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 or 70 bps of the GDP, says a report. In fact, the steadily slowing economy has ensured that imports are also falling along with exports, leading to improvements in the external position since the first half of FY19, with the current account deficit narrowing to $27 billion in FY2019 from $66 billion in FY2018, driven largely by a smaller trade deficit. “Our current account tracker points to a small current account deficit of $3 billion in Q1, followed by successive ‘unwelcome’ surpluses, mirroring subdued economic activity. It also forecasts $8 billion in the current account surplus in the second quarter of FY2021, the first since the first quarter of FY2007.

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ICICI Bank forecasts 1.1% current account deficit for India in FY25 amid trade challenges
Trending News
1 week, 4 days ago

ICICI Bank forecasts 1.1% current account deficit for India in FY25 amid trade challenges

Live Mint  

ICICI Bank has forecasted that its expects India's Current Account Deficit to remain at 1.1 per cent of the GDP in FY25. According to ICICI Bank, “We expect CAD at 1.1 per cent of GDP in FY25.” Factors In Focus In November 2024, India's trade deficit reached a record high of $37.8 billion, primarily due to gold imports totaling $14.9 …

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report
1 week, 6 days ago

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report

Live Mint  

New Delhi, December 28 : India's Current Account Deficit is expected to rise above 2 per cent of GDP in the third quarter of FY25, driven by a surge in gold imports, according to a report by Bank of Baroda. However, resilient services exports and remittance inflows are likely to cushion the overall impact, keeping the CAD for FY25 within …

Services exports save the day for India’s current account deficit in September quarter
1 week, 6 days ago

Services exports save the day for India’s current account deficit in September quarter

Live Mint  

Mumbai: A rise in services exports helped narrow India's current account deficit in the September quarter, although this marked the second consecutive quarterly deficit after hitting a surplus in the final three months of FY24. In the three months prior to that—the fourth quarter of 2023-24 —India had registered its first current account surplus in about four years due to …

India's current account deficit gap widens in April-June: RBI
3 months, 1 week ago

India's current account deficit gap widens in April-June: RBI

Hindustan Times  

India's current account deficit widened on-year in the April-June quarter, largely due to a higher merchandise trade deficit, the central bank said on Monday. The Reserve Bank of India reported a current account deficit of $9.7 billion for April-June, driven by a $65.1 billion merchandise trade deficit. The current account deficit stood at $9.7 billion, or 1.1% of the GDP, …

India’s Current Account Balance Turns Surplus in Q4FY24
6 months, 2 weeks ago

India’s Current Account Balance Turns Surplus in Q4FY24

Deccan Chronicle  

Mumbai: India’s current account balance recorded a surplus of $ 5.7 billion in the fourth quarter of FY24 due to higher service exports and private transfer receipts, according to data released by the Reserve Bank of India. The current account balance was in deficit of $ 8.7 billion in Q3 2023-24 and $ 1.3 billion a year ago. Net services …

India's June quarter current account deficit narrows to 1.1 per cent: RBI
1 year, 3 months ago

India's June quarter current account deficit narrows to 1.1 per cent: RBI

Hindustan Times  

India's current account deficit narrowed to USD 9.2 billion or 1.1 per cent of GDP for the April-June period, the Reserve Bank said on Thursday. The net external commercial borrowings to India recorded an inflow of USD 5.6 billion in the quarter compared to an outflow of USD 2.9 billion a year ago, the RBI said The current account deficit, …

Balance of payment data gives fewer reasons to cheer
1 year, 6 months ago

Balance of payment data gives fewer reasons to cheer

Live Mint  

The latest balance of payments data was a mixed bag. However, strong domestic economic momentum and higher capital spending may keep underlying import demand intact at a time exports are facing challenges from a global slowdown. With the current account likely to remain in deficit in FY24, a resilient capital account surplus will be crucial to contain the impact of …

CAD narrows to 0.2% of GDP in Q4 FY23 on lower trade deficit, higher services exports
1 year, 6 months ago

CAD narrows to 0.2% of GDP in Q4 FY23 on lower trade deficit, higher services exports

The Hindu  

India's current account deficit narrowed to $1.3 billion or 0.2% of GDP in the January-March quarter of FY23, mainly due to moderation in the trade deficit and a robust increase in services exports, RBI data showed on June 27. “India’s current account deficit decreased to $1.3 billion in Q4:2022-23 from $16.8 billion in Q3:2022-231, and $13.4 billion a year ago,” …

India's current account deficit dips to 0.2% of GDP in Q4 FY23: RBI data
1 year, 6 months ago

India's current account deficit dips to 0.2% of GDP in Q4 FY23: RBI data

India TV News  

According to RBI data released on Tuesday, India's current account deficit decreased to USD 1.3 billion, or 0.2% of GDP, during the January-March quarter of FY23. "India's CAD decreased to USD 1.3 billion in Q4:2022-23 from USD 16.8 billion in Q3:2022-231, and USD 13.4 billion a year ago," the Reserve Bank stated. The trade deficit decreased to USD 52.6 billion …

Govt lowers forecast for current account deficit after January data
1 year, 10 months ago

Govt lowers forecast for current account deficit after January data

Deccan Chronicle  

Chennai: As the trade deficit printed lower in January, the forecast for Current Account Deficit in FY23 has been lowered below $100 billion. The estimate was brought down after the trade deficit sharply narrowed to $17.8 billion in January, from $22.1 billion in December The narrowing was led by continued consolidation in imports, even as exports remained weak. Imports contracted …

CAD set to widen, inflation to remain high: Deloitte report
2 years ago

CAD set to widen, inflation to remain high: Deloitte report

Live Mint  

India’s current account deficit is set to worsen going forward led by higher imports and slower exports, Deloitte warned in a report shared exclusively with Mint. The report pointed out that the pressure on the rupee is “worrisome” and that India may want to consider restricting imports of non-essential items or scouting for cheaper import sources. It is the only …

Current Account Deficit: Govt Carefully Monitoring Situation, Taken Few Steps, Says FM
2 years, 5 months ago

Current Account Deficit: Govt Carefully Monitoring Situation, Taken Few Steps, Says FM

News 18  

Even as the crude oil price is rising and gold imports remain high, Finance Minister Nirmala Sitharaman has said the government is carefully monitoring the current account deficit situation, adding that the RBI recently took steps to increase foreign exchange inflows to narrow the deficit. India’s current account deficit stood at 1.2 per cent of GDP in 2021-22 against a …

Current Account Deficit expected to deteriorate in FY23 on costlier import: FinMin Report
2 years, 5 months ago

Current Account Deficit expected to deteriorate in FY23 on costlier import: FinMin Report

The Hindu  

India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on July 14 by the Ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven …

What does our current account deficit show?
2 years, 6 months ago

What does our current account deficit show?

Live Mint  

The data for the country’s current account balance for the fourth quarter of FY 2021-22 shows a decrease in the deficit to 1.5% of gross domestic product from 2.6% of GDP in Q3 FY 2021-22. A current account deficit arises when the value of goods and services imported exceeds the value of exports, while the trade balance refers to the …

Where is India's economy headed after FinMin's twin deficit warning?
2 years, 6 months ago

Where is India's economy headed after FinMin's twin deficit warning?

Business Standard  

The World Bank recently cut its FY23 real GDP growth forecast for India to 7.5 per cent from 8 per cent, which is slightly more bullish than the Reserve Bank of India’s forecast of 7.2 per cent. However, a paper co-authored by Reserve Bank of India’s deputy governor Michael Debabrata Patra says that there is only a five per cent …

Fiscal metrics to stay weak on COVID: S&P
3 years, 8 months ago

Fiscal metrics to stay weak on COVID: S&P

The Hindu  

An ongoing second wave of COVID-19 infections in India could hurt its near-term economic recovery and possibly diminish growth for the full year, S&P Global Ratings said on Tuesday. “India’s COVID wave will inevitably hit the recovery and could push growth below 10%,” said Shaun Roache, chief economist, Asia Pacific at S&P. “The longer it takes to regain control, the …

Economic Survey Upshot: Govt Revises Growth Rate for 2019-20 Downwards to 4 Per Cent
3 years, 11 months ago

Economic Survey Upshot: Govt Revises Growth Rate for 2019-20 Downwards to 4 Per Cent

News 18  

The government on Friday revised downwards the economic growth rate for 2019-20 to 4 per cent from 4.2 per cent estimated earlier. “Real GDP or GDP at constant prices for the years 2019-20 and 2018-19 stands at Rs 145.69 lakh crore and Rs 140.03 lakh crore, respectively, showing a growth of 4.0 per cent during 2019-20 and 6.5 per cent …

Investor exuberance amidst real economy recession
4 years ago

Investor exuberance amidst real economy recession

The Hindu  

I T is a paradox that has periodically recurred in recent times. Thus, over the April-September of 2019, India’s balance of payments showed a current account deficit of $22.6 billion, and it was only because net capital inflows were a much larger $41.7 billion that the country recorded a $19.1 billion increase in reserves. To summarise, the record reserve accumulation …

The Hindu Explains | How is the Indian economy faring, and what are the predictions on growth for 2021?
4 years ago

The Hindu Explains | How is the Indian economy faring, and what are the predictions on growth for 2021?

The Hindu  

The story so far: The year 2020 upended India’s economy as much as it disrupted the rest of the world, along with all aspects of normal life, thanks to the novel coronavirus. But unlike most other peers, India’s economy had already been hurtling downhill before the pandemic hit, and a snap national lockdown announced in late March scuppered virtually all …

Indian economy recovering fast, growth to turn positive in third quarter: RBI
4 years ago

Indian economy recovering fast, growth to turn positive in third quarter: RBI

India TV News  

The economy is coming out of the COVID-19 pandemic's deep abyss faster than most of the predictions, and the growth will enter positive zone in the third quarter of the current financial year, said an article on the 'state of economy' in the RBI Bulletin. Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9 per cent …

Fitch revises India GDP forecast, sees contraction at 9.4 pc
4 years, 1 month ago

Fitch revises India GDP forecast, sees contraction at 9.4 pc

India TV News  

Fitch Ratings on Tuesday raised India's GDP forecast to -9.4 per cent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 per cent after the economy staged a sharper rebound in the second quarter. "We now expect GDP to contract 9.4 per cent in the fiscal year to end-March 2021, followed by +11 per …

India Will Be Worst Affected Among Major Economies Even After Coronavirus Pandemic Wanes: Report
4 years, 1 month ago

India Will Be Worst Affected Among Major Economies Even After Coronavirus Pandemic Wanes: Report

News 18  

India will be the worst affected among the world’s major economies even after the coronavirus pandemic wanes, with output 12% below pre-virus levels through the middle of the decade, according to global forecasting firm Oxford Economics. “We forecast India’s growth equilibrium to worsen substantially over the medium term, with potential growth averaging just 4.5% over 2020-2025 in our latest baseline, …

Goldman Sachs revises India’s FY21 GDP target to -10.3% on vaccine progress
4 years, 1 month ago

Goldman Sachs revises India’s FY21 GDP target to -10.3% on vaccine progress

Live Mint  

Goldman Sachs on Tuesday revised India’s FY21 GDP target to 10.3% contraction as against earlier forecast of 14.8% contraction. However, the pace of the rebound will be restrained by some "economic scarring", and a number of factors like a weak labour market, the hit to private sector incomes and balance sheets, tighter credit supply conditions and a limited impetus from …

Goldman Sachs Pegs India's GDP Growth Forecast at 10% for 2021, Highest Among Major Global Economies
4 years, 1 month ago

Goldman Sachs Pegs India's GDP Growth Forecast at 10% for 2021, Highest Among Major Global Economies

News 18  

Investment bank Goldman Sachs, its global economic analysis report ‘V-Shaped Recovery’, reiterated its projections for India’s gross domestic product growth for 2021 and 2022 to be 10 per cent and 7.3 per cent respectively. The investment major’s growth forecast for India is the highest among major economies around the world. In September, the lender had forecast India’s GDP growth for …

India Reports Current Account Surplus for Second Straight Quarter at 3.9% of GDP in April-June
4 years, 3 months ago

India Reports Current Account Surplus for Second Straight Quarter at 3.9% of GDP in April-June

News 18  

India's current account surplus increased to $19.8 billion or 3.9 per cent of GDP for the June quarter as merchandise imports declined amid the COVID-19 pandemic, the Reserve Bank said on Wednesday. The country's current account surplus had come at $0.6 billion or 0.1 per cent of GDP in the preceding March quarter, while it had reported a current account …

Indian economy to shrink 9 pc in FY21: ADB
4 years, 3 months ago

Indian economy to shrink 9 pc in FY21: ADB

India TV News  

India's coronavirus-battered economy will shrink by 9 per cent this fiscal, the Asian Development Bank predicted on Tuesday saying growth outlook remains highly vulnerable to either a prolonged outbreak of the pandemic or a resurgence of cases. With lockdowns stalling private spending, ADB said GDP will shrink by 9 per cent in April 2020 to March 2021, sharply down from …

Covid-19 may leave 'permanent scar' on India's growth, show agency outlooks on GDP
4 years, 3 months ago

Covid-19 may leave 'permanent scar' on India's growth, show agency outlooks on GDP

India Today  

The coronavirus pandemic and the strict nationwide lockdown has resulted in economic devastation beyond comprehension in India. While Goldman Sachs projected India’s GDP for the year to contract 14.8 per cent, Fitch Ratings said it would contract 10.5 per cent. Fitch Ratings, too, sharply downgraded its projections for India’s economic growth to -10.5 per cent — double of the five …

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 …

Indian Economy to Contract 10.5 Pc in FY21; Covid-19 Spread Disrupting Eco Activity: Fitch
4 years, 4 months ago

Indian Economy to Contract 10.5 Pc in FY21; Covid-19 Spread Disrupting Eco Activity: Fitch

News 18  

Fitch Ratings on Tuesday slashed India's FY21 growth projection to 10.5 per cent, from 5 per cent estimated earlier, saying the continued spread of the virus and imposition of sporadic shutdowns across the country has disrupted economic activity. Fitch said India recorded one of the sharpest GDP contractions in the world in the April-June quarter, but noted that growth should …

Federal Government deficit hits record high of $86 billion as coronavirus devastates the economy
4 years, 5 months ago

Federal Government deficit hits record high of $86 billion as coronavirus devastates the economy

ABC  

Australia's budget deficit hit almost $86 billion last financial year, the biggest blow to the bottom line since World War II, Treasurer Josh Frydenberg has revealed. Key points: A forecasted $5 billion surplus for 2019-20 ended in a deficit of almost $86 billion A forecasted $5 billion surplus for 2019-20 ended in a deficit of almost $86 billion It is …

Why IMF\'s latest projection on India\'s growth rate must not come as a surprise
4 years, 6 months ago

Why IMF\'s latest projection on India\'s growth rate must not come as a surprise

Deccan Chronicle  

The International Monetary Fund's latest forecast does not have too much good news for India. India's growth rate in 2020 is tipped to come down from 1.9 per cent – as forecasted in IMF’s April report – to -4.5 percent. In January 2020, it cut the projected growth rate for 2019 from 6.1 per cent to 4.8 per cent, citing …

India’s economy likely to shrink by 3.2% in current fiscal, but expected to bounce back in 2021, says World Bank
4 years, 7 months ago

India’s economy likely to shrink by 3.2% in current fiscal, but expected to bounce back in 2021, says World Bank

Firstpost  

India’s economy will shrink by 3.2 percent in the current fiscal, the World Bank said on Monday as it joined a chorus of international agencies that are forecasting a contraction in growth rate due to the coronavirus lockdown India’s economy will shrink by 3.2 percent in the current fiscal, the World Bank said on Monday as it joined a chorus …

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 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 …

COVID-19 Impact: Bad loans in banking sector may rise by Rs 5.5 lakh cr this fiscal, says India Ratings
4 years, 7 months ago

COVID-19 Impact: Bad loans in banking sector may rise by Rs 5.5 lakh cr this fiscal, says India Ratings

Firstpost  

While bad loans from the corporate sector may rise by Rs 3.4 lakh crore, for non-corporate segments it may increase by Rs 2.1 lakh crore in FY21, India Ratings and Research said in the report Mumbai: With economic activity coming to a standstill due to the COVID-19 crisis, total slippages in the banking system may rise up to Rs 5.5 …

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 …

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 …

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 package | Centre throws open all sectors to private players
4 years, 7 months ago

Coronavirus package | Centre throws open all sectors to private players

The Hindu  

The Centre has agreed to demands from States to hike their borrowing limits from 3% to 5% of their GDP in light of the COVID-19 crisis, but on the condition that they implement specific reforms. The fifth and final tranche of the Atmanirbhar Bharat Abhiyan stimulus package, announced by Finance Minister Nirmala Sitharaman on Sunday, also included an additional ₹40,000 …

Fitch Ratings sees India growth slipping to 0.8% in FY21; says unparalled global recession underway
4 years, 8 months ago

Fitch Ratings sees India growth slipping to 0.8% in FY21; says unparalled global recession underway

Firstpost  

In its Global Economic Outlook, Fitch Ratings said India’s gross domestic product growth will slip to 0.8 percent for the year April 2020 to March 2021 as compared to an estimated 4.9 percent growth in the previous fiscal New Delhi: Fitch Ratings on Thursday slashed India’s economic growth projections to 0.8 percent in the current 2020-21 fiscal saying an unparalleled …

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 …

Will Coronavirus Turn Modi’s 5 Trillion Dollar Dream Into Fantasy?
4 years, 8 months ago

Will Coronavirus Turn Modi’s 5 Trillion Dollar Dream Into Fantasy?

The Quint  

At that rate, we will need a real GDP growth of 14 percent this year, to stay on target for the 16.4 percent annual growth rate needed to take us to a 5-trillion-dollar economy by 2024. Nomura’s latest report predicts just a 0.8 percent GDP growth in the calendar year of 2020. Morgan Stanley predicted India’s GDP growth to be …

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 …

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 | IMF projects 1.9% growth for India in 2020
4 years, 8 months ago

Coronavirus | IMF projects 1.9% growth for India in 2020

The Hindu  

The COVID-19 pandemic is having a “severe” effect on the world economy and is expected to cause a -3% change in global output in 2020, “much worse” than the 2008-09 financial crises, as per the International Monetary Fund’s World Economic Outlook. Assuming that the pandemic fades in the second half of this year, with containment efforts gradually easing up, the …

World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago
4 years, 8 months ago

World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago

The Hindu  

India is likely to record its worst growth performance since the 1991 liberalisation this fiscal year as the coronavirus outbreak severely disrupts the economy, the World Bank said on Sunday. India’s economy is expected to grow 1.5% to 2.8% in the 2020-21 fiscal which started on April 1, the World Bank said in its South Asia Economic Focus report. “The …

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