Page 260 - Indian Economy

Statsguru: Six charts explain why monsoon is so important for economy

An even more virulent second wave means that economic growth, income and employment will again depend on agriculture to a large extent

Focus on the pandemic, not the economy

The big lesson of the second wave is that India must stop trying to prioritise economic recovery over emergence from the pandemic - any such effort is destined to fail

Rationalise rates

GST Council must address the shortfall in collection

A recovery interrupted

This first of a two-part essay assesses the emerging economic fallout of the second wave

Slackening economic momentum to limit discretionary purchases: ICRA

In addition, contact-intensive services can expect cutback in spending, said Chief Economist Aditi Nayar

India's consumer confidence worsens in May as Covid hits sentiment

The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India, in May, has shown a sharp drop of 6.3 percentage points, over April 2021, amid Covid-19 fears

How Covid crisis exhausted what Mr Modi had in plenty all these years

The three things that derailed the economy in the past - war, drought and oil - were mostly absent during his regime, but with the Covid crisis Mr Modi's luck seems to have run out, writes T N Ninan

RBI's higher payout to help govt tide over revenue losses: Analysts

After the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21, analysts said this will help the government tide over the revenue losses from lockdowns

Govt extends timelines for income tax compliance amid Covid-19 crisis

The I-T department also extended the ITR filing deadline for companies by a month till November 30

Centre considers a revamp of stressed asset guarantee scheme for MSMEs

As of May 14, guarantees of only Rs 68.39 crore had been issued, benefiting 632 businesses, a senior government official told Business Standard

Second Covid-19 wave: NBFCs brace for defaults, grim business prospects

The collections are down as staff is not able to reach out to customers.

Indian market demand for displays seen at $60 bn in 5 yrs: Report

Indian market demand for 'displays' over the next five years is projected to be cumulative USD 60 billion between 2021 and 2025

EPFO net new enrolments marginally decline to 1.12 million in March

Net new enrolments with retirement fund body EPFO declined marginally to 11.22 lakh in March from 11.28 lakh in February this year, according to payroll data released on Thursday.

Govt's fiscal deficit likely to be around 9% in FY21, say experts

Data to be released by month-end; FY22 gap may widen to 7.15% against BE of 6.8%, say experts

Second wave of Covid-19: Consider second loan recast, PSBs tell RBI

Want lower provisioning for restructuring than last year

Four-fifths of income losses during 1st wave incurred by pvt sector: Report

Almost 80% of all income losses during the first wave of the pandemic in 2020 were incurred by the private sector in India, while in many other countries the entire loss was on respective governments

Govt's worry on corporation tax revenue front may worsen in coming years

Concern over a falling share of corporation tax revenue may get worse

Encouraging exports

Govt must take steps to sustain the rebound

Economy will do well once vaccination reaches critical mass: Ashima Goyal

India's economy will do well once vaccination reaches a critical mass as pent up demand, global recovery and easy financial conditions will boost activities, RBI's Monetary Policy Committee (MPC) member Ashima Goyal said on Tuesday. As India battles a "fearsome" second COVID wave, she also said the damage to the economy due to lockdowns is much less and is unlikely to extend beyond the first quarter of the current fiscal. "India has the potential to be a centre of vaccine production and will be able to ramp it up soon. Once vaccination reaches a critical mass, the economy will do well with pent up demand, global recovery and easy financial conditions," she told PTI in an interview. The eminent economist said the current localized reversal of unlocks has successfully bent the curve. "It is less disruptive of supply chains since it is adapted to local conditions and need not go all the way to a full lockdown," Goyal said. Recently, S&P Global Ratings slashed India's GDP growth ...

Consumption hit from second Covid wave seen denting Indian economy

The economic drag from the pandemic in the current quarter will be dominated by demand destruction or deferment of expenditures, said QuantEco Research economist Yuvika Singhal