Page 24 - India Gdp Growth

Nomura predicts Indian GDP to contract by 5.2% in FY21, more rate cuts

Analysts at Goldman Sachs expect the Indian economy to contract 0.4 per cent in FY21 versus consensus median 2.7 per cent

Experts fear massive 40% fall in April GDP, call for unlocking of economy

"There are some signals... the global markets are fearing that India is going to slide into a controlled economy which is very damaging," said former Chief Economic Advisor Kaushik Basu

India's economic growth rate may contract 16-20% in Q1, says Icra

This would mean a contraction of 1-2 per cent for entire FY21, against the agency's earlier projection of -1 per cent to 1 per cent

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

Refunds save the day for April direct tax collection; mop-up down 5%

Gross direct tax collection stood at Rs 41,556 crore in April, as against Rs 43,950 crore in the corresponding period last year

RBI governor Shaktikanta Das to hold meeting with bank chiefs today

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry

Fitch downgrades viability rating for four banks on Covid-19 impact

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

Rs 65,000 cr package needed for poor, target is doable: Raghuram Rajan

Former RBI Governor responds to Rahul Gandhi's question, says GDP is Rs 200 trillion, and out of that 65,000 crore is not a huge amount

Explained in numbers: Covid-19 lockdown impact on states' GST revenues

All the states may see around Rs 5,000 crore of GST collections in 2020-21

India's GDP growth may dip below 1% in 'slowdown turbulence', says CII

The Confederation of Indian Industry (CII) in a paper - A plan for economic recovery - has laid out its growth expectation under three os and suggested "urgent" fiscal interventions

Lockdown 2.0: Our targets for project award won't decline, says Gadkari

In an interview to Megha Manchanda, Union Road Transport and Highways Minister Nitin Gadkari says he is optimistic about the sector meeting its project execution target in a time-bound manner

Centre seeks India Inc's view on economic revival amid Covid-19 outbreak

Key demands and suggestions include improving liquidity, cutting customs duties and goods and services tax (GST) rates, expediting all refunds and a halt on tax scrutiny

India could use 3-5% of GDP stabilising economy: World Bank economists

The lockdown of economies around the world causes a much sharper decline in economic activity than in normal recessions, says World Bank chief economist south Asia region, Hans Timmer

Covid-19 impact: S&P slashes India's FY21 growth forecast to 1.8%

S&P expects India's growth to bounce back in FY22

Coronavirus outbreak: Why cities may not remain the same after lockdown

Tens of thousands of workers who returned to villages are now similarly weighing whether to return at the end of the lockdown, which Modi this week extended to May 3.

Covid-19 impact: GDP growth may plunge to 1.1% in FY21, says SBI report

According to the SBI Ecowrap report, the extension of the lockdown would result in economic loss of Rs 21.1 trillion or 6 per cent of the nominal Gross Value Added (GVA).

Covid-19 impact: Economic growth may fall to 1.1% in FY21, says SBI report

According to the SBI Ecowrap report, the extension of the lockdown would result in economic loss of Rs 21.1 trillion or 6 per cent of the nominal GVA

India's economy may see first contraction in 40 years on lockdown extension

The lengthening of the mandatory stay-at-home period to 40 days from 21 days will result in a direct output loss of more than 8 per cent over that time, according to Sonal Varma of Nomura Holdings.

India's reduced GDP forecasts 'too optimistic': Ex-CEA Arvind Subramanian

Subramanian, along with public policy expert Devesh Kapur of Johns Hopkins University, was speaking at a webinar organised by National Council of Applied Economic Research.

India agriculture output lone bright spot in an economy set to shrink

Farm sector growth will top 3 per cent in the year started April 1, Ramesh Chand, an adviser to PM Narendra Modi, said in an interview.