Skip to content
Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

Primary Menu Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

  • Home
  • Newswires
  • Politics & Society
  • The New Feudals
  • World View
  • Arts And Aesthetics
  • For The Record
  • About Us
  • Featured

Indian Economy Slows Rapidly In March Quarter

May 29, 2020 | Pratirodh Bureau

FILE PHOTO: A deserted view of the Yamuna Expressway that connects Delhi with Agra during a 21-day nationwide lockdown to slow the spreading of the coronavirus disease in Agra on April 7, 2020

Gross domestic product data out later on Friday is expected to show India’s economy grew at its slowest pace in at least two years in the March quarter, as the coronavirus pandemic weakened already declining consumer demand and private investment.

The median forecast from a Reuters poll of economists put annual economic growth at 2.1% in the March quarter, lower than 4.7% in the December quarter. Forecasts ranged between +4.5% and -1.5%.

Prime Minister Narendra Modi has maintained the lockdown ordered on March 25 to curb the spread of COVID-19 in the world’s second most populous country, though many restrictions were eased for manufacturing, transport and other services from May 18.

The full impact of the lockdown on manufacturing and services will become more apparent in the June quarter, with Goldman Sachs predicting a 45% contraction from a year ago.

Economists expect the fiscal year that began in April will see the worst economic contraction in four decades.

“Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world,” the rating agency S&P said on Thursday, cutting its 2020/21 forecast to a 5% contraction.

Weather forecasts for normal monsoon rains are in Indian farmers’ favour at least, giving hope that the rural sector can help support the millions of migrant workers who returned to their villages from the cities when the lockdown began.

The number of coronavirus affected people in India has crossed 158,000 with 4,531 deaths, with an average daily jump of 6,000 cases in the last one week.

Unlike some advanced economies, India’s stimulus package has largely focused on subsidised credit to small businesses and farmers, while direct fiscal stimulus was limited to around 1% of the GDP, economists said.

The Reserve Bank of India cut policy rates by 40 basis points earlier this month, and has reduced its key repo rate by 115 basis points since February.

Tags: coronavirus pandemic, COVID-19, economic contraction, gdp, gross domestic product, nationwide lockdown, Pratirodh, prime minister narendra modi

Continue Reading

Previous Mumbai DJ Swaps Deck For Doctor’s Scrubs To Fight Covid-19
Next Inside A COVID-19 Hospital, Doctors See No End In Sight

More Stories

  • Featured

Since Musk Took Over, Antisemitism On Twitter More Than Doubled

44 mins ago Pratirodh Bureau
  • Featured

‘Govt Is Scared Of Probe In Adani Case, Has No Reply To Rahul’s Questions’

17 hours ago Pratirodh Bureau
  • Featured

India’s Heat Action Plans Fail To Identify, Target Vulnerable Groups: Report

18 hours ago Pratirodh Bureau

Recent Posts

  • Since Musk Took Over, Antisemitism On Twitter More Than Doubled
  • ‘Govt Is Scared Of Probe In Adani Case, Has No Reply To Rahul’s Questions’
  • India’s Heat Action Plans Fail To Identify, Target Vulnerable Groups: Report
  • WAC Bans Transgender Women From Female Athletics Events
  • Kharge Slams BJP, Asks Why Are They Pained If Fugitives Criticised
  • Elgar Parishad Case Accused Dr Hany Babu To Get Honorary Doctorate
  • The Mythical Saraswati Is A Subterranean Flow, Posits New Study
  • Will Challenge ‘Erroneous’ Judgment Against Rahul Gandhi: Congress
  • Calls For ‘Green’ Ramadan Revive Islam’s Ethic Of Sustainability
  • Huge Data Breach: Details Of 16.8 Cr Citizens, Defence Staff Leaked
  • Will Rahul Gandhi Be Disqualified As MP Now?
  • ‘Ganga, Brahmaputra Flows To Reduce Due To Global Warming’
  • Iraq War’s Damage To Public Trust Continues To Have Consequences
  • Sikh Community In MP Cities Protests Against Pro-Khalistan Elements
  • ‘Rahul Must Be Allowed To Speak In Parliament, Talks Can Follow’
  • 26% Of World Lacks Clean Drinking Water, 46% Sanitation: UN
  • ‘Severe Consequences’ Of Further Warming In Himalayas: IPCC
  • NIA Arrests Kashmiri Journalist, Mufti Says This Is Misuse Of UAPA
  • BJP Is Just A Tenant, Not Owner Of Democracy: Congress
  • Livable Future Possible If Drastic Action Taken This Decade: IPCC Report

Search

Main Links

  • Home
  • Newswires
  • Politics & Society
  • The New Feudals
  • World View
  • Arts And Aesthetics
  • For The Record
  • About Us

Related Stroy

  • Featured

Since Musk Took Over, Antisemitism On Twitter More Than Doubled

44 mins ago Pratirodh Bureau
  • Featured

‘Govt Is Scared Of Probe In Adani Case, Has No Reply To Rahul’s Questions’

17 hours ago Pratirodh Bureau
  • Featured

India’s Heat Action Plans Fail To Identify, Target Vulnerable Groups: Report

18 hours ago Pratirodh Bureau
  • Featured

WAC Bans Transgender Women From Female Athletics Events

23 hours ago Pratirodh Bureau
  • Featured

Kharge Slams BJP, Asks Why Are They Pained If Fugitives Criticised

1 day ago Pratirodh Bureau

Recent Posts

  • Since Musk Took Over, Antisemitism On Twitter More Than Doubled
  • ‘Govt Is Scared Of Probe In Adani Case, Has No Reply To Rahul’s Questions’
  • India’s Heat Action Plans Fail To Identify, Target Vulnerable Groups: Report
  • WAC Bans Transgender Women From Female Athletics Events
  • Kharge Slams BJP, Asks Why Are They Pained If Fugitives Criticised
Copyright © All rights reserved. | CoverNews by AF themes.