Tag: Indian economy

India Inc’s revenue likely grew 18-20% on-year to Rs 8.2 trillion in 2nd quarter

NEW DELHI: Higher commodity prices and continued revival in demand for consumer discretionary products likely lifted corporate revenue 18-20 per cent on-year to Rs 8.2 lakh crore in the second quarter of this fiscal, indicates a CRISIL Research study of 300 companies (excluding from the financial services and oil sectors) that account for 55-60 per […]

Agriculture universities important for strengthening economy: Sharad Pawar

NEW DELHI: NCP president and former Union agriculture minister Sharad Pawar on Thursday said agricultural universities are essential for strengthening the country’s economy. He was speaking at a function to virtually inaugurate the D Y Patil Agriculture and Technical University located at Talsande in Maharashtra’s Kolhapur district. “If the agricultural growth and progress is evident, […]

GST will help in achieving the vision of five trillion dollar Indian economy by 2025

NEW DELHI: India’s Road Transport & Highways and MSME Minister Nitin Gadkari has said that GST will help achieve the vision of five trillion dollar Indian economy by 2025. Addressing a webinar on the “GST Day” on the theme “THE JOURNEY OF GST AND WAY FORWARD – AATMANIRBHAR BHARAT” organised by the Institute of Cost […]

Narendra Modi government open to more measures to boost economy

NEW DELHI: The Narendra Modi government is open to coming out with more measures to boost the economy which has been hit by the second wave of the coronavirus pandemic, says Chief Economic Advisor (CEA) K V Subramanian. He, however, added that the demand for a fresh stimulus package has to be considered against the […]

Indian economy heading towards V-shaped recovery in 2021: Assocham

NEW DELHI: India’s economy is showing decisive signs of a ‘V-shaped’ recovery in 2021 with the return of consumer confidence, robust financial markets, an uptick in manufacturing and exporters braving it out in the global market with never-say-die spirit, Assocham said on Sunday. The industry chamber said it expects immense accruals of economic benefits from […]

India ushering in rapid structural reforms to become USD 5 trillion economy by 2025: Piyush Goyal

NEW DELHI: India is strengthening the entire ecosystem to achieve Prime Minister Narendra Modi’s dream of becoming a USD 5 trillion economy by 2025 through rapid structural reforms, Union Minister Piyush Goyal said on Saturday. Addressing the Pravasi Bharatiya Diwas conference, the Commerce and Industry Minister said: “We are working simultaneously to bring about a […]

Moratorium period exceeding six months may result in vitiating overall credit discipline: RBI to Supreme Court

NEW DELHI: A loan moratorium exceeding six months might result in vitiating the overall credit discipline , which will have a debilitating impact on the process of credit creation in the economy, the Reserve Bank of India has told the Supreme Court. In an affidavit filed in the apex court in the loan moratorium case, […]

Covid-19 impacted economy may see gradual recovery: RBI Governor

NEW DELHI: The recovery of the Indian economy reeling from the impact of the Covid-19 pandemic will be gradual, RBI Governor Shaktikanta Das said on Wednesday. Addressing the FICCI National Executive Committee Meeting, the central bank chief said that the country is still reeling under the impact of Covid-19 and will gradually come back on […]

Indian economy to shrink 9 per cent in FY21: ADB

NEW DELHI: India’s coronavirus-battered economy will shrink by 9 per cent this fiscal, the Asian Development Bank (ADB) predicted on Tuesday saying growth outlook remains highly vulnerable to either a prolonged outbreak of the pandemic or a resurgence of cases. This will be the first time in four decades that the Indian economic growth will […]

Indian economy shrinks record 23.9% in Q1

NEW DELHI: India’s economy suffered its worst slump on record in April-June, with the gross domestic product (GDP) contracting by 23.9 per cent as the coronavirus-related lockdowns weighed on the already-declining consumer demand and investment. The GDP contraction in the world’s fifth-largest economy compared with 3.1 per cent growth in the preceding January-March quarter and […]

RBI Governor meets heads of rating agencies, seeks assessment of Indian economy

NEW DELHI: RBI Governor Shaktikanta Das on Thursday sought credit rating agencies’ assessment of the macroeconomic situation and their outlook on various industries, including the financial sector, the central bank said in a statement. The RBI Governor met managing directors and chief executives of credit rating agencies (CRAs) through video conferencing. The meeting was also […]

Indian economy will shrink 5% in FY21, stimulus not enough: S&P Ratings

NEW DELHI: S&P Global Ratings on Monday said Indian economy will shrink 5 per cent in the current fiscal, saying the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support. In a report on emerging markets titled ‘Financial Conditions Reflect Optimism, Lockdown Fatigue Emerges’, S&P said the […]

Indian economy to contract 5% in FY21: Fitch Ratings

NEW DELHI: Fitch Ratings on Tuesday forecast the Indian economy to contract 5 per cent in the current fiscal on account of slump in economic activities following a “very severe” lockdown that has lasted much longer than expected. In its Global Economic Outlook (GEO) for May, Fitch projected growth to rebound to 9.5 per cent […]

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