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Tuesday, June 02, 2020

India will get its growth back, need to be self reliant: PM

June 3, 2020 4:15:46 am

The Prime Minister said the world’s expectations from India has increased, and the corporate sector must take advantage of the trust that India has gained across the world during the coronavirus crisis.

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Growth will be back: PM Modi at CII Annual Session 2020

June 2, 2020 1:26:33 pm

Prime Minister Narendra Modi gave a speech at Confederation of Indian Industry's (CII) Annual Session 2020- “Getting Growth Back”.

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Moody’s lowers India rating citing low growth prospects

June 2, 2020 4:37:51 am

Moody's expects India's real GDP growth rate to contract by 4 per cent in 2020-21 due to the shock from the coronavirus pandemic and related lockdown measures.

‘Manufacturing PMI rises to 30.8 in May, but still in contraction’

June 2, 2020 3:19:42 am

“The latest reading pointed to another substantial decline in the health of the Indian manufacturing sector, albeit one that was slightly softer than recorded in April,” IHS Markit said.

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Government to infuse Rs 20,000 crore into MSME sector

June 1, 2020 5:46:03 pm

In a bid to boost the MSME sector in the country, the cabinet committee on Monday announced multiple steps taken by the government and added Rs 20,000 crores of infusion into the sector.

India’s factory slump deepens in May, headcount slides: Nikkei Manufacturing PMI

June 1, 2020 11:22:12 am

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, increased to 30.8 last month from April's record low of 27.4, still well below the 50-mark separating growth from contraction.

FPIs, domestic financial institutions invest Rs 27,500 crore into equities in May

June 1, 2020 3:04:48 am

The return of FPIs comes after they pulled out a massive Rs 61,973 crore from equities in March and Rs 6,883 crore in April amid fears of a coronavirus-induced global recession.

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Forex reserves hit all-time high on FDI, FPI inflows, fall in import expenditure

May 31, 2020 2:06:27 am

The rise in foreign exchange reserves have resulted into strengthening in the value of the rupee against the US dollar.

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Lockdown bites credit growth, outstandings to housing and priority sectors decline in April

May 31, 2020 1:30:33 am

While the overall non-food credit growth contracted by 1.2 per cent, or Rs 1.10 lakh crore to Rs 91 lakh crore, loan outstanding in the personal loan segment fell by 2.50 per cent to Rs 24.90 lakh crore, a decline of around Rs 63,000 crore.

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GST hike on non-essential items unlikely despite falling revenues

May 30, 2020 1:52:14 am

Sources indicated that as of now there is no proposal to reduce GST rate on essential items, even as it is ultimately GST Council which will take any decision on changing the tax rates and not just the central government.

Fiscal deficit widens to 4.6% of GDP in FY20

May 30, 2020 1:58:33 am

This was the highest level of deficit for the Centre since FY13.

Modi govt second term, first year: Already struggling, Covid adds to govt’s challenges

May 30, 2020 8:24:56 am

The downward spiral has been accentuated by the lockdown that was enforced since late March to tackle the spread of Covid-19 pandemic, with most economists projecting that the Indian economy will record a contraction in GDP this year, while any recovery is expected to be long drawn process.

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GST Council to meet next month; FinMin not for raising rates on non-essential items

May 29, 2020 8:59:14 pm

If goods and services tax (GST) rates are increased on non-essential items, sources said it will further bring down their demand and impede the overall economic recovery.

GDP growth slows to 3.1% in Q4; fiscal deficit widens to 4.59% of GDP in 2019-20

May 29, 2020 8:41:51 pm

Gross Domestic Product (GDP) 4th Quarter Data: The growth in GDP during 2019-20 is estimated at 4.2 per cent, slowing to an 11-year low, as compared to 6.1 per cent in 2018-19.

FDI in India jumps 13% to record $49.98 billion in 2019-20

May 28, 2020 6:12:06 pm

Singapore emerged as the largest source of FDI in India during the last fiscal with USD 14.67 billion investments.

S&P projects Indian economy to contract 5% in FY21

May 28, 2020 11:59:55 am

"We have lowered our growth forecast for fiscal year ending March 2021 to a 5 per cent contraction... We currently assume that the outbreak peaks by the third quarter," S&P said in a statement.

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Krishnamurthy Subramanian: ‘Significant uncertainty about growth … after Spanish flu, recovery was V-shaped’

May 28, 2020 11:50:02 am

Chief Economic Adviser Krishnamurthy Subramanian said it is difficult to make a reliable estimate on growth given the kind of uncertainty resulting from effects of COVID-19 pandemic.

‘Q4FY20 GDP growth likely to be 1.2%, may contract 6.8% in FY21’

May 27, 2020 1:42:57 am

According to the SBI’s research report ‘Ecowrap’, gross domestic product (GDP) growth is likely to be 4.2 per cent for the full year of FY20.

India’s GDP growth seen at 1.2% for Q4 FY20: SBI report

May 26, 2020 4:38:19 pm

According to the SBI's research report - Ecowrap - the gross domestic product (GDP) growth is likely to be 4.2 per cent for FY20 and (-) 6.8 per cent for FY21.

‘I am confident migrant labourers will return but we need to create confidence in their minds’

Nitin Gadkari: I am confident migrant labourers will return but we need to create confidence in their minds

May 24, 2020 9:15:57 am

In an e-Adda hosted by The Indian Express, Nitin Gadkari, Union Minister of Road, Transport & Highways and MSME, spoke on clearance of dues to MSMEs, how to get demand back in the market and restarting industry.