If it doesn't do that, what Uddhav Thackeray postpones addressing today will be there on the table to confront, for whoever anchors the Sena in the years ahead, observes Shyam G Menon.
The global ratings agency keeps India's sovereign rating unchanged at 'BBB-' with stable outlook
India expects to remain unscathed this time, mainly because it is in a sweet spot as the world's third largest oil consumer, after the US and China, says Subhomoy Bhattacharjee.
With the world's worst outbreak of COVID pandemic stalling a nascent economic recovery, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. Some of the economic indicators, including the Goods and Services Tax (GST) collections, still provide confidence and incoming data will throw some more light on the state of the economy, sources said. Services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of COVID, the sources said, adding these segments might need some support on an urgent basis from the government.
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
The 30-share BSE Sensex shed 0.9% or 186 points at 20,536 while the 50-unit NSE Nifty was off 1% or 61 points at 6,091.
Macro-economic data from China and minutes of the US Federal Reserve's last meeting caused the turmoil as stocks tumbled around the globe.
India's gold demand recovered during the January-March period to witness a growth of 37 per cent at 140 tonne compared to the same quarter of 2020, due to ease of COVID-related restrictions, pent up demand and softening of prices of the yellow metal, according to the World Gold Council (WGC). The overall gold demand stood at 102 tonne during the first quarter of 2020, as per WGC data. Gold demand in value terms increased by 57 per cent during the first quarter of this calendar year to Rs 58,800 crore compared to Rs 37,580 crore in the corresponding period of 2020.
China's economy grew 6.7 percent in the second quarter from a year earlier.
The hit to economic activity will be mostly confined to the first quarter. And a third wave, if it materialises, is unlikely to be hugely disruptive for the economy, predicts T T Ram Mohan.
The year-to-date returns are 13.33 per cent for Indian funds, compared to 11.66 per cent for emerging market funds overall.
The readings, for the month of October, are based on Composite Leading Indicator that are designed to anticipate turning points in economic activity relative to trend.
Prime Minister Narendra Modi and French President Emmanuel Macron held extensive discussions on a range of bilateral and pressing global issues, including the raging conflict in Ukraine, the situation in the Indo-Pacific and terrorism, as the two top leaders agreed on a blueprint to work together in making the India-France strategic partnership a force for global good.
According to the 2013 International outlook by Columbia Management and Threadneedle Asset Management, its global partner, pace of growth in emerging markets have witnessed a slowdown over the last year, but still about 70 per cent of the world's incremental growth comes from these markets.
In India we have to be careful not to copy any level of dependence on the financial sector and infatuation with the get-rich-quick syndrome, says Jaimini Bhagwati.
Population is a touchy issue in India. Anybody will notice the crowded rat race we live in, notes Shyam G Menon.
'It may sound like sacrilege, but does it really matter if the global raters downgrade India for fiscal slippage?' asks Tamal Bandyopadhyay.
Fitch Ratings director Thomas Rookmaaker said India's debt-to-GDP ratio is likely to rise to 76 per cent from 70 per cent currently due to wider fiscal deficit and low economic growth.
Amid slowing growth and low interest rates, investors will need to focus on stock-picking, suggests John Remmert.
'The outlook for private investment, which has been such a weak link for India for so long, remains challenging.'
The US dollar strengthened against the world currencies after the Turkish lira dived almost 8 per cent, sparking a sell-off in global markets.
Interestingly, in his entire remarks, Modi never once mentioned regional security, Ambassador M K Bhadrakumar points out.
The winners of the Natural History Museum's prestigious Wildlife Photographer of the Year competition were announced at an awards ceremony in London. American photographer Karine Aigner was announced as this year's Wildlife Photographer of the Year.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.
India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested that developing economies must come together to address this bias and subjectivity inherent in sovereign credit ratings methodology. "Never in the history of sovereign credit ratings has the fifth largest economy in the world been rated as the lowest rung of the investment-grade (BBB-/Baa3). While sovereign credit ratings do not reflect the Indian economy's fundamentals, noisy, opaque and biased credit ratings damage FPI flows," the survey said.
As the pandemic unfolded, the India-China relationship has come under severe stress. To restore normalcy, agreements between the two countries must be respected scrupulously in their entirety. Where the Line of Actual Control is concerned, any attempt to unilaterally change the status quo is unacceptable, declares External Affairs Minister Dr Subrahmanyam Jaishankar.
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
'The Chinese fault lines are tremendous and we need to exploit them.'
'Probability has increased for India to have improved fundamentals'.
According to the Manpower Employment Outlook Survey released today by ManpowerGroup, the hiring pace for the upcoming quarter has rebound from both, last quarter and a year ago at this time.
The WTO's quarterly outlook indicator, comprising seven trade parameters, stood at 96.3, the lowest since March 2010 and down from 98.6 in November. Exports from India would be hit if there is a slowdown in world trade.
The coronavirus outbreak has brought a large part of the world's second-largest economy China to a standstill and its impact has been felt across industries.
The global recovery is expected to be asynchronous and divergent between advanced and emerging market economies, the IMF said on Tuesday, noting that policymakers should take early action and tighten selected macroprudential policy tools while avoiding a broad tightening of financial conditions. "Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks," the International Monetary Fund (IMF) said in its Global Financial Stability report released ahead of the Spring meeting of the global lender and the World Bank. However, actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities, it said.
After a contraction in the current financial year, India's economy is forecast to bounce back with a sharp growth rate of 9.5 per cent next year provided it avoids further deterioration in financial sector health, Fitch Ratings said on Wednesday. The coronavirus pandemic will lead to shrinking of the already slowing economy in 2020-21 that started in April. Fitch Ratings forecast a 5 per cent contraction in the GDP in the ongoing financial year.
The outlook appears to be improving as policy shifts away from austerity and toward growth.
83% of the CEOS plan to hire more in the new year.
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