"indian-economy"

Hyderabad: Just seven years into existence, Telangana, rising from being a parched poverty-ridden region, has emerged as the fourth largest contributor State to the country’s economy, says the Reserve Bank of India’s Handbook of Statistics on the Indian Economy 2020-21. The report said the Net State Value Added (NSVA) by Telangana at current prices to […]

Income inequality, poverty and unemployment have deepened and the pandemic has accentuated them further

Quoting the World Investment Report 2021, the Finance Minister said FDI inflows into India rose by 25.4 per cent to reach USD 64 billion in 2020

Although a solid increase in aggregate demand may take some time

"India will emerge as one of the largest global markets, both in terms of consumption size and market cap," he added

Asked when private investments will pick up, Niti Aayog vice chairman Rajiv Kumar said in some sectors like steel, cement and real estate, significant investment in capacity expansion is happening already.

Finance Ministry report suggested that maintaining a fast pace of vaccination and plugging the lags in the healthcare infra would be the most sustainable stimulus for economic recovery

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.

Flagging low innoculation rate, it said faster vaccination progress will be paramount in restricting economic losses to the current quarter.

According to an assessment by the Reserve Bank, the second wave has cost the nation about Rs 2 lakh crore in terms of output lost.

CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22.

Crisil said that the second Covid wave has thrown cold water over the Indian economy that was beginning to warm up after witnessing the most severe contraction since Independence.

The government must lead the investment cycle but focus on completing the several projects that are underway and not start new ones.

In its report, 'Asian Development Outlook (ADO) 2021', the ADB also noted that the recent surge in Covid-19 cases may put this recovery at risk.

Moody's had bettered India's growth projection for the current fiscal year, which began on April 1, to 13.7 percent as economic activity gathered pace.

The report noted that India's PMI Manufacturing Index of 55.4 in March indicated some loss of momentum compared to February.

The Niti Aayog Vice-Chairman also noted that the Indian economy is now surging towards a recovery. 

"India is already looking at 'V-shaped' recovery. Along with the green shoots in various sectors, in the month of February, FPI inflows were Rs 25,787 crore," Thakur said.

The government must address societal disquiet for the economic recovery to be equitable

Likewise, the NSE barometer Nifty settled with a gain of 232.40 points or 1.60 per cent at 14,761.55.