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New Delhi: Indian economy is expected to incur an additional $70 billion burden (or 1.9 per cent of the country’s GDP) in FY23 as compared to the current fiscal at an average crude price of $120 per barrel, said brokerage house Kotak Securities. Steep crude prices will pose stiff challenges in the form of higher […]
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Mumbai: Led by the general government debt, the country’s non-financial sector debt grew 11.9 per cent year-on-year to Rs 371 lakh crore, or 170.2 per cent of GDP, in the September 2021 quarter, even as the indebtedness of the households declined marginally, according to a report. However, this is lower than the previous fiscal, when […]
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Hyderabad: Two years of sustained pressure on healthcare infrastructure due to three successive Covid waves had raised a lot of expectations from the union Budget among public health specialists. However, the overall reaction from industry leaders in healthcare towards the Budget has been a mixed bag. A 10 per cent increase in allocation to health […]
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Visakhapatnam: The Praja Arogya Vedika affiliated to Jan Swasthya Abhiyan has urged the union Minister of Finance Nirmala Sitharaman to allocate a minimum of three per cent of the GDP in the budget to health care so that India would become world no. 1 number one in providing quality health care to the citizens. In […]
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New Delhi: India’s economy is estimated to clock a growth of 9.2 per cent in terms of real GDP for FY22, official data showed on Friday. In 2020-21, India’s economy had contracted by (-)7.3 per cent. On Friday, the First Advance Estimates of National Income for financial year 2021-22, estimated that ‘Real GDP’ or ‘GDP […]
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New Delhi: Union Minister of Home Affairs and Cooperation Amit Shah said on Friday that India is likely to become the fastest growing economy in the world in the current financial year. “We are reaching the pre-COVID levels. July to September GDP number has been at 8.4 per cent and I think in the year […]
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The move to open the doors to foreign tourists through free visas, for the first time in one-and-a-half years, is a welcome development as it is expected to revive tourism, hospitality, and aviation sectors, the worst affected during the pandemic. The steady decline in the fresh Covid-19 cases, coupled with the vaccination drive gaining momentum, […]
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By JR Janumpalli The buzzword everywhere is development and distribution of wealth to the people. It is more strident in developing and poor countries. In India, we hear it day in and day out. But we seldom know if it is national income, income of household, personal income or its distribution among the people which […]
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The latest data on the first quarter of the current financial year 2021-22 shows a big jump in the gross domestic product (GDP), compared with the corresponding period last year, but it may not be a true reflection of the country’s economic recovery process. This is because the base for comparison is very low, set […]
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The index no longer captures the economy or its constituents effectively. It may no longer be the barometer of the Indian economy, Dr Vikas Singh, president, Crux Management Services tells Y V Phani Raj in an interview. Excerpts
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"MSME sector had seen demand and supply equations change due to Covid. Several of them had cut their operations and closed," said Naveen Agarwal, partner of Ernst & Young
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The fears over the possible third wave of the pandemic, coupled with growing unemployment, have created a situation where expectations of a quick economic recovery need to be tempered
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The report said that although growth is projected at 8.3 per cent in 2021 for India, this masks significant expected economic damage from Covid's second wave.
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The campaigns come with lively promotional videos running in Spanish and English that highlight some of the unique attractions of each city.
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GDP growth in the current fiscal was estimated to be in double digits initially, but a severe second wave of pandemic has led to various agencies cut growth projections.
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Flagging low innoculation rate, it said faster vaccination progress will be paramount in restricting economic losses to the current quarter.
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"Due to the ferocious second Covid wave, we have revised down our real GDP growth forecasts. Compared with our Mar'21 forecast of 30 per cent YoY, we now expect real GDP growth of 21 per cent YoY in 1QFY22, with some downward revision in 2QFY22 as well,"
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CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22.
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Last week, the Reserve Bank of India (RBI) had projected real GDP growth at 9.5 per cent in 2021-22.
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The association also stressed upon the need for immediate and appropriate measures by authorities to control further damage.