Page 10 - India Gdp

Crisil projects wider GDP contraction for FY21 at 9%, from 5% earlier

Attributes it to Covid-19 cases and lack of stimulus from govt

IMF says India needs another fiscal stimulus, income support to fight Covid

In the short term, a detailed well communicated and credible medium-term fiscal consolidation plan is also important, alongside an increase in fiscal transparency, IMF said

Govt aims to create 50 mn jobs in 5 years in MSME sector, says Gadkari

The minister also called for broadbasing support for innovations and entrepreneurship so that bonafide new talent also gets a chance to grow

Farm sector will continue to shine in 2020-21 but rural as a whole may not

The non-farm sector occupies a large part of rural income, and unless it grows substantially, just expecting farm growth to bring about rural sector revival is unreasonable, say experts

Why the massive expansion in RBI's balance sheet isn't really extraordinary

As a share of nominal GDP, the balance sheet is well within the levels of the past few years; yet it could influence every sphere of economic activity in the country

Rating firms rework their India FY21 GDP forecasts with sharper contraction

Impact on wages to severely dent consumption and decelerate recovery, says India Ratings

Goldman Sachs to Fitch: Global rating agencies cut India's GDP forecast

Downward revision follows a sharp contraction in the economy in the April-June period, when GDP came in at a negative 23.9 per cent YoY, the worst show in nearly four decades

Centre has walked the talk on capex, shows official data

Data from Controller General of Accounts shows capital expenditure for April-June 2020, at Rs 88,273 crore, was 40% higher than a year ago, though the gap narrowed to just 4% by July-end

Power generation, rail freight show gains among weekly economic indicators

Gains seen compared to the previous week, besides improvement relative to 2019

Experts advise caution on stagflation fears amid 24% GDP contraction

Say Centre, RBI should ensure their policies don't stoke inflation

Statsguru: 24% GDP contraction and enormity of Centre's fiscal challenge

If annual expenditure is kept unchanged from the budgeted Rs 30 trillion, a worst-case scenario can push Centre's fiscal deficit to 8.1 per cent of GDP

Increase infrastructure spending to revive economy: P Chidambaram

Chidambaram has advised the government to increase spending in infrastructure to revive the Indian economy, as the GDP has contracted by 23.9 per cent in the first quarter of the 2020-21 fiscal.

Need long-term roadmap to improve automobile contribution to GDP: NRI India

A long-term regulatory roadmap is required for the automobile industry to grow and increase its contribution to GDP to 12 per cent from the current 7 per cent

India witnessing V-shaped recovery; lockdown led to drop in economy: FinMin

The finance ministry on Friday said the country is witnessing a V-shaped economic recovery and attributed the steep 23.9 per cent contraction of the economy in the June quarter to "stringent lockdown" that was put in place to curb spreading of coronavirus infections. Among the major economies, India witnessed the steepest decline in the GDP growth in the April-June quarter following the outbreak of the coronavirus pandemic. "The higher contraction has resulted from the stringent lockdown that India enforced in the April-June quarter. India enforced the most stringent lockdown as reflected in the Government Response Stringency Index developed by Oxford University," the ministry said in its Monthly Economic Review for August. US economy contracted by 9.1 per cent while UK and France witnessed a contraction of 21.7 per cent and 18.9 per cent, respectively. Spain, Italy and Germany saw their economies contract 22.1 per cent, 17.7 per cent and 11.3 per cent, respectively, in the June ...

India reeling under 'Modi-made disasters': Rahul on economic slowdown

Chief Economic Adviser K V Subramanian has said the economy was "experiencing a V-shaped recovery" after the lockdown was eased

India among large EMs set for highest debt burden by 2021, says Moody's

Large emerging market sovereigns will have higher debt burdens for the next few years, says ratings agency.

India's fiscal deficit crosses full-year budgeted target in four months

Net tax receipts were Rs 2.03 trillion, while total expenditure was Rs 10.5 trillion

India GDP numbers out today: Facts and analyses

Fiscal deficit to touch 7% in FY21 as Covid hits revenue: Brickwork Ratings

Revenue from income taxes (personal income tax and corporate income taxes) was lower by 30.5 per cent, and the GST by almost 34 per cent during the period

India will need to find jobs for additional 90 mn, says McKinsey report

The figures do not include 55 million women who may come back to the labour force to "partially correct the historical underrepresentation"