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Workers stitch garments at a factory of an apparel shop in Jaipur.(REUTERS)

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.
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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).
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

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%.
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The combined effect being that the economy got relegated to the sixth spot in 2020.(Ajay Aggarwal/HT PHOTO)
The combined effect being that the economy got relegated to the sixth spot in 2020.(Ajay Aggarwal/HT PHOTO)

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.
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An important driver of India’s economic recovery thus far has been the agricultural sector, which has been buoyed by a bountiful harvest.(AP representative image)
An important driver of India’s economic recovery thus far has been the agricultural sector, which has been buoyed by a bountiful harvest.(AP representative image)

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.
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CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai.(REUTERS)
CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai.(REUTERS)

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.
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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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Moody’s rates 21 Indian corporates across five key sectors: oil and gas, telecommunications, automobile manufacturers and suppliers, steel and mining.(Bloomberg)
Moody’s rates 21 Indian corporates across five key sectors: oil and gas, telecommunications, automobile manufacturers and suppliers, steel and mining.(Bloomberg)

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.
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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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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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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

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.
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An Indian villager wearing a face mask as a precaution against the coronavirus sells his ware at market in Jammu, India.(AP)
An Indian villager wearing a face mask as a precaution against the coronavirus sells his ware at market in Jammu, India.(AP)

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.
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Daily-wage laborers wearing masks as protection against the coronavirus wait to get work at a town square in Dharmsala.(AP)
Daily-wage laborers wearing masks as protection against the coronavirus wait to get work at a town square in Dharmsala.(AP)

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.
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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

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.
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In May, Crisil had estimated the economy to contract by 5 per cent.(Reuters)
In May, Crisil had estimated the economy to contract by 5 per cent.(Reuters)

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.
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The 14.8 per cent contraction in 2020-21 is among the most pessimistic one among all the analysts till now.(AFP)
The 14.8 per cent contraction in 2020-21 is among the most pessimistic one among all the analysts till now.(AFP)

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.
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Rajasthan Chief Minister Ashok Gehlot in his letter to Prime Minister Narendra Modi said states should not e expected to bear the burden of GST shortfall.(HT FILE PHOTO)
Rajasthan Chief Minister Ashok Gehlot in his letter to Prime Minister Narendra Modi said states should not e expected to bear the burden of GST shortfall.(HT FILE PHOTO)

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.
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Laborers carry sacks of food grains at a market area in Kolkata, India. India’s economy has suffered its worst slump on record in April-June quarter of 2020-21.(AP)
Laborers carry sacks of food grains at a market area in Kolkata, India. India’s economy has suffered its worst slump on record in April-June quarter of 2020-21.(AP)

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.
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Our health infrastructure, at least in most places, has been found to be wanting in dealing with the pandemic’s public health challenge.(Satish Bate/HT Photo)
Our health infrastructure, at least in most places, has been found to be wanting in dealing with the pandemic’s public health challenge.(Satish Bate/HT Photo)

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.
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Out of the 32 manufacturing sub-sectors, only pharmaceuticals (34.6%) and tobacco (4.5%) recorded growth.
Out of the 32 manufacturing sub-sectors, only pharmaceuticals (34.6%) and tobacco (4.5%) recorded growth.

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.
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A woman looks at her mobile phone, Beijing, 2020. China’s digital surge has not only reinvented the economy, but has also bolstered the nation’s growth rate.(AFP)
A woman looks at her mobile phone, Beijing, 2020. China’s digital surge has not only reinvented the economy, but has also bolstered the nation’s growth rate.(AFP)

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
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The Bombay Stock Exchange building in Mumbai.(PTI)
The Bombay Stock Exchange building in Mumbai.(PTI)

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.
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Even though most sectors show an upswing in activities, agriculture remains the foundation of this economic growth. (AP file photo)
Even though most sectors show an upswing in activities, agriculture remains the foundation of this economic growth. (AP file photo)

‘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.
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To be sure, the Covid-19 pandemic did disrupt economic activity towards the end of the last quarter of 2019-20.(Pratham Gokhale/HT Photo)
To be sure, the Covid-19 pandemic did disrupt economic activity towards the end of the last quarter of 2019-20.(Pratham Gokhale/HT Photo)

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.
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Former finance minister and Rajya Sabha MP P Chidambaram at the Parliament House during the Budget Session, in New Delhi in March 2020.(Sonu Mehta/HT PHOTO)
Former finance minister and Rajya Sabha MP P Chidambaram at the Parliament House during the Budget Session, in New Delhi in March 2020.(Sonu Mehta/HT PHOTO)

‘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.
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The GDP had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday. (HT photo)
The GDP had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday. (HT photo)

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
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On 29 May, the National Statistical Office (NSO) will release GDP data for the quarter ending March 2020. Normally, this data would not have attracted much interest.
On 29 May, the National Statistical Office (NSO) will release GDP data for the quarter ending March 2020. Normally, this data would not have attracted much interest.

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.
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Just about a month ago, the International Monetary Fund had projected India’s GDP growth in the year to be 1.9%.(Bloomberg file photo. Representative image)
Just about a month ago, the International Monetary Fund had projected India’s GDP growth in the year to be 1.9%.(Bloomberg file photo. Representative image)

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.
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A man buys bottles of liquor outside a wine store during a nationwide lockdown to curb the spread of new coronavirus in Jammu.(AP File Photo)
A man buys bottles of liquor outside a wine store during a nationwide lockdown to curb the spread of new coronavirus in Jammu.(AP File Photo)

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.
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Union Defence Minister Rajnath Singh urged the MSMEs to work for placing India among the top 10 nations in defence technologies.(ANI)
Union Defence Minister Rajnath Singh urged the MSMEs to work for placing India among the top 10 nations in defence technologies.(ANI)

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.
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Workers polishing diamonds at Samarth Diamond's factory in Gujarat, India.(via REUTERS)
Workers polishing diamonds at Samarth Diamond's factory in Gujarat, India.(via REUTERS)

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.
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