Author: Economy

GDP Credit Suisse has sharply lowered its real GDP growth forecast for this fiscal year to around 8.5-9 per cent, citing economic disruptions in the country due to the raging second wave that is likely to shave 100-150 bps growth off the economy. The Swiss brokerage has also warned that it will delay the economy […]

Despite the current situation, the RBI does not see significant revisions to growth or inflation forecasts for now. RBI. (PC-Reuters) On May 5, the Reserve Bank of India (RBI) announced a set of measures to offset potential pain from the second wave of COVID and indicated it remains open to providing further relaxations depending on […]

A bank customer is eligible for overdraft facility against its bank FD. This feature of the bank FD helps investor raise fund during financial emergency. India’s fiscal response to the COVID-19 pandemic has so far been conservative, according to a new report, which suggested a Rs 5.5 lakh crore stimulus package to deal with the […]

Representative Image The fast-rising second wave of COVID-19 in India is threatening economic recovery, and if the virus is not contained at this juncture, the consequences could be severe, said experts. An exponential rise in cases over the last few weeks has crippled the healthcare and medical infrastructure of the country. Regional lockdowns and restrictions have once […]

The technical education regulatory body said in a circular that such students should be allowed to access the wi-fi facility so that their academic progress continues uninterrupted. Representative Image The All India Council for Technical Education (AICTE) has asked higher education institutions to share their internet bandwidth with students from other colleges, institutes in the […]

GDP The spiralling crisis from resurgence of COVID-19 cases in India has dented support for the ruling BJP but voter support for Prime Minister Narendra Modi and his party will remain strong over the coming quarters and through this humanitarian crisis, Fitch Solutions said Thursday. The sudden and steep surge in the number of coronavirus […]

“This is an early indication,” Madhavan Rajeevan, secretary of the Ministry of Earth Sciences, said in a tweet. Reuters May 06, 2021 / 02:56 PM IST [Image: Reuters] Monsoon rains that mark the start of the four-month rainy season are likely to enter India through the southern coast around June 1, in line with typical […]

According to the report, around 30 percent of people in some states did not get ration as per Pradhan Mantri Gareeb Kalyan Yojana, which needs to be investigated. (Image: Shutterstock) The government will need to roll out a relief package worth Rs 8 lakh crore to contain hardships being faced by lower-income groups due to […]

The US-based rating agency in March had a 11 per cent GDP growth forecast for India for the April 2021-March 2022 fiscal on account of a fast economic reopening and fiscal stimulus. PTI May 05, 2021 / 01:36 PM IST GDP S&P Global Ratings on Wednesday slashed India’s GDP growth forecast for the current financial […]

Source: Reuters The Reserve Bank of India (RBI) on May 5 announced a slew of measures to help the financial services industry tide over the second coronavirus wave that threatens economic recovery. “RBI has continued to show its commitment to remain dovish and accommodative till the uncertainty of COVID prevails,” said Devang Shah, Co-Head-Fixed Income at Axis AMC. […]

Image: AP Even as India struggles with the second wave of coronavirus with daily infections reaching a high of over four lakh, several forecasters have warned of a potential worsening of the crisis with the death toll more than doubling from the current levels in the coming weeks. A mathematical model used by a team at […]

Of this personal income tax refunds worth Rs 5,047 crore has been issued in over 11.51 lakh cases. Corporate tax refunds of Rs 10,392 crore have been issued to 21,487 taxpayers. PTI May 05, 2021 / 02:51 PM IST Banks that offer highest interest rate on savings account. The Income Tax department on Wednesday said […]

Finance Ministe Nirmala Sitharaman and Minister of State for Finance Anurag Thakur (Image: Finance Ministry Twitter handle) The Centre may call a meeting of the Goods and Service Tax (GST) Council within the next few weeks, with the agenda likely to be tax rates on items that are essential in the fight against COVID-19. This […]

Source: Reuters OPEC’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end of March as overall purchases by Asia’s third largest economy fell to a six-year low, data obtained from industry and trade sources showed. Total crude imports by the world’s third-biggest oil importer […]

GDP Blaming the slow pace of vaccinations and uncertainty around the number of those infected and dead in the second COVID-19 wave, global brokerage firm Barclays cut India’s FY22 GDP growth estimate to 10 per cent from earlier 11 per cent. If the ongoing localised lockdowns continue till June, it will lead to economic losses […]

In March, manufacturing Purchasing Managers’ Index (PMI) was at a seven-month low of 55.4, according to data from IHS Markit. Manufacturing (Image: Shutterstock) India’s manufacturing PMI remains stable in April at 55.5, as economic conditions in India’s manufacturing sector remained favourable during the month. In March, manufacturing Purchasing Managers’ Index (PMI) was at a seven-month low […]

Imports too rose to USD 45.45 billion last month as against USD 17.09 billion in April 2020. PTI May 02, 2021 / 09:44 AM IST Imports too rose to USD 45.45 billion last month as against USD 17.09 billion in April 2020. India’s exports in April jumped nearly three-folds to USD 30.21 billion from USD […]

Over the last 30 years, the US economy has been home to capitalism and has created a thriving infrastructure for entrepreneurship and growth. In contrast, although India has been known as a growth market with a robust 6-8 percent average GDP growth, over the last decade, it has been plagued with multiple issues resulting from […]