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India’s economy, third largest in Asia, is projected to contract by up to 5% this financial year(Reuters)

India posts first trade surplus in 18 years as coronavirus hits imports

New Delhi, Delhi | By Reuters | Posted by Shivani Kumar
UPDATED ON JUL 15, 2020 09:22 PM IST
Indian exports and imports have been falling since March and worsening India-China relations, shrinking global demand and disruptions in supply chains are likely to pressure the trade outlook over the next few quarters, analysts said.
In May update to the oulook, Fitch had projected Indian economy’s growth at 9.5% in 2021-22. S&P has forecast a 5% contraction in the fiscal year starting April, and the growth to recover to 8.5 % next fiscal.(REUTERS File)
In May update to the oulook, Fitch had projected Indian economy’s growth at 9.5% in 2021-22. S&P has forecast a 5% contraction in the fiscal year starting April, and the growth to recover to 8.5 % next fiscal.(REUTERS File)

Fitch cuts India growth forecast to 8% for FY22; economy to shrink by 5% this fiscal

New Delhi | By Press Trust of India | Posted by Anubha Rohatgi
PUBLISHED ON JUN 30, 2020 06:47 PM IST
In its June update of Global Economic Outlook, Fitch projected Indian economy to grow 5.5 per cent in 2022-23.
ow-cost funds will be provided to local power equipment makers to spur competition.(HT Photo)
ow-cost funds will be provided to local power equipment makers to spur competition.(HT Photo)

Govt may cut funds for Chinese tech

Livemint | By Utpal Bhaskar
PUBLISHED ON JUN 29, 2020 02:17 AM IST
State-run Power Finance Corp. Ltd (PFC), Rural Electrification Corp. Ltd (REC) and Indian Renewable Energy Development Agency (IREDA) are the largest lenders to the Indian power sector and the move is expected to deter states from involving Chinese firms, which are usually the cheapest suppliers.
Stay-at-home measures triggered by the coronavirus pandemic has kept most of India’s 1.3 billion population indoors since late March, leading to a collapse in business activities.(AP)
Stay-at-home measures triggered by the coronavirus pandemic has kept most of India’s 1.3 billion population indoors since late March, leading to a collapse in business activities.(AP)

India’s earnings scorecard shows worst profit slump since 2014

By Bloomberg | Posted by: Shivani Kumar
UPDATED ON JUN 04, 2020 10:40 AM IST
Communications, energy and industrials recorded the steepest declines on an adjusted basis.
Getting growth back is not so difficult, PM Modi said, as Indian industries have a clear path—the road to self-reliant India.(PTI)
Getting growth back is not so difficult, PM Modi said, as Indian industries have a clear path—the road to self-reliant India.(PTI)

World is looking for trusted, reliable partner, India must be ready: PM Modi

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
UPDATED ON JUN 02, 2020 12:40 PM IST
PM Modi made the comments while delivering the inaugural address at the Confederation of Indian Industry’s (CII) annual session 2020, Getting Growth Back.
Some of the most industrialized states such as Maharashtra and Gujarat were trailing because of tough measures still in place to contain the Covid-19 pandemic.(AP)
Some of the most industrialized states such as Maharashtra and Gujarat were trailing because of tough measures still in place to contain the Covid-19 pandemic.(AP)

Five Indian states are leading economy to recovery from lockdown

By Bloomberg | Posted by: Shivani Kumar
UPDATED ON JUN 02, 2020 10:08 AM IST
Few states have seen a pickup in activity, based on an analysis of indicators such as power consumption, traffic movement, arrival of farm products at wholesale markets.
‘Baa3’ is the lowest investment grade - just a notch above junk status.(Getty Images/iStockphoto)
‘Baa3’ is the lowest investment grade - just a notch above junk status.(Getty Images/iStockphoto)

Moody’s downgrades India’s sovereign rating, maintains negative outlook

New Delhi | By Press Trust of India
UPDATED ON JUN 01, 2020 08:06 PM IST
The negative outlook reflects dominant, mutually-reinforcing, downside risks from deeper stresses in the economy and financial system that could lead to a more severe and prolonged erosion in fiscal strength than Moody’s currently projects, Moody’s said.
At the interbank foreign exchange market, the rupee opened at 75.51, and stayed in a range of 75.45 - 75.59.(Reuters)
At the interbank foreign exchange market, the rupee opened at 75.51, and stayed in a range of 75.45 - 75.59.(Reuters)

Rupee slips 2 paise to 75.58 against US dollar

Mumbai, Maharashtra | By Press Trust of India | Posted by Shivani Kumar
UPDATED ON MAY 15, 2020 06:12 PM IST
The local unit finally finished at 75.58, down 2 paise over its previous close.
Union finance minister Nirmala Sitharaman announced an economic package on Wednesday(ANI Photo)
Union finance minister Nirmala Sitharaman announced an economic package on Wednesday(ANI Photo)

Nirmala Sitharaman Press Conference: Rs 9250 crore relief for provident fund contributors

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Abhinav Sahay
UPDATED ON MAY 13, 2020 05:28 PM IST
Finance minister Nirmala Sitharaman has announced several economic measures to mitigate the negative impact of coronavirus on India’s economy.
More measures will be announced over the course of the next few days.(Screen grab)
More measures will be announced over the course of the next few days.(Screen grab)

India offers $40 billion loans to small business to boost growth amid Covid pandemic

New Delhi | By Bloomberg
PUBLISHED ON MAY 13, 2020 05:05 PM IST
These measures will help in building a ‘very self-reliant India’, Nirmala Sitharaman said in the briefing.
Crisil has forecast 1.8% growth for FY21 and expects FY20 growth to be below the official estimate of 5% made in February.(Bloomberg)
Crisil has forecast 1.8% growth for FY21 and expects FY20 growth to be below the official estimate of 5% made in February.(Bloomberg)

Covid-19: All eyes on stimulus package

Hindustan Times, New Delhi | By Gireesh Chandra Prasad and Asit Ranjan Mishra
PUBLISHED ON APR 23, 2020 03:49 AM IST
On the public expenditure front, the council will discuss ways to shore up the economy, with state governments pitching for a host of measures, including greater flexibility to borrow and spend, to help tide over the crisis.
Reserve Bank of India (RBI) Governor Shaktikanta Das.(PTI file photo)
Reserve Bank of India (RBI) Governor Shaktikanta Das.(PTI file photo)

RBI lends a helping hand, Wuhan revises death toll: Top Covid-19 news today

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON APR 18, 2020 07:33 AM IST
Here is a preview of the top Covid-19 news today from India and the world.
To contain the outbreak, the government imposed a ‘lockdown’ with restrictions on mobility of goods and people.(Yogendra Kumar/HT PHOTO)
To contain the outbreak, the government imposed a ‘lockdown’ with restrictions on mobility of goods and people.(Yogendra Kumar/HT PHOTO)

Covid-19 causes severe disruption to Indian economy, says World Bank

Washington | By Press Trust of India
UPDATED ON APR 12, 2020 01:30 PM IST
The Covid-19 outbreak came at a time when India’s economy was already slowing, due to persistent financial sector weaknesses, a World Bank report said.
Reflecting the pessumism, Indian stock markets continued their downward march on Monday, dumping stocks and conserving cash, with the Sensex plunging 4.61% and Nifty shedding 4.38% .(Bloomberg)
Reflecting the pessumism, Indian stock markets continued their downward march on Monday, dumping stocks and conserving cash, with the Sensex plunging 4.61% and Nifty shedding 4.38% .(Bloomberg)

Covid-19: India’s FY21 outlook bleak, economy to enter slow lane

Livemint, New Delhi / Mumbai | By Asit Ranjan Mishra
UPDATED ON MAR 31, 2020 10:11 AM IST
ECONOMIC STRESS: Most analysts see severe contraction in June quarter output
A deserted Patna Junction during the nationwide lockdown over the coronavirus (COVID-19) pandemic, Friday, March 27,2020.(AP Dube / HT Photo)
A deserted Patna Junction during the nationwide lockdown over the coronavirus (COVID-19) pandemic, Friday, March 27,2020.(AP Dube / HT Photo)

Recovery could be distant as economy shrivels due to Covid-19

Hindustan Times, New Delhi | By Zia Haq
UPDATED ON MAR 28, 2020 04:24 PM IST
The Covid-19 pandemic threatens to push the global economy into recession and prolong the slowdown in India.
India’s economic growth hit a more than six-year low of 4.7% in the December quarter (Photo: Aniruddha Chowdhury/Mint)
India’s economic growth hit a more than six-year low of 4.7% in the December quarter (Photo: Aniruddha Chowdhury/Mint)

India’s growth could be the next casualty of the coronavirus outbreak

Livemint | By Asit Ranjan Mishra
UPDATED ON MAR 03, 2020 01:40 PM IST
OECD slashed India’s growth forecast for 2020-21 by 110 basis points to 5.1% due to the impact of the virus.'An upturn will require a positive impact from reforms and monetary policy support in India,' said OECD in its interim economic assessment
The markets are on track for their worst week in four year.(ANI File Photo)
The markets are on track for their worst week in four year.(ANI File Photo)

Sensex tanks 1500 points, Rs 5.5 lakh crore investor wealth gone in minutes

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 28, 2020 03:33 PM IST
Both indexes have shed over six per cent so far this week, on track for their worst week since February 12, 2016, reported news agency Reuters.
Manmohan Singh at the release of Montek Singh Ahluwalia’s latest book ‘Backstage’(HT Photo by Sanjeev Verma)
Manmohan Singh at the release of Montek Singh Ahluwalia’s latest book ‘Backstage’(HT Photo by Sanjeev Verma)

Manmohan Singh says government is in denial over economic slowdown

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 19, 2020 10:47 PM IST
Singh, also a noted economist widely credited with ushering in broad economic reforms as the finance minister in Narsimha Rao government in the 1990s, was addressing a gathering at the launch of Montek Singh Ahluwalia’s book, ‘Backstage’.
According to the World Population Review report, India’s real GDP growth, however, is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.(AP File)
According to the World Population Review report, India’s real GDP growth, however, is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.(AP File)

India became 5th largest economy in 2019 overtaking UK, France: Report

New Delhi | By Press Trust of India
UPDATED ON FEB 17, 2020 10:40 PM IST
The report observed that India’s economic liberalisation began in the early 1990s and included industrial deregulation, reduced control on foreign trade and investment, and privatisation of state-owned enterprises.
Precautionary posters at the Beleghata ID and BG Hospital where people have been wearing masks for safety from coronavirus in Kolkata, West Bengal.(Samir Jana/HT Photo)
Precautionary posters at the Beleghata ID and BG Hospital where people have been wearing masks for safety from coronavirus in Kolkata, West Bengal.(Samir Jana/HT Photo)

Chinese factories shut by coronavirus, 13.7% of India’s imports at risk

Hindustan Times, New Delhi | By Vineet Sachdev
UPDATED ON FEB 15, 2020 05:55 AM IST
China has been India’s largest source of imports since 2004-05, shows data from the Centre for Monitoring Indian Economy (CMIE) database.
Labourers carrying vegetables to a wholesale market in Kolkata. The IMF in January lowered India’s economic growth estimate for the current fiscal to 4.8%.(AP File Photo)
Labourers carrying vegetables to a wholesale market in Kolkata. The IMF in January lowered India’s economic growth estimate for the current fiscal to 4.8%.(AP File Photo)

Indian economic environment weaker than forecast, urgent reforms needed: IMF

Washington | By Press Trust of India
UPDATED ON FEB 14, 2020 06:38 AM IST
Responding to a question on the budget presented by Union Finance Minister Nirmala Sitharaman, International Monetary Fund (IMF) spokesperson Gerry Rice said the economic environment in India is weaker than what the organisation had forecast earlier.
Union Finance Minister Nirmala Sitharaman speaks at Rajya Sabha during the Budget Session of Parliament, in New Delhi on Tuesday (Photo: ANI)
Union Finance Minister Nirmala Sitharaman speaks at Rajya Sabha during the Budget Session of Parliament, in New Delhi on Tuesday (Photo: ANI)

From PMI to Sensex, FM says seven signs show ‘green shoots’

Livemint | By Gireesh Chandra Prasad, Asit Ranjan Mishra, New Delhi:
UPDATED ON FEB 12, 2020 10:06 AM IST
Sitharaman said the GST collections pointed to increased economic activity.Speaking in the Rajya Sabha, Sitharaman hit back at former minister P. Chidambaram for his remark that 'incompetent doctors are attending to economy'
Senior Congress leader P Chidambaram cautions IMF and its chief economist Gita Gopinath.(Samir Jana / Hindustan Times)
Senior Congress leader P Chidambaram cautions IMF and its chief economist Gita Gopinath.(Samir Jana / Hindustan Times)

‘Prepare for attack’: Chidambaram warns after IMF, Gita Gopinath give India growth numbers

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON AUG 29, 2020 12:09 PM IST
The senior Congress leader pointed out to Gita Gopinath’s previous lowdown of the Centre’s demonetisation move as he launched his latest critique of the government.
IMF chief economist Gita Gopinath said growth in India slowed sharply owing to stress in the non-banking financial sector and weak rural income growth.(Bloomberg/file)
IMF chief economist Gita Gopinath said growth in India slowed sharply owing to stress in the non-banking financial sector and weak rural income growth.(Bloomberg/file)

India’s growth slowdown is a drag on the world, says IMF chief economist Gita Gopinath

Hindustan Times, New Delhi | By Asit Ranjan Mishra
UPDATED ON JAN 21, 2020 06:43 AM IST
IMF chief economist Gita Gopinath said growth in India slowed sharply “owing to stress in the non-bank financial sector and weak rural income growth”.
Union finance minister Nirmala Sitharaman says the government wants to work with the industry to achieve the $5 Trillion economy target.(Sanjeev Verma/HT PHOTO)
Union finance minister Nirmala Sitharaman says the government wants to work with the industry to achieve the $5 Trillion economy target.(Sanjeev Verma/HT PHOTO)

Government against laws treating businesses with suspicion: Nirmala Sitharaman

Hindustan Times, Chennai | By MC Rajan
UPDATED ON JAN 20, 2020 01:49 AM IST
Sitharaman made it clear that the government was working towards creating an environment where the government and the industry could work together to attain the $5 trillion economy target.
India’s macro economic fundamentals are strong as ever and recovery in growth is expected in the next fiscal, said the head of UN Economic and Social Commission for Asia and the Pacific.(REUTERS)
India’s macro economic fundamentals are strong as ever and recovery in growth is expected in the next fiscal, said the head of UN Economic and Social Commission for Asia and the Pacific.(REUTERS)

India needs continued structural reforms to boost growth: UN report

New Delhi | By Press Trust of India
UPDATED ON JAN 17, 2020 03:47 PM IST
The UN report expressed the hope that combination of fiscal stimulus and financial sector reforms will help boost consumption.
The Opposition unity already suffered a big blow as West Bengal Chief Minister Mamata Banerjee has opted out of the meeting. The AAP and BSP too have refused to participate in the meeting.(Arvind Yadav/HT file photo)
The Opposition unity already suffered a big blow as West Bengal Chief Minister Mamata Banerjee has opted out of the meeting. The AAP and BSP too have refused to participate in the meeting.(Arvind Yadav/HT file photo)

Opposition meets today over CAA, NPR, economy: All you need to know

Hindustan Times, New Delhi | By Saubhadra Chatterji
UPDATED ON JAN 13, 2020 11:40 AM IST
All Opposition parties had been active in opposing the CAA and NRC. But this is the first time that they are meeting in a bid to formulate a joint strategy.
The worst of the country’s economic slowdown has passed and the authorities are unlikely to use currency depreciation as a measure to revive growth, said Hugo Erken of Rabobank(REUTERS)
The worst of the country’s economic slowdown has passed and the authorities are unlikely to use currency depreciation as a measure to revive growth, said Hugo Erken of Rabobank(REUTERS)

Rupee likely to beat most Asian currencies in 2020, says top forecaster

By Bloomberg
UPDATED ON JAN 10, 2020 10:13 AM IST
According to Hugo Erken of Raobank, the rupee could weaken less than 1% over the next 12 months, while Indonesia’s rupiah may fall 7%, Thai baht 11% and the Malaysian ringgit 9%.
Economic activity in India slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, according to the World Bank.(REUTERS / Representational Photo)
Economic activity in India slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, according to the World Bank.(REUTERS / Representational Photo)

India’s growth projected to ‘decelerate’ to 5% in 2019-2020: World Bank

Washington | By Press Trust of India
UPDATED ON JAN 09, 2020 10:12 AM IST
In the report’s India section, the World Bank said tighter credit conditions in the non-banking sector are contributing to a substantial weakening of the domestic demand in the country.
Prime Minister Narendra Modi poses for a group photo with Reliance Industries chairman Mukesh Ambani, Tata Group patriarch Ratan Tata, Business tycoon Anand Mahindra and others during an interaction with leading business leaders, in New Delhi, Jan. 6, 2020.(PTI)
Prime Minister Narendra Modi poses for a group photo with Reliance Industries chairman Mukesh Ambani, Tata Group patriarch Ratan Tata, Business tycoon Anand Mahindra and others during an interaction with leading business leaders, in New Delhi, Jan. 6, 2020.(PTI)

‘Go ahead with new energy’: PM Modi tells India Inc to invest boldly despite slowdown

Livemint, New Delhi | By Shreya Nandi
UPDATED ON JAN 07, 2020 06:34 AM IST
The prime minister’s comments assume significance amid a deep downturn in the economy, led by sluggish consumption, and subdued private investment in the country.
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