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Indian economy to be in ‘deep freeze’: Moody’s

Moody’s Investors Service said India’s economy will not grow in the current financial year because of the “deep shock” triggered by the coronavirus outbreak and cautioned against downside risks to growth from a further extension of the lockdown. Moody’s expects a bounce-back to 6.6% growth in FY22, assuming a gradual pick-up in economic activity and […]

Software Fills In For India-Based Compliance Teams In COVID Lockdown

The COVID-19 crisis has exposed a lot of unfamiliar reliance on globalization and outsourcing, but regulatory compliance? With India on a severe lockdown, banks that had outsourced a lot of their compliance work to India find it can’t be done — the staff can’t go into the office and often the internet is too weak […]

IMF says India’s growth rate could top 7% in 2021 if the coronavirus outbreak is brought under control

Image by Prasanta Sahoo from Pixabay If India can bring the coronavirus outbreak under control, its growth rate could bounce back to over 7% again in 2021, according to the International Monetary Fund’s mission chief for India. During its virtual spring meeting, the IMF predicted India would grow 1.9% for the fiscal year that ends on March […]

World’s biggest lockdown may have cost Rs 7-8 lakh crore to Indian economy

The world’s biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people,The world’s biggest lockdown may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said…. Read more at:https://economictimes.indiatimes.com/news/economy/finance/worlds-biggest-lockdown-may-have-cost-rs-7-8-lakh-crore-to-indian-economy/articleshow/75123004.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst SOURCE: THE ECONOMIC TIMES (6)

Covid-19 lockdown impact: Unemployment rate rises to 23.4%

Image by Rajesh Balouria from Pixabay CMIE report says India’s urban unemployment rate soars to 30.9% even as overall rate rises to 23.4%, indicating covid-19’s impact on the economy Early estimates of jobs data indicate that the coronavirus effect may have left a devastating impact on the economy, sending urban unemployment rate soaring to 30.9%… […]

Virus Outbreak Gives India Chance to Boost Share of Global Trade

As the coronavirus pandemic shakes up global supply chains, India is in a position to grow its exports market share with a little help from the government, according to Nirmal Bang Institutional Equities Pvt. India , which has for long struggled to grow its share in global exports from the current 2% level, can ramp To […]

How Modi’s budget failed India’s poorest and most vulnerable

All the women of Tongabad village hear are stories of despair. After all, in Amravati district, in the western Indian state of Maharashtra, they live in the constant shadow of death – each day, on average, three farmers kill themselves amid failing crops, poor rainfall and very low pay leading to insurmountable debts… To Read More: https://www.scmp.com/week-asia/economics/article/3049593/how-modis-budget-failed-indias-poorest-and-most-vulnerable (5)

India bets big on quantum technology

Quantum technology has been given a massive boost in India’s latest budget, receiving 80 billion rupees (US$1.12 billion) over five years as part of a new national quantum mission. India’s considerable investment in the field places it alongside the United States, Europe and Russia. In December 2018… To read more: https://www.nature.com/articles/d41586-020-00288-x (5)

India’s economy slumps as growth hits slowest pace in a decade

Faced with faltering economic growth, India‘s government has unveiled measures aimed at getting millions of Indians to spend and spurring companies to invest. The task at hand is urgent: India was the world’s fastest-growing major economy as recently as last year….. To read more: https://www.independent.co.uk/news/world/asia/india-economy-modi-budget-china-delhi-mumbai-goldman-sachs-a9313661.html SOURCE: INDEPENDENT UK (3)

India’s Modi Faces New Challenge: A Slowing Economy

Since a landslide victory last year, Indian Prime Minister Narendra Modi has pushed through a series of controversial social initiatives that have drawn cheers from supporters but been criticized as part of a divisive Hindu nationalist agenda. Now, the country’s suddenly flagging economy, which not long ago was the engine driving India’s emergence on the […]

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