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GDP numbers meet expectations, mild recovery likely in FY21

Monday, March 2, 2020, 11:57 AM

GDP numbers meet expectations, mild recovery likely in FY21

India's gross domestic product (GDP) growth numbers came on expected lines and the economy may continue to show signs of stress in the coming quarters in light of the outbreak of coronavirus, say experts. Government data released on February 28 showed India's gross domestic product (GDP) grew 4.7% in the October-December quarter of 2019-20 from 5.1% in Q2FY20 (revised upwards from 4.5% earlier).

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China posts weakest growth in 29 years as trade war bites

Saturday, January 18, 2020, 8:57 PM

China posts weakest growth in 29 years as trade war bites

China's economic-growth cooled to its weakest in nearly 30-years in 2019 amid a bruising trade-war with the US, and more stimulus is expected this year as Beijing tries to boost sluggish-investment and demand. But data also showed the world's second-largest economy ended the rough year on a somewhat firmer-note as a trade-truce revived business-confidence and earlier growth-boosting measures finally appeared to be taking hold.

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Lower Consumption, Less Credit Led To Decline Of Growth To 5%: World Bank

Thursday, January 9, 2020, 8:57 PM

Lower Consumption, Less Credit Led To Decline Of Growth To 5%: World Bank

The World Bank has projected a five per cent growth rate for India in the 2019-2020 fiscal, but said it was likely to recover to 5.8 per cent in the following financial year. The US' growth is forecast to slow to 1.8 per cent this year, reflecting the negative impact of earlier tariff increases and elevated uncertainty.

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Govt likely to cut spending by Rs 2 lakh crore in current fiscal: Report

Wednesday, January 8, 2020, 8:20 AM

Govt likely to cut spending by Rs 2 lakh crore in current fiscal: Report

India's government is likely to cut spending for the current fiscal year by as much as Rs 2 lakh-crore as it faces one of the biggest tax shortfalls in recent years, three government sources said. Asia's third-largest economy, which is growing at its slowest pace in over six years because of lack of private investment, could be hurt further if the government cuts spending.

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First advance estimates of GDP to be released tomorrow

Monday, January 6, 2020, 8:41 PM

First advance estimates of GDP to be released tomorrow

The government will release the first advance estimates of the GDP for FY20 on Tuesday at 5.30-pm. The estimates will be keenly watched for as the economic turbulence has taken a toll on growth numbers in the first and the second-quarter. The economic growth slowed to 4.5% in the second quarter. The figure stood at 5% for the first-quarter of the current fiscal.

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RBI slashes GDP growth forecast to 5%  deepest cut in a decade

Friday, December 6, 2019, 8:17 AM

RBI slashes GDP growth forecast to 5% deepest cut in a decade

While maintaining the status quo in its bi-monthly monetary policy review, the Reserve Bank of India on Thursday revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy. The central bank, however, kept the policy rates unchanged at 5.15 per cent and decided to main accommodative stance to support the economy.

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RBI throws ball back in govts court to boost growth: Analysts

Thursday, December 5, 2019, 8:36 PM

RBI throws ball back in govts court to boost growth: Analysts

The RBI kept its key lending rate on hold in a shock-decision on Thursday, despite a worrying slowdown in the country that prompted the central bank to sharply reduce its economic growth forecast to 5% for the year through March, Reuters reported. The central bank acknowledged that it does have room to cut-rates further, but said it was concerned about inflation in the near-term.

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Private sector activity rebounds in November, services output expands after 3 months

Wednesday, December 4, 2019, 8:33 PM

Private sector activity rebounds in November, services output expands after 3 months

Indian service providers signalled a moderate rebound in business activity during November, with the return to output growth accompanied by a renewed rise in new business intakes, faster job creation and strengthening business confidence, a private survey showed on Wednesday. Posting 52.7 in November from 49.2 in October, the IHS Markit India Services Business Activity Index signalled output-growth for the first-time in three months.

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Slumping growth opens the door for more RBI rate cuts

Monday, December 2, 2019, 7:40 AM

Slumping growth opens the door for more RBI rate cuts

India's deepening economic-slowdown is likely to throw open the door to more monetary-policy easing this week. The RBI will meet days after a report showed growth collapsed to 4.5% in the July-September quarter, first-time it's been below 5% since 2013. Led by Governor Shaktikanta Das, RBI already has cut interest rates by 135 basis-points in five moves this year, the most by any Asian-central-bank.

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Saturday, November 30, 2019, 7:39 AM

"Country Pushed Into A Coma": Congress Targets Centre On GDP Slump

Shortly after official data showed India's GDP slowing to 4.5% in the July-September quarter, the lowest recorded in six years, the Congress today accused the BJP-led central government of pushing the country's economy into a coma through its "divisive" policies. The reference to Nathuram Godse comes from a comment allegedly made about Mahatma Gandhi's assassin by BJP MP Pragya Thakur in Parliament yesterday.

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