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."
'Once the 60-plus population hits 20 to 30 per cent of the country, the demand for elderly-care treatments will surge -- cardiac, metabolic, neurological, and musculoskeletal medicines are going to dominate the market for the next several decades.'
'Unless you have openness when it comes to accepting what is coming your way and learning afresh, it is not going to be easy.'
Reserve Bank of India (RBI)Governor Sanjay Malhotra on Friday said it was not the regulator's job to take decisions for bank boards, speaking in the context of the wide range of enabling reforms announced for lenders during the October monetary policy review, and emphasised that financial stability remained the regulator's focus.
The recent policies that have been announced by the Reserve Bank of India (RBI) will allow banks to fully use its capital, funding profile to keep business at an equilibrium level, which otherwise was getting skewed towards retail, said K V Kamath, chairman, Jio Financial Services.
Since 2000-01, the Indian economy has shown the tendency of being unable to absorb all domestic savings as investments.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
The growth rate for the first quarter was revised upwards to 8.9 per cent from 8.8 per cent.
India, the world's third-largest oil consumer, spent 2.5 billion euro on buying crude oil from Russia in September, 14 per cent less than the previous month, a European think tank said. India remained the second-largest buyer of Russian fossil fuels in September behind China, according to the Centre for Research on Energy and Clean Air (CREA).
Almost a decade after India shifted to a formal inflation-targeting regime under the Monetary Policy Committee (MPC) framework of the Reserve Bank of India (RBI), a high-level panel of economists said that the flexible inflation targeting has largely worked in keeping it under control and no major revamp is required.
'We should not look at him as a representative of the Indian community, especially now that he is the mayor of New York. What is important is the value he upholds, which are general values that liberals across the world would believe in'
In response to US criticism of India's oil imports from Russia, the Indian Army shared a 1971 news clip highlighting the US's role in arming Pakistan.
Naval assets take years to build, and therefore, not only is futuristic force planning essential, but indigenous projects must also be put into the pipeline, technologies developed and contracts for assets signed regularly so that the Indian Navy always remains a future-focussed force, asserts Vice Admiral Biswajit Dasgupta (retd).
The US Chamber of Commerce has filed a lawsuit against the Trump administration's decision to impose a USD 100,000 fee on new H-1B visa petitions, arguing it harms American innovation and competitiveness.
He played just two first-class matches.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
With demand for AI skills continuing to grow across India, a report on Wednesday showed that AI-related job postings increased to 11.7 per cent this September from 8.2 per cent in the same month a year ago. In September, 11.7 per cent of Indian job postings explicitly mentioned AI in their job descriptions, up from 10.6 per cent three months earlier and 8.2 per cent a year ago, global hiring platform Indeed said in a report.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
UBS has turned bullish on emerging markets (EM), including India, as it finds benign macro trends, positive momentum in earnings revisions, and resilient EM currencies helping these economies sustain higher valuations and attracting flows. Among regions, it has upgraded Mainland China to 'attractive' and China Tech to 'most attractive', while downgrading Philippines to 'neutral'.
'India is giving selective traffic rights wherever it makes sense to allocate those traffic rights.'
'2017-2018 will be one of the best years for the country.' 'The wheel has finally started moving in the right direction. It should pick up momentum in the next 8 to 9 months to have a positive impact on the economy'
Senior Congress leader Shashi Tharoor says US tariffs are negatively impacting India, leading to job losses, and criticizes President Trump's diplomatic behavior.
'We are expecting investment, public and private, of around Rs 40 trillion by 2029.'
For 2021-22, it projected the economy to clock a growth of 10.6 per cent.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
The first of a 4-part article on how the Indian economy functions, and the problems it faces.
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.
From Bengaluru to GIFT City, British universities scale up India presence, cementing the UK's lead in global higher education partnerships.
Global tech major Adobe Systems' chief executive Shantanu Narayen on Thursday said creativity, and not software code, will be the main driver of India's economy in the future.
'Immigrants have always been America's greatest strength, building prosperity, breakthroughs, and communities that enrich us all. Instead of embracing that strength, Trump is clamping down on every form of immigration, tearing families apart, destabilising businesses, and weakening our economy'
Chief Economic Advisor Arvind Subramanian said the government has "enough ammunition" to deal with volatility in the currency market.
Belying predictions, the Indian economy grew by a significant 7.9 per cent in the second quarter of this fiscal, up from 6.1 per cent in the previous quarter, essentially due to a good showing by the industry and the services sector.
The US government will fight lawsuits aimed at blocking the USD 100,000 fee imposed on new H-1B visa petitions, asserting that the system was spammed with fraud and must be overhauled to prioritise American workers.
India's economic growth is expected to be lower at 6.3 per cent this fiscal compared to the RBI's projection of 6.5 per cent, a SBI Research Report said on Thursday. The report pegged the first quarter GDP estimate at around 6.8-7 per cent, mainly due to muted private capex.
'As the team builds, each of them will bring in a different perspective, new thinking.'
'PoK will be ours on its own. Demands have started being made in PoK, you must have heard sloganeering'
Low oil prices also means effectively transfer of wealth from the producing nations to the consuming nations
