economics News

Historic! Moody's downgrades India, forecasts bleak economic outlook

Historic! Moody's downgrades India, forecasts bleak economic outlook

New Delhi: Moody's Investor Service on Monday forecast a gloomy outlook on India's GDP for FY21. The sovereign credit rating agency in a first in as many as two decades has downgraded its outlook on India and accordingly India's sovereign ratings have been revised from 'Baa2' to 'Baa3'.  'Baa3'...

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Coronavirus Impact: Canadian GDP down by 11 percent

Coronavirus Impact: Canadian GDP down by 11 percent

Ottawa: Businesses nearly shutdown, industries at the cusp of a shutdown, empty streets, only-online schools and colleges owing to the Coronavirus scare have dealt a major blow to the Canadian economy.  Canadian authorities on Friday were quoted as saying that growth for the month of April slip...

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Sitharaman says Indian government worried on issue of hostile take-overs

Sitharaman says Indian government worried on issue of hostile take-overs

Mumbai: Finance Minister Nirmala Sitharaman has said that the government is focused on policies to avoid cheap take-overs.  In a covid struck, cheap take-overs, mergers and acquisitions are evident an Sitharaman said that the government was equally concerned about the developments in India Inc....

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Report finds Indian states lost 1.5 times more than Atmanirbhar Bharat package

Report finds Indian states lost 1.5 times more than Atmanirbhar Bharat package

Mumbai: Indian states may have collectively lost one and a half times more than the Atmanirbhar Bharat package announced by the government according to a report.  The SBI Ecowrap report published on Tuesday assesses state-wise loss for Indian states at Rs 30.3 lakh crores, whereas Atmanirbhar B...

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How Coronavirus will redefine Banking and Leadership

How Coronavirus will redefine Banking and Leadership

The world is in a crisis, a word JFK remarked at a 1959 convocation as being composed of two - one representing danger and the other opportunity. Cut to 2020 - China, the US President and a Crisis holds itself as a <i>Deja-Vu</i> moment placing the world on tenterhooks. Ironically, the 4...

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Andhra releases time-table of incentives for MSMEs, cab drivers and priests worth Rs 904 crores

Andhra releases time-table of incentives for MSMEs, cab drivers and priests worth Rs 904 crores

Rs 904 crores worth industrial incentives promised by The Andhra Pradesh state government to MSMEs will be released in tranches. The first tranche of the incentive for micro, small and medium enterprises is an amount of Rs 450 crores that will be cleared on Friday."On May 22, 1st installment of Rs 4...

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Australia says No to trade war, despite China's Barley and other trade antics

Australia says No to trade war, despite China's Barley and other trade antics

Canberra, Australia: Australia’s trade minister said Tuesday that his country does not want a trade war with China, but maintained Beijing had erred by imposing stiff tariffs on Australian barley in what is widely seen as punishment for advocating an investigation into the coronavirus pandemic.China...

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Loss for India's real estate from Coronavirus estimated at upwards of Rs 1 lakh crores

Loss for India's real estate from Coronavirus estimated at upwards of Rs 1 lakh crores

New Delhi: The consequent loss of COVID-19 pandemic outbreak to India's real estate sector is estimated to be Rs 1 lakh crore by the end of current financial year, according to a new report by global professional services firm KPMG released on Tuesday."Supporting the economic contribution through mo...

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Atmanirbhar is focused on supply, may not revive consumer demand says Crisil

Atmanirbhar is focused on supply, may not revive consumer demand says Crisil

Will the over Rs 20 lakh crores of Atmanirbhar package, the details of which were announced by Finance Minister Nirmala Sitharaman across five days last week, revive the economy left crippled in the aftermath of the coronavirus pandemic and lockdown?  There's no straight answer, but ratings age...

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Giving free debt will hurt India: Oxford prof on COVID-19 bailout

Giving free debt will hurt India: Oxford prof on COVID-19 bailout

New Delhi: The Indian governments plan is effectively to make free debt available to companies which is not a good idea, said University of Oxford Professor and Masters Union Master, Karthik Ramanna while making his observations on the country's Rs 20 lakh crore bailout package announced to fight th...

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