Page 14 - Economic Slowdown

Fitch revises India's sovereign rating outlook to negative from stable

Retains ratings at lowest investment grade

Emami takes hit in key portfolio, to focus on health, hygiene and wellness

Despite a good summer, which ideally would have boosted the company's revenues in the summer portfolio, Emami saw a decline in demand with the consumer preferring to spend on essentials instead

Work with states to tackle Covid-19 impact on economy: Punjab CM to PM Modi

PM Modi asked all other states to adopt the model, which was helping Punjab successfully control the spread of the pandemic to a significant extent

Sugar sector eyes relief package from Centre amid Covid-19 headwinds

The sugar industry has estimated consumption to fall by 0.5 million tonnes (MT) in the current season owing to the lockdown and the steep fall in institutional sales of sugar

PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme

On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector

Covid-hit states urge quick release Rs 20,000 cr IGST dues from Centre

They argue that while Centre recently released Rs 36,400 crore in pending IGST dues in lieu of compensation for December, Jan and Feb, more remained to be given to them

GDP contraction poses threat to MSMEs, govt support of little help: Report

The contraction may also lead to a 15% fall in corporate India's revenues

Statsguru: Why second wave of Covid-19 is a worry for equity markets

Investors have got a reality check with many countries once again seeing a rise in Covid-19 cases

Job losses in dealerships could be worse than 2019's auto slowdown: FADA

Between May and July last year, the automobiles dealerships across the country shed around 200,000 jobs to tide over the impact of an unprecedented sales slump

UK economy shrinks by record 20.4%; BoE warns of worst recession in 300 yrs

In a slump that dwarfed previous downturns in Britain's recent history, the Office for National Statistics also said the economy shrank by 24.5% compared with April last year

India to drive global gas demand post-slowdown, output to rise too: IEA

Consumption to increase by 28 bcm between 2019-25

GDP: The devil is in the revisions

Six iterations of annual data over a three-year period raise serious questions about the reliability of national income data as a basis for sound policymaking

Job market bleakest in 15 yrs, only 5% of India Inc plans to hire in Q2

According to the ManpowerGroup Employment Outlook Survey that covered 695 employers across India, the net employment outlook stood at 5 per cent for the July-September quarter

CPHS unemployment estimates are conservative

Headline numbers suggest an improvement in labour markets during 2018-19 compared to the situation in 2017-18

Monetising fiscal deficit via secondary OMOs right way: Uday Kotak

If we keep subsidising or protecting businesses that are not able to compete, we have an issue. I would expect the market to be able to sort things out, says Uday Kotak

Looking beyond crises

Lack of strategic vision in the NDA has caused it to fail at economic management

Unlock = open, not choked!

Don't let a virus stall initiatives and weaken the economy

MFIs see 50% recovery in June as rural borrowers avoid using moratorium

According to MFIs, the recoveries from rural areas in May were higher by 10-20 per cent compared to that in urban areas

Covid-19 crisis: PM Modi says growth will return, more reforms in the works

He said the pandemic might have applied the brakes on the speed of the economic growth, but the country had left behind the phase of lockdown and entered the first phase of unlocking.

Covid-19 can push 60 million into poverty, adopt comprehensive policies: WB

The scope and speed with which the Covid-19 pandemic and economic shutdowns have devastated the poor around the world are unprecedented in modern times, World Bank Group President David Malpass said