Page 8 - Latest Updates on Gross Domestic Product (GDP)
The Morning After
Policy interventions will have to be intelligent: Striving to create deep, but temporary, safety nets during COVID-19 without generating imbalances and distortions thereafter
 "The Morning After")
Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%
Over the next few months, Moody's expects job losses across countries to accelerate
 "Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%")
Consumption sector will not be affected much by the 21-day lockdown
I believe the full-year impact on GDP will be around 150 basis points (bps)
 "Consumption sector will not be affected much by the 21-day lockdown")
The other casualty of Covid-19
COVID-19 will cause no less a disruption to the economy than the goods and services tax has done
 "The other casualty of Covid-19")
No trading seen in bonds in first 20 minutes of the market session
While working from home, bond traders are doing bare minimum trade to cover their positions; there is also the expectation of a 50-150-bp rate cut
 "No trading seen in bonds in first 20 minutes of the market session")
CII writes to PM Modi, seeks fiscal stimulus package of Rs 2 trillion
Suggests setting aside 1% of GDP for cash transfer scheme for poor and elderly
 "CII writes to PM Modi, seeks fiscal stimulus package of Rs 2 trillion")
Brokerages slash India Inc's FY21 earnings estimates amid coronavirus scare
Taking into account the current slow economic growth and changes in the prices of commodities, analysts at Nomura estimate 10% and 8% downside risk to FY21 and FY22 consensus' earning estimates
 "Brokerages slash India Inc's FY21 earnings estimates amid coronavirus scare")
Best of BS Opinion: Financial market stress, policy after COVID-19 and more
Here's a selection of Business Standard Opinion pieces for the day
 "Best of BS Opinion: Financial market stress, policy after COVID-19 and more")
India's current account deficit narrows to $1.4 bn in December quarter
The CAD is a critical indicator of the macroeconomic health and represents the gap between the overall foreign exchange expended and received in the economy.
 "India's current account deficit narrows to $1.4 bn in December quarter")
Risks, and some rewards, as India does business in the times of coronavirus
Will China's loss in meeting demand from the US and Europe help Indian businesses like leather, ceramics, and plastics? And if it does, will the gains be sustainable?
 "Risks, and some rewards, as India does business in the times of coronavirus")
US-China trade war, coronavirus have impacted global economy: Anurag Thkaur
He was asked about on Moody's forecast which has put India's GDP forecast at 5.3% in 2020.
 "US-China trade war, coronavirus have impacted global economy: Anurag Thkaur")
Chris Wood ups China stake amid coronavirus fear; trims India exposure
Wood believes the Narendra Mod government seems to be prioritising the social agenda over economic issues
 "Chris Wood ups China stake amid coronavirus fear; trims India exposure")
Slowdown forces Emami to delay new launches, male-grooming range hit badly
the underperformance of winter portfolio, decline in male grooming range lead to flat Q3 revenue growth
 "Slowdown forces Emami to delay new launches, male-grooming range hit badly")
PMI: India's services sector growth hits 7-year high of 57.5 in February
Exports zoom but job growth at 3-month low
 "PMI: India's services sector growth hits 7-year high of 57.5 in February")
Impact of divergence between ministries and govt depts on economic data
Departments are most reluctant to factor in changes in the GDP within the same financial year
 "Impact of divergence between ministries and govt depts on economic data")
OECD slashes India's FY21 growth forecast to 5.1% on coronavirus woes
According to the latest OECD Interim Economic Outlook Forecasts, India's real GDP growth is expected at 5.1 per cent during the fiscal year starting April 1, 2020
 "OECD slashes India's FY21 growth forecast to 5.1% on coronavirus woes")
Slowdown: Fitch cuts India GDP forecast for FY20 to 4.9% on weak demand
The GDP growth is forecast to recover slightly to 5.4 per cent in 2020-21 (April 2020 to March 2021)
 "Slowdown: Fitch cuts India GDP forecast for FY20 to 4.9% on weak demand")
Consumption growth print for Q3FY20 GDP not in sync with quarterly earnings
With limited monetary policy space, India-Ratings and Research believes the Reserve Bank of India will continue to focus on monetary transmission through long-term repo operation/operation twist
 "Consumption growth print for Q3FY20 GDP not in sync with quarterly earnings")
Statsguru: Decoding Indian economy's growth risks and muted outlook
The stress lies in the manufacturing and construction sectors, the biggest employers of semi-skilled labour
 "Statsguru: Decoding Indian economy's growth risks and muted outlook")
GDP growth slows to nearly 7-year low of 4.7% in Q3 on weak manufacturing
Interestingly, the GDP estimates for FY19 have been revised downwards significantly, pushing up quarterly growth estimates for the current financial year
