Economic activity is slowing down after phase of quick recovery, Nomura data shows
The index has recorded a downtrend after a post-lockdown high of 82.3 in mid-September. The tracker was at 82.9 in the week ended March 22 before a drastic fall to 44.7 in April.
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If the current trend of moderation in cases is sustained, recovery could gather pace and yield a possible GDP upgrade — which would mean a smaller contraction in FY21 than forecast.
Business resumptions sustained in early October but resurging virus a risk to growth: Nomura
“A moderation in daily new infection cases and the government’s decision to ease lockdown restrictions from October 15 should further support activity in October,” Nomura said but cautioned that with the festive season and the Bihar elections approaching, the risk of virus cases resurging remains a risk to sequential growth momentum.
Witnessing 'green shoots' driven by rural India: JCB
"We have seen green shoots, positive recovery, but as we always remind ourselves we are still in the midst of the pandemic," JCB India CEO and Managing Director, Deepak Shetty, told reporters in an interaction.
Post-festival gloom: E-way bills, power demand, railway freight down
As on November 22, 40.7 million e-way bills were generated in the month, suggesting that the total for the month may fall well short of the record high of 64 million in October or even 57 million in September, as per the data trend from the Goods and Services Tax Network.
Economic activity up on pent-up demand, may not sustain: Icra
Multiple fast-paced indicators, including GST collections, have been showing a sharp recovery since October. "We caution that the spikes in production seen in the various sectors in October 2020, are an exaggeration of the true recovery on the ground, as they have been driven by a large component of pent-up demand that may not sustain after the festive period is over," Aditi Nayar said.
GDP contraction to improve to 'higher single digits' in Jul-Sept, says expert
The GDP contracted by 23.9 per cent in the June quarter due to strong lockdown measures and leading to expectations of the GDP growth being a negative 14 per cent for the full fiscal.
India's contracting economy rebooting from coronavirus blow
Dussehra, Diwali and Durga Puja celebrations that extend through the Christmas and New Year holidays are an occasion to splurge on big ticket items like gold, homes and cars as well as clothing, smartphones and electronics.
India will be back to high growth through reforms after overcoming pandemic: CEA
Subramanian pointed out that core sectors like cement, steel, railway freight and Information and Communication Technology were all "in positive territory" for the first time since July 2019.
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Economic disruption to deter Reserve Bank from quantifying FY21 growth forecast, say experts
The existing legislations mandate the RBI to come out with a growth and inflation forecast twice in an interval of six-months in the monetary policy report.