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Indian macroeconomic situation bleak, set to worsen if lockdown continues: Jean Dreze

Dreze further said that due to the country-wide lockdown, social unrest in many parts of India has already started. The country is under a 21-day lockdown as part of larger efforts to curb spreading of coronavirus infections.

Jobs destroyed worldwide as coronavirus sparks recession

Rising unemployment will intensify pressure on governments and central banks to speed up reforms.

'India's tourism sector may lose Rs 5 lakh cr, 4-5 cr jobs could be cut due to COVID-19'

Of the total losses, the organised sector in the industry -- branded hotels, tour operators, travel agencies which are the mainstay of the sector - may be hit the hardest with an estimated loss of around Rs 1.58 lakh crore, according to Confederation of Indian Industry estimates.

Fitch slashes India growth forecast to 30-year low of 2% for FY21

Fitch Ratings has slashed India's growth forecast for FY21 to a 30-yr low of 2%, from 5.1% projected earlier.

Covid fight is a balancing act for world's economies: World Bank India Chief

Junaid Kamal Ahmad talked about how the coronavirus impact is different from the financial meltdown of '08, saying, "what is really different is the financial shock was an attack on the demand side of the economy. Here it is a supply shock. It is a health shock."

ADB expects India GDP to slip to 4 pc in 2020-21; projects strong recovery next fiscal

India's economic growth for 2019-20 has been estimated at 5 per cent by the National Statistics Office (NSO). The Manila-headquartered agency said the growth rate of Indian economy is expected to be slow on weak global environment amid continued efforts to contain the novel coronavirus (COVID-19) outbreak in the country.

View: India can avoid devastation only if, carefully, economic activity is normalised and lockdown curbs removed

A 30-day lockdown would imply a maximum possible loss of $240 billion.

Manufacturing activity at 4-month low, PMI at 51.8, optimism low

The manufacturing Purchasing Managers’ Index (PMI) for India declined to 51.8 in March from 54.5 in February. A reading above 50 indicates expansion, while below it signals contraction.

V, L or ‘Nike Swoosh’? What the world after Covid will look like

The world is set for what could be the deepest recession since World War II.

March GST collections stand at Rs 97,597 crore

February was the fourth consecutive month when collections crossed Rs 1 lakh crore. Central GST mop-up for March stood at Rs 19,183 core as against Rs 20,569 crore in February.

India's fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions

India's fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions

Stating that weak economic activity will likely see revenue collection contract in 2020-21, Fitch Solutions said receipts may contract by 1 per cent from a growth of 11.8 per cent previously.

India’s budget under strain on day one of new fiscal year

India’s budget under strain on day one of new fiscal year

As India now conducts the world’s biggest lockdown, budget pressures are set to worsen.

Govt sticks to BE to borrow Rs 4.88 lakh cr in H1FY21

Govt sticks to BE to borrow Rs 4.88 lakh cr in H1FY21

The government said it will borrow Rs 4.88 lakh crore in the first half of FY21, sticking to the estimate in the budget presented before the coronavirus outbreak, and promised to do everything needed to meet the demands of the economy.

Fiscal deficit at 135% of Budget Estimates in February

Fiscal deficit at 135% of Budget Estimates in February

India's fiscal deficit at the end of February was 135.2% of the revised estimate for the fiscal year 2019-20, official data showed on Tuesday.

February core sector growth at 11-month high

February core sector growth at 11-month high

Buoyed by a rise in the output of coal, cement and electricity, India's eight infrastructure industries grew at an 11-month high in February, although the recovery is unlikely to be sustained because of the disruption caused by Covid-19.

World economy will go into recession with likely exception of India, China: United Nations

World economy will go into recession with likely exception of India, China: United Nations

UN's trade body, however, did not give a detailed explanation as to why and how India and China will be the exceptions as the world faces a recession and loss in global income that will impact developing countries. Further, given the deteriorating global conditions, fiscal and foreign exchange constraints are bound to tighten further over the course of the year.

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