Indian economy on revival despite unsettling global developments, RBI paper says

Indian economy on revival despite unsettling global developments, RBI paper says

India has witnessed recovery in economic activity, striking a path that is diverging from global developments even as its rural demand slackening, Reserve Bank of India said in its monthly bulletin. The manufacturing and services remain in expansion with optimism on demand parameters and uptick in consumer and business confidence, RBI said in a note … Read more

Power consumption rises 4.5% to 110.34 billion units in December

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India’s power consumption grew by 4.5 per cent in December to 110.34 billion units (BU) over the same period a year ago, according to power ministry data. In December 2020, consumption was 105.62 BU, up from 101.08 BU in December 2019. Experts are of the view that power consumption as well as demand has grown … Read more

E-way bill generation slackens in November post festive season spur

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The pace of e-way bill generation slackened in the first half of November against the previous month, signalling a possible slowdown in demand and likely pointing to the fragility of a sharp recovery seen in the festive season. About 24.1 million e-way bills were generated in the first half, with the daily average at 1.72 … Read more

Exports rise for 11th month, up 43.3% in October

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Led by engineering goods, petroleum products and gems and jewellery, India’s merchandise exports increased for the eleventh consecutive month in October and grew 42.33% on year at $35.47 billion. Official data released on Monday showed a 62.48% rise in imports leaving a trade deficit of $19.9 billion compared to $9.15 billion and the 14-year high … Read more

Economic growth may rebound on rapid vaccine drive, infra spending: Rajiv Kumar

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The economic growth is expected to rebound on the back of rapid vaccinations, a recovering monsoon, thrust on infrastructure investments by the government and growth in exports, Niti Aayog vice-chairman Rajiv Kumar said, adding consumption is likely to recover in the third and fourth quarter of the fiscal. Kumar further said that despite downward revision … Read more

View: Economic activity back at pre-pandemic levels, but jobs recovery a long haul

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The economic news out of India is encouraging, with a swifter-than-expected recovery from the second wave. The Nomura India Business Resumption Index, which tracks the pace of business resumption, crossed a milestone in mid-August, rising above its pre-pandemic level of 100 for the first time since the pandemic began last year. However, despite the sharp … Read more

Covid 2nd wave to have more lasting damage on Indian economy, exports key for recovery: Moody’s Analytics

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Moody’s Analytics on Monday said that the second wave of the Covid-19 pandemic may have a more lasting damage on the Indian economy and exports will once again be the foundation for recovery. In its report titled ‘APAC Economic Outlook: The Roadblock’, it said that social distancing is weighing on the current quarter but economic … Read more

CEOs feel economy will recover swiftly, but Covid vaccine holds key

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The Indian economy is expected to recover swiftly from the impact of the second Covid-19 wave, but vaccination holds the key to mitigating the downside and lifting consumer sentiment, according to a poll of chief executives by industry body CII. “The deadly second wave has not affected much of the economic activities as the lockdowns … Read more

Downside risks to growth still persist amid uncertainty around Covid vaccine availability: D&B

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The downside risks to growth still persist in view of a possible second wave of COVID-19 and an uncertainty over vaccine availability, even though the latest data points suggest that economic activity has gathered pace, says a report. According to Dun & Bradstreet’s latest Economy Forecast, a second wave of infections, which can’t be ruled … Read more

Fresh stimulus to push economic activity: Niti Aayog vice-chairman Rajiv Kumar

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NEW DELHI: The fresh stimulus package announced by Finance Minister Nirmala Sitharaman to boost domestic demand will give a much-needed push to economic activity, Niti Aayog Vice-Chairman Rajiv Kumar said on Monday. Sitharaman announced a Rs 73,000 crore package, including advance payment of a part of wages to central government employees and cash in lieu … Read more