A global failure to respond to climate changes could result in about 8.7 per cent economic loss in India's Gross Domestic Product (GDP) by 2100, Asian Development Bank said.
Both the government as well as the RBI took a series of steps to curb imports of gold and other non-essential items in addition to increase foreign exchange inflows.
The Opposition on Thursday hit out at Prime Minister Narendra Modi saying his note ban decision was "reckless".
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
MD & CEO of ICICI Lombard GIC is hopeful that in this budget, the government will announce a few measures that would aid higher adoption of insurance products among retail consumers.
"According to the global financial services major, though CAD at 3.2 per cent of GDP is significantly lower than the 4.8 per cent it registered in fiscal year 2012-13 ", it still remains higher than the 2.4 per cent of GDP that we estimate as the optimal current account deficit".
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
The revision in base year of India's national accounts will increase the size of the economy to Rs 111.7 trillion in FY14, India Ratings (Ind-Ra) said on Wednesday.
The battle on creating jobs is virtually lost. If the battle for achieving higher growth too is lost, then its political consequences could become difficult to manage, says A K Bhattacharya.
'Agri reforms need to go beyond the limited concerns of these three laws in improving agriculture productivity in cereal and crop diversification and production patterns.'
The Budget provides a reassuring message about Prime Minister Narendra Modi staying the course.
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
In 2015-16, reforms will take hold, growth in GDP, will accelerate, and government processes and statutory clearances will speed up
Business activity contracted in Q2 FY20, the first contraction since 2013-14 and the second since the 2008 global financial crisis, report, Abhishek Waghmare and Anup Roy.
The government is committed to restricting the fiscal deficit at 4.1 per cent of the GDP during the current financial year
Nitin Desai suggests some concrete measures to revive investment and boost growth.
India is committed to getting back to a sustainable growth path of 8 to 9 per cent, Prime Minister Manmohan Singh has said, adding that such a target is achievable because the fundamentals of the Indian economy remain strong.
There will be a huge market for healthcare professionals, data and security experts and digital marketers, says Navneet Singh, founder, Avsar HR Services.
Reversal in the declining economic growth trajectory is clearly the need of the hour and all steps should be taken to bring about this change.
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
'We are moving away from the Modi promise of less government,' says T N Ninan.
'India has benefited from lower oil prices and remains the fastest-growing large economy in the world.'
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
Tharoor was asked by a Pakistani journalist as to how the political fortune of the Indian government was impacted by the rising COVID numbers. He said it was paradoxical as the government was "not doing well" in dealing with the pandemic and people realise that, but polls suggest that it has not hurt the BJP politically as it should.
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.
Among the bank groups, under the baseline scenario, public sector banks' gross NPA ratios may increase to 13.2 per cent by September 2020 from 12.7 per cent in September 2019.
The social ills adduced to capitalism have less to do with capitalism than individualism.
If the RBI governor's logic holds, the rupee is far from being extremely overvalued.
In his address at an extraordinary video conference of the G-20 leaders, Modi also urged the grouping to come out with a concrete action plan to fight the pandemic and said human beings rather than economic targets should be put at the centre of its vision for global prosperity and cooperation.
More people felt optimistic about their economic condition in November than in the same month a year ago, says Mahesh Vyas.
In another round of economic booster, Sitharaman announced steps to help homebuyers and push exports.
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
Weighed down by a weak rupee, the Reserve Bank on Tuesday chose to keep all key interest rates unchanged and asked the government to take urgent steps to reign in the high current account deficit.
'Once the lockdown is lifted, we will see some pickup in demand.' 'And my sense is that it will be a long walk this time given that we have lost three months of economic activity.'
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