A tough initial lockdown was imposed beginning March 25 but dreams of a V-shaped recovery after it was eased in May have been obliterated by a surge in cases and new lockdowns.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it. The survey unveiled two days before the Union Budget is broadly in line with forecasts by the Reserve Bank of India (RBI) which has said it expected the country's GDP to contract by 7.5 per cent in the year ending March 31.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
Former Andhra Pradesh minister Bhuma Akhila Priya was on Wednesday arrested in connection with the kidnapping of a former badminton player and his two brothers from here over a land dispute, police said.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
Unless public health is prioritised over swift re-opening, the chances are that a third wave will hit India sooner than we would like.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
The deep depression in Bay of Bengal that crossed the coast close to Kakinada in East Godavari district on Tuesday morning left a trail of devastation as it brought with it a massive downpour in several districts of Andhra Pradesh.
He also alleged that the Bharatiya Janata Party wanted to create a Delhi-like situation in Puducherry and take power away from an elected government.
AAP's Twitter handle on Tuesday shared an image of a young boy dressed up as Chief Minister Kejriwal, with a cap bearing the party's symbol, a v-neck maroon sweater and, of course, a muffler wrapped around his head.
'Vaccination is very important for an economy to start functioning properly.'
The unlocking of the economy since June led to a significant recovery in various macro, micro and high-frequency data points, resulting in the equity markets surpassing their previous lifetime highs.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
The activist will be produced before the magistrate court in Kochi after completing formalities of her arrest, they said.
Addressing a campaign rally in Las Vegas, Nevada on Friday, Biden said that the country deserved a president who understood what people were going through.
'There is still scope for selective stockpicking.'
The fighter jet conducted Eklavya formation by flying at a height of around 300 meter along with two Jagaur and two MIG-29 aircraft. The five jets resembled a V shape with Rafale leading the pack.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
If we work together with dedication, concentration and effort, we should be able to achieve our aspirational growth target of double-digits for a very long period of time, suggests K V Kamath.
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Categories such as washing machines, refrigerators and television sets have seen sales growth of around 8-10 per cent in August compared to last year, industry sources said, with September also reporting a similar growth trajectory.
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
Rehana Fathima was seeking anticipatory bail in cases against her for allegedly circulating a video in which she was semi-nude, allowing her minor children to paint on her body. The bench said it was a little baffled at the kind of case that has come up before it.
In Q1, India's GDP shrank by a staggering 24 per cent year-on-year amid the imposition of one of the most stringent global nationwide lockdowns.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
'There is good indication that the economy is bouncing back, but the problem is, we should look at the eight quarters preceding March 2020.' 'The growth had fallen below 3.1% before March 2020.' 'So, the governments must realise that even if you transform the best of green shoots into banyan trees, you see only 3.1% growth.'
The actor showed off her relaxed style on the cover of Grazia.
And why markets could give up 25 per cent of all these gains made since March 2020
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
'If the Biden-Harris team makes it to the White House, India's headaches will multiply,' observes Aditi Phadnis.
Gloves, masks, vitamin C, wet wipes and sanitisers are the new essentials you have to move around with.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Prices of residential property in Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a sharp fall in H1-2020 with Kolkata witnessing the steepest drop of 7.5% to Rs 33,433 per square meter. Demand for office space fell the most in Pune and NCR markets at 47% and 45% respectively.
It's not the first time Katrina Kaif has taken style lessons from Deepika Padukone.
'It is not simply demonetisation or GST, it is this government's failure to manage the financial sector crisis.'
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