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Indian economy contracted by record 7.3pc in 2020-21

MUMBAI: India's economy contracted 7.3 percent in 2020-21, official data showed Monday, its worst recession since...

Published 01 Jun, 2021 04:59am

Business & Finance

Indian economy contracted by record 7.3pc in 2020-21

In a recent report, British financial services firm Barclays pegged the economic cost of India's second wave at $74 billion, or 2.4 percent of GDP.

Published 31 May, 2021 08:29pm

World

Coronavirus curbs in India disrupt supply chains, stoke economy worries

Many Indian states impose curbs to tackle second wave.
Raw material delays, fears over labour hit businesses.
Economists flag risks to India's economic growth.

Published 15 Apr, 2021 04:15pm

World

Pandemic pushes 32mn Indians out of middle class, says Pew Research

India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the COVID-19 downturn.
In January last year, the World Bank forecast almost the same level of economic growth for India and China, at 5.8% and 5.9% respectively, in 2020.

Published 18 Mar, 2021 07:38pm

World

India's January inflation eases as food prices falls sharply

January's annual retail inflation was 4.06%, down from 4.59% in December to the lowest since September 2019.
Retail food prices, which comprise nearly half of India's inflation basket, increased 1.89% in January from a year earlier, against 3.41% in December.

Published 12 Feb, 2021 08:34pm

World

India's January inflation eases to 4.06pc y/y

Analysts in a Reuters poll had predicted an annual inflation at 4.45% for the month.

Published 12 Feb, 2021 05:45pm

World

India to proceed soon with 'cash for clunkers' scheme to boost car sales

"This will help in encouraging fuel efficient, environment friendly vehicles, thereby reducing vehicular pollution and oil import bill," Sitharaman said.
Around 10% of the 3.7 million trucks and 5% of the 5.2 million cars on Indian roads could be eligible for voluntary scrapping.

Updated 01 Feb, 2021 08:34pm

World

India spends big to revive pandemic-hit economy

The government plans to borrow an additional US$1.1 billion to fund the deficit, she added.

Published 01 Feb, 2021 04:54pm

World

India urges frontline workers not to refuse vaccines as targets missed

India vaccinates 631,417 frontline workers in four days.
States miss vaccination targets due to hesitancy, app glitch.

Published 19 Jan, 2021 09:26pm

World

Indian govt, farmers fail to break deadlock on controversial laws

Tens of thousands of farmers have been camped on the outskirts of the capital New Delhi for over a month.
The government has constantly said that if the unions give any other option besides repeal, then the government will consider them.

Published 08 Jan, 2021 09:12pm

Business & Finance

India Economy set to contract 7.7pc, biggest decline since 1952

The Indian Gross Domestic Product (GDP) will shrink by 7.7pc in the financial year ending March 2021, which is higher than the earlier 7.5pc decline forecasted forecast by the central bank of India.

Published 08 Jan, 2021 10:25am

World

India's current account surplus shrinks in latest quarter

The surplus stood at 2.4% of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1% of GDP.
The current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter.

Published 30 Dec, 2020 07:00pm

World

High food prices hurting India's poor, pain to persist

The high prices are a particular cause of concern for India's hundreds of millions of poor people.
Food items such as onions, potatoes, eggs, meat and tomatoes have a nearly 46% weight in India's retail inflation basket.

Published 13 Nov, 2020 07:44pm