Economic Recovery

Economy has "some bright spots and a number of very dark stains" and government should target its spending "carefully", said Raghuram Rajan

Optimism and confidence are ruling high amongst Indian businesses as a significant percentage of industry leaders are positive about India's economic growth and expansion, despite the surge in Covid-19 cases, says a survey.

A United Nations report said on Thursday that the deadly wave of COVID-19 Delta variant stole 240,000 lives in India between April and June in 2021 and disrupted economic recovery, and warned that "similar episodes" could take place in the near term.

India is expected to grow at a rate of 6.5 per cent 2021-22, a fall from the 8.4 per cent GDP forecast in the previous financial year, the UN has said

After limping its way back from the Covid pandemic last year, the global economic recovery has been rattled by the Omicron variant's rapid rise.

Global forecasting firm Oxford Economics on Tuesday revised India's GDP (gross domestic product) growth forecast to 7.9 per cent from earlier 7.8 per cent for the current financial year 2021-22 (FY22), citing more durable recovery and higher Covid-19 vaccination rates.

Philippine President Rodrigo Duterte on Thursday signed a 5.024 trillion pesos ($98.45 billion) budget for next year, the Southeast Asian country's largest ever, as it aims to sustain economic recovery and manage COVID-19 outbreaks.

Gross non performing assets of banks may rise from 6.9 per cent in September 2021 to 9.5 per cent by September 2022 under severe stress scenario

India's economy was growing at a steady pace in November, a month that saw the omicron variant of coronavirus induce fresh concerns on recovery risks

The Indian economy grew at 8.4 per cent in the second quarter of the current fiscal, as against a growth of 20.1 per cent in the April-June quarter.

The brokerage said growth grew by 2 percentage points after the damage caused by the second wave of the COVID virus in mid-2021 but remains below the pre-pandemic trend

The new Omicron variant of Covid-19 could slow the global economic recovery, just as the Delta strain did, IMF chief Kristalina Georgieva said Friday.

The new Omicron variant of Covid-19 poses risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel restrictions in recent days, Moody's Investors Service has stated in its report.

"In 2021-22, GDP growth in Q1 was 20.1 percent on a previous year's Q1 growth of -24.4 percent. In Q2, the growth is reported as 8.4 percent on a previous year's Q2 growth of -7.4 percent," Chidambaram noted

Data was expected to show that India's economic recovery strengthened in the July-September quarter, helped by a pick-up in consumer spending, though the spread of the Omicron coronavirus variant raised fears for the future.

Economy has "some bright spots and a number of very dark stains" and government should target its spending "carefully", said Raghuram Rajan

Optimism and confidence are ruling high amongst Indian businesses as a significant percentage of industry leaders are positive about India's economic growth and expansion, despite the surge in Covid-19 cases, says a survey.

A United Nations report said on Thursday that the deadly wave of COVID-19 Delta variant stole 240,000 lives in India between April and June in 2021 and disrupted economic recovery, and warned that "similar episodes" could take place in the near term.

India is expected to grow at a rate of 6.5 per cent 2021-22, a fall from the 8.4 per cent GDP forecast in the previous financial year, the UN has said

After limping its way back from the Covid pandemic last year, the global economic recovery has been rattled by the Omicron variant's rapid rise.

Global forecasting firm Oxford Economics on Tuesday revised India's GDP (gross domestic product) growth forecast to 7.9 per cent from earlier 7.8 per cent for the current financial year 2021-22 (FY22), citing more durable recovery and higher Covid-19 vaccination rates.

Philippine President Rodrigo Duterte on Thursday signed a 5.024 trillion pesos ($98.45 billion) budget for next year, the Southeast Asian country's largest ever, as it aims to sustain economic recovery and manage COVID-19 outbreaks.

Gross non performing assets of banks may rise from 6.9 per cent in September 2021 to 9.5 per cent by September 2022 under severe stress scenario

India's economy was growing at a steady pace in November, a month that saw the omicron variant of coronavirus induce fresh concerns on recovery risks

The Indian economy grew at 8.4 per cent in the second quarter of the current fiscal, as against a growth of 20.1 per cent in the April-June quarter.

The brokerage said growth grew by 2 percentage points after the damage caused by the second wave of the COVID virus in mid-2021 but remains below the pre-pandemic trend

The new Omicron variant of Covid-19 could slow the global economic recovery, just as the Delta strain did, IMF chief Kristalina Georgieva said Friday.

The new Omicron variant of Covid-19 poses risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel restrictions in recent days, Moody's Investors Service has stated in its report.

"In 2021-22, GDP growth in Q1 was 20.1 percent on a previous year's Q1 growth of -24.4 percent. In Q2, the growth is reported as 8.4 percent on a previous year's Q2 growth of -7.4 percent," Chidambaram noted

Data was expected to show that India's economic recovery strengthened in the July-September quarter, helped by a pick-up in consumer spending, though the spread of the Omicron coronavirus variant raised fears for the future.