Page 8 - Latest Updates on Gross Domestic Product (GDP)
Investment pipeline in economy chokes as key indicators show deterioration
Gross fixed capital formation - an indicator of investment demand -as a percentage of GDP, fell to nearly two-decade low
 "Investment pipeline in economy chokes as key indicators show deterioration")
NCR, Mumbai stare at up to $1.7bn per week loss due to shutdown: Barclays
For NCR, Barclays has included Delhi and satellite towns of Noida, Gurugram and Ghaziabad
 "NCR, Mumbai stare at up to $1.7bn per week loss due to shutdown: Barclays")
Direct tax mop-up falls short by record Rs 1.45 trn of revised estimates
Official figures showed that the gross amount collected under direct taxes as of March 31 was Rs 12.11 trillion
 "Direct tax mop-up falls short by record Rs 1.45 trn of revised estimates")
Questions about borrowing
The funding need can change materially
 "Questions about borrowing")
India's fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions
Underpinning the revised forecast are weaker revenue collection as a result of a sharp virus-driven downturn in economic activity
 "India's fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions")
Now what?
Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy
 "Now what?")
The Morning After
Policy interventions will have to be intelligent: Striving to create deep, but temporary, safety nets during COVID-19 without generating imbalances and distortions thereafter
 "The Morning After")
Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%
Over the next few months, Moody's expects job losses across countries to accelerate
 "Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%")
Consumption sector will not be affected much by the 21-day lockdown
I believe the full-year impact on GDP will be around 150 basis points (bps)
 "Consumption sector will not be affected much by the 21-day lockdown")
The other casualty of Covid-19
COVID-19 will cause no less a disruption to the economy than the goods and services tax has done
 "The other casualty of Covid-19")
No trading seen in bonds in first 20 minutes of the market session
While working from home, bond traders are doing bare minimum trade to cover their positions; there is also the expectation of a 50-150-bp rate cut
 "No trading seen in bonds in first 20 minutes of the market session")
CII writes to PM Modi, seeks fiscal stimulus package of Rs 2 trillion
Suggests setting aside 1% of GDP for cash transfer scheme for poor and elderly
 "CII writes to PM Modi, seeks fiscal stimulus package of Rs 2 trillion")
Brokerages slash India Inc's FY21 earnings estimates amid coronavirus scare
Taking into account the current slow economic growth and changes in the prices of commodities, analysts at Nomura estimate 10% and 8% downside risk to FY21 and FY22 consensus' earning estimates
 "Brokerages slash India Inc's FY21 earnings estimates amid coronavirus scare")
Best of BS Opinion: Financial market stress, policy after COVID-19 and more
Here's a selection of Business Standard Opinion pieces for the day
 "Best of BS Opinion: Financial market stress, policy after COVID-19 and more")
India's current account deficit narrows to $1.4 bn in December quarter
The CAD is a critical indicator of the macroeconomic health and represents the gap between the overall foreign exchange expended and received in the economy.
 "India's current account deficit narrows to $1.4 bn in December quarter")
Risks, and some rewards, as India does business in the times of coronavirus
Will China's loss in meeting demand from the US and Europe help Indian businesses like leather, ceramics, and plastics? And if it does, will the gains be sustainable?
 "Risks, and some rewards, as India does business in the times of coronavirus")
US-China trade war, coronavirus have impacted global economy: Anurag Thkaur
He was asked about on Moody's forecast which has put India's GDP forecast at 5.3% in 2020.
 "US-China trade war, coronavirus have impacted global economy: Anurag Thkaur")
Chris Wood ups China stake amid coronavirus fear; trims India exposure
Wood believes the Narendra Mod government seems to be prioritising the social agenda over economic issues
 "Chris Wood ups China stake amid coronavirus fear; trims India exposure")
Slowdown forces Emami to delay new launches, male-grooming range hit badly
the underperformance of winter portfolio, decline in male grooming range lead to flat Q3 revenue growth
 "Slowdown forces Emami to delay new launches, male-grooming range hit badly")
PMI: India's services sector growth hits 7-year high of 57.5 in February
Exports zoom but job growth at 3-month low
 "PMI: India's services sector growth hits 7-year high of 57.5 in February")
