Domestic credit ratings agency on Monday cut its FY22 growth estimate for India to 9.5 per cent from the earlier 11 per cent due to the hit to private consumption and investments following the second wave of COVID-19. The rating agency joins other watchers who have cut their FY22 growth projections, with some pegging it … Read more
Nearly 96 per cent of the people surveyed under a food rights campaign in Maharashtra faced a drop in their earnings during the coronavirus-induced lockdown last year, claims a social body. Job losses and non-availability of casual work were the key reasons for this, and every fifth respondent was forced to go hungry because of … Read more
In line with economists’ fascination with alphabets, we see a ‘double barrel V’-shaped (one V over the other) recovery for India. The ‘inner’ smaller V involves normalising back to pre-pandemic activity levels. The ‘outer’ larger V involves cyclically recuperating from the slump in the business cycle that had started long before the virus took over, … Read more
By Sanjay Kapoor Almost eight months into the pandemic, we are more or less reconciled with a few aspects of ‘Covid life’. Economies with tighter social distancing are likely to experience more negative shocks in their domestic sector. Demand, as opposed to supply, is becoming a bigger concern, especially for sectors associated with discretionary activities. … Read more
LONDON: The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in OPEC. The pandemic drove down daily crude consumption by as much as a third earlier this year, at a time when the rise of electric vehicles and a shift to renewable energy sources were already … Read more