Tag Archives: indian economy

The Indian economy is the hardest hit among the major economies, US brokerage Goldman Sachs said on Tuesday, slashing its 2020-21 GDP forecast to a 14.8 percent contraction. He had previously estimated that the country’s economy, which is now home to the second-highest number of Covid-19 infections, will contract by …

Investment bank Goldman Sachs said Tuesday that it expects the Indian economy to experience a deeper recession in fiscal year 21 with a 14.8% contraction from its previous estimate of an 11.8% drop in economic activity. “In light of the second quarter GDP report (June quarter), we are making further …

By: ENS Economic Bureau | New Delhi | Updated: September 8, 2020 7:27:06 am The Minister of Finance, Nirmala Sitharaman, in the fourth edition of the Business Reform Action Plan. As the States ruled by the center and not BJP Continue to face the mechanism to comply with the compensation …

New Delhi: Calling the 23.9% drop in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said the bureaucracy should grow out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding that “sadly, after an …

By Mihir Sharma, India is recovering from a quadruple hit that is virtually unique even during this pandemic. First, growth has suffered an impact that appears to be greater than any of its peers, with GDP contracting 23.9% in the first quarter after the pandemic. While the economy has reopened …

A small positive economic growth in 2020-21 may not be ruled out as sectors such as agriculture and essential goods and services were fully operational in the first quarter despite the coronavirus-induced lockdown, according to a document written in co-authored by former RBI Governor C Rangarajan. Rangarajan and India’s EY …

Written by George Mathew, Sandeep Singh, edited by Explained Desk | New Delhi | Updated: September 6, 2020 2:47:13 pm India’s foreign exchange (forex) reserves increased by $ 3.883 billion to hit an all-time high of $ 541.431 billion in the week ending August 28. (File photo) India’s foreign exchange …

Written by Udit Misra, edited by Explained Desk | New Delhi | September 6, 2020 8:02:05 am Migrant workers return to New Delhi from parts of Uttar Pradesh on August 10, 2020 (Photo Express: Praveen Khanna). Dear readers, The past week has once again been quite hectic for the Indian …

Congressional Top Leader P Chidambaram on Saturday criticized the government’s response to the coronavirus pandemic in the country as he predicted that the infection count in India could touch the 6.5 million mark by the end of September. “He had predicted that the total number of infections would reach 55 …

By: Desk Explained | New Delhi | Updated: September 4, 2020 11:12:41 am Workers carry sacks of food grains at a market in Kolkata on Thursday, Sept. 3, 2020 (AP Photo: Bikas Das) The GDP growth figure for the first quarter, a 24% contraction, was in line with expected and …