India grew at the fastest pace of any major economy in the July-September quarter but economists said disruptions from the emerging Omicron coronavirus variant risked slowing the recovery, especially given India`s low vaccination rates.
Asia`s third-largest economy has rebounded strongly from last year`s deep pandemic-induced slump, boosted by vaccinations and stronger government spending, economists said. But new COVID-19 variants, a global slowdown and rising manufacturing prices all pose risks to growth.
Some of India's mid-sized private banks, once the darling of stock market investors, are struggling in the market cap rankings. how do they plan to regain their lost glory?
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Dead Cat Bounce?
The latest Business Today Business Confidence Index (BCI) shows slight improvement in overall sentiment despite the pessimism around economic and business issues
Illustration by Raj Verma & graphics by Tanmoy Chakraborty
As India is going through the second wave of Covid-19 infections, so are fears of uncertainty and gloom. But the consistent improvement in gross domestic product (GDP) numbers over the past year is playing a key role in shaping up sentiments of corporate India, as highlighted in the latest Business Confidence Index (BCI) survey.
On a scale of 100, BCI jumped to 45.5 in the January-March period compared to 43.8 in the previous quarter and 48.2 in the quarter before that. Market research agency C fore quizzed 500 CEOs and chief financial officers across 12 cities for the survey.
India is proposing doubling healthcare spending in an annual budget unveiled on Monday and lifting caps on foreigners investing in its vast insurance market to help revive an economy that suffered its deepest-ever slump as a result of the coronavirus pandemic.
Delivering her budget statement to Parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8 percent of gross domestic product (GDP) for 2021/2022, higher than the 5.5 percent forecast by a recent poll of economists carried out by the Reuters news agency. The current fiscal year ending on March 31 was expected to close out with a deficit of 9.5 percent, she said, much higher than the government’s earlier projection of 7 percent.