Coronavirus Impact On Economy

S&P Global Ratings has kept economic growth forecast for India unchanged at 9.5 per cent for the current financial year

Finance Minister Nirmala Sitharaman will meet heads of banks next week to remove friction in credit flow to productive sectors

If the need arises, the government will infuse funds to insulate the economy from Coronavirus impact, principal economic adviser Sanjeev Sanyal said

IHS Markit's Survey: Manufacturing activity's growth in India was sluggish in August 2021 due to the Coronavirus pandemic and increasing input costs.

In its largest-ever crisis response, the World Bank has deployed over USD 157 billion to fight the impact of the COVID-19 pandemic on health, economic and social fronts over the last 15 months.

SBI Economic Adviser Soumya Kanti Ghosh: Vaccination is the only option if India has to mitigate impact of the third wave of Coronavirus infection.

RC Bhargava, Chairman, Maruti Suzuki India has said that lockdown and curfews are not a solution to tackle growing coronavirus cases as these will instead end up hitting the economy and force workers to migrate out of larger cities.

It warned that shortages in vaccine supply could weigh on the campaign's progress.

The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said today.

Saudi Arabia, the world's largest oil exporter, on Sunday said its investment plans in India are on track, noting that the Indian economy has the strength to recover from the adverse impact of the coronavirus crisis.

The fund now forecasts world gross domestic product to shrink 4.4 per cent this year, an improvement from the 4.9 per cent drop seen in June, according to the latest World Economic Outlook released this week.

Still, September was the seventh straight month that activity had contracted, the longest such stretch since a 10-month run to early 2014.

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.

Last month, the World Bank had saidIndia needs to continue with reforms to reverse the economic slowdown.

This was the Fed's last policy decision before the country's November 3 presidential election, delivering the winner a runway of low borrowing costs for years to come.

S&P Global Ratings has kept economic growth forecast for India unchanged at 9.5 per cent for the current financial year

Finance Minister Nirmala Sitharaman will meet heads of banks next week to remove friction in credit flow to productive sectors

If the need arises, the government will infuse funds to insulate the economy from Coronavirus impact, principal economic adviser Sanjeev Sanyal said

IHS Markit's Survey: Manufacturing activity's growth in India was sluggish in August 2021 due to the Coronavirus pandemic and increasing input costs.

In its largest-ever crisis response, the World Bank has deployed over USD 157 billion to fight the impact of the COVID-19 pandemic on health, economic and social fronts over the last 15 months.

SBI Economic Adviser Soumya Kanti Ghosh: Vaccination is the only option if India has to mitigate impact of the third wave of Coronavirus infection.

RC Bhargava, Chairman, Maruti Suzuki India has said that lockdown and curfews are not a solution to tackle growing coronavirus cases as these will instead end up hitting the economy and force workers to migrate out of larger cities.

It warned that shortages in vaccine supply could weigh on the campaign's progress.

The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said today.

Saudi Arabia, the world's largest oil exporter, on Sunday said its investment plans in India are on track, noting that the Indian economy has the strength to recover from the adverse impact of the coronavirus crisis.

The fund now forecasts world gross domestic product to shrink 4.4 per cent this year, an improvement from the 4.9 per cent drop seen in June, according to the latest World Economic Outlook released this week.

Still, September was the seventh straight month that activity had contracted, the longest such stretch since a 10-month run to early 2014.

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.

Last month, the World Bank had saidIndia needs to continue with reforms to reverse the economic slowdown.

This was the Fed's last policy decision before the country's November 3 presidential election, delivering the winner a runway of low borrowing costs for years to come.