The Indian economy is seen recovering faster than expected and the Reserve Bank is likely to have come to an end of the rate easing cycle, according to global forecasting firm Oxford Economics.
The Indian economy is witnessing a strong recovery after a long and strict lockdown, Finance Minister Nirmala Sitharaman on Thursday said.
The country's economy, which has shown resilience to come out from a downturn caused by the COVID-19 pandemic, is expected to bounce back from the next fiscal, State Bank of India chairman Dinesh Kumar Khara said on Saturday.
Finance Secretary Ajay Bhushan Pandey has indicated that the Modi government is working on another stimulus package.
The last six years have seen the spirit of competitive and cooperative federalism in all our actions. A country as large as ours cannot develop only on the one pillar of the Centre, it needs the second pillar of states, Prime Minister Narendra Modi has said.
Ahead of the Bihar Assembly elections, Congress President Sonia Gandhi has attacked the Modi government for what she called "targeting political opponents and civil society members" and cautioned that the world's largest democracy was at the crossroads as "dissent was stifled as terrorism or branded anti-national activity".
The International Monetary Fund in its annual World Economic Outlook significantly downgrades India's growth for the fiscal year 2020 to minus 10.3 pe
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday.
The economic recovery of India has gained momentum due to the "Aatmanirbhar Bharat" economic package announced in May, said a report by the Department of Economic Affairs (DEA).
Impacted by disruptions caused by the COVID-19 pandemic, India's economy is forecast to contract by 5.9 per cent in 2020, the UN has said in a report, warning that while growth will rebound next year, the contraction is likely to translate into a permanent income loss.
Fitch Ratings on Tuesday projected a massive 10.5 per cent contraction of India''s economy in the current financial year. India recorded one of the sharpest gross domestic product (GDP) contractions in the world in April-June.
Rajan said that because of the slide in the growth over the last few years, India entered the current crisis in a more "debilitated" state as compared to its peers.
India will see a sharp V-shaped recovery in the third and fourth quarter of the current fiscal, but FY21 GDP growth would ultimately be in negative territory as the coronavirus lockdown led to serious demand and supply dislocations, 15th Finance Commission Chairman N K Singh said on Monday.
The RBI had earlier said the country's GDP will contract in FY21, but did not give any number on the same, even as analysts are pegging a negative growth of up to 9.5 per cent.
Due to coronavirus pandemic India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1%. The Chief Economists at the World Economic Forum answers how long will it take for India to recover from this?
Due to coronavirus pandemic India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1%. The Chief Economists at the World Economic Forum answers how long will it take for India to recover from this?
RBI Governor Shaktikanta Das has said that the Indian economy is showing signs of revival as restrictions across the country are being lifted gradually. He added that post containment of COVID-19, a very careful trajectory has to be followed in the orderly unwinding of countercyclical regulatory measures.
BCCI treasurer Arun Dhumal said that the Chinese sponsorships in events like IPL is supporting the Indian economy.
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.
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