Economy

Airlines not structured to bear shock Indian aviation sector is projected to suffer US$3.3-$3.6 billion loss in the first quarter of the next financial year if flight services are grounded till June-end as part of the suspended operation of commercial...

Sharp downturn in manufacturing Depending on the duration of the lockdowns that have been imposed, ICRA expects Indian GDP growth to range from 4.7% to 5.2% in FY2021 (4.7%E for FY2020). Projecting this on 25 Mar 2020, ICRA said it...

MHCV segment hit by cut in investments Domestic non-banking finance companies (NBFCs), that had hitherto seen high disbursements towards new Medium & Heavy Commercial Vehicle (MHCV) segment, have witnessed a sharp contraction in disbursements in FY2020 following overall decline in...

Industries await further relief measures FICCI and ASSOCHAM welcomed the Government’s tax relief announced on 24 Mar 2020 by Finance Minister Nirmala Sitharaman, especially the halting the IBC procedure for six months "FICCI welcomes the relief measures announced by the...

Taxes adjusted for businesses Finance and Corporate Affairs Minister Niramla Sitharaman announced several important relief measures taken by the Government in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press...

Call on LIC to infuse liquidity into NBFCs Noting the painful impact of coronavirus on global economies, the ASSOCHAM has sought a blanket year-long moratorium by Indian banks on debt repayment both for corporates and individuals. It has also called...

Implement: Rs.102 lakh crore NIP now The PHD Chamber President Dr D K Aggarwal has suggested a seven-prong strategy to mitigate the impact of coronavirus on India’s trade and industry. Firstly, as there is a drastic fall in the business...

Saraf concern about likely order cancellation The Indian export sector has started feeling the pinch with many requests from buyers to hold back shipments till further instructions, noted FIEO President Sharad Kumaar Saraf who fears force majeure or cancellation. “We...

Goyal updates on export enhancing schemes India’s merchandise export has increased to US$330.07 billion in 2018-19, up 8.75% from US$303.53 billion in 2017-18 amidst challenges from slower global economies and financial crisis, said Commerce and Industry Minister Piyush Goyal on...

Significant economic fallout from COVID-19 Moody's Investors Service has lowered India's GDP growth forecast for 2020 calendar year to 5.3%, on coronavirus implications on the economy. This is the second downgrade of Indian economy. The rating agency had projected a...