Tag: Indian Economy

New Delhi: The COVID-19 pandemic is expected to hit the Indian economy with about $320 billion in terms of daily gross domestic product (GDP) loss after 40 days of nationwide lockdown, said a report. The daily GDP of India is estimated to be approximately $8 billion. The impact has been severe on the travel and […]

New Delhi: India should come out with a large enough stimulus package to revive demand, Nobel laureate Abhijit Banerjee said on Tuesday, asserting that putting cash in the hands of people would be the best way to boost the economy post lockdown. Banerjee, while talking to Congress leader Rahul Gandhi through video-conferencing, suggested giving money […]

New Delhi: Prime Minister Narendra Modi on Monday chaired a fresh round of consultation with chief ministers on ways to strengthen the COVID-19 containment strategy and stepping up of economic activities in a calibrated manner as the 54-day nationwide lockdown nears an end. The large-scale movement of migrant workers from urban to rural India and […]

New Delhi: Announcing an economic package to tide over the coronavirus crisis, Prime Minister Narendra Modi on Tuesday said the Indian economy should take a quantum jump, and not in incremental manner. Addressing the nation on Tuesday evening, Modi said that economy, infrastructure, demography and demand would be among the major features of India in […]

New Delhi: India will emerge stronger from multiple crises of economy, pandemic and super cyclone in the next 6-9 months, say industry leaders, based on the resilience shown by people, businesses and the government. The telecom and information technology will be key to survival and revival of lives and economy, said the business leaders as […]

New Delhi: Prime Minister Narendra Modi on Thursday said business activity in India is fast returning to normal levels with consumption and demand approaching pre-COVID levels as visible in macro data on power, fuel and other consumption. India faced a recession-like scenario after a national lockdown was imposed on March 25 to curb spread of […]

New Delhi: India needs foreign direct investments worth Rs 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector to accelerate the wheels of the COVID-hit economy, according to Union minister Nitin Gadkari. Emphasising that at this juncture Foreign Direct Investment (FDI) is the need […]

New Delhi: The Finance Ministry is swiftly implementing various schemes announced under the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package which is going to have a multiplier effect on the Indian economy, Minister of State for Finance Anurag Singh Thakur said on Tuesday. Emphasising that India’s resilience will sail the country through these testing […]

Mumbai: India’s economy is showing signs of getting back to normalcy, Reserve Bank of India Governor Shaktikanta Das said on Saturday. In a keynote address at the 7th SBI Banking and Economics Conclave, Das noted that medium term outlook still remains uncertain. “Despite the substantial impact of pandemic in our daily lives, the financial system […]

New Delhi: The ongoing pandemic has hit every sector of the Indian economy hard and the retail trade in the country has lost about Rs 15.5 lakh crore in the past 100 days. In a statement, the Confederation of All India Traders (CAIT) said that the traders across the country are highly depressed because of […]

Hyderabad: Describing former Prime Minister P V Narasimha Rao as a dedicated Congress leader, AICC President Sonia Gandhi on Friday said the grand old party takes pride in his accomplishments and contribution, even as another former Prime Minister Manmohan Singh praised him as a “great son” of this country. “Shri P V Narasimha Rao’s tenure […]

Washington: The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday. However, India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging […]

New Delhi: India’s economic recovery has “broadened and strengthened” in September from the pandemic-induced lows seen in April 2020, ratings agency ICRA said on Tuesday. ICRA said that as many as nine of the tracked 15 non-financial high frequency indicators recorded growth in September 2020, while five posted a narrower year-on-year (YoY) contraction in that […]

New Delhi: The Indian economy is getting back on track faster than expected as a timely lockdown and various relief measures announced by the government helped address issues faced by all sections of society and all economic sectors due to the COVID-19 pandemic, Prime Minister Narendra Modi has said. He also expressed confidence that the […]

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said the Indian economy is witnessing a strong recovery after a long and strict lockdown. Addressing a press conference to announce more stimulus measures to boost growth, she said macro-economic indicators are pointing towards recovery. COVID-19 active cases have declined from over 10 lakh to 4.89 lakh […]