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Indian economy to rebound with 8.9% growth in FY22: Report
By Press Trust of India | Posted by Shankhyaneel Sarkar | New Delhi
PUBLISHED ON JAN 08, 2021 06:25 PM IST
The National Statistical Organisation (NSO) on Thursday predicted that the economy will contract 7.7 per cent in the current financial year ending in March, the worst performance in four decades.
GDP projected to shrink 7.7% this fiscal: Advanced estimate
By Roshan Kishore and Rajeev Jayaswal | Hindustan Times, New Delhi, 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%.
Budget to set course for economic pick up after Covid carnage
By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON JAN 01, 2021 07:45 PM IST
An appropriate understanding based on reliable data is critical to ensure effective policy intervention, it said, adding a low base in current fiscal will make even a moderate improvement in the first couple of quarters of next financial year as decent year-on-year growth.
India to become 5th largest economy in 2025, 3rd largest by 2030
By Press Trust of India | Posted by Deepali Sharma | New Delhi
UPDATED ON DEC 26, 2020 01:23 PM IST
India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020.
RBI bulletin: Q3 growth to turn positive, says article
By Press Trust of India | Mumbai
PUBLISHED ON DEC 25, 2020 03:41 AM IST
Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9% in the first quarter of the current financial year. The contraction narrowed down to 7.5% in the second quarter.
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.
Conditions will improve for Indian corporates next year as economic activity gathers pace: Moody’s
By Press Trust of India | Posted by Deepali Sharma | New Delhi
PUBLISHED ON DEC 02, 2020 05:23 PM IST
It said the low interest rate environment and widespread credit availability will allow corporates with strong balance sheets to refinance and grow.
Economy shrinks 7.5% as country enters recession
By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON NOV 28, 2020 06:58 AM IST
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.
India’s growth this year will be negative or near zero, says finance minister Nirmala Sitharaman
By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
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.
RBI projects 9.5 per cent GDP fall, sees revival promise in Q4
By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON OCT 10, 2020 05:50 AM IST
While the second quarter’s GDP numbers will only be released in November, high frequency economic indicators have been pointing towards a sequential recovery in the economy.
India’s economy to experience record contraction in 2020-21: S&P
By Press Trust of India | Posted by Shankhyaneel Sarkar | New Delhi
UPDATED ON SEP 25, 2020 09:46 PM IST
India’s weak fiscal settings will worsen further this year, constraining the government’s ability to aid the economy.
Nominal GDP to grow at 19%in FY22: Govt
By Gireesh Chandra Prasad and Asit Ranjan Mishra | Hindustan Times, New Delhi, 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.
Crisil projects 9% GDP contraction in FY21, says govt not providing adequate direct fiscal support
By Press Trust of India | Posted by Prashasti Singh | Mumbai
UPDATED ON SEP 10, 2020 10:22 PM IST
The projection comes days after official data for the June quarter showed a contraction of 23.9 per cent in the economy.
Indian economy worst hit, FY21 GDP to contract 14.8%: Goldman Sachs
By Press Trust of India| Posted by Susmita Pakrasi | Mumbai
PUBLISHED ON SEP 08, 2020 06:14 PM IST
It had earlier estimated that the economy of the country, which is now home to the second-largest number of Covid-19 infections, to contract by 11.8 per cent.
GST compensation to states a legal obligation, Ashok Gehlot tells PM Modi
By HT Correspondent | Hindustan Times, Jaipur
UPDATED ON SEP 08, 2020 07:51 AM IST
Ashok Gehlot said under the GST (Compensation to States) Act, 2017, states are guaranteed compensation for loss of revenue on account of implementation of GST for a transition period of five years, starting from 2017.
Small positive growth may not be ruled out in FY21, says ex-RBI governor Rangarajan
By Press Trust of India | Posted by Arpan Rai | New Delhi
UPDATED ON SEP 06, 2020 04:29 PM IST
Rangarajan and India EY India chief policy advisor D K Srivastava in a paper titled ‘India’s Growth Prospects and Policy Options: Emerging from the Pandemic’s Shadow’ stated that the story of the Indian economy as it unfolds under the impact of Covid-19 is disquieting.
Restoring growth to boosting health infra: Charting India’s goals
By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON AUG 19, 2020 12:24 PM IST
The unforeseen events in the run-up to completion of 73 years of independence today give a good reason to revisit the goals we want to achieve by August 15, 2022.
Factory output shrinks sharply in June to 16.6%
By Asit Ranjan Mishra | Hindustan Times, New Delhi, New Delhi
UPDATED ON AUG 12, 2020 04:44 AM IST
Data released by the National Statistical Office on Tuesday showed the Index of Industrial Production (IIP) contracted 16.6% in June against a 34% contraction in May.
The differing digital journeys of India, China
By Mahesh Sachdev
UPDATED ON JUL 20, 2020 10:31 PM IST
There is resistance against Chinese dominance. India needs to fix its domestic landscape to take advantage
Why the June quarter numbers are important
By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON JUN 30, 2020 01:55 AM IST
Purchasing Managers’ Indices (PMI) for the month of June will be released this week. PMI numbers for April and May show a huge contraction in economic activity.
‘Green shoots of economic revival seen across sectors’: Finance ministry
By Rajeev Jayaswal | Edited by Ashutosh Tripathi | Hindustan Times, New Delhi
UPDATED ON JUN 23, 2020 05:45 PM IST
The finance ministry said positive signs were visible across sectors like agricultural procurement, fertiliser sales, energy consumption, freight movement, digital transactions and forex earnings.
Addressing pre-Covid issues to be crucial for India’s recovery
By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON DEC 28, 2020 10:26 PM IST
Any modern economy is a giant market. Everybody is a buyer or a seller. Workers sell their labour, businesses their products and services. Essential and non-essential spending decisions feed into each other. And everything is linked.
‘Remember, this is pre-lockdown’: Chidambaram warns on India’s 11-year low GDP slump
By hindustantimes.com | Edited by Arpan Rai | Hindustan Times, New Delhi
UPDATED ON MAY 29, 2020 07:15 PM IST
“Remember, this is pre-lockdown. Of the 91 days of Q4, lockdown applied to only to 7 days,” Chidambaram said in a tweet on the government released data for country’s GDP.
At 4.2%, GDP growth in 2019-20 hits 11-year low
By HT Correspondent | Edited by Ashutosh Tripathi | Hindustan Times, New Delhi
UPDATED ON MAY 29, 2020 06:47 PM IST
The economic growth slipped to 3.1 per cent in the January-March quarter of 2019-20 showing impact of the coronavirus
Why Q4 GDP numbers will be crucial
By Roshan Kishore and Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON MAY 29, 2020 08:17 AM IST
NSO has already released the second advance estimates of GDP for 2019-20 in February. Real and nominal GDP growth in 2019-20 was projected to be 5% and 7.5% respectively.
What does a GDP contraction in FY 2020-21 entail for India?
By Roshan Kishore | Hindustan Times, New Delhi
UPDATED ON MAY 28, 2020 02:51 PM IST
Statistically speaking, it means that the 2020-21 GDP will be less than what it was in 2019-20. This does not tell us much about its real-life implications which depend on the sector-wise and distributive impact of the contraction.
Odisha to allow home delivery of liquor, will charge 50% special ‘Covid-19 fee’
By Debabrata Mohanty | Hindustan Times, Bhubaneswar
UPDATED ON MAY 23, 2020 10:54 PM IST
The outlets can levy delivery charges of Rs 100 for orders up to Rs 1,000 and thereafter Rs 25 for every additional Rs 500 order value. In no case, the delivery charge will exceed Rs 300.
Rajnath Singh exhorts MSMEs to make India ‘Atma Nirbhar’ in defence tech, products
By Press Trust of India | New Delhi
PUBLISHED ON MAY 21, 2020 08:14 PM IST
Asserting that keeping MSMEs strong is one of the priorities of the government, Rajnath Singh said there are more than 8,000 MSMEs, tiered partners of many defence organisations - ordnance factories, DPSUs and service organisations.
Factory output fell by record 16.7% in March
By Asit Ranjan Mishra | Livemint, New Delhi
PUBLISHED ON MAY 13, 2020 06:16 AM IST
The lockdown, which came into effect on March 25, also impacted data collection for both the index of industrial production and consumer price index (CPI); so much so that the National Statistical Office did not release the retail inflation number for April.