Page 13 - Economic Recovery
Advance tax collection surges 146% despite Covid-19-led economic disruption
Net direct tax mop-up zooms 100% till June 15
 "Advance tax collection surges 146% despite Covid-19-led economic disruption")
US Fed holds rates at zero, projects two hikes by the end of 2023
"Progress on vaccinations has reduced the spread of Covid-19 in the United States," the Federal Open Market Committee said in a statement released Wednesday
 "US Fed holds rates at zero, projects two hikes by the end of 2023")
Market breadth turns sharply positive on hopes of revival in economy
Advance-decline ratio for May best 12 months; Momentum continues in June
 "Market breadth turns sharply positive on hopes of revival in economy")
Brent could touch $80 as economic recovery picks up: Emkay Wealth
The rise, however, could be capped if the dollar strengthens against major currencies
 "Brent could touch $80 as economic recovery picks up: Emkay Wealth")
European Commission raises 20 billion Euro for pandemic recovery
EU Commission President Ursula von der Leyen said the inaugural transaction of the NextGeneration EU program is the largest ever institutional bond issuance in Europe.
 "European Commission raises 20 billion Euro for pandemic recovery")
Rising inflation risk
Ignoring it for long could increase longer-term costs
 "Rising inflation risk")
EAM Jaishankar, FM Sitharaman to headline UK's India Global Forum
External Affairs Minister S Jaishankar and Finance Minister Nirmala Sitharaman were on Tuesday confirmed as the headline speakers at a global event that will lay out India's vision for post-pandemic growth. India Global Forum, organised from London as a hybrid event between June 29 and July 1, will bring together a range of worldwide experts, including World Health Organisation (WHO) Director-General Dr Tedros Adhanom Ghebreyesus, former New York Mayor Michael Bloomberg and former CIA Director General David H. Petraeus, to cover India's role in vaccine and medicine manufacturing as well as cooperation in crucial areas of climate change and an equitable global economic recovery. From India, other senior ministers set to address a host of sessions include Commerce & Industry Minister Piyush Goyal, Transport Minister Nitin Gadkari and Women & Textiles Minister Smriti Irani. This year's India Global Forum brings with it a sense of urgency and impatience about the radical actions ..
 "EAM Jaishankar, FM Sitharaman to headline UK's India Global Forum")
Early signs of recovery in rural India
Between March and May, consumer sentiments in rural India fell more than twice as much as in urban India
India's jobless rate slides 8.7% in signs economy is turning around
Rate for the week to June 13 fell to 8.7% from 13.6% a week ago, data from Centre for Monitoring Indian Economy showed.
 "India's jobless rate slides 8.7% in signs economy is turning around")
Recovery tracker: More signs of recovery as Covid-19 cases decline
There has also been an increase in traffic congestion, which is tracked by global location technology firm TomTom International
 "Recovery tracker: More signs of recovery as Covid-19 cases decline")
Broader market will be fairly directionless and sideways: Mark Matthews
The world stock market has doubled in value from its low in March last year, and we think it now reflects 90 per cent of the post-pandemic economic recovery.
 "Broader market will be fairly directionless and sideways: Mark Matthews")
G7 eyes allocating $100 bn from IMF funds to Covid-ravaged nations: US
The issue will be on the table when G7 leaders discuss how to help steer the world's recovery from the coronavirus pandemic at a three-day summit in Cornwall, England, which began on Friday
 "G7 eyes allocating $100 bn from IMF funds to Covid-ravaged nations: US")
Economy poised to shrug off second wave
Hard-hearted as it may sound, there is no correlation between the loss of lives and national output
 "Economy poised to shrug off second wave")
Phased unlock: Fiscal 2022 GDP growth projected at 8.5%, says ICRA
ICRA continues to expect a prolonged negative impact of the second wave on consumer sentiment and demand
 "Phased unlock: Fiscal 2022 GDP growth projected at 8.5%, says ICRA")
Top Headlines: Pfizer Covid vax's 'India price', Twitter India seeks a week
Business Standard brings top headlines on Thursday
 "Top Headlines: Pfizer Covid vax's 'India price', Twitter India seeks a week")
Faster vaccination, frontloading of fiscal steps key to recovery: FinMiN
Economic activities have slowed down amid the second wave of Covid-19 and lockdowns across states
 "Faster vaccination, frontloading of fiscal steps key to recovery: FinMiN")
Japan upgrades first-quarter GDP on smaller hit to domestic demand
The economy declined an annualised 3.9% in January-March, not as bad as the preliminary reading of an annualised 5.1% contraction
 "Japan upgrades first-quarter GDP on smaller hit to domestic demand")
Fed tapering and emerging markets
The year 2021 will be one of the strongest years for global growth in history
 "Fed tapering and emerging markets")
Small industries seek moratorium for another year amid Covid crisis
The industries have been under complete lockdown
 "Small industries seek moratorium for another year amid Covid crisis")
Confident all will revise GDP growth projection to 10-10.5 pc: NITI Aayog
The RBI has cut the GDP growth forecast from 10.5 per cent to 9.5 per cent for the financial year 2021-22.
