10,705.75-93.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Lockdown, Day 66: Economy takes a deep dive

Add to this, the 60-day long lockdown period has led to a 38 per cent contraction in core sector output for the month of April .

ET Online|
Last Updated: May 29, 2020, 06.24 PM IST
0Comments
AFP
corona-3.5-afp
India's GDP slowed to 3.1 per cent in Q4 of FY20 as against 4.7 per cent in Q3. This is the lowest growth rate in 8 years so far in the current series. However, India reported a better than expected growth rate of 4.2% in FY20.

Add to this, the 2-month long lockdown has led to a 38 per cent contraction in core sector output for April . The data measures the productivity of 8 core industries which account for 40 per cent of India's index of industrial production.

Track this space for latest updates...




COUNT SO FAR
  • Rajasthan reports 91 new cases, tally rises to 8,158
  • Odisha reports 63 new cases; total rises to 1,723
  • Himachal Pradesh logs 291 cases
  • 30 new cases in Assam, total count 910
  • Manipur case count stands at 58
  • Delhi reports 1106 new cases, tally reaches 17,386
  • Karnataka registers 178 new cases, tally at 2,711
  • Uttarakhand reports 102 new cases, total at 602
  • Andhra count rises to 2,874 with 33 new cases
  • Puducherry case count stands at 35
  • Nagaland reports 7 new cases, total rises to 25

World India
Tally Toll Tally Toll
5,803,416 359,791 165,799 4,704



LIFE UNDER LOCKDOWN
  • Travel resumption Day 4: 494 domestic flights, 38,078 passengers
  • Quarantine must for rail passengers with symptoms in MP
  • Two floors of Parliament sealed after official tests positive
  • Decision to open shops in malls soon
  • ITC Hotels partners with Swiggy to offer dining options to customers


BUSINESS AND ECONOMY
  • Sensex takes winning run to 3rd day, rises 224 points
  • Rupee settles 14 paise higher at 75.62 against US dollar
  • Home Credit India lays off 1800 employees
  • Motilal Oswal announces bonuses and promotions amid outbreak
  • Indian IT eyes captives as global cos rejig operations
  • Farm wages doubled in many agricultural districts
  • Economy needs support from PSBs: Union Bank

GLOBAL ECONOMY
  • Renault announces nearly 15,000 job losses worldwide
  • Volkswagen invests 2 bn euros in Chinese EV sector
  • COVID-19 could cause USD 8.5 trillion loss in global output: UN Sec Gen
  • British lender Nationwide reports 44% profit slump
  • Japan backs nearly a third of $6.6 billion loans to Nissan
  • Finland in recession after Q1 GDP shrinks 0.9% Q/Q
  • Italy Q1 GDP sharply revised down to -5.3% q/q


AROUND THE WORLD
  • US death toll at 101,573, cases at 1,720,613
  • Thailand reports 11 new cases, total stands at 3,076
  • Germany's confirmed cases rise by 741 to 180,458
  • Cases in Pakistan cross 64,000-mark, death toll hits 1,317
  • Singapore cases reach 33,860
  • Russia has highest daily spike of 232 deaths
  • Indonesia reports 678 new cases, 24 deaths

DEBATE THIS
Do you think India messed up the lockdown? Tell us here
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Also Read

The results are in for the sharing economy. They are ugly.

Agriculture to rack up gains as pandemic roils the economy

View: While rebooting the economy let the focus be on sustainability

'Commercial coal mining to stimulate economy; catalyse path toward $5 trillion economy'

Economy to shrink despite stimulus: Economists

Indian economy in deep trouble: S&P

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service