Goldman Sachs expects India's real GDP growth to contract 14.8 per cent in FY21 before bouncing back strongly to 27.1 per cent on YoY basis in Q2 2021 (April-June 2021) due to favorable base effects

In its September update to the Global Economic Outlook (GEO), Fitch Ratings cut its 2020 GDP forecast for emerging markets, excluding China, to (-)5.7 per cent, from (-)4.7 per cent estimated in June

Domestic rating agency India Ratings and Research (Ind-Ra) expects India's GDP to rebound and expand at 9.9 per cent year-on-year (Y-o-Y) in FY22 primarily owing to the weak base of FY21

This comes at a time when Fitch has revised upwards, although moderately, its prediction for global GDP to 4.4 per cent now from the earlier estimated fall of 4.6 per cent

Quarter-on-quarter, the economy contracted 7.9%, according to the revised figures, down from 7.8 per cent in the preliminary data. The annual rate shows what the number would have been if continued for a year

India Stock Market Highlights Today: Reliance Industries, Sun Pharma, Infosys, Axis Bank and ICICI Bank were among the top gainers today. On the other hand, PowerGrid, followed by NTPC, Nestle India, ONGC, L&T, HDFC and M&M were the top losers

Rangarajan and India EY India chief policy advisor D K Srivastava in a paper titled 'India's Growth Prospects and Policy Options: Emerging from the Pandemic's Shadow' stated that the story of the Indian economy as it unfolds under the impact of COVID-19 is disquieting

Former finance minister P Chidambaram says the government should also increase spending on infrastructural projects and start massive public works programmes to boost economic activity

As part of his video series on the economy, the former Congress president alleged that the NDA government has kept four different tax slabs to help those big industrialists with means and contacts to change the taxes under the GST regime

Russia's COVID-19 vaccine safe, produces immune response: LancetRussia's potential coronavirus vaccine, Sputnik V, approved in the country last month, induced an antibody response in all participants with no serious side effects, according to the first peer-reviewed data on studies of the project. The vaccine produced a response in T-cells, a type of white blood cells that helps the immune system combat any infection, according to the preliminary results from phase 1 and phase 2 trials as pu...

Decline in India's GDP during June quarter was a result of stringent lockdown imposed across the country, claimed Finance Ministry in Economic Review report for August

Indian economy, which saw one of the most stringent lockdowns, has shrunk the most amongst major economies on not just quarterly basis but also annualised basis

Sectors like airlines, hotels, retail, automotive, consumer durables which represent discretionary spending were significantly impacted, while FMCG and consumer goods were relatively less impacted

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The downward revision in Indian economy's annual forecast comes a day after official data showed the country's GDP shrunk by a record 23.9 per cent in the April-June quarter

Gita Gopinath, Chief Economist of the International Monetary Fund (IMF) has confirmed that the Indian economy may have contracted the most among the G-20 peers in the April-June quarter (25.6 per cent) of FY21

Even as the services Purchasing Managers'Index (PMI) jumped to 41.8 in August from July's 34.2, it continued to remain in the contraction zone

Amid all gloom and doom around mass lay-offs, top 30 Sensex firms registered 5.2 per cent increase in their combined salary expenses in the June quarter of the current fiscal, on a yearly basis

Under restructuring, moratorium should be the last resort as it adds to your interest burden; increasing tenure or reducing EMI could be better options

As per the SBI Ecowrap, all the remaining three quarters will see negative real growth, while July-September quarter is likely to witness decline in double digits