India has the potential to be a centre of vaccine production and will be able to ramp it up soon. Once vaccination reaches a critical mass, the economy will do well with pent up demand, RBI's Monetary Policy Committee (MPC) member Ashima Goyal said

A spate of downgrades last year had already left India's investment grade credit ratings hanging by a thread and the severity of the current virus wave is making S&P, Moody's and Fitch agitated again

Revising its projections for India's GDP growth, Moody's said that the second wave of COVID-19 is expected to be less disruptive than the first wave

The union finance ministry also said last week that the ongoing second wave of the Covid-19 pandemic will have a muted economic impact in comparison to the first wave. Major brokerages have, however, downgraded the Indian GDP projections for the current financial year

The government is targeting a deficit between revenue it earns and what it spends at 6.8 per cent of the gross domestic product (GDP) in FY22 (April 2021 to March 2022)

The Swiss brokerage has also warned that it will delay the economy reaching potential growth rate by an additional two-three years beyond 2022-23

Unsecured personal loans, credit cards, business banking, and MSME loans are emerging as new breeding ground for banks NPAs. How serious is the problem?

The agriculture reforms undertaken by the Indian government, which are facing opposition from farmers, can increase the country's economic growth if implementation risks are addressed, Fitch Ratings said on Thursday; Finance Minister Nirmala Sitharaman on Thursday said the industry is in recovery mode and several Budget proposals are on course, including disinvestment, despite a fresh wave of coronavirus infections and local lockdowns; The Delhi High Court on Thursday dismissed pleas by social media platforms, Facebook and WhatsApp, challenging India's competition regulator CCI's order directing a probe into WhatsApp's new privacy policy. Watch this and more news on News Blast. Also watch | Can India overtake China to become a factory to the world?

Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery

The SBI Research report pegs a loss of around Rs 82,000 crore for Maharashtra due to the current lockdow, whereas, it estimates a loss of Rs 21,712 crore for Madhya Pradesh and Rs 17,237 crore for Rajasthan

Stepping up coronavirus vaccination efforts instead of lockdowns would be the preferred alternative to impede the soaring second wave of the COVID-19 pandemic in India, SBI Research said in a report on Friday

India to expand COVID-19 vaccination but supplies run short, imports delayed Under fire for his handling of the world's worst COVID-19 surge, Indian Prime Minister Narendra Modi has opened vaccinations for all adults from next month, but supplies are already running short. Public forecasts by its only two vaccine producers show their total monthly output of 70-80 million doses will increase only in two months or more, though the number of people eligible for vaccines will double to an estim...

The rating agency said the Indian government remains reform-minded as evidenced by the passing of agricultural and labour market reforms.

India's rating balances a still strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector.

Westlife Development, which operates McDonald's restaurants in the southern and western region in India, on Friday said the quick-service brand's restaurants will operate 24/7 for contactless delivery from select stores in Mumbai; India's second wave of coronavirus infections poses heightened risks for the country's fragile economic recovery and its banks, Fitch Ratings said on Friday; Prince Philip, the husband of Britain's Queen Elizabeth II, passed away at the age of 99 on Friday. Watch this and more on News Blast.Also Read: COVID 'negative' certificate necessary for IPL audience in Wankhede

Fuel demand contracts 9.1% in FY21; first since 1998-99India's fuel demand contracted by a massive 9.1 per cent in the financial year ended March 31, the first in more than two decades, as a stringent lockdown imposed to curb the spread of the pandemic pummelled economic activity, government data showed on Friday. This is the first time that the fuel consumption has contracted since 1998-99, the most historical year for which government data is available. The demand contraction was led by di...

The government's borrowing cost has been beyond 6 per cent during the past three auctions -- something that got the government and the monetary authority worried

The second wave could dent the sluggish recovery in consumer and corporate confidence, and further, suppress banks' prospects for new business, the global credit rating agency said on Friday

Credit Suisse and Nomura were slower than rivals to cut their exposure to the fund. Global lenders that acted as brokers for Archegos may have to write down more $6 billion after the fund defaulted on payments

Recovery is broad based but at varying speed as the services sector in particular still operates with significant restrictions which look unlikely to be fully eased through the first half of FY22, CARE said