PM Modi reviews impact of Covid-19 on economy

PM Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with finance minister Nirmala Sitharaman as sectors from small industries to aviation are hit hard with millions of jobs at stake. The meeting comes amid drastic

‘GDP projections by World Bank, IMF too optimistic’

Former chief economic adviser (CEA) Arvind Subramanian on Wednesday said the GDP (gross domestic product) numbers being projected by the World Bank and IMF (International Monetary Fund) for India are far “too optimistic” and the country would require additional expenditure of Rs 10 lakh crore to bring the coronavirus-hit economy back on track.

IMF projects India’s growth rate at 1.9% in 2020

The International Monetary Fund on Tuesday projected a GDP growth of 1.9% for India in 2020, as the global economy hits the worst recession since the 1930s due to the Covid-19 pandemic that has nearly stalled all economic activities across the world. With this subdued forecast, India is likely to record its worst growth performance

‘Extended lockdown to cause $234.4bn eco loss’

Extension of the nationwide lockdown till May 3 will inflict an economic loss of $234.4 billion, and result in stagnant GDP for the calendar year 2020, a British brokerage said on Tuesday. The economic growth will be zero for the calendar year 2020 and when seen from a fiscal year perspective, will rise 0.8 per

‘India’s GDP may dip to 1.6% in FY21’

India’s GDP growth is estimated to plunge to 1.6% for fiscal year 2021 due to the impact of the Covid-19 pandemic, down from the earlier projection of 3.3%, Goldman Sachs economists have said. “The 1.6% growth for FY21 would be deeper compared to widely perceived ‘recessions’ India experienced in the 1970s, 1980s and in 2009,”

India’s budget under strain on day 1 of new fiscal

Finance minister Nirmala Sitharaman has already outlined a virus relief package of Rs 1.7 lakh cr ($22.5 billion) and may be planning more support. That could push up the govt’s fiscal deficit target to as high as 6.2% of GDP. Even before the virus, India was on track for its weakest expansion in more than

Covid-19: FY21 GDP growth may fall to 3-decade low

he impact of the coronavirus pandemic and the consequent 21-day countrywide lockdown will push India’s GDP growth to 2.6% for FY21, the lowest in nearly three decades, according to an estimate released by SBI group chief economic adviser Soumya Kanti Ghosh. Moreover, ratings agency Crisil has slashed its forecast to 3.5% from the earlier 5.2%.

Q3 GDP growth rate at 4.7%; January core sector growth at 2.2%

India’s gross domestic product (GDP) growth for the third quarter (October-December) stood at 4.7 per cent from 5.1 per cent in the July-September quarter, government data showed on Friday. The revision for the September quarter was up sharply from the 4.5 per cent preliminary report, which would have been the weakest growth in more than

Coronavirus to have limited impact on India: RBI guv

The coronavirus outbreak will have a limited impact on India but the global GDP and trade will definitely get affected due to the large size of the Chinese economy, RBI governor said. The deadly virus has brought a large part of the world’s second-largest economy China to a standstill and its impact has been felt

No cut again: RBI leaves repo rate unchanged at 5.15%

The RBI kept repo rate unchanged for the second consecutive time at 5.15 per cent and reverse repo rate at 4.90 per cent in its sixth bi-monthly monetary policy meet. It also decided to continue with its accommodative stance. The central bank has pegged GDP growth for 2020-21 at 6 per cent. It also anticipates

Economy not in recession: Anurag Thakur

In a written reply to a question in the Lok Sabha, minister of state for finance Anurag Thakur said that according to the IMF (International Monetary Fund) estimates, India continues to be among the fastest-growing economies in the world and its gross domestic product (GDP) is estimated to grow at 5.8 per cent in 2020-21

GDP growth rate for 2018-19 revised downwards to 6.1%

The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1% from 6.8%. Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at Rs 139.81 lakh crore and Rs 131.75 lakh crore, respectively, showing growth of 6.1% during 2018-19 and 7.0% during 2017-18, said NSO in

PM calls for focussed effort to make India $5tn eco

Unfazed by projections of GDP growth slowing to an 11-year low in the current fiscal, PM Modi on Thursday said fundamentals of the Indian economy are strong and it has the capacity to bounce back. Modi, who seems to have taken charge of efforts to revive the economy, has over the past few days held

T.I. – We Will Not (US Or Else: Letter To The System Album)

[Intro] Ugh No we will not Ugh, no [Verse] No we will not stand here in silence While they take the lives of our brothers and sisters and partnas We will not turn a blind eye to the murder with no repercussions Oh no, we will not We will not live on our knees, we