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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%.
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.
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.
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.
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.
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.
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.
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.
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.
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.
‘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.
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.
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”
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.
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.
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%.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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%.
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.
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.
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.
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.