Assocham, one of India’s top three industry associations, has predicted double digit GDP growth for India this year, citing encouraging response from its members. The association, which counts hundreds of manufacturing and service sector companies as its members, said the economy is fast returning to normal after the disruption seen in April and May due […]
Fitch Ratings, one of the top two credit rating agencies, said it expects the economic impact of the second wave of COVID-19 in India to be less severe than what was seen in the first wave last year. “We expect the shock to economic activity from the latest wave of the pandemic in India to […]
The central government has started giving out the details of its 20 lakh crore ($250 bln) stimulus-cum-rehabilitation package announced in the wake of the COVID-19 pandemic. Prime Minister Narendra Modi had announced the program yesterday, and said that Finance Minister Nirmala Sitharaman will announce the details in coming days. Sitharaman said she would announce plans […]
Major Indian stock market indices fell by 8-9% today in the biggest single-day fall since the global financial crisis of 2008. The Sensex fell 2,919 points (8.2%), while the Nifty 50 fell 868 points (8.3%) — by far the biggest single-day points correction in the history of these two indices. GOOD TIME TO INVEST? The […]
A survey by global image consultants Edelman has found that Indians are significantly more worried about losing their jobs than people in any other country, while those in Japan, Saudi Arabia, Netherlands and Germany are the least worried. The survey, which was conducted among 34,000 people in 28 countries, also found that Indian companies were […]
India Ratings, a unit of Fitch Group, has predicted that India’s GDP growth will not return to the 6% or 7% rate in the next financial year due to structural problems, but will show a slight improvement over the current year. The current year, which will end on March 31, is likely to see a […]
Subramanian Swamy is often accused of propagating outlandish ideas and suggestions, but at least on the issue of addressing a slowdown in India’s GDP growth, he seems to be closer to the truth than India’s ruling establishment. Both Sitharaman and Swamy are united in recognizing the need for a ‘stimulus’ to nudge the economy from […]
The core sector growth in India’s Index of Industrial Production was at 5.3% for February 2018, the government said today. In January, the growth was 6.1%. The highest growth was seen in refinery output (7.8%) and cement (22.9%), while crude oil and natural gas production went down. With this, the overall growth for the IIP […]
If you thought the fight over net neutrality was over with the sending of 1 mln emails to the TRAI two years ago, think again. The telecom service providers, who lost out that in the first round, are back. This time, however, their demands are more subtle, and focused on getting specific services exempted from […]
Indian IT companies are bound to see “some laying off” of their work force back home due to various negative forces impacting the industry, Assocham — an association of various industries — warned. “With the US tightening the norms for H-1B visas under the President Donald Trump’s ‘Buy American, Hire American’ campaign, the Indian IT […]
The country’s largest bank, State Bank of India, said today that it expects the growth in India’s gross domestic product to fall to 6.1% or lower in the current year from 7.9% last year due to the impact of demonetization. It said the projection by government of India’s Central Statistical Office for a GDP growth […]
The surge in populism and anti-establishment sentiment witnessed in the Brexit vote and Donald Trump’s victory in the US presidential election seem likely to push structural policies in the direction of economic nationalism, said Fitch Ratings in its latest global economic outlook (GEO). This will result in a reduction in trade openness and international labour […]
Despite a moderation in India’s GDP growth rate in the short term due to cash crunch, the Indian economy will still grow faster than that of China, global ratings agency Fitch said. “We still expect India’s GDP growth to trend higher than China’s in the medium term,” said the agency, whose primary job is to […]
US-based Morgan Stanley has given its thumbs up to Narendra Modi’s bold and unprecedented move to curb illegal funds by swapping currency notes. The government announced on late yesterday night that it will demonetise the high denomination currency — Rs. 500 and Rs. 1000 notes. A new series of the Rs 500 note and a […]
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product(GDP) for the first quarter (April-June) Q1, of 2016-17, both at constant (2011-12) and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP. GDP at constant (2011-12) prices in Q1 of 2016-17 […]
India’s industrial production index for core industries rose 3.2% in July compared to a year ago, indicating a slight improvement in economic activities. The eight core industries, that comprise nearly 38% of Index of Industrial Production (IIP), rose to 173.7 in July. Its cumulative growth during April to July, 2016-17 was 4.9 %. Coal Coal […]
Sentiment in the Indian private sector remains low, even as individual consumption is starting to pick up, Singapore-based DBS bank said. “Industrial lending slowed to 0.5% year on year in Apr-May in contrast to the personal loans that jumped 19.4%,” the bank said in a note to its clients. DBS said a combination of factors has […]
The results of latest round of FICCI’s Economic Outlook Survey puts across a median GDP growth forecast of 7.7% for the fiscal year 2016-17. The growth in 2016-17 is expected to be supported by an improvement in the agricultural and industrial sector performance. Prediction of a good monsoon after two consecutive years of sub-optimal rainfall […]
India is getting ready for a digital revolution by auctioning 700 MHz spectrum that has the potential to take high-speed Internet to every village in the country. However, telecom operators — who have to play the role of the enablers — are not popping open the bubbly quite yet. The reason for their misgivings is […]
Amid the slightly cautious atmosphere regarding a revival in Indian corporate earnings, Moody’s Investor Service has come out saying that it expects things to get better. It said most non-financial corporates it rates in India will benefit from strong domestic growth and accommodative monetary policy (lower interest rateas), although weak global growth and a potential […]
