India Economy

India's Economy Accelerates In September As Animal Spirits Soar

Business | Anirban Nag, Bloomberg | Wednesday October 28, 2020

Manufacturing activity was a bright spot, with the purchasing managers index rising to 56.8 -- the highest reading since January 2012 -- on the back of a sharp expansion in new work orders, according to IHS Markit.

India, 4th Most Powerful in Asia, Cedes Strategic Ground To China: Report

India News | Kristine Servando, Bloomberg | Monday October 19, 2020

China is closing in on the US as the most powerful country influencing the Asia-Pacific, as America's handling of the Covid-19 pandemic tarnishes its reputation, a study showed.

India May Have "Crossed Coronavirus Caseload Peak": Finance Ministry

India News | Reported by Himanshu Shekhar Mishra, Edited by Swati Bhasin | Monday October 5, 2020

India may have "crossed the peak of coronavirus caseload", the Finance Ministry has said in its September economic review report, stressing that "consequent demand resurgence is palpable in many sectors" as the country eases restrictions that were put in place to check the spread of virus.

India's Gen Z Risks Losing Out On Formal Jobs In Covid Crisis: Study

India News | Vrishti Beniwal, Bloomberg | Tuesday September 1, 2020

India has been struggling with an unemployment problem and the coronavirus pandemic is making it even more difficult for its youngest workers to earn a decent living, shows an analysis by the London School of Economics.

What GDP At -24%, Worst Among Major Economies, Means For India

Business | Vrishti Beniwal and Anirban Nag, Bloomberg | Tuesday September 1, 2020

Gross domestic product shrank 23.9 per cent in the three months to June from a year earlier, the Statistics Ministry said in a report Monday.

Difficult To Gauge Extent Of Economic Disruption Under Lockdowns: Report

Business | Vrishti Beniwal, Bloomberg | Friday August 28, 2020

Forecasts for GDP in the quarter through June range from a contraction of 15 per cent to a decline of 25.9 per cent, with a median estimate of -19.2 per cent.

Prakash Javadekar Should Stop Polluting Country's Politics With Harsh Words: Kapil Sibal

India News | Press Trust of India | Wednesday July 22, 2020

Congress leader Kapil Sibal on Tuesday hit back at Union minister Prakash Javadekar for his attack on Rahul Gandhi and said the environment minister should stop polluting the country's politics with his harsh words and instead focus on better governance.

India's Economic Recovery Started From June, Says SBI Chairman

Business | Press Trust of India | Friday July 10, 2020

There is a need to wait for three to four months to see the trend of the recovery, SBI Chairman Rajnish Kumar said at a webinar

Indians Pawn Gold For Loans As Borrowing From Banks Becomes Tougher

Business | Reuters | Wednesday June 10, 2020

Gold-backed loans are becoming more popular with banks, which tend to consider them safer than other unsecured borrowing

COVID-19 Crisis: Sun Pharma Testing Plant-Based Drug As Potential Treatment

Business | Reuters | Friday June 5, 2020

Drug makers around the world are rushing to develop a treatment or vaccine for the fast-spreading novel coronavirus that has killed over 3,90,000 people and ravaged financial markets.

India's Fiscal Deficit Widens To 4.59% Of GDP

Business | Reuters | Friday May 29, 2020

India ended the year with a fiscal deficit of 4.59 per cent of gross domestic product, against the target of 3.8 per cent.

Goldman Sees Worst India Recession With 45% Second Quarter Slump

Business | Malcolm Scott, Bloomberg | Monday May 18, 2020

Gross domestic product will contract by an annualized 45% in the second quarter from the prior three months.

India Ratings Cuts 2020-21 GDP Growth Forecast To 1.9%, Lowest In 29 Years

Business | Press Trust of India | Monday April 27, 2020

India Ratings said its growth projection is based on the assumption that the partial lockdown will continue till mid-May 2020.

COVID-19 Lockdown May Have Cost Rs 7 Lakh Crore To India Economy: Experts

India News | Press Trust of India | Monday April 13, 2020

The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.

Desperate For Some Work, Any Money: Plight Of Migrant Workers In Cities

India News | Anirban Nag, Bloomberg | Tuesday April 7, 2020

Chandrakant Thakur ekes out a living by zooming around Mumbai on his beaten up scooter dodging pedestrians, street dwellers, cars and sometimes cows to deliver meals.