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The Narendra Modi government has, to its credit, also unleashed important second-generation reforms in critical sectors such as labour and agriculture during the pandemic(PTI)

The economy is looking up | HT Editorial

By HT Correspondent | Hindustan Times
UPDATED ON JAN 08, 2021 08:01 PM IST
Focus on public spending, demand, and helping the informal sector
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A worker uses a blowtorch outside the construction site in New Delhi.(Bloomberg)
A worker uses a blowtorch outside the construction site in New Delhi.(Bloomberg)

Economy expected to contract 7.7% in 2020-21 compared to 4.2% growth in 2019-20: Report

By Press Trust of India | Posted by Shankhyaneel Sarkar | Hindustan Times, New Delhi
UPDATED ON JAN 07, 2021 06:24 PM IST
Indian economy expected to contract 7.7% in 2020-21 compared to 4.2% growth in 2019-20, reports PTI citing govt data
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Workers clean the exterior wall roof of Terminal 2 of the Chhatrapati Shivaji International Airport, operated by GVK Power & Infrastructure Ltd at Andheri in Mumbai.(Satyabrata Tripathy/HT Photo)
Workers clean the exterior wall roof of Terminal 2 of the Chhatrapati Shivaji International Airport, operated by GVK Power & Infrastructure Ltd at Andheri in Mumbai.(Satyabrata Tripathy/HT Photo)

Govt planning to boost spending to counter Covid-19 impact on economy

By Bloomberg | Posted by Shankhyaneel Sarkar
UPDATED ON DEC 30, 2020 10:21 PM IST
Curbs imposed by the finance ministry on more than 80 government departments and ministries earlier in the year to preserve cash were relaxed this quarter.
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The tourism sector went into a tailspin and hordes of migrants returned home as coronavirus cast its shadow on the country and hit Uttarakhand’s economy hard in the past year.(Unsplash)
The tourism sector went into a tailspin and hordes of migrants returned home as coronavirus cast its shadow on the country and hit Uttarakhand’s economy hard in the past year.(Unsplash)

Uttarakhand: A year of turmoil for tourism, economy

By Press Trust of India | Posted by Shivani Kale | Dehradun
UPDATED ON DEC 30, 2020 01:19 PM IST
The tourism sector went into a tailspin and hordes of migrants returned home as coronavirus cast its shadow on the country and hit Uttarakhand’s economy hard in the past year.
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In a developing country such as India, there is a continuing debate on carbon-intensive growth versus environment and health. But as The Lancet study shows, increasing pollution load is erasing the very economic and human development gains that the country aspires to achieve(AP)
In a developing country such as India, there is a continuing debate on carbon-intensive growth versus environment and health. But as The Lancet study shows, increasing pollution load is erasing the very economic and human development gains that the country aspires to achieve(AP)
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Saudi Crown Prince Mohammed bin Salman said Saudi Arabia’s investment plans in India are on track(Raj K Raj/HT Photo)
Saudi Crown Prince Mohammed bin Salman said Saudi Arabia’s investment plans in India are on track(Raj K Raj/HT Photo)

Our investment plans on track, Indian economy has strength to bounce back: Saudi

By Press Trust of India | Posted by Prashasti Singh | London
UPDATED ON DEC 21, 2020 07:40 AM IST
In February last year, Saudi Crown Prince Mohammed bin Salman announced that Saudi Arabia would invest over USD 100 billion in India in petrochemicals, refining, infrastructure, mining and manufacturing, agriculture and several other sectors.
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Nearly a third of that is going to sectors that affect carbon emissions and biodiversity - energy, industry, waste management, transport and farming - but the researchers identified only $567 billion as green spending.(AP (Representative Image))
Nearly a third of that is going to sectors that affect carbon emissions and biodiversity - energy, industry, waste management, transport and farming - but the researchers identified only $567 billion as green spending.(AP (Representative Image))

Few major economies investing in nature-friendly Covid-19 recovery

By Reuters | Posted by Nilavro Ghosh | Barcelona
PUBLISHED ON DEC 17, 2020 05:11 PM IST
In the stimulus packages analysed, including the European Union’s, funding for action to improve biodiversity and preserve ecosystems amounted to only about $108 billion so far, compared with $219 billion linked to pollution or habitat destruction.
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Union railways minister Piyush Goyal during a press briefing.(PTI File Photo)
Union railways minister Piyush Goyal during a press briefing.(PTI File Photo)

India making efforts to deregulate economy to attract greater investments: Piyush Goyal

By Press Trust of India | Posted by Kanishka Sarkar | New Delhi
PUBLISHED ON DEC 16, 2020 11:37 PM IST
Piyush Goyal said, “India is looking forward for working with friends and neighbours, and having a global footprint. India is working to turn the COVID crisis into an opportunity, and is confident of reaching the target of $5 trillion economy by 2025, and $10 trillion in another 7-10 years.”
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The MNREGS has again proven to be a wonderful scheme, creating huge opportunities for migrant labourers who came back after the lockdown mishap(REUTERS)
The MNREGS has again proven to be a wonderful scheme, creating huge opportunities for migrant labourers who came back after the lockdown mishap(REUTERS)

To revive the economy, go back to the grassroots, writes Bhupesh Baghel

By Bhupesh Baghel
PUBLISHED ON DEC 16, 2020 08:06 PM IST
To strengthen the rural economy, we need to strengthen the rural ecology too
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“And our per capita income will go from USD 1,800-2,000 per capita to USD 5,000 per capita,” Mukesh Ambani said.(Reuters image)
“And our per capita income will go from USD 1,800-2,000 per capita to USD 5,000 per capita,” Mukesh Ambani said.(Reuters image)

India will grow to be among top 3 economies in 2 decades: Mukesh Ambani

By Press Trust of India | Posted by Prashasti Singh | New Delhi
UPDATED ON DEC 15, 2020 01:24 PM IST
At a fireside chat with Facebook head Mark Zuckerberg, he said India’s middle-class, which is about 50 per cent of the nation’s total number of households, will grow three to four per cent per year.
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A vendor wearing a protective mask hands a cup of coffee to a customer in New York, US on Thursday.(Bloomberg)
A vendor wearing a protective mask hands a cup of coffee to a customer in New York, US on Thursday.(Bloomberg)

Charting the global economy: Inflation debate picks up in US

By Bloomberg | posted by Kanishka Sarkar
PUBLISHED ON DEC 12, 2020 12:58 AM IST
While Americans are likely to see prices climb across a variety of sectors next year, thanks in part to Covid-19 vaccines that will potentially turbocharge services demand, one critical ingredient will be missing to sustain higher inflation: a tight labour market.
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The government’s first priority is to keep the pandemic spread under control. The second is to sustain the momentum of recovery, so that it enters the positive territory by the end of the third quarter(ANI)
The government’s first priority is to keep the pandemic spread under control. The second is to sustain the momentum of recovery, so that it enters the positive territory by the end of the third quarter(ANI)

The Indian economy is bouncing back | Opinion

By Jyotiraditya Scindia
UPDATED ON DEC 09, 2020 06:42 AM IST
With a judicious mix of spending and structural reforms, the government has paved the way for an impressive recovery
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The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep policy rates unchanged while retaining an accommodative stance.(File photo)
The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep policy rates unchanged while retaining an accommodative stance.(File photo)

Economy bottoming out; rebound not broad-based

By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON DEC 05, 2020 03:05 AM IST
The Indian economy was losing growth momentum even before the pandemic inflicted a huge disruption to economic activity. GDP growth was 8.2% in March 2018.
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RBI governor Shaktikanta Das said the change in forecast has been prompted by a surge in demand in both rural as well as urban areas(ANI)
RBI governor Shaktikanta Das said the change in forecast has been prompted by a surge in demand in both rural as well as urban areas(ANI)

Economy to contract at 7.5 pc for FY21 due to Covid-19 impact: RBI

By Asian News International | Posted by Ayshee Bhaduri | New Delhi
UPDATED ON DEC 04, 2020 01:11 PM IST
The second half of the fiscal year is expected to show positive growth despite disruptions caused by coronavirus pandemic, the RBI governor said.
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Australian flag cocktail sticks are seen at Australia's food booth at the third China International Import Expo (CIIE) in Shanghai.(REUTERS)
Australian flag cocktail sticks are seen at Australia's food booth at the third China International Import Expo (CIIE) in Shanghai.(REUTERS)

Australia bounces out of recession as economy grows 3.3%

By Associated Press | Posted by Arpan Rai | Wellington
PUBLISHED ON DEC 02, 2020 12:34 PM IST
Treasurer Josh Frydenberg told reporters the country still has a lot of ground to make up from the coronavirus downturn.
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A man looks at bags displayed outside a shop, at Paharganj Market, in New Delhi.(Sanchit Khanna/HT PHOTO)
A man looks at bags displayed outside a shop, at Paharganj Market, in New Delhi.(Sanchit Khanna/HT PHOTO)

From small businesses to farmers, middle India is driving demand in pandemic-hit economy

By Reuters | Posted by Shankhyaneel Sarkar | Bengauluru
UPDATED ON NOV 29, 2020 05:41 PM IST
Increased demand for air travel and hotel stays by small business owners like Mehra, accompanied by a rise in rural incomes and spending after two good monsoons, is helping the pandemic-hit Indian economy slowly recover.
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The GSTN has also been directed to send 1 lakh SMS and e-mail reminders per day to the taxpayers,(PTI Photo)
The GSTN has also been directed to send 1 lakh SMS and e-mail reminders per day to the taxpayers,(PTI Photo)

Tax officials to persuade 25,000 entities to file monthly GST returns by Monday

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON NOV 29, 2020 09:39 AM IST
Tax officers have been directed to follow up personally with these defaulting taxpayers so that their GSTR-3B returns due for the month get filed by November 30, 2020, officials said.
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Some of the improvement in the second quarter’s and subsequent numbers could also be a result of a favourable base effect, as India’s GDP growth had been falling even before the pandemic erupted.(Reuters Photo)
Some of the improvement in the second quarter’s and subsequent numbers could also be a result of a favourable base effect, as India’s GDP growth had been falling even before the pandemic erupted.(Reuters Photo)

Economy shrinks 7.5% as country enters recession

By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON NOV 28, 2020 06:58 AM IST
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Rahul Gandhi tweeted this after it was announced that India’s GDP growth contracted by 7.5 per cent in the July-September quarter. The GDP had contracted by 23.9 per cent in the April-June quarter.(HT Photo)
Rahul Gandhi tweeted this after it was announced that India’s GDP growth contracted by 7.5 per cent in the July-September quarter. The GDP had contracted by 23.9 per cent in the April-June quarter.(HT Photo)

Under PM Modi, India’s economy in recession first-time ever, tweets Rahul Gandhi

By hindustantimes.com | Edited by Prashasti Singh | Hindustan Times, New Delhi
UPDATED ON NOV 27, 2020 09:17 PM IST
The Congress leader said PM Modi needed to understand that the economy could not be ‘ordered to grow by diktats’.
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People throng a market to shop on the eve of Diwali, amidst the spread of Covid-19 in Mumbai. For its part, the government expanded fiscal stimulus to 15% of the economy, with most measures related to credit guarantee programs.(REUTERS)
People throng a market to shop on the eve of Diwali, amidst the spread of Covid-19 in Mumbai. For its part, the government expanded fiscal stimulus to 15% of the economy, with most measures related to credit guarantee programs.(REUTERS)

India’s economy seen clawing back after slipping into recession

By Bloomberg | Posted by Arpan Rai
UPDATED ON NOV 27, 2020 06:37 AM IST
A slew of indicators from car sales to services sector activity notched higher last month, while alternative data signal robust demand in an economy that’s primarily driven by domestic consumption.
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People queue at the 'click and collect' service of bookshop "Atout Livre" in Paris as all non-essential stores are closed in France to combat the coronavirus disease outbreak, France.(REUTERS)
People queue at the 'click and collect' service of bookshop "Atout Livre" in Paris as all non-essential stores are closed in France to combat the coronavirus disease outbreak, France.(REUTERS)

Coronavirus restrictions drag French economy back into a slump

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON NOV 23, 2020 02:25 PM IST
IHS Markit’s monthly index of private-sector activity dropped to 39.9 in November from 47.5 in October, a third straight month below the key 50 level.
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It further said that inflation is expected to average significantly above 6 per cent in the fourth quarter of the current fiscal and the RBI may hold policy rates in December monetary policy review meeting.(AFP Photo)
It further said that inflation is expected to average significantly above 6 per cent in the fourth quarter of the current fiscal and the RBI may hold policy rates in December monetary policy review meeting.(AFP Photo)

Indian economy may be recovering faster than anticipated: Oxford Economics

By Press Trust of India|Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON NOV 15, 2020 01:58 PM IST
Moody’s Investors Service has also revised upwards its GDP forecast for India to (-) 8.9 per cent contraction in the 2020 calendar year, as the economy reflates after a long and strict nationwide lockdown but added the recovery is patchy.
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Union Finance Minister Nirmala Sitharaman and Minister of State Anurag Thakur during a news conference in New Delhi.(PTI)
Union Finance Minister Nirmala Sitharaman and Minister of State Anurag Thakur during a news conference in New Delhi.(PTI)

India expands stimulus to 15 per cent of economy as recession looms

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON NOV 12, 2020 04:15 PM IST
The additional stimulus steps amount to about 9 trillion rupees ($120 billion), taking the nation’s total virus relief to almost 30 trillion rupees, or 15% of gross domestic product, Finance Minister Nirmala Sitharaman told reporters in New Delhi Thursday.
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People watching Prime Minister Narendra Modi’s address on a big screen at Dashashwamedh Ghat in Varanasi on Monday(HT PHOTO)
People watching Prime Minister Narendra Modi’s address on a big screen at Dashashwamedh Ghat in Varanasi on Monday(HT PHOTO)

Promote ‘local for Diwali’ to give new life to economy, says PM Narendra Modi

By HT correspondent | Hindustan Times, Varanasi
UPDATED ON NOV 09, 2020 08:38 PM IST
Prime Minister Narendra Modi said buying things made by artisans and craftsmen would brighten their Diwali and boost the give economy.
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Rathore said more than 100 people lost their lives, the country faced huge difficulties, industries were affected and lakhs lost their jobs because of demonetisation.(HT File Photo)
Rathore said more than 100 people lost their lives, the country faced huge difficulties, industries were affected and lakhs lost their jobs because of demonetisation.(HT File Photo)

Demonetisation destroyed our economy: Himachal Congress chief

By HT Correspondent | Hindustan Times/Shimla, Shimla
UPDATED ON NOV 08, 2020 11:55 PM IST
Rathore said the Reserve Bank of India had revealed that 3,421 crore were spent for printing new currency notes in 2015-16 while around 7,965 crore were spent in 2016-17
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From 2014, the Modi government embarked on transforming the economy and demonetisation was part of it to ensure government resources reach the poor and the downtrodden without corruption and leakage, BJP national spokesperson Rajeev Chandrasekhar said(PTI)
From 2014, the Modi government embarked on transforming the economy and demonetisation was part of it to ensure government resources reach the poor and the downtrodden without corruption and leakage, BJP national spokesperson Rajeev Chandrasekhar said(PTI)

Demonetisation cleaned up the economy, dealt body blow to black money: BJP

By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
UPDATED ON NOV 08, 2020 05:19 PM IST
On November 8, 2016, Prime Minister Narendra Modi had announced the decision to ban all currency notes of higher denomination of Rs 500 and Rs 1,000 from midnight.
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Volunteers watch video screens showing Chinese President Xi Jinping delivering an address to the opening ceremony of the China International Import Expo in Shanghai, Wednesday.(AP)
Volunteers watch video screens showing Chinese President Xi Jinping delivering an address to the opening ceremony of the China International Import Expo in Shanghai, Wednesday.(AP)

Chinese President Xi Jinping pledges to import more as pandemic shakes global economy

By Reuters | Posted by Kanishka Sarkar | Shanghai
PUBLISHED ON NOV 05, 2020 01:57 AM IST
China is set to be the only major economy to grow this year after largely bringing the epidemic under control, following its emergence in the central city of Wuhan last year.
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Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3% this year(File Photo)
Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3% this year(File Photo)

Indian economy recovering fast, all parameters show improvement: DEA Secretary

By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
PUBLISHED ON NOV 03, 2020 11:24 PM IST
Last week, Finance Minister Nirmala Sitharaman said there were visible signs of revival in the economy and the GDP growth may be in negative zone or near zero in the current fiscal.
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Finance minister Nirmala Sitharaman hinted as much when she said last week that India’s economic growth could be negative or near-zero this year.(File photo for representation)
Finance minister Nirmala Sitharaman hinted as much when she said last week that India’s economic growth could be negative or near-zero this year.(File photo for representation)

State of economy: Why it’s best to reserve conclusion

By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON NOV 03, 2020 08:58 AM IST
Most institutional and private forecasts expect the Indian economy to contract at a double-digit rate in the current fiscal year. This, despite the fact that the economy has been showing a sequential (month on month) improvement compared to the situation when it was locked down.
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The consumption of flat steel and long steel was down by only 5% and 10% respectively in August as against 43% and 15%, respectively, in June.(AP)
The consumption of flat steel and long steel was down by only 5% and 10% respectively in August as against 43% and 15%, respectively, in June.(AP)

How India’s economy is recovering rapidly from the pandemic

By Gajendra Singh Shekhawat
PUBLISHED ON OCT 28, 2020 06:44 PM IST
The overall economic package of 20 lakh crore, that is, 10% of India’s Gross Domestic Product (GDP) became the financial spine for a self-reliant India. The government’s effort has been to fight back and not just soldier on through the pandemic.
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