What did the RBI warn about falling GDP amid the pandemic and what awaits us? The story so far: The latest monthly newsletter of the Reserve Bank of India (RBI) features an article by an official in its Monetary Policy Department titled ‘An Index of Economic Activity for India’, where …
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India’s currency is strong, the stock market is rising, and long-term interest rates are under control. The technical recession that ruined the June and September quarters is probably over. Prime Minister Narendra Modi has rolled out the red carpet for industries ranging from automobiles and solar panels to specialty steels. …
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The Indian economy is likely to enter a recession phase for the first time in the second quarter (July-September) of the current financial year, and the Gross Domestic Product is expected to contract by 8.6%, the Bank said. of the Reserve of India in a bulletin. released Wednesday. Technically, a …
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By: Express Web Desk | New Delhi | November 12, 2020 12:52:49 pm The main leader of Congress, Rahul Gandhi (Express photo by Amit Mehra / Archive) Congressional leader Rahul Gandhi on Thursday targeted Prime Minister Narendra Modi over the RBI report, claiming the country has entered a recession for …
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Image for representation. The central bank has “predicted” that the Gross Domestic Product (GDP) for the July-September quarter is set for a contraction of 8.6 percent. News18.com Last update: November 12, 2020 12:14 PM IST FOLLOW US: For the first time in history, India’s economy entered a “technical recession” in …
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India’s economy likely contracted for the second consecutive quarter, according to a team of economists that included Michael Patra, the central bank’s deputy governor in charge of monetary policy, pushing the country into an unprecedented recession. Gross domestic product contracted 8.6% in the quarter ending September, the Reserve Bank of …
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India’s economic recovery prospects have gone from bad to worse after the nation emerged as a new global hotspot for the coronavirus pandemic with more than 5 million infections. Economists and global institutions like the Asian Development Bank have recently cut India’s growth projections from record lows as the virus …
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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 …
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A man wearing a protective mask walks past a dog sitting on a sack of garlic in a closed wholesale market after authorities announced the closure for one day this week in the state of West Bengal, amid the spread of coronavirus disease (COVID-19), in Kolkata. (Reuters) For the first …
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