Page 6 - Latest Updates on Gross Domestic Product (GDP)
In search of the right prescription
Policy predictability and an unambiguous long-term blueprint are essential for private investors
 "In search of the right prescription")
Stimulus 2.0 won't change outlook for business
The second package focuses mostly on support to businesses, especially MSMEs
Why RBI shouldn't finance govt borrowings
In a crisis, it is imperative that a country borrows and spends more
Beyond borrowings
Govt must present a credible macroeconomic picture
 "Beyond borrowings")
India needs large fiscal stimulus in face of slowdown risk: Kaushik Basu
The Centre must give states the freedom to spend more, respecting India's federal structure, Basu said
 "India needs large fiscal stimulus in face of slowdown risk: Kaushik Basu")
Calls for debt monetisation gain traction as Covid-19 cripples economy
Coronavirus has snuffed out lives of more than 2,100 people and infected nearly 63,000 in India
 "Calls for debt monetisation gain traction as Covid-19 cripples economy")
India's credit profile to face further pressure due to Covid-19: Moody's
Moody's rating on the government of India is Baa2 with negative outlook
 "India's credit profile to face further pressure due to Covid-19: Moody's")
Moody's pegs FY21 GDP growth at 0%, says upgrade unlikely in near term
The rapid and widening spread of the Covid-19, deteriorating global economic outlook, falling oil prices, and financial market turmoil are creating a severe and extensive economic and financial shock
 "Moody's pegs FY21 GDP growth at 0%, says upgrade unlikely in near term")
Covid-19 economic impact to be much greater than assessed earlier
Large-scale contraction across sectors in April; which way the GDP will go depends largely on how long the lockdown stays
 "Covid-19 economic impact to be much greater than assessed earlier")
India coronavirus dispatch: Can RWAs really stop maids from coming to work?
From Mumbai migrant workers' struggle to get home, to rethinking school education, and why the coronavirus test costs Rs 4,500 in India - read these and more in today's dispatch
 "India coronavirus dispatch: Can RWAs really stop maids from coming to work?")
As banker it is my first job to be safe: IDFC First Bank CEO V Vaidyanathan
From now on, the system should open up systematically as people's financial cushions could vanish soon, he says
 "As banker it is my first job to be safe: IDFC First Bank CEO V Vaidyanathan")
Finance Ministry sees FY21 economic growth at 2-3% amid Covid-19 outbreak
The internal projections of 2-3% are based on the Finance Ministry's current assessment of the economic impact of the nationwide lockdown, which is in its sixth week
 "Finance Ministry sees FY21 economic growth at 2-3% amid Covid-19 outbreak")
India's rating could come under pressure if fiscal outlook worsens: Fitch
Fitch had in December 2019 reaffirmed India's 'BBB-' rating with a stable outlook
 "India's rating could come under pressure if fiscal outlook worsens: Fitch")
CRISIL pegs India's FY21 economic growth rate at 1.8% from 3.5%
Its parent Standard & Poor's has (S&P) forecast the world economy to contract 2.4 per cent, against its earlier estimates of 0.4 per cent growth.
In a sea of red ink
A lot of uncertainties remain on how, when, and at what total economic and social cost, this pandemic will be tamed
Lives vs livelihoods
The low virus-related mortality rates for India and other tropical countries do not support the case for stringent lockdowns, which would also destroy businesses and jobs
 "Lives vs livelihoods")
Coronavirus crisis: Lockdown batters India's already slowing economy
Some of the leading indicators only tell the magnitude of its impact
 "Coronavirus crisis: Lockdown batters India's already slowing economy")
Covid-19 impact: Fitch slashes India's GDP forecast to below 1% for FY21
Mexico, Brazil, Russia, South Africa and Turkey have all seen big GDP forecast adjustments
 "Covid-19 impact: Fitch slashes India's GDP forecast to below 1% for FY21")
The fiscal response challenge
In terms of policy response, governments and central banks are intervening aggressively in the advanced economies
Coping with the lockdown
Given the scale of demand contraction, we need a fiscal package of at least 3-4 per cent of GDP
 "Coping with the lockdown")