers have task cut out in assessing firms

'Disconnect between market and macro reality' makes all estimates about companies a risky business, say analysts.

As Covid-19 reaches hinterland, is India's rural growth story getting over?

A recent report by Credit Suisse cautions that the spread of Covid-19 infections to Tier-III and -IV cities could stall the growth momentum

Internet speed, traffic show pick up in economic activity continues

Power generation numbers, pollution, railway freight among indicators Business Standard tracks weekly to know latest status of the economy.

Best of BS Opinion: Administration in intensive care, power crisis & more

Here's a selection of Business Standard opinion pieces for the day

SMEs destroyed, firms under stress; had warned of economic tsunami: Rahul

In a tweet, Gandhi also claimed that banks are in distress and attacked the BJP for ridiculing him for highlighting the issue of NPAs a few months ago

A tentative recovery

Data suggests that the economy is bottoming out

India's fiscal deficit at Rs 4.66 trn, 58.6% of annual target in 2 months

Net tax receipts during April-May period were Rs 33,850 cr, while total expenditure was Rs 5.12 trillion

Weekly economic indicators: Spike in retail footfalls, net use tones down

Some moderation in gains even as unlock continues

India's farm trade may rebound in second half of 2020: Fitch Solutions

Stating that the farm trade was greatly disrupted during the lockdown due to logistic issues, Fitch Solutions said both exports and imports collapsed over March-June

The mythology of fear

Instead of its once haloed existence as the year of lofty goals and vision statements, it is now staring at an epitaph that may well read: The year when death ran amok and the gods went missing.

Best of BS Opinion: Pending agri reform, India's GDP growth, and more

Here's a selection of Business Standard opinion pieces of the day.

Internet speed to traffic data: What weekly indicators say about economy

Freight traffic has gone up; Google location data shows more people are stepping out of their homes.

Covid-19: India's services PMI improves from April lows to 12.6 in May

Services activity in the country has suffered a lot amid back-to-back nationwide lockdowns to prevent the spread of coronavirus.

Pandemic matters much more for mkts, economies than trade war: Dan Fineman

'From a six-12 month view, the markets can rise above the current levels on easing lockdowns and aggressive policy response'

Crisis growing as GDP data signals weakening demand, growth impulses

India's economy was already slowing down before it entered the Covid-19 year of 2020-21, writes D K Srivastava.