Page 12 - Gross Domestic Product

Finance Ministry sees FY21 economic growth at 2-3% amid Covid-19 outbreak

The internal projections of 2-3% are based on the Finance Ministry's current assessment of the economic impact of the nationwide lockdown, which is in its sixth week

Statsguru: Key indicators point to grim economic outlook amid lockdown

PMI's services did contract, with trade, hospitality coming to a grinding halt, though the pace of fall in the index was not as steep as that of the core sector

The lingering effect of Covid on services trade

The International Monetary Fund and the World Trade Organization have predicted massive losses in economic growth and international trade

Beating the pandemic of recession

Money should not be a consideration in protecting jobs, people and industry as the economy nosedives

In a sea of red ink

A lot of uncertainties remain on how, when, and at what total economic and social cost, this pandemic will be tamed

Coronavirus crisis: Lockdown batters India's already slowing economy

Some of the leading indicators only tell the magnitude of its impact

Head versus heart

This is a false dichotomy, the Indian economy can be rebooted and the Covid-19 virus contained concurrently

The fiscal response challenge

In terms of policy response, governments and central banks are intervening aggressively in the advanced economies

Coping with the lockdown

Given the scale of demand contraction, we need a fiscal package of at least 3-4 per cent of GDP

Will more foreign financing be needed?

It is important to remove the frictions, to connect the infinite capital of the global financial system with end-users in India

Covid-19 impact: GDP growth may plunge to 1.1% in FY21, says SBI report

According to the SBI Ecowrap report, the extension of the lockdown would result in economic loss of Rs 21.1 trillion or 6 per cent of the nominal Gross Value Added (GVA).

Indian stocks fall out of bull territory ahead of earnings season

The Sensex declined 1 per cent to end at 30,379.81 after rising as much as 2.9%, while the Nifty dropped 0.8% to close at 8,925, after rising to 9,261

Calibrating exit and stimulus is our best bet

There is a view that an extension is not warranted. It suffices to lock down areas with incidence of coronavirus

Economy needs more govt support

Lockdown was a brave decision. Now, policy-making requires a similar display of boldness

Creating fiscal space for the states

In the second part of a series, the authors say the current uncertainties require room for discretion to serve as a necessary handmaiden of rules that cannot alone cater to all contingencies

The wrong diagnosis

Calls for fiscal stimulus and monetary overreach will not help deal with the pandemic's economic consequences

Fiscal space: Not if but how

In the first part of a series, the authors argue the means must be found to avert potential economic and social collapse post-Covid

RBI admits GDP forecasts prior to coronavirus outbreak were off the mark

RBI failed to gauge a greater-than-anticipated contraction in gross-fixed capital formation and continuing weak activity, especially in the rural areas.

Govt unlikely to grant any package for industry to pay workers' salaries

"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.

Establish fiscal council to scale up spending

India will have to address the big fiscal prudence challenge, which is not captured by the fiscal deficit/GDP metric