The contraction in France was steeper than the 10.1% reported by Germany, where authorities kept a surge in Covid-19 related deaths in check and did not enforce a lockdown as strict as France's
Huge uncertainties surround the economic outlook in aftermath of the massive shock in H1 2020
Based on estimated 2019 GDP, that currently comes to around $17.6 trillion
BofA Securities expects the monetary policy committee of the RBI to slash policy rates by 100bp in FY21 as their base case
Tarun Bajaj says proposal of a 'bad bank' discussed internally, but no decision taken
Says rebound particularly visible in rural sector even as she acknowledges forecasts by various agencies on GDP contraction for FY21
India's debt to GDP ratio has increased from Rs 58.8 trillion (67.4 per cent of GDP) in the financial year 2011-12 (FY12) to Rs 146.9 trillion (72.2 per cent)
Rajan cautioned that one should not mistake pent up consumption for normal consumption.
Many analysts are expecting the Indian economy to contract by 5 per cent in FY21 as a result of the nationwide lockdowns, with some also estimating a contraction of up to 7.2 per cent in the GDP
"Overall, net claims of non-residents on India declined by $57.6 billion during the year," RBI said
The top five major states where the impact of lockdown was the most pronounced are Karnataka, Jharkhand, Tamil Nadu, Kerala and Odisha
All that happened in the markets today
Barring coal production, and to an extent cargo handled at sea ports, most of the main indicators that went into calculation of GDP growth contracted in the fourth quarter
From US entering recession, FM considering corporation tax rate benefit extension to PMLA court ordering seizure of Nirav Modi's assets, here are the top headlines on Tuesday morning
Through this innovative account construct, MSMEs and other organisations will be able to make cashless payments and also provide a financial security blanket to their employees," the bank said.
Going ahead it is likely that the sectors that were outperformers in the previous bull market may trail the market recovery
The common thread that runs through these estimates is the fact that the economy is headed towards a recessionary phase
IMF remains only major outlier predicting growth for the economy, is likely to be on same page with others next week
According to the SBI's research report Ecowrap - the GDP growth is likely to be 4.2 per cent for FY20 and (-) 6.8 per cent for FY21
Economy still far from sustainable recovery path