Page 262 - Indian Economy

Moody's cuts India's FY22 GDP forecast to 9.3%; rules out rating upgrade

Owing to Covid pandemic, rating agency sees India's general govt deficit at 11.8% of GDP in FY22 as against previous forecast of 10.8%

Tens of millions on the fringes sink into poverty as Covid wrecks India

The government estimates India's gross domestic product shrank 8 per cent in the year ended March, its biggest contraction since 1952

Growing protectionism to make FTA with European Union tough, say experts

Experts said reducing tariffs and negotiations could be complex as the markets have changed over the past few years.

Economic activity down in April, May but shock less severe than 2020: Fitch

Fitch Ratings said the shock to economic activity from the latest wave of Covid-19 pandemic will be less severe than the one in 2020

Economy may rebound by Q4 of FY22: Bandhan Bank's Chandra Shekhar Ghosh

Bandhan Bank MD & CEO Chandra Shekhar Ghosh is hopeful that the economy will rebound by the third and fourth quarters of the current fiscal, enabling the lender to meet its targets. He said the bank had exercised caution amid the COVID-19 pandemic and made additional provisioning in the last quarter of 2020-21. "We remain cautiously optimistic for the current fiscal as we have made additional provisioning as safeguard. The second wave of Covid pain is expected to subside in the next two-three months, and this time people are better geared than the first wave that took everyone by surprise. "The worst seems to be over, and the economy will rebound by the time major lending business happens in Q3 and Q4, to meet our targets," Ghosh told PTI. On NPAs, he said the numbers will come down with time as borrowers are aware about missing repayments amid the pandemic scenario. "I recently went to an area where NPAs are high, and people acknowledged Bandhan's role in developmen

Statsguru: 6 charts explain how Covid-19 is hitting women harder than men

The study also shows the unequal economic impact of the crisis on women, compared to men

Enduring pain

Decline in income and employment will increase hardship

There's a weak link between economy and market, says Jitendra Gohil

The next trigger for a sell-off can be if we go into a nationwide lockdown to curb the virus, but the probability of such a measure is still low, says Gohil

India, EU decide to resume negotiations on Free Trade Agreement after 8 yrs

India and the European Union (EU) on Saturday announced their decision to resume negotiations for a balanced and comprehensive trade agreement after a gap of eight years

Meanwhile, the good news: A look at another side of the India story

T N Ninan looks at Credit Suisse India Strategist Neelkanth Mishra's four-part article series in Business Standard and how it spells hope at a time when a health care crisis has pervaded the country

India's fiscal response to Covid conservative, need large stimulus: Report

Bold measures will be required to emerge stronger from the crisis, said the report, 'State of Working India 2021: One Year of Covid-19,' released on Wednesday by Azim Premji University

Second Covid-19 wave may derail India's strong economic recovery: S&P

Lockdowns could thwart robust rebound

Goldman Sachs lowers India growth forecast for FY22 to 11.1% amid lockdowns

A number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections

Covid impact: Barclays cuts India's FY22 GDP growth forecast to 10%

Blaming the slow pace of vaccinations and uncertainty around the number of those infected and dead in the second Covid-19 wave

Govt mulls more Covid relief measures for businesses amid second wave

The Centre and the RBI are exploring options for businesses hit hard by the second wave

States to get Rs 15,000 cr more from Centre to boost capital expenditure

This is in the wake of the economy facing headwinds on account of a second Covid wave

'Third World', again? The virus has exposed India's underbelly for all to see

We show our weakness for declaring victory midway, as with Covid and Doklam, celebrate setback as victory, as at Depsang. And the old prickliness about foreign criticism remains, writes T N Ninan

Covid-19 fallout: Outdated CPI, GDP may have to wait longer for revision

Revision of CPI and GDP base years from 2011-12 and 2012, respectively, was dependent on the outcomes of the consumer expenditure survey of 2017-18, which the govt junked sometime back

Core sector output up 6.8% in March, hits 32-month high on low base

Will continue to grow in April despite localised lockdowns, say experts

Core sector output in March rises 6.8%, but contracts 7% in FY21: Govt

Coal production declined by 21.9 per cent in March, 2021 over the same period last year