'Growth would have to be 7% in the October-March period, if the year as a whole is to clock 6%.' 'Who would bet on that when, in the world of real numbers, both exports and imports have continued to fall, car sales have continued to slump, and the industrial production index shows yet again a drop in output?', asks T N Ninan.
With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. However, it is among the only two major economies, which will register a positive growth rate in 2020. The other being China, for which the IMF has projected a growth rate of 1.2 per cent.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
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.
"The FATF plenary decided continuation of Pakistan in 'Grey List' till its next meeting to be held in October," an official privy to the development told PTI.
The Covid-19 pandemic has forced a whopping 8.7 lakh expatriates from Kerala to return home, most of them from the Gulf, since last May, with a majority of 5.67 lakh citing job loss as the reason for it, according to official data.
Facing the twin task of fighting the coronavirus pandemic today and building a better tomorrow, the world is experiencing a new Bretton Woods moment, IMF managing director Kristalina Georgieva said
Pakistan has improved its full compliance on only two of the 40 FATF recommendations, the APG report noted.
India, World Bank ink $375 mn deal to help develop country's first waterway
The country's new economic roadmap highlights the importance of creating a virtuous cycle of investment, savings and exports in order to sustain rapid economic growth over the next five years.
The US govt has urged the Supreme Court to reverse a lower court order on the Tata Mundra Power Plant in Gujarat funded by a financial wing of the World Bank
Tata Motors was the top gainer in the Sensex pack rallying 5.32 per cent. Among other prominent gainers were Bharti Airtel, IndusInd Bank, Sun Pharma, Axis Bank, Maruti Suzuki, Bajaj Auto and TCS.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
The Tamil Nadu Assembly on Friday passed a bill providing internal reservation of 10.5 per cent for Vanniyars, a most backward community in government jobs and in admission to educational institutions.
The South Asian nations could script a new history of cooperation and prosperity that could serve as an example for other nations, notes Dr Rahul Mishra.
By 2015, it expects, the growth rate of China would be 7.9 per cent and that of India 7 per cent.
'India is the largest stomping ground in the world for impact investing as we have an extraordinary combination of entrepreneurial drive with huge, absolute demand for all kinds of social services,' IDFC First Bank's chief Rajiv Lall tells Anjuli Bhargava.
The UNICEF is the world's largest single vaccine buyer, procuring more than 2 billion doses of various vaccines annually for routine immunisation and outbreak response on behalf of nearly 100 countries.
'We don't need to hinge India-UK relations on shared hostility toward China,' observes Ambassador M K Bhadrakumar.
A committee is working on removing complications in the Companies Act.
When he speaks of them, it is either in denial or to highlight successes that are only part of a larger story that is worrisome in its totality, observes T N Ninan.
India's power sector faces annual losses of $27 billion by 2017 unless sweeping reforms are taken to tackle inefficient subsidies, theft and political meddling in utility companies, the World Bank said.
Inflation breached the upper end of the RBI's comfort level of 4 per cent plus-minus two percentage points.
Prime Minister Narendra Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with Finance Minister Nirmala Sitharaman as the pandemic hit sectors from small industries to the aviation sector hard with millions of jobs at stake.
World Bank's wrongful depiction of Indian territories as part of Pakistan and China in a map has prompted an Indian lawmaker to lodge a strong protest.
India leads global remittances in the year 2013 with a whopping $70 billion in its kitty, of which USD 65 billion were earned from the country's flagship software services exports, the World Bank reported.
These clauses deal with penalties, licences, registration and National Transport Policy, among others.
Non-profit Code for India, which inspires techies to volunteer their time and talent to the developing world, on Thursday announced that parallel India-US hackathon will be held at the Google campuses in Bangalore and in Mountain View, California.
Globally, London's Tube and French railway networks are already using this technology in their corrosion-prone areas.
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
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