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The 7.7% contraction, if it materialises,would mark India’s worst economic performance since 1961-62, the earliest period for which GDP data is available on the website of the Centre for Monitoring Indian Economy (CMIE).

GDP projected to shrink 7.7% this fiscal: Advanced estimate

Hindustan Times, New Delhi | By Roshan Kishore and Rajeev Jayaswal, New Delhi
UPDATED ON JAN 08, 2021 12:38 AM IST
Nominal GDP, which is the base for revenue projections in the budget, is expected to contract by 4.2%. 2020-21 The Union Budget had projected nominal GDP growth of 10%.
The better-than-expected Q2 numbers came in from manufacturing/electricity and other utilities with positive growth numbers, while mining and construction saw significant reduction in contraction.(AP)
The better-than-expected Q2 numbers came in from manufacturing/electricity and other utilities with positive growth numbers, while mining and construction saw significant reduction in contraction.(AP)

Ind-Ra revises FY21 GDP contraction to 7.8% on easing pandemic headwinds

Mumbai | By Press Trust of India | Posted by Nilavro Ghosh
PUBLISHED ON DEC 24, 2020 03:03 PM IST
Accordingly, it expects 7.8% contraction in 2020-21 as against (-) 11.8% earlier, and GDP to grow by 9.6% in 2021-22, mainly due to the weak base of 2020-21, India Ratings chief economist Devendra Pant said in a report.
Two government reports suggest that there is significant ambiguity about the number of women workers in the country.(HT File Photo)
Two government reports suggest that there is significant ambiguity about the number of women workers in the country.(HT File Photo)

Are we undercounting India’s women workers?

Hindustan Times, New Delhi | By Roshan Kishore and Abhishek Jha
UPDATED ON DEC 18, 2020 08:27 AM IST
An HT analysis of per capita worker incomes and per capita incomes in China and India showed that India’s gap with China was much larger when it came to per capita incomes than per worker incomes.
Out of the 41 high frequency leading indicators, 58 per cent are showing acceleration in the third quarter.(AP)
Out of the 41 high frequency leading indicators, 58 per cent are showing acceleration in the third quarter.(AP)

FY21 GDP to contract at 7.4% on better recovery: SBI report

Mumbai | By Press Trust of India | Posted by Shivani Kumar
UPDATED ON DEC 16, 2020 03:34 PM IST
Apart from Q3 FY21, the Q4 growth will also be in positive territory (at 1.7 per cent). However, all projections are conditional on the absence of another wave of infections, the report said.
In the case of India, OECD has predicted a marginally steeper contraction than the 9.5% forecast by the RBI in fiscal 2021.(Sanjeev Verma/HT PHOTO (Representative image))
In the case of India, OECD has predicted a marginally steeper contraction than the 9.5% forecast by the RBI in fiscal 2021.(Sanjeev Verma/HT PHOTO (Representative image))

India’s GDP could rebound to 7.9% in 2021, says OECD

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 02, 2020 05:57 AM IST
India is expected to rebound to grow 7.9% in 2021 after recording a contraction of 9.9% this year (2020-21 in its case) and expand 4.8% in 2022.
Data released Friday by the National Statistical Office showed industry normalizing faster than the service sector.(PTI File Photo)
Data released Friday by the National Statistical Office showed industry normalizing faster than the service sector.(PTI File Photo)

India’s economy contracts by 7.5%, enters ‘technical recession’

New Delhi | By Associated Press | Posted by Kanishka Sarkar
UPDATED ON NOV 27, 2020 10:06 PM IST
The contraction occurred despite the government’s lifting of a strict two-month lockdown imposed across the country in March after the outbreak of the pandemic. A country enters a technical recession if its economy contracts for two successive quarters.
The economy had grown at 3.1% in the January-March quarter, its slowest pace in at least eight years. The GDP data had shown that consumer spending slowing, private investments and exports contracting in the March quarter.(Bloomberg file photo. Representative image)
The economy had grown at 3.1% in the January-March quarter, its slowest pace in at least eight years. The GDP data had shown that consumer spending slowing, private investments and exports contracting in the March quarter.(Bloomberg file photo. Representative image)

India’s GDP in September quarter contracts 7.5%: Govt data

Hindustan Times, New Delhi | By hindustantimes.com| Edited by: Meenakshi Ray
UPDATED ON NOV 27, 2020 06:17 PM IST
Analysts had said that they marked a significant improvement from the massive 23.9% contraction seen in the GDP numbers for the quarter ending June. The Reserve Bank of India’s (RBI) internal model expected a GDP contraction of 8.6% in the September quarter.
A man walks wearing a mask next to the Bombay stock exchange building.(Pratik Chorge/HT Photo)
A man walks wearing a mask next to the Bombay stock exchange building.(Pratik Chorge/HT Photo)

Sensex, Nifty slip before GDP data; auto stocks shine

Bengaluru | By Reuters | Posted by Kanishka Sarkar
UPDATED ON NOV 27, 2020 04:01 PM IST
The NSE Nifty 50 index closed 0.14% lower at 12,968.95, while the S&P BSE Sensex ended 0.25% lower at 44,149.72.
Union finance minister Nirmala Sitharaman addressing a press conference on Cabinet decisions at National Media Centre, in New Delhi on Wednesday.(Sanjeev Verma/HT PHOTO)
Union finance minister Nirmala Sitharaman addressing a press conference on Cabinet decisions at National Media Centre, in New Delhi on Wednesday.(Sanjeev Verma/HT PHOTO)

Finance minister Nirmala Sitharaman says India witnessing active economic recovery

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Kanishka Sarkar
UPDATED ON NOV 12, 2020 01:46 PM IST
Nirmala Sitharaman’s address comes hours after a team of economists including Michael Patra, Reserve Bank of India’s deputy governor in charge of monetary policy said that the India’s economy probably shrank for a second straight quarter pushing the country into an unprecedented recession.
The focus of the government is on public spending to boost economic activity, Sitharaman said(ANI)
The focus of the government is on public spending to boost economic activity, Sitharaman said(ANI)

India’s growth this year will be negative or near zero, says finance minister Nirmala Sitharaman

New Delhi | By Press Trust of India | Posted by Nilavro Ghosh
PUBLISHED ON OCT 27, 2020 06:13 PM IST
Speaking at the India Energy Forum of CERAWeek, she said there was a “very firm lockdown” imposed beginning March 25 as the government put lives before livelihood.
Rahul Gandhi slammed the government over IMF’s GDP projection for India this fiscal year.(Ajay Aggarwal/HT Photo)
Rahul Gandhi slammed the government over IMF’s GDP projection for India this fiscal year.(Ajay Aggarwal/HT Photo)

‘Even Pak, Afghanistan handled Covid-19 better’: Rahul Gandhi’s dig at govt over IMF’s India projections

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Kanishka Sarkar
UPDATED ON OCT 16, 2020 11:17 AM IST
While Pakistan and Afghanistan are expected to experience a dip of 0.40% and 5% in their GDP growth this fiscal, India’s GDP is likely to shrink by 10.3%, the biggest slump of any major emerging nation and the worst since Independence.
In 2017, India was the seventh-largest economy in the world. The study took that as the base year and calculated the growth of the country.(Reuters)
In 2017, India was the seventh-largest economy in the world. The study took that as the base year and calculated the growth of the country.(Reuters)

India to be third-largest economy in world by 2050, says study

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Shivani Kumar
UPDATED ON OCT 11, 2020 11:51 AM IST
The researchers studied working-age population trends of countries and calculated Gross Domestic Product (GDP) based on the data-driven scenarios.
On April 24, the Centre had held back payments of DA to all its employees for 18 months and proposed a similar move for state government staff to cumulatively save about Rs 1.20 lakh crore.(Representational Photo/REUTERS File)
On April 24, the Centre had held back payments of DA to all its employees for 18 months and proposed a similar move for state government staff to cumulatively save about Rs 1.20 lakh crore.(Representational Photo/REUTERS File)

A second stimulus needed to boost the economy: EY

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON SEP 30, 2020 12:00 PM IST
The latest edition of Economy Watch said rather than providing a net fiscal stimulus, the Central and state governments together provided a net fiscal “de-stimulus”
Finance minister Nirmala Sitharaman during the fifth and final briefing on Centre’s economic stimulus package on May 17, 2020.(Sonu Mehta/HT Photo)
Finance minister Nirmala Sitharaman during the fifth and final briefing on Centre’s economic stimulus package on May 17, 2020.(Sonu Mehta/HT Photo)

Open to one more stimulus if necessary: Nirmala Sitharaman

Hindustan Times, New Delhi | By R Sukumar
UPDATED ON SEP 29, 2020 03:12 AM IST
Finance minister Nirmala Sitharaman said some industries have told her that domestic demand is increasing and they are also seeing export orders increasing faster than their expectations.
The finance ministry has, however, not disclosed its GDP estimates for the current financial year but most forecasters are now projecting a GDP contraction of more than 10%. (AFP photo)
The finance ministry has, however, not disclosed its GDP estimates for the current financial year but most forecasters are now projecting a GDP contraction of more than 10%. (AFP photo)

Nominal GDP to grow at 19%in FY22: Govt

Hindustan Times, New Delhi | By Gireesh Chandra Prasad and Asit Ranjan Mishra, New Delhi
PUBLISHED ON SEP 21, 2020 12:32 AM IST
It is a bit more modest than some optimistic estimates that the Fifteenth Finance Commission has received from experts, the Commission’s chairman, NK Singh, said in an interview, citing a presentation made by the finance ministry’s chief economic adviser, Krishnamurthy Subramanian.
FILE PHOTO: New Zealand Prime Minister Jacinda Ardern (REUTERS/Loren Elliott)
FILE PHOTO: New Zealand Prime Minister Jacinda Ardern (REUTERS/Loren Elliott)

New Zealand economy in deepest recession as second-quarter GDP shrinks

Wellington | By Reuters | Posted by Karan Manral
UPDATED ON SEP 17, 2020 07:52 AM IST
The Pacific nation’s GDP contracted a seasonally adjusted 12.2% quarter-on-quarter, its sharpest quarterly contraction on record. Year-on-year, it fell 12.4%.
The Centre has listed 38 bills — including 11 ordinances — for passage in the curtailed session(Sanjeev Verma/HT PHOTO)
The Centre has listed 38 bills — including 11 ordinances — for passage in the curtailed session(Sanjeev Verma/HT PHOTO)

GDP, LAC buzzwords as Covid-era session begins today

Hindustan Times, New Delhi | By Saubhadra Chatterji
UPDATED ON SEP 14, 2020 12:56 PM IST
At least five lawmakers may have tested positive in the last two days during the pre-session screening using the reverse transcriptase-polymerase chain reaction (RT-PCR) test.
FILE PHOTO: The offices of Fitch Ratings building appears empty in Canary Wharf, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 27, 2020. REUTERS/Dylan Martinez/File photo
FILE PHOTO: The offices of Fitch Ratings building appears empty in Canary Wharf, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 27, 2020. REUTERS/Dylan Martinez/File photo

Fitch projects Indian economy to contract 10.5% this fiscal

New Delhi | By Press Trust of India | Posted by Karan Manral
UPDATED ON SEP 08, 2020 11:28 AM IST
This comes on the back of India recording one of the sharpest GDP contractions (-23.9%) in the world in April-June.
Deputy Chief Minister of Delhi Manish Sisodia(Arvind Yadav/HT PHOTO)
Deputy Chief Minister of Delhi Manish Sisodia(Arvind Yadav/HT PHOTO)

Law should be made for spending 6% of GDP on education: Sisodia

New Delhi | By Asian News International| Posted by Nandini
PUBLISHED ON SEP 08, 2020 08:48 AM IST
Delhi Deputy Chief Minister Manish Sisodia on Monday said a law should be made for spending six per cent of GDP to education.
A woman wearing a protective face mask buys fruit in a market in Mumbai.(REUTERS)
A woman wearing a protective face mask buys fruit in a market in Mumbai.(REUTERS)

India’s real GDP expected to contract by 5.2 pc in FY21: Motilal Oswal

Mumbai | By Asian News International | Posted by Arpan Rai
PUBLISHED ON SEP 01, 2020 04:25 PM IST
Following the last quarter’s worse-than-expected contraction, Motilal Oswal has now revised the forecast for GDP decline to 5.2 per cent year-on-year in FY21 followed by 8 per cent growth in FY22.
Fertiliser production continued to grow for the third straight month, as the farm sector was relatively unaffected by curbs.(mint)
Fertiliser production continued to grow for the third straight month, as the farm sector was relatively unaffected by curbs.(mint)

Core sector output shrinks by 9.6% in July

Livemint, New Delhi | By Gireesh Chandra Prasad
UPDATED ON SEP 01, 2020 07:31 AM IST
The production of cement and refinery products shrank more in July than in June, indicating sluggish demand.
A shopkeeper sprays disinfectant on currency notes of a customer after buying liquor from a wine shop at Chander Nagar in East Delhi.(PTI)
A shopkeeper sprays disinfectant on currency notes of a customer after buying liquor from a wine shop at Chander Nagar in East Delhi.(PTI)

The Indian economy, in three time horizons

Hindustan Times, New Delhi | By Roshan Kishore
UPDATED ON SEP 01, 2020 04:00 AM IST
GDP growth declined continuously for eight quarters except an 8 basis point blip between December 2018 and March 2019.
Customers interact with a shopkeeper at a garment store in Old Delhi.(PTI)
Customers interact with a shopkeeper at a garment store in Old Delhi.(PTI)

Coordinated response needed to revive economy

Hindustan Times, New Delhi | By Roshan Kishore
UPDATED ON SEP 05, 2020 08:35 AM IST
PMI for services showed a flattening in July. It improved marginally to 34.2 from its value of 33.7 in June.
Migrant workers arriving from other states wait their turns for rapid antigen tests for COVID-19 at Anand Vihar bus terminal in New Delhi.(Amal KS/HT PHOTO)
Migrant workers arriving from other states wait their turns for rapid antigen tests for COVID-19 at Anand Vihar bus terminal in New Delhi.(Amal KS/HT PHOTO)

Lockdown phase took severe toll on economic activity

Hindustan Times, New Delhi | By Roshan Kishore
UPDATED ON SEP 01, 2020 09:12 PM IST
A Bloomberg poll of 15 economists expected the contraction to be 19.2%. India was under an almost complete lockdown for the months of April and May.
A man wearing a protective face mask walks past a labourer resting on a handcart in a closed wholesale market in West Bengal.(REUTERS)
A man wearing a protective face mask walks past a labourer resting on a handcart in a closed wholesale market in West Bengal.(REUTERS)

India’s economy was facing worst-ever deceleration before Covid-19 hit

Hindustan Times, New Delhi | By Roshan Kishore
UPDATED ON SEP 01, 2020 04:00 PM IST
Even before the full force of the pandemic hit India (which was really in April-June quarter in terms of livelihoods; and July onwards in terms of lives with both cases and deaths rising), the slowdown was already worse than the one the Indian economy went through in 2011-12.
Labourers work inside a wholesale grain market during a nationwide lockdown in Chandigarh.(REUTERS)
Labourers work inside a wholesale grain market during a nationwide lockdown in Chandigarh.(REUTERS)

Indian economy sees a record fall

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON SEP 01, 2020 02:08 AM IST
The contraction, the worst on record, was sharper than estimated by economists and could mean that the full year gross domestic product (GDP) for 2020-21 contracts by around 10%.
According to health ministry data, the novel coronavirus tally in India crossed 36 lakh on Monday with 78,512 new cases.(Satyabrata Tripathy/HT Photo)
According to health ministry data, the novel coronavirus tally in India crossed 36 lakh on Monday with 78,512 new cases.(Satyabrata Tripathy/HT Photo)

India’s GDP to decline by 10 per cent in FY21, say experts

New Delhi | By Press Trust of India | Posted by Arpan Rai
PUBLISHED ON AUG 31, 2020 11:06 PM IST
India’s GDP shrank by the steepest ever 23.9 per cent in the April-June period as the coronavirus lockdowns battered an already slowing economy, official data showed on Monday.
A man sorts onions at a vegetable wholesale market in Mumbai, India.(REUTERS)
A man sorts onions at a vegetable wholesale market in Mumbai, India.(REUTERS)

Q1 GDP growth contracts by 23.9 per cent as Covid-19 cripples economic activities

New Delhi | By Asian News International | Posted by Arpan Rai
PUBLISHED ON AUG 31, 2020 08:21 PM IST
“The GDP at constant (2011-12) prices in Q1 of 2020-21 is estimated at Rs 26.9 lakh crore as against Rs 35.35 lakh crore in Q1 of 2019-20, showing a contraction of 23.9 per cent as compared to 5.2 per cent growth in Q1 2019-20,” said the Ministry of Statistics and Programme Implementation in a statement.
Former finance minister P Chidambaram said the Congress and other opposition parties had warned and urged the government to take preventive and pre-emptive measures to revive the economy.(HT PHOTO.)
Former finance minister P Chidambaram said the Congress and other opposition parties had warned and urged the government to take preventive and pre-emptive measures to revive the economy.(HT PHOTO.)

GDP estimates a matter of shame for Modi government, says Chidambaram

Hindustan Times, New Delhi | By HT Correspondent | Edited by Sohini Sarkar
UPDATED ON SEP 01, 2020 06:22 AM IST
Chidambaram said the “economic tragedy” was foretold by many close observers of the Indian economy, most recently by the RBI in its annual report released a few days ago.
Labourers wearing protective face masks load grocery items onto a supply truck at a wholesale market during the coronavirus disease outbreak in Kolkata.(REUTERS)
Labourers wearing protective face masks load grocery items onto a supply truck at a wholesale market during the coronavirus disease outbreak in Kolkata.(REUTERS)

India’s economy plunges by record 23.9 per cent after lockdown

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON AUG 31, 2020 07:53 PM IST
Gross domestic product shrank 23.9% in the three months to June from a year earlier, the Statistics Ministry said in a report Monday.
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