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Indicators
'Indian consumer confidence hits record low in May 2021 amid COVID second wave': RBI survey
Consumer confidence has dipped to a new low as the second wave of Covid-19 pandemic continues to take a toll on lives and businesses across the country, a new survey by the Reserve Bank of India (RBI) shows. The current perception compared with one-year ago fell to a record 48.5 in May from 53.1 in March, shows the survey where 100 is the level that divides pessimism from optimism.
India slips two spots to rank 117 on 17 Sustainable Development Goals adopted as 2030 agenda: Report
India ranks below four South Asian countries -- Bhutan, Nepal, Sri Lanka and Bangladesh, it said. The overall SDG score of India is 61.9 out of 100.
India consumer confidence drops to record low, RBI survey shows
Respondents were also bleak about the year-ahead prospects, with the future expectations index dropping to 96.4 from 108.8 in the period under review, the RBI said.
Need to focus on both supply and demand for growth without inflation: KV Subramanian, CEA
Chief economic advisor KV Subramanian says there were signs of a pickup in economic activity and the recovery should gather pace by the third week of June, helped by the decline in Covid cases and faster vaccination. He estimates 700 million people will be inoculated by September.
Crisil fears large companies will benefit from RBI sops for contact-intensive sectors
Earlier in the day, the RBI relaxed the eligibility criteria for the restructuring window offered under the Resolution Framework 2.0 to Rs 50 crore. Earlier, only half of the rated companies were eligible for the package when the loan eligibility threshold was set at Rs 25 crore. It also launched the Rs 15,000-crore liquidity facility.
Services activity contracts in May after 8 months
The IHS Markit India Services PMI is compiled from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.
Country seen positive GDP growth because of investment: CEA KV Subramanian
India’s Chief Economic Adviser KV Subramanian on June 3 said that any country has progressed or growth because of the investment. Subramanian said, “We have seen positive growth in GDP. Even the construction and infrastructure spending has also been increased. Any country observes growth because of the investment.”
Economy hit by COVID-19 second wave to start recovering from July, says Chief Economic Advisor
"The second wave of COVID-19 has affected the momentum of economic recovery. We expect a recovery in the economy from July. Now, several states have started removing many restrictions and if we speed up the vaccination drive in our country, our economy will start recovering," Subramanian told ANI.
Onus of recovery on govt; expect over 9.5% GDP growth in FY22: Axis Bank chief economist
The Reserve Bank, which was the earliest to act with rate cuts and liquidity enhancement measures, has run its course now and will play a limited role in the recovery by ensuring stable financial conditions, Bhattacharya told reporters on the eve of the central bank's bi-monthly policy review.
Kerala, Himachal continue to be top performing states as NITI Aayog unveils SDG India Index 2020-21
In the third edition of the Niti Aayog's Sustainable Development Goals (SDG) India Index 2020-21 released on Thursday, Kerala has retained the top rank with a score of 75 while Bihar has been adjudged as the worst performer with a score of 52. NITI Aayog Vice Chairperson Dr Rajiv Kumar today launched the report titled, SDG India Index and Dashboard 2020-21: Partnerships in the Decade of Action.
India's unemployment rate at one year high in May; shoots up to 11.9% against 7.97% in April: CMIE
The unemployment rate had come down to 10.18% in June 2020 after touching the peak of 23% in April and May 2020 during the nationwide lockdown. As per the data, surge in unemployment rates has been driven by significant increase in urban unemployment rates at 14.73% in May compared to 9.78% in April and rural unemployment rate at 10.63% as against 7.13% in April 2021.
NITI Aayog unveils SDG India Index; Kerala, Himachal continue to be top performing states
As per the index, Kerala, Himachal Pradesh, Andhra Pradesh, Goa and Karnataka continue to be the top performing states while Bihar, Jharkhand, Assam, Arunachal Pradesh and Meghalaya were worst performers in the third edition (2021) of the index which was launched for the first time in 2018.
Lockdowns cause India's services sector to shrink for the first time in eight months in May
Lockdowns across the country to curb the second wave of Covid dampened demand, prompting firms to cut jobs at the fastest pace since October, according to Nikkei/IHS Markit Services Purchasing Managers' Index.
Coronavirus disaster leaves deep scars on India's economy
Economists are downgrading their estimates as a range of data - from the rate of cheques bouncing to the amount of mortgaged gold jewellery up for sale - shows the extent of the economic damage from a devastating second wave of the disease.
RBI's MPC begins deliberations amidst expectations of status-quo in policy rate
The fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday.
Trade deficit hits 8-month low in May as exports rise
India’s merchandise exports rose 67.39% year-on-year to $32.21 billion in May, while imports grew 68.54% to $38.53 billion. India’s goods exports grew 195.7% on year in April.
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