-The Indian Express Rapid spread of Covid-19 and inadequate spending by government could result in India suffering a permanent loss of Rs 30 lakh crore, which is roughly the size of the Union Budget for 2020-21 Dear Readers, This week started with several economists coming out with their revised GDP growth expectations for India in response to the official GDP growth data that was released on August 31. With the economy shrinking more...
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Explained: With better monsoon, what is the outlook for India’s farm sector? -Udit Misra
-The Indian Express More and better-distributed rainfall this year is likely to result in higher sowing, higher production, productivity and profitability for the agriculture sector. While it is clear that India’s broader economy will contract this year, it is also true that well-distributed rainfall has meant that the agriculture sector per se may be quite productive this year. A new report by CRISIL throws light on the prospects of the farm sector. Here’s...
More »MGNREGA average income doubled in April-July -Elizabeth Roche
-Livemint.com The April-July period typically sees 25% greater work execution (in terms of person-days) under the scheme compared with the rest of the fiscal, thereby aiding rural income, the CRISIL report said The average income per person per month under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) doubled to ₹1,000 in the first four months of this fiscal from ₹509 in the previous year, ratings and research agency CRISIL said...
More »How come companies have money for PM Cares fund, but not for their staff? -Vivek Kaul
-Newslaundry.com Any company in India wanting to do business without being disturbed needs to be in the good books of the government. In the post-Covid world, companies are looking to cut costs in order to survive. They have been doing so in various ways. Some of the popular ways in the Indian context are: 1) Cutting salaries of employees. 2) Putting any fresh recruitment on hold. 3) Putting increments on hold. 4) Putting variable payouts on...
More »Covid-19 pandemic could lead to 4 per cent loss of real GDP for India: CRISIL Research -Surabhi
-The Hindu Business Line Gross non-performing assets of banks could rise to 11 to 11.5 per cent this fiscal CRISIL Research has stated that the current coronavirus pandemic could lead to a four per cent permanent loss to real Indian gross domestic product (GDP) and said that more fiscal stimulus will be required. Most economies across the globe are unlikely to see normal conditions until 2022 due to the current coronavirus pandemic and...
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