However, the Indian economy is expected to bounce back in 2021, the World Bank said.
CRISIL chief economist D K Joshi is of the opinion that GDP is an indicator of the health of the economy.
Global rating agency Moody's on Thursday placed India on a possible upgrade on foreign currency debt and painted a rosy picture for the economy, projecting a seven per cent growth.
CRISIL predicts no more than 6.5 per cent yearly from now till FY19, and only with a stable and decisive government; predicts problems in job generation, poverty and demand.
Santosh Patkar of Devgadh Taluka Sindhudurg district of Maharashtra is a worried man these days. Devgadh, which is known as the home to world famous Alphonso variety of mangoes, has seen an unusual drop in yields which is affecting farmers' income. Being one of the primary agricultural produce from the area, Santosh is not untouched by this somewhat rare phenomenon. He said in his own mango garden, yields have come down by a third from most trees.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Low growth visibility and trouble with regulators have resulted in lack of interest from investors
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Most of the NBFCs do not take public deposits but that does not mean they cannot create systemic risks. The banking system has at least Rs 57,000 crore exposure to IL&FS. Haven't the banks invested public money in IL&FS papers, asks Tamal Bandyopadhyay.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
Top Indian IT firms, such as TCS, Infosys, and Wipro, have signalled taking aggressive cost take-out measures, including reduction in sub-contracting costs, travel expenses, freeze in salary hikes, and holding back variable payments, among others.
South leads; North-East at bottom but moves ahead, finds out the IndiaSpend Team
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
Heading Crisil would have been the peak of most people's professional lives. But Roopa Kudva felt that was the right time to change tracks.
Earlier bidders in the SHAKTI auction were finding it difficult to meet their PPA obligations owing to shortfall in coal supply. The industry lobby has urged the Centre to review the guidelines and allow former participants as well.
India's telecom services would continue to record a strong growth with teledensity more than doubling to 18 per cent in the next five years
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Obtaining reliable information is the essence of a sound investment strategy and one of the most reliable suppliers of financial information in India is CRISIL or the Credit Rating and Information Services of India Limited.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
Electricity generation has outperformed the industrial production index for five months in a row this financial year, even as the broader economy is struggling to grow.
The stimulus package announced by Finance Minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday. The stimulus package is "imaginative and forward looking, yet fails to involve banks as frontline warriors in revival of economy," Satish Marathe, a member of RBI's central board, said in a social media post.
The country's current account deficit is likely to decline to 1.1-1.2 per cent of the gross domestic product in the third quarter, say rating agencies.
Veterans in the travel industry, a well-known corporate lawyer, and a marquee US-based hedge fund have backed the upcoming low-cost airline Akasa Air. Founded by former Jet Airways chief executive officer (CEO) Vinay Dube, the venture counts ace stock trader and investor Rakesh Jhunjhunwala as its biggest financial backer with an investment of around Rs 300 crore. A person with knowledge of the development said most of the people were well known to Jhunjhunwala and Dube, who approached them during the conception stage.
Multinational IT firms who are now leveraging the India offshore model to deliver value to their customers are planning to hire over 13,000 professionals in the next 12 months, CRIS INFAC, a business research firm of CRISIL, said on Tuesday.
Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
Crisil Research expects retail inflation to rise 60 basis points to 4 per cent this fiscal from 3.4 per cent in 2018-19.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
After the easing of lockdown in mid-May, auto companies were able to resume production in a phased manner, but the ramp-up was slow due to a broken supply chain, and lockdown-induced restrictions.
Technically, the Indian economy is on road to recovery.
"Profitability of companies will be negatively impacted due to rising input prices, as the ability of companies to pass on these hikes to customers is limited. Further, higher interest rate outlook would lead to lower investment, as profitability margins will be reduced," Crisil Ratings Director Pawan Agrawal said over the conference call.
The cloud kitchen market in India will hit $1.05 billion by 2023. Just 13% of the total market has been utilised so far.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Growing trees means much more than strewing seeds around; it takes an understanding of local climatic conditions, indigenous strains and partnership with local communities.
Investors are keenly awaiting the announcement of the macroeconomic data.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
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