Coronavirus Outbreak: Govt’s economic stimulus package won't stop GDP from contracting in FY21, say analysts
4 years, 7 months ago

Coronavirus Outbreak: Govt’s economic stimulus package won't stop GDP from contracting in FY21, say analysts

Firstpost  

The government’s reform moves and stimulus package will only help the deeply-impacted growth process in the medium term of over three years and will not push up the GDP in the short term, analysts at two foreign brokerages said on Monday Mumbai: The government’s reform moves and stimulus package will only help the deeply-impacted growth process in the medium term of over three years and will not push up the GDP in the short term, analysts at two foreign brokerages said on Monday. The analysts at Bank of America and Nomura maintained their earlier GDP estimates suggesting a contraction of 0.1 percent and 5 percent, respectively, for FY21 even after the announcement of the Rs 20 lakh crore economic package. “The package may fall short of mitigating the near-term challenges for some businesses, but it is better designed to improve India’s medium-term growth potential and attract long-term risk capital,” analysts at the Japanese brokerage Nomura said. Maintaining its 5 percent contraction estimate, Nomura said the government has aimed for “maximum bang for the minimum buck” as most of the relief is either regulatory in nature or reflected in its contingent liabilities, rather than explicit budgetary support.

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History of this topic

Resurgence may have limited impact on economy
3 years, 4 months ago

Resurgence may have limited impact on economy

China Daily  

A medical worker administers a dose of COVID-19 vaccine for a student at a vaccination site in Nanchang, capital of East China's Jiangxi province, Aug 6, 2021. While uncertainty remains, we think the impact of the new COVID-19 infections on China's economy is likely to be limited, because more than 18 provinces have swiftly re-implemented stringent prevention and control measures …

Resurgence may have limited impact on economy
3 years, 4 months ago

Resurgence may have limited impact on economy

China Daily  

A medical worker administers a dose of COVID-19 vaccine for a student at a vaccination site in Nanchang, capital of East China's Jiangxi province, Aug 6, 2021. While uncertainty remains, we think the impact of the new COVID-19 infections on China's economy is likely to be limited, because more than 18 provinces have swiftly re-implemented stringent prevention and control measures …

Govt's Stimulus Package for Economic Revival 'Inadequate': Par Panel
3 years, 5 months ago

Govt's Stimulus Package for Economic Revival 'Inadequate': Par Panel

News 18  

The stimulus package announced by the government for the revival of the pandemic-hit economy has been found to be “inadequate”, according to a Parliamentary panel report. The report of the department-related Parliamentary Standing Committee on Industry on the impact of COVID-19 pandemic on micro, small and medium enterprises sector has noted that in the process of economic recovery post-first wave …

India's GDP grows by 0.4% in 3rd quarter, exits contraction phase
3 years, 10 months ago

India's GDP grows by 0.4% in 3rd quarter, exits contraction phase

India Today  

The Indian economy has finally bounced back into growth territory, ending technical recession, in the October-December period after two consecutive quarters of GDP contractions. In its first advance estimates released in January, it had projected a contraction of 7.7 per cent for the current fiscal as against a growth of four per cent in 2019-20. Economists and research firms had …

Economy to reach pre-Covid-levels by end of FY2022: Niti Aayog
4 years, 1 month ago

Economy to reach pre-Covid-levels by end of FY2022: Niti Aayog

India TV News  

India's economic growth is likely to reach pre-COVID-19 levels by the end of 2021-22 fiscal as the GDP contraction in this financial year is expected to be less than 8 per cent, Niti Aayog vice-chairman Rajiv Kumar said on Sunday. The Reserve Bank of India has also revised its forecast of economic growth for the current fiscal year to 7.5 …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

GDP Contraction Likely to Have Narrowed to 9.5% in September Quarter: Icra
4 years, 1 month ago

GDP Contraction Likely to Have Narrowed to 9.5% in September Quarter: Icra

News 18  

The contraction in the country’s Gross Domestic Product may have narrowed to 9.5 per cent in the second quarter of the current fiscal from 23.9 per cent in the April-June quarter, says a report. In a report on Thursday, rating agency Icra said the Year-on-Year contraction in Indian GDP is estimated to have narrowed appreciably to 9.5 per cent in …

Global economic bailout is running at $19.5 trillion. It will go higher
4 years, 1 month ago

Global economic bailout is running at $19.5 trillion. It will go higher

CNN  

London CNN Business — Governments and central banks have promised to shell out $19.5 trillion since the coronavirus erupted to “put a floor under the world economy,” according to the International Monetary Fund. While coronavirus vaccine candidates point to improved prospects for the global economy next year, they won’t help countries much in the immediate future. In the United States, …

India announces $35 billion economic stimulus package
4 years, 1 month ago

India announces $35 billion economic stimulus package

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy India’s finance minister on Thursday …

EU cuts 2021 economic outlook as virus spreads
4 years, 2 months ago

EU cuts 2021 economic outlook as virus spreads

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Sustainable economic recovery may narrow down GDP contraction in FY21, says FM
4 years, 2 months ago

Sustainable economic recovery may narrow down GDP contraction in FY21, says FM

Live Mint  

Asit Ranjan Mishra: Finance Minister Nirmala Sitharaman on Tuesday indicated that India’s GDP contraction may narrow down to near zero in FY21 if India’s ongoing economic revival remains sustainable in the second half of the financial year. However, following the unlocking of the economy starting June, India’s manufacturing PMI expanded to its highest level in over eight-and-half years at 56.8 …

A Lost Decade: Decoding the cost of Covid-19 pandemic
4 years, 2 months ago

A Lost Decade: Decoding the cost of Covid-19 pandemic

India Today  

A decade after facing the worst financial crisis since the Great Depression in the 1930s, the world has again stumbled upon an unprecedented economic challenge due to a microscopic virus. Citing International Labour Organisation estimates, the UNCTAD report indicated that the pandemic has put jobs of more than 500 million people in jeopardy, mainly in the developing world. In what …

India’s second round stimulus will provide minimal support to growth: Moody’s
4 years, 2 months ago

India’s second round stimulus will provide minimal support to growth: Moody’s

Live Mint  

India’s recently announced demand stimulus measures worth ₹46,675 crore or 0.2% of GDP highlight the country’s “very weak fiscal position” and will provide limited support to growth, Moody’s Investors Service said on Thursday. The government expects the new stimulus to add around 0.5% of GDP – a small boost compared with the 11.5% drop in real GDP that we forecast …

India's GDP to Contract 11% in FY21, 'Could be Even Worse' than Estimated: ICRA in Revised Forecast
4 years, 3 months ago

India's GDP to Contract 11% in FY21, 'Could be Even Worse' than Estimated: ICRA in Revised Forecast

News 18  

Mumbai: Domestic rating agency Icra further revised down its GDP estimate for the country on Monday and now expects the Indian economy to contract by 11 per cent in FY21. The agency, which was earlier estimating a contraction of 9.5 per cent, said the revision has been done as the rate of new COVID-19 infections remains elevated. The rating agency …

Crisil Revises FY21 Real GDP Growth Forecast For India To (-)9% With No Covid-19 Peak In Sight
4 years, 3 months ago

Crisil Revises FY21 Real GDP Growth Forecast For India To (-)9% With No Covid-19 Peak In Sight

ABP News  

Credit rating agency Crisil has revised the FY21 real GDP growth forecast for India to 9 percent from 5 percent projected in May.According to the rating agency, with the pandemic's peak not yet in sight and the government not providing adequate direct fiscal support, the downside risks to its earlier forecast have materialised. "If the pandemic were to peak out …

World economy: What else could go wrong before 2020 is done
4 years, 4 months ago

World economy: What else could go wrong before 2020 is done

Live Mint  

The world economy’s rebound from the depths of the coronavirus crisis is fading, setting up an uncertain finish to the year. Adding 1.4 million jobs in August was “a big step in the right direction,” said Ryan Sweet, head of monetary policy research at Moody’s Analytics. But the economy needs to maintain that kind of pace, he said, and “without …

GDP at historic low: Looking beyond the coronavirus shock
4 years, 4 months ago

GDP at historic low: Looking beyond the coronavirus shock

India Today  

India's historic GDP contraction in the first quarter of 2020-21 has been primarily attributed to the devastation caused by the novel coronavirus pandemic. While the sudden Covid-19 shock played a major role in paralysing growth since April, weak economic fundamentals had eroded the country's financial stability even before the pandemic. The depth of India's economic contraction in the first quarter …

India's GDP to Contract by 20% in First Quarter of FY21, Says Care Ratings
4 years, 4 months ago

India's GDP to Contract by 20% in First Quarter of FY21, Says Care Ratings

News 18  

India's GDP is likely to contract by 20 per cent during the first quarter of the current fiscal on account of the COVID-19 pandemic-induced disruptions, Care Ratings said. "Notwithstanding the fact that considerable uncertainty prevails regarding the quarterly economic performance, taking cognizance of the adverse impact of lockdown we are pegging the real GDP growth at 20 per cent YoY …

Fed chief says coronavirus surge starting to dent U.S. economic recovery
4 years, 5 months ago

Fed chief says coronavirus surge starting to dent U.S. economic recovery

The Hindu  

The surge in U.S. coronavirus cases and the restrictions aimed at containing it have begun to weigh on the economic recovery, the head of the Federal Reserve said on Wednesday, pointing to an apparent pullback by consumers and a slowdown in the rehiring of furloughed workers, particularly by small businesses. “We have seen some signs in recent weeks that the …

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank
4 years, 7 months ago

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank

ABP News  

New Delhi: The World Bank has said that the Coronavirus pandemic and strict lockdown measures taken to contain its transmission will leave a lasting effect on the global economy particularly the emerging market and developing economies, in its analysis of the situation. World Bank Group President David Malpass emphasised the need for comprehensive policies and indicated that 60 million people …

COVID-19 Impact: GDP growth dips to 3.1% in Jan-Mar quarter, slowest growth in 8 years; economy grows at 4.2% in FY20
4 years, 7 months ago

COVID-19 Impact: GDP growth dips to 3.1% in Jan-Mar quarter, slowest growth in 8 years; economy grows at 4.2% in FY20

Firstpost  

The gross domestic product had expanded by 5.7 percent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office on Friday. Economic growth slipped to 3.1 percent in the January-March quarter of 2019-20 showing impact of COVID-19 pandemic, the slowest growth in at least eight years, official data showed on Friday. The Reserve Bank had …

Coronavirus Lockdown: GDP data set to show economy grew at its slowest pace in 2 years in March quarter, says report
4 years, 7 months ago

Coronavirus Lockdown: GDP data set to show economy grew at its slowest pace in 2 years in March quarter, says report

Firstpost  

Unlike some advanced economies, India’s stimulus package has largely focussed on subsidised credit to small businesses and farmers, while direct fiscal stimulus was limited to around 1 percent of the GDP, economists said. New Delhi: Gross domestic product data out later on Friday is expected to show the economy grew at its slowest pace in at least two years in …

Govt measures to deal with coronavirus impact 'very positive', says former RBI governor Bimal Jalan
4 years, 7 months ago

Govt measures to deal with coronavirus impact 'very positive', says former RBI governor Bimal Jalan

Firstpost  

Former Reserve Bank Governor Bimal Jalan on Thursday described the initiatives taken by the government to mitigate the impact of COVID-19 as “very positive” and hoped that these would help in containing the decline in growth New Delhi: Former Reserve Bank Governor Bimal Jalan on Thursday described the initiatives taken by the government to mitigate the impact of COVID-19 as …

Coronavirus will send WA economy into a recession for 2020–21, Treasurer Ben Wyatt confirms
4 years, 7 months ago

Coronavirus will send WA economy into a recession for 2020–21, Treasurer Ben Wyatt confirms

ABC  

Western Australia's Treasury expects coronavirus to send the state's economy into recession, with a contraction of 3.1 per cent predicted in the 2020–21 financial year as the economy takes a $12 billion hit. Key points: The economy is set to grow 0.7 per cent this financial year before contracting The economy is set to grow 0.7 per cent this financial …

Coronavirus Lockdown: India faces worst recession in current fiscal; economy to shrink by 5%, says CRISIL
4 years, 7 months ago

Coronavirus Lockdown: India faces worst recession in current fiscal; economy to shrink by 5%, says CRISIL

Firstpost  

India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said on Tuesday as it predicted the economy to shrink by 5 percent in the current fiscal because of coronavirus lockdown New Delhi: India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said …

India’s GDP Growth For FY21 Will Remain In Negative, Says RBI Governor Das
4 years, 7 months ago

India’s GDP Growth For FY21 Will Remain In Negative, Says RBI Governor Das

ABP News  

New Delhi: Reserve Bank of India Governor Shaktikanta Das announced that the GDP growth of India for the year 2020-21 may remain in the negative. During his live conference today, Das shared observations of the global and domestic market that have been severely impacted by the coronavirus pandemic and lockdown. In the domestic market economic activity has been hit by …

Coronavirus impact: Barclays pegs India's current account surplus at $20 bn this fiscal, first-time in 14 years
4 years, 7 months ago

Coronavirus impact: Barclays pegs India's current account surplus at $20 bn this fiscal, first-time in 14 years

Firstpost  

As imports continue to plunge due to the coronavirus-driven disruptions globally, India may end the current fiscal with a record surplus of about $20 billion or 70 bps of the GDP, says a report Mumbai: As imports continue to plunge due to the coronavirus-driven disruptions globally, India may end the current fiscal with a record surplus of about $20 billion …

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs
4 years, 7 months ago

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs

Firstpost  

American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever Mumbai: American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever. A slew of watchers are expecting a contraction in the Indian …

Congress claims Rs 20 lakh cr stimulus package announced by Narendra Modi only 1% of GDP, not 10%
4 years, 7 months ago

Congress claims Rs 20 lakh cr stimulus package announced by Narendra Modi only 1% of GDP, not 10%

Firstpost  

Chidambaram said the stimulus package has left several sections like the poor, migrants, farmers, labourers, workers, small shopkeepers and middle class high and dry. The fiscal stimulus package of Rs 20 lakh crore announced by Prime Minister Narendra Modi last week is between 0.7-1.3 percent of the GDP, not 10 percent as claimed by the Centre and others, alleged Congress …

Coronavirus Outbreak: Govt's fiscal stimulus package 'hopelessly inadequate', says P Chidambaram
4 years, 7 months ago

Coronavirus Outbreak: Govt's fiscal stimulus package 'hopelessly inadequate', says P Chidambaram

Firstpost  

The Congress on Monday said the fiscal stimulus package announced by the government is “hopelessly inadequate” given the gravity of the economic crisis as it amounts to only Rs 1.86 crore, which is 0.91 percent of the GDP New Delhi: The Congress on Monday said the fiscal stimulus package announced by the government is “hopelessly inadequate” given the gravity of …

India's GDP to shrink 45% in June quarter, predicts Goldman Sachs
4 years, 7 months ago

India's GDP to shrink 45% in June quarter, predicts Goldman Sachs

India Today  

The government’s effort to provide a boost to the coronavirus-hit economy focuses on more on the medium-term rather than offering immediate support, according to a recent note by Goldman Sachs economists. In a May 17 note, Goldman Sachs economists Prachi Mishra and Andrew Tilton predicted that India’s Gross Domestic Product will contract by an annualised 45 per cent in the …

Coronavirus lockdown | Fifth tranche of economic package focusses on reforms, says Nirmala Sitharaman
4 years, 7 months ago

Coronavirus lockdown | Fifth tranche of economic package focusses on reforms, says Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Sunday said reforms will be the focus of the fifth and final tranche of economic stimulus package to deal with the economic fallout of the COVID-19 pandemic. “Further, 0.50 per cent if milestones are achieved in at least three out of four reform areas.” Stimulus package includes ₹8 lakh cr liquidity measures by RBI Ms. …

Fixing the economy makes coronavirus seem like a walk in the park
4 years, 7 months ago

Fixing the economy makes coronavirus seem like a walk in the park

ABC  

An unseen virus, about which little is known, has proved in many ways to be easier to wrangle in Australia than the economic havoc it is creating. Creating uncertainties, and perhaps political problems In a week of the release of shocking unemployment numbers, there are several different problems that have emerged for the government and its income support policies. The …

Coronavirus lockdown | Narendra Modi announces ₹20-lakh-crore economic stimulus package
4 years, 7 months ago

Coronavirus lockdown | Narendra Modi announces ₹20-lakh-crore economic stimulus package

The Hindu  

Prime Minister Narendra Modi on Tuesday said a new-look Lockdown 4.0 beyond May 17 was in the offing, while announcing an economic stimulus package for ₹20-lakh-crore, with a clearly defined leap towards economic reforms that will, in his words, lead to Atmanirbhar Bharat, or a self-reliant, resilient India. ‘Relook at systems’ Addressing the nation on television, Mr. Modi said the …

Coronavirus Outbreak: US economy shrinks at 4.8% in January-March quarter, first-time in six years; recession fear looms
4 years, 8 months ago

Coronavirus Outbreak: US economy shrinks at 4.8% in January-March quarter, first-time in six years; recession fear looms

Firstpost  

The US economy shrank at a 4.8 percent annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record Washington: The US economy shrank at a 4.8 percent annual rate last quarter as the coronavirus pandemic shut down much of the country and began …

US GDP drops 4.8% as coronavirus impact hits hard: Live updates
4 years, 8 months ago

US GDP drops 4.8% as coronavirus impact hits hard: Live updates

Al Jazeera  

It is the sharpest decline since the Great Recession, an abrupt end to the longest economic expansion in US’s history. 09:30 GMT – Spain’s daily toll slightly up with 325 new deaths Spain recorded 325 deaths from the novel coronavirus overnight, up from 301 reported the previous day, the health ministry said. 07:55 GMT – Russia’s coronavirus cases near 100,000 …

Coronavirus Outbreak: India’s GDP growth likely to range between decline of 0.9% and growth of 1.5% in FY21, says CII
4 years, 8 months ago

Coronavirus Outbreak: India’s GDP growth likely to range between decline of 0.9% and growth of 1.5% in FY21, says CII

Firstpost  

India’s GDP is likely to range between a decline of 0.9 percent and a growth of 1.5 percent in the current financial year, with the economy undergoing a “turbulent” phase caused by the coronavirus-induced lockdown, according to a report New Delhi: India’s GDP is likely to range between a decline of 0.9 percent and a growth of 1.5 percent in …

Today's top business news: Govt advisor rules out big economic stimulus, ex-RBI governor says India can't take markets for granted, traders smell back-door funding of govt debt by RBI, and more
4 years, 8 months ago

Today's top business news: Govt advisor rules out big economic stimulus, ex-RBI governor says India can't take markets for granted, traders smell back-door funding of govt debt by RBI, and more

The Hindu  

Stocks have opened positive this morning and signals coming from the government suggest a significant easing of lockdown restrictions soon. PTI reports: "Real estate developers sold 26 per cent less apartments during January-March period across nine major cities as economic slowdown and coronavirus outbreak affected demand, News Corp-backed PropTiger said. Vodafone Group, in a statement, said it has “accelerated this …

Fitch Solution cuts India's FY21 GDP growth forecast to 1.8 per cent
4 years, 8 months ago

Fitch Solution cuts India's FY21 GDP growth forecast to 1.8 per cent

India TV News  

Fitch Solutions on Monday cut India's economic growth forecast for the financial year 2020-21 to 1.8 per cent saying private consumption is likely to contract due to large-scale loss of income in the face of worsening domestic outbreak of COVID-19. For India, it said the real GDP growth rate for 2020-21 has been revised down to 1.8 per cent from …

Coronavirus Outbreak: RBI governor Shaktikanta Das hopes India will stage sharp V-shaped recovery in FY22
4 years, 8 months ago

Coronavirus Outbreak: RBI governor Shaktikanta Das hopes India will stage sharp V-shaped recovery in FY22

Firstpost  

The Reserve Bank Governor Shaktikanta Das on Friday said there are a few slivers of brightness amidst the encircling gloom and hoped that India will stage a sharp V-shaped recovery in 2021-22 as projected by the International Monetary Fund Mumbai: The Reserve Bank Governor Shaktikanta Das on Friday said there are a few slivers of brightness amidst the encircling gloom …

India needs a stimulus to offset covid impact: IMF
4 years, 8 months ago

India needs a stimulus to offset covid impact: IMF

Live Mint  

India should ease its fiscal stance and announce a stimulus package to guard against the sharp slowdown in economic growth and job losses expected from the nationwide lockdown, the International Monetary Fund said on Wednesday. “In India, the fiscal stance should be eased as needed to accommodate necessary increases in public health expenditure in response to the pandemic and shield …

Coronavirus Outbreak: Analysts flag economic growth concerns post-lockdown extension
4 years, 8 months ago

Coronavirus Outbreak: Analysts flag economic growth concerns post-lockdown extension

Firstpost  

The 19-day extension of the lockdown on Tuesday by Prime Minister Narendra Modi led analysts to flag concerns over its economic impact, with some estimating a GDP contraction of 1 percent in FY21 as well Mumbai: The 19-day extension of the lockdown on Tuesday by Prime Minister Narendra Modi led analysts to flag concerns over its economic impact, with some …

Coronavirus Outbreak: Hope govt will announce stimulus packages to rebuild economy after lockdown extension, says Nasscom
4 years, 8 months ago

Coronavirus Outbreak: Hope govt will announce stimulus packages to rebuild economy after lockdown extension, says Nasscom

Firstpost  

Nasscom said it is imperative that people to adapt to this “new normal” and build in practices like social distancing in everyday lives over the next many months. IT industry body Nasscom on Tuesday said it is hopeful that the government will announce economic stimulus packages soon to help rebuild the economy even as the nationwide lockdown was extended till …

Coronavirus Outbreak: Gross state borrowings to touch Rs 7.8 lakh cr in current fiscal, says ICRA
4 years, 9 months ago

Coronavirus Outbreak: Gross state borrowings to touch Rs 7.8 lakh cr in current fiscal, says ICRA

Firstpost  

ICRA has said states with the higher patient count, returning migrant labour, as well as a greater dependence on GST compensation, will face the sharper risk of fiscal slippages this fiscal Mumbai: Domestic rating agency ICRA has said states with the higher patient count, returning migrant labour and daily wagers, as well as a greater dependence on GST compensation, will …

Coronavirus Outbreak: Former RBI governor Raghuram Rajan urges govt to invite experts to deal with economic impact of pandemic
4 years, 9 months ago

Coronavirus Outbreak: Former RBI governor Raghuram Rajan urges govt to invite experts to deal with economic impact of pandemic

Firstpost  

Rajan, a professor of finance at the University of Chicago Booth School of Business, suggested that India should now plan for what happens after the lockdown, if the virus is not defeated. New Delhi: Former RBI governor Raghuram Rajan has suggested to the government to call people with proven expertise and capabilities, including from opposition parties, to deal with perhaps …

Coronavirus Outbreak: India may post lowest GDP growth in post-reform period in FY21, says economist at NIPFP
4 years, 9 months ago

Coronavirus Outbreak: India may post lowest GDP growth in post-reform period in FY21, says economist at NIPFP

Firstpost  

Indian economy, which was already in slowdown phase for the last six quarters, could register the lowest growth in the post-reform period in 2020-21 despite strong monetary and fiscal stimulus measures, an eminent economist said on Friday New Delhi: Indian economy, which was already in slowdown phase for the last six quarters, could register the lowest growth in the post-reform …

Coronavirus Outbreak: ADB expects India's economic growth to slow down to 4% in FY21
4 years, 9 months ago

Coronavirus Outbreak: ADB expects India's economic growth to slow down to 4% in FY21

Firstpost  

India’s economic growth is likely to slow down to 4 percent this fiscal on the back of the current global health emergency, Asian Development Bank said in its outlook for the financial year 2020-21 on Friday New Delhi: India’s economic growth is likely to slow down to 4 percent this fiscal on the back of the current global health emergency, …

Will the $2 trillion American coronavirus economic bailout package be enough?
4 years, 9 months ago

Will the $2 trillion American coronavirus economic bailout package be enough?

The Independent  

Two trillion American dollars. The Republican Senate leader Mitch McConnell described it as: “In effect … a wartime level of investment into our nation.” It’s more than double the $800bn US stimulus package implemented during the global financial crisis. America’s Tax Policy Centre think tank estimates that about a third of the payments will go to households in the most …

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA
4 years, 9 months ago

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA

Firstpost  

Despite the Reserve Bank of India’s massive actions to spur the economy, India’s gross domestic product is likely to contract by 4.5 percent in the April-June 2020 quarter and will rise by only 2 percent in 2020-21 on the coronavirus impact, according to domestic rating agency ICRA Mumbai: Despite the Reserve Bank of India’s massive actions to spur the economy, …

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