Page 15 - Economic Slowdown

This will be worst recession ever, farming may save the day: Devesh Kapur

The Director of Asia Programs at John Hopkins University sees Pharma as an area of strength too, and says India must aggressively develop APIs domestically, instead of sourcing from China

Covid-19: India GDP may contract by 2 per cent in FY21, says BoA Securities

The estimate has been arrived at with the assumption that the lockdown will extend till mid-July and a restart of the economy will get stretched to August

Statsguru: Economy was in grips of a slowdown even before Covid-19 hit

Manufacturing is weakening, as is the job-generating construction sector

Slowdown, then pandemic

GDP data shows virus hit an already weakened economy

After Fitch and CRISIL, S&P projects Indian economy to contract 5% in FY21

New cases have been averaging more than 6,000 a day over the past week as authorities begin easing stringent lockdown restrictions gradually to prevent economic costs from blowing out further

Govt to raise Rs 80,000 cr via cash mgt bills to meet liquidity mismatch

Issuance of CMB may mean liquidity available with govt won't be enough, especially after stimulus packages, and in the face of a falling revenue collection due to the nationwide slowdown

IDFC First Bank seniors to forgo 65% of bonus amid Covid-19 crisis

V Vaidyanathan, managing director and chief executive, will take 30 per cent cut in his compensation, including fixed compensation as well as all allowances.

Covid-19 lockdown: No proposal to impose calamity cess, say FinMin sources

The sources said any such proposal would prove to be counter-productive as sales are already at low volume at this time of lockdown.

Who will monitor the stimulus schemes?

There is a serious need for an independent mechanism to continuously monitor the performance of the programmes and their efficacy

JSW Steel Q4 consolidated PBT at Rs 953 crore, down 60% on weak demand

Net sales down 20%, impairment provision hurts bottomline further

'Polarised' and 'sell on rally' may define markets' character, say experts

With GDP growth seen shrinking, funds likely to chase stocks with high growth forecast

RBI buttresses earlier position forcefully; economic forecasts conservative

The central bank cut the repo rate by 40 bps to 4% and the reverse repo rate was brought down to 3.35%

RBI says India GDP will contract in FY21, cuts repo rate by 40 bps to 4%

RBI extends the moratorium on loan repayments by three more months

I've to be careful, am answerable to Parliament: FM Nirmala Sitharaman

Nirmala Sitharaman tells Indivjal Dhasmana & Nivedita Mookerji that the government has made sure that mistakes committed during 2008-2013 are not repeated while announcing the Rs 20-trillion package.

PSBs report sharp rise in deposits thanks to YES Bank, Franklin fiasco

Last financial year saw a series of banks failures starting with Punjab & Maharashtra Co-operative Bank and culminated in near collapse of YES Bank, India's 5th-largest private sector bank at its peak

Economic package won't fully offset negative impact of Covid-19: Moody's

While these measures will help ease asset risks for the financial sector, they will not fully offset the negative impact from the coronavirus outbreak, Moody's said

India GDP to fall 45 per cent in June quarter, predicts Goldman Sachs

Predicts a 5 per cent GDP contraction for India in FY21, says recently announced reforms not to have immediate impact on reviving growth

FM gives reforms pill for ailing economy with privatisation, policy tweaks

In the latest announcement, the government's focus was on structural reform in sectors such as coal, minerals, aviation, defence, aerospace, power, and social infrastructure

Fiscal stimulus by FM is mostly credit oriented, says Subhash Chandra Garg

He said that the fiscal stimulus, by its very nature, is additional fiscal burden on the public finances

Local is not just the need, it is our responsibility also: Narendra Modi

He said that it is now imperative for the country to move forward with the commitment of bold reforms to create a self-reliant India