India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
His celebratory gesture on Thursday night marks a first for Downing Street, which annually sees the UK prime minister host a Diwali gathering and an Annakut, or spread of festive food, from London's Swaminarayan Mandir next door at No 10.
He said the 'toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society' is stifling economic activity and growth.
'Two consecutive quarters of negative growth are the technical definition of an economic recession, and for the first time in this generation's memory, we may be staring at one,' observes Aakar Patel.
'Seen in the context of world turmoil in face of the pandemic and the Chinese 'miracle' of being the only country in the world to control it, this is not merely a 'Sputnik' moment, but a 'Sputnik Plus' moment,' argues Colonel Anil A Athale (retd).
As the states showed progress in fighting the deadly contagion, governors Andrew Cuomo and Philip Murphy have begun to offer details on reopening in the months ahead.
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
Maintaining that the tax concessions announced by the government will only 'beautify' its balance sheets, the Communist Party of India-Marxist said on Wednesday the measure would not do anything to bring the country's economy out of recession.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
The answer to that depends on whether the globe is able to contain the virus spread, says Samie Modak.
The report says, the emerging markets continue to have uneven performance but India recovers from decelerating growth. Narendra Modi government, it added, continues business-friendly growth reforms, the economy grows at 6 per cent and the market rises 20 per cent.
The Forbes.com Investor Team speculates about the next catastrophe. Could be autos, or could be a major endowment or pension fund.
It is important for working professionals to not get attached to a designation or title or brand or a company name, asserts Aditya Malik, MD & CEO, Talentedge.
As the world awaits the end of the global pandemic, rural Bengal might be witnessing a recession unfolding in bits and pieces. With factories and tea gardens closing down, agricultural income falling and storm Aila ravaging a large part of deltaic West Bengal in 2010, migration gradually became a norm.
During the pre-budget consultation with Union finance minister, some states made a case for fiscal expansion by boosting consumption to tide over the sluggishness in the economy.
Stating that the economic costs of shutdown of the global economy are accumulating rapidly, Moody's projected that all G-20 advanced economies would contract by 5.8 per cent in 2020.
Recent unemployment numbers shocked economists and sent the markets falling. Don't expect positive news for a long time.
All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank.
Every option before the finance minister comes with a price tag, observes T N Ninan.
Indian wage growth was by far the most unequal.
Amid fears of double-dip recession, Finance Minister Pranab Mukherjee on Friday called for concerted action by G-20 nations to provide impetus to the world economy and deal with the related problems.
Hiring during a recession and leveraging a stable succession gameplan are just a few amongst many other things that this firm did right.
Olympics organisers must replan the Games without running up huge additional costs. IOC President Thomas Bach said his organisation faces several hundred million dollars in supplementary costs.
Parliament reconvenes after a day of adjournment following the demise of former MoS external affairs E Ahmed.
In 2010, Canada welcomed the highest number of permanent residents in 50 years, Jason Kenney, minister of citizenship, immigration and multiculturalism, announced on February 13.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
I believe that the Indian IT industry has an opportunity to make further inroads into the US market during the slowdown phase of US economy, says Ashok Soota.
In Q1, India's GDP shrank by a staggering 24 per cent year-on-year amid the imposition of one of the most stringent global nationwide lockdowns.
Senior international Olympics official John Coates said on Saturday the delayed Tokyo Olympics could end up being the greatest Games ever, coming next year as the world emerges from COVID-19 crisis. Coates, Australia's Olympic chief and head of the International Olympic Committee's inspectorate for the Games, cited the examples of positive Summer Games that followed the two world wars of the 20th century. The Tokyo Games were postponed for a year to 2021 in the aftermath of the new coronavirus outbreak.
On the hike in fuel prices, she accused the government of profiteering and said it is turning a disaster into an opportunity to fill its coffers. She also alleged that the government is breaking the back of the poor, the farmers, and the middle class due to its 'insensitivity'.
Ex-Infosys CFO V Balakrishnan said the IT companies 'have to get employees who understand new technologies, they have to get rid of some of the employees, who are more on the legacy, and try to attract talent which is more digital'.
Given below, in the table, are the estimated losses that some of the world's largest banks have suffered on account of home loan defaults in the US.
The Chief Financial Officer of Washington DC, Natwar Gandhi, who is credited with turning around the financial fortunes of the US capital, on Monday said America needs to borrow more and spend more money in order to stimulate the economy.
A Citi strategist, Guillermo Felices, in a study has enumerated eight shocks that are hitting, or are soon going to hit, the global economy.
India and the US are among the countries excluded from the list of nearly 60 low-risk countries.
In an address during the virtual meeting of the American Association of Physicians of Indian Origin (AAPI) on Saturday, Modi said COVID-19 had been used as an opportunity to work towards making the country self-reliant.
China, besides denying the United States allegations that COVID-19 has emerged from a bio-lab in Wuhan, also rejected that it emanated from a wet market in the central Chinese city from bats or pangolins before infecting humans.
Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by the fast-spreading virus.
Thirty-five Union ministers on Friday huddled in a strategy meeting for an image make-over for the government on a day when Congress began its foot march against the land bill from the symbolical Bhatta Parsaul village.
Improvements in the labour market has triggered this sentiment.
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