Coronavirus lockdown hits US economy

The lead European Union privacy regulator for most of big tech has put out its annual report which shows another major bump in complaints filed under the bloc’s updated data protection framework, underlining the ongoing appetite EU citizens have for applying their rights. But what the report doesn’t show is any firm enforcement of EU […]

Brave, a maker of a pro-privacy browser, has lodged complaints with the European Commission against 27 EU Member States for under resourcing their national data protection watchdogs. It’s asking the European Union’s executive body to launch an infringement procedure against Member State governments, and even refer them to the bloc’s top court, the European Court […]

BW Businessworld’s Manish Kumar Jha in a special edition on States' measures & economic policies for Covid-19, spoke with Kerala Chief Minister Pinarayi Vijayan over the phone. That fact that Kerala boosts of India’s finest public healthcare system & emerges the best state as per Health Index Report, prepared it to respond to pandemic proactively. Along, the critical steps like early health advisory and measures for welfare funds set out a positive message by Kerala’s leadership and to other states to emulate its model of health care & governance. But state has precarious fiscal deficit which is now targeted at Rs 29,295 crore (3% of GSDP) for 2020-21. CM tells all.

Moody's Investors Service said India’s Baa2 negative rating is unlikely to improve given the economic shock triggered by the coronavirus outbreak.However, the report noted that the COVID-19 crisis has only exacerbated the impact of some of India’s existing evils.The $2.7 trillion economy, the seventh largest in the world, is riddled by low household income, high government debt, and weak policy reforms and implementation.Moody's Investors Service said India’s Baa2 negative rating ⁠— while cutting growth estimate for the year to 0.2% ⁠— down from our previous forecast of 2.5%. is unlikely to improve given the economic shock triggered by the coronavirus outbreak. Over the next five years, India’s government debt could be as high as 81% of the country’s gross domestic product, it said.However,

Moody's projected India's economic growth for 2020-21 fiscal at 0 per cent, lower than 4.8 per cent estimated in 2019-20.

In a grim assessment, the Bank said the economy could shrink by nearly 30 per cent in the first half of this year before recovering some ground.

Follow up demonetisation by bringing land and real estate into the GST, suggests the survey

The opposition party also demanded that the Centre pays all pending dues to states to enable them to fight the outbreak, besides giving each of them special packages.

General fiscal deficit in FY19 expected to be 5.8 per cent of GDP, compared with 6.4 per cent the previous year

The budget reflects our continued affliction for numbers and the GDP growth rate. It also follows the Prime Minister's insistence that planners shoot for higher growth rates, especially on the back of an economy that has surprised everyone. But, asks Sudhirendar Sharma, will the juggling of numbers do it?

Stimulus must be in line with tax-GDP ratio: CEA Krishnamurthy Subramanian

Moody's slashes India's GDP growth in 2020 to 2.5 %

मूडीज (Moodys) इनवेस्टर्स सर्विस ने शुक्रवार को बताया कि फिस्कल ईयर 2021 में भारत की GDP ग्रोथ ज़ीरो फीसदी रह सकती है. हालांकि इसके बाद ग्रोथ में सुधार आएगा और फिस्कल ईयर 2022 में GDP की ग्रोथ 6.6 फीसदी रहने का अनुमान है.

Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues.

Punjab Chief Minister Amarinder Singh set up the task force to find ways for the state to gradually get out of the unprecedented lockdown that is still in place to fight the coronavirus pandemic.

Moody's Investors Service on Friday said the negative outlook on India's rating reflects increasing risks that GDP growth will remain significantly lower than in the past and partly hints at weaker policy effectiveness to address economic and institutional issues.

The ratings agency said it expected India to see no growth in financial year 2021 and bounce back to a 6.6% GDP growth in FY22.

The leading industry experts said that many of the patterns and trends that have emerged during the pandemic situation are going to stay and the telecom sector needs to get prepared for that.

Moody's Investors Service on Friday estimated its GDP forecast for FY21 at 0% and FY22 at 6.6%. Also, at the same time it said that the country's sovereign rating upgrade from 'Baa2 negative' is unlikely to be made in the near

Singapore : Palgrave Macmillan, 2020.

GDP growth

GDP

Industry declines; pulls down GDP growth

By comparison, the US had a 260% total-debt-to-GDP ratio in 2013 and Japan has 415%, according to the Financial Times.

Economic Survey growth figures as a "warning bell" as these came down from 9 to 5%, said Arun Jaitley

As India debates environmental health versus economic growth, Rachel Kyte, vice-president and special envoy for climate change at the World Bank Group, feels it is vital to think beyond basic GDP.

After keeping the country under a 40-day lockdown to arrest the spread of coronavirus, the government extended the lockdown till May 17 with a slew of relaxations to the unaffected areas in order to kick-start economic activity.

Moody's had, in November 2019, downgraded India's outlook to negative from stable on concerns of lower economic growth. The agency had, however, affirmed country's 'Baa2' rating. In its update to the November forecast released on Friday, the agency said India's credit profile is supported by its large and diverse economy, and stable domestic financing base.

The lockdown of economies around the world causes a much sharper decline in economic activity than in normal recessions, says World Bank chief economist south Asia region, Hans Timmer

Unlike '08, economic impact now is tied to the pandemic and health, so it is far harder to estimate damage.

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Interview with Co-founder, DAKSH & Samvad Partners

Analysts at Goldman Sachs expect the Indian economy to contract 0.4 per cent in FY21 versus consensus median 2.7 per cent

The rapid and widening spread of the Covid-19, deteriorating global economic outlook, falling oil prices, and financial market turmoil are creating a severe and extensive economic and financial shock

Repo rate now stands at 5.15%, lowest in nine years. A sixth cut this year would mark the longest streak of consecutive rate cuts since the current interest rate framework was introduced 20 years ago

Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.