COVID-19 may set back Indian banks’ recovery by years: S&P

NEW DELHI : The COVID-19 pandemic might set again the restoration of India’s banking sector by years, which might hit credit score flows and, in the end, the economic system, S&P International Scores stated on Tuesday. The US-based score company expects non-performing loans in Indian banks will hit a recent excessive, elevating credit score prices, …

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Indian economy in deep trouble, growth to contract by 5% this fiscal: S&P

NEW DELHI : S&P World Scores has mentioned that Indian economic system is in serious trouble with development anticipated to contract by 5% this fiscal. “India’s economic system is in serious trouble. Difficulties in containing the virus, an anemic coverage response, and underlying vulnerabilities, particularly throughout the monetary sector, are main us to count on …

Read moreIndian economy in deep trouble, growth to contract by 5% this fiscal: S&P

Green  shoots visible as nation opens up, says PM Modi

Addressing 21 chief ministers and lieutenant governors of Union territories on day one in every of a two-day assembly on Tuesday, Modi stated the expertise of the primary two weeks of Unlock 1.zero will assist the Union and state governments craft methods for the long run. “With the steps taken in the previous few weeks, …

Read moreGreen  shoots visible as nation opens up, says PM Modi

Economy to shrink 5% this year, fiscal stimulus not enough to support growth

NEW DELHI : S&P World Scores on Monday mentioned Indian economic system will shrink 5 per cent within the present fiscal, saying the fiscal stimulus value 1.2 per cent of GDP won’t be sufficient to offer vital development assist. In a report on rising markets titled ‘Monetary Circumstances Replicate Optimism, Lockdown Fatigue Emerges’, S&P mentioned …

Read moreEconomy to shrink 5% this year, fiscal stimulus not enough to support growth

India set for deepest recession yet in FY21, warn economists

New Delhi: Skilled forecasters veered in direction of a consensus that India’s economic system will face its worst recession in 40 years, contracting by at the very least 5% this fiscal, a day earlier than the statistics division releases the March quarter GDP print, which is able to partially mirror the unfolding affect of the …

Read moreIndia set for deepest recession yet in FY21, warn economists