Monsoon is likely to be below normal in the current year at 93%.
The Adani group is in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The group, which expects to close the ongoing financial year ending March with Rs 80,000 crore of Ebitda (earnings before interest, tax, depreciation, and amortisation), has held a series of road shows in London, Dubai, and Singapore with potential investors, briefing them about their future growth plans. The group's flagship, Adani Enterprises, may dilute part of its stake in the airport-holding firm and/or the green hydrogen business to these funds, which are keen to invest in the Indian infrastructure sector, said a source close to the development.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
Britain's foreign secretary said Prime Minister David Cameron would take note of the assessment in the context of Modi's plans for the development of the Indian economy.
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
Moody is expected to agree a two-year contract to lead the team to the 2007 World Cup.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
"It's a welcome development, but we also feel it was long overdue... It's a recognition of the actions that the government has undertaken like GST, bankruptcy. We also need to keep all these things in perspective," Chief Economic Adviser Arvind Subramanian said.
India will find it tough to meet its fiscal deficit target for the new year starting in April, given its plans to cut taxes and step up spending on infrastructure, Moody's Investors Service said.
Central banks in India, China and South Korea are closely monitoring the emerging inflationary pressures on their economies and hikes in interest rates could be expected across the Asia-Pacific region after Australia raised key interest rates.
The imports may recover faster, thnaks to a strong demand. "As global prospects are now improving, especially with the US economic contraction easing, India's exports may begin to recover later in the year," Moody's said in a statement.
Former Australia cricketer Tom Moody feels India should have given a chance to in-form batsman Shubman Gill ahead of Prithvi Shaw in the opening day-night Test against Australia in Adelaide.
Rangarajan said that growth has many dimensions to it.
After declining for 10 consecutive weeks, Inflation, based on wholesale prices, rose by 0.36 percentage points for the week-ended January 10, from 5.24 per cent for January 3.
The Indian economy grew by 4.7 per cent in the April-June quarter last year and the growth rate was also 4.7 per cent for full 2013-14.
The agency noted that the reviews of these banks' sub-debt ratings were not indication of any change in the affected banks' fundamental credit quality.
High fiscal deficit and debt ratios remain one of the biggest constraints.
The RBI has lowered interest rates by 1.25 per cent since January.
The Indian Premier League's Hyderabad franchise, now called 'Sunrisers', have appointed former Australia cricketer Tom Moody as the team's new coach, and former India cricketers Krishnamachari Srikkanth and VVS Laxman mentors.
The Indian Premier League's Hyderabad franchise, now called 'Sunrisers', have appointed former Australia cricketer Tom Moody as the team's new coach, and former India cricketers Krishnamachari Srikkanth and VVS Laxman mentors.
Batters are mauling bowlers this IPL like never before, as the impact player rule effectively gives every team 12 players. Where is it taking the game?
Moody's, on Thursday, reaffirmed its positive rating outlook for the Chinese economy on the back of favourable medium-term growth prospects.
"Fitch Ratings has placed Punjab National Bank's (PNB) Viability Rating of 'bb' on Rating Watch Negative (RWN), following the large fraud reported by PNB," the US-based agency said in a statement.
Externally, the global economy is stabilising, with better growth is expected this year.
The government has last month significantly liberalised the FDI regime, putting most of the sectors on the automatic route
Country's biggest lender State Bank of India had proposed merger of five associate banks.
Sunrisers Hyderabad are lying a lowly seventh with eight points from nine games in the Indian Premier League but head coach Tom Moody is not disheartened by the dismal scenario and said on Wednesday that the team can make it to the play-offs by winning four out of their next five games.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
Telcos may hike mobile rates to recover spectrum cost: Moody's
Rating agency Moody's has placed 13 Indian banks, including State Bank of India, ICICI Bank and Punjab National Bank, on watch for possible downgrade under a global review of systemic support available for the banking sector.
The report did not specify the impact the rate hike will have on India.
India's economic growth rate in the January-March quarter is likely to slip to 7.2 per cent q-o-q.
SunRisers Hyderabad's Director of Cricket Tom Moody also urged everyone in India to stay safe and take all precautions to curb the spread of Covid-19.
The US Fed on May 24 hinted at withdrawing its third round of quantitative easing, or bond buying programme, worth $85 billion each month, which began in the wake of the worst credit crisis in September 2008.
Differing with the downgrade accorded by Moody's, leading ratings agency Standard & Poor's has upgraded the Indian banking sector saying its domestic regulations are in line with international standards.
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," it said in a statement, adding strong growth potential is a key supporting factor for the sovereign rating.
Stating that the forthcoming elections will delay the reform process and hurt growth, international rating agency Moody's on Monday said it expects growth to pick up to only 5.5 per cent in FY15.
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