Nadella-PM Modi meeting: Microsoft Chairman and Chief Executive Officer (CEO) Satya Nadella is on an India trip and his trip includes Mumbai, New Delhi and Bengaluru.
An increase in power consumption means economic activities stepped up which is a news for India.
Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001, except for the global financial crisis and the acute phase of the COVID-19 pandemic.
Indian economy growth: Allaying concerns of high imports denting the fiscal architecture, he said the government was on course to meet fiscal deficit target of 6.4 per cent of GDP in current fiscal ending March 31, 2023.
Shehbaz Sharif highlighted the difference between economic development in the initial 25 years of Pakistan's creation 75 years back and said that the economic development after that has a "stark" difference.
The report said bank advances to micro, small and medium enterprises (MSMEs) could grow 12-14 per cent this fiscal, riding on the multiplier effect from some pick-up in capex.
National Asset Reconstruction Co Ltd (NARCL) has commenced its activity, Sitharaman added.
Quoting the stress tests on banks, the governor has also warned that gross NPAs may jump to 8.1-9.5 per cent by September 2022 from 6.9 per cent in September 2021.
Union Minister Ravi Shankar Prasad on Saturday said the central budget for 2021-22 fiscal has focused on spending to build infrastructure and boost the economic growth of the country.
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.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for the vaccine.
The report's estimates are based on the International Monetary Fund's projections of a deeper recession in 2020 and a slower recovery in 2021.
Tata Consumer Products Limited (TCPL) sees 'digital transformation as a key driver' for growth of the company and it is strengthening capability in this area, according to the company's annual report. The Tata Group firm expects a long term shift in consumer behaviour due to the coronavirus pandemic, while in short term an increase at-home consumption with a reduction in orders for take-out or deliveries is expected.
Hit hard by coronavirus outbreak, Asia is expected to witness zero per cent growth in 2020, its worst growth performance in almost 60 years, but still the world's largest and most populous continent is likely to fare better than other regions in terms of activity, IMF said.
Investment in infrastructure is necessary for the economy, as power shortages, inadequate transport and poor connectivity affects overall growth performance, as per the Economic Survey 2019-20, tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman.
Senior Congress leader P Chidambaram said he won't be surprised if GDP growth goes even lower after IMF lowered India's economic growth estimate for the current fiscal to 4.8 percent.
The Reserve Bank on Friday said the country's financial system remains despite slowing economic growth. The country's GDP slowed to a six-year low of 4.5 per cent in the second quarter of FY20, forcing the RBI to slash its growth forecast by 240 basis points to 5 per cent for the fiscal in its December monetary policy review.
Chief Economic Advisor Krishnamurthy Subramanian on Friday said the government is focusing on increasing consumption to boost economic growth.
India's economic growth has slowed to 4.5 per cent in July-September from 7 per cent a year ago, government data said on Friday.
"Rated companies’ credit profiles are unlikely to improve significantly over 2020-2021 due to elevated debt levels, weakening profitability and the continued economic slowdown, which is pressuring both investment and consumption," Kaustubh Chaubal, a Moody’s Vice President and Senior Credit Officer said.
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