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

1st Quarter GDP Growth Likely To Be Weakest Since 2012

May 26, 2020 | Pratirodh Bureau

FILE PHOTO: Migrant labourers sit on a handcart as they wait for work at a wholesale market in the old quarters of Delhi on October 10, 2019

India’s economy is likely to have expanded at its slowest pace in at least eight years in the January-March quarter, partly as a result of the coronavirus clampdown, a Reuters poll predicted.

Asia’s third-largest economy began slowing last year, but a countrywide lockdown implemented by Prime Minister Narendra Modi on March 25 halted economic activity completely.

“Activity in January and February was strong, but the slowdown in March is likely to have largely offset those gains,” Aayushi Chaudhary, an economist at HSBC in Mumbai, said.

The poll of 52 economists, taken May 20-25, indicated India’s economy grew at 2.1% in the March quarter from a year ago, its weakest since comparable records began in early 2012, and sharply slower than 4.7% in the prior three months.

Forecasts for gross domestic product (GDP) data, due to be released on May 29 at 1200 GMT, ranged between +4.5% and -1.5%, underscoring the widespread uncertainty on the impact of the coronavirus on the economy at that stage.

While only six economists in the poll forecast a contraction during the first quarter, leading indicators for March already released have signalled a significant hit to GDP in January-March.

“Given the unprecedented collapse in activity in late March after the lockdown started, we think the economy will have contracted last quarter,” Shilan Shah, senior India economist at Capital Economics in Singapore, said.

“A prolonged period of restrictions, along with limited financial support means that India’s economy will contract this year for the first time in over four decades,” Shah added.

Policymakers have stepped up fiscal and monetary stimulus in response, but several economists said these would at best boost credit availability.

“The government’s latest stimulus package will serve only to cushion the blow over the long run, rather than help fill the shortfall in demand in the near term,” said Freya Beamish, chief Asia economist at Pantheon Macroeconomics.

“The extension of India’s lockdown until the end of May all but guarantees an unprecedented economic recession.”

Tags: coronavirus, coronavirus clampdown, credit availability, Indian economy, Pratirodh, prime minister narendra modi, unprecedented economic recession

Continue Reading

Previous India Air Travel Restart Hits Chaos & Cancellations
Next WHO Warns Of “2nd Peak” In Areas Where Infections Declining

More Stories

  • Featured

Farmers’ Union Wants Govt To Start Vax Centres At Protest Sites

2 hours ago Pratirodh Bureau
  • Featured

Memorial For Farmers Who Died During Protests

2 hours ago Pratirodh Bureau
  • Featured

Mumbai’s Famed Lunchmen Struggle As Covid Hits Trade

8 hours ago Pratirodh Bureau

Recent Posts

  • Farmers’ Union Wants Govt To Start Vax Centres At Protest Sites
  • Memorial For Farmers Who Died During Protests
  • Mumbai’s Famed Lunchmen Struggle As Covid Hits Trade
  • ‘Strong Evidence’ Covid Mainly Spreads Through Air: Lancet
  • Case Against Mamata For ‘Instigating’ People In Bengal
  • Temp Structures At Farmers’ Protest Site Damaged In Fire
  • Kumbh: Sect Announces End After Many Seers Test Covid Positive
  • Two To A Bed In Delhi Hospital As India’s Covid Crisis Spirals
  • Farmers Vow To Carry On Protest Despite Covid Concerns
  • India, Pak Held Secret Talks To Try To Break Kashmir Impasse
  • Over 200,000 Daily Covid Cases As Hospital Beds, O2 Fall Short
  • Myanmar Security Forces Fire On Medical Workers, Some Hurt
  • India’s Net-Zero Dream: Between Diplomacy And Reality
  • ‘Super-spreader’ Erupts As Devout Throng Kumbh Mela
  • Crises Between India, Pak Likely To Intensify: US Intel Report
  • Navalny Has Difficulty Speaking, Loses More Weight, Wife Says
  • Retd Judge Who Gave Babri Verdict Made UP Deputy Lokayukta
  • Covid Pandemic ‘A Long Way From Over’: WHO Chief
  • 10 States Show Steep Rise In Daily COVID-19 Cases
  • Myanmar Activists Vow Week Of Protests During NY Holidays

Search

Main Links

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

Related Stroy

  • Featured

Farmers’ Union Wants Govt To Start Vax Centres At Protest Sites

2 hours ago Pratirodh Bureau
  • Featured

Memorial For Farmers Who Died During Protests

2 hours ago Pratirodh Bureau
  • Featured

Mumbai’s Famed Lunchmen Struggle As Covid Hits Trade

8 hours ago Pratirodh Bureau
  • Featured

‘Strong Evidence’ Covid Mainly Spreads Through Air: Lancet

10 hours ago Pratirodh Bureau
  • Featured

Case Against Mamata For ‘Instigating’ People In Bengal

1 day ago Pratirodh Bureau

Recent Posts

  • Farmers’ Union Wants Govt To Start Vax Centres At Protest Sites
  • Memorial For Farmers Who Died During Protests
  • Mumbai’s Famed Lunchmen Struggle As Covid Hits Trade
  • ‘Strong Evidence’ Covid Mainly Spreads Through Air: Lancet
  • Case Against Mamata For ‘Instigating’ People In Bengal
Copyright © All rights reserved. | CoverNews by AF themes.