Read more about Core sectors output soars by 56.1% in April due to low base effect on Business Standard. But it is down 15% sequentially due to second wave
Investment recovery unlikely without consumption revival: Devendra Pant, India Ratings
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Last Updated: May 28, 2021, 01:14 PM IST
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Synopsis The growth number looks to be very difficult to predict as of now because more than any shock which economies can model with some extent of err, what we are struggling with right now and did last year is uncertainty.
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It is consumption revival which is very important because until and unless we have consumption revival, it is unlikely that we have a broadbased investment recovery in the economy, said
India Ratings & Research on ET Now s India Development Debate. Edited excerpts:
Credit card spends grow at slow pace as Covid second wave hits sentiment
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Asset quality from the unsecured segment a big worry; banks have curtailed credit limits and also cut back on new customer additions
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Mumbai: Credit card spends in the country grew by only 7.8% in the year ended March 2021, down from a jump of 22.5% in FY20, a sign that discretionary spending continues to remain elusive.
Individual banks indicated spend growth has fallen further in April and May.
“We have seen a significant decline in spends in the last 45 days, largely due to the spread of the virus and strict local lockdowns enforced across states,” the retail head of a private sector lender said. “The worrying factor is that the quality of good assets has taken a hit in this (credit card) segment, and we will go slow on onboarding new clients.”
Wholesale price index spike may hit consumer price index with lag: Economists
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India’s wholesale inflation rose to a near 11-year high of 10.5% in April, data released on Monday showed. By contrast, retail inflation, as measured by the consumer price index (CPI), eased to 4.29% in April, from 5.52% in March, remaining within the Reserve Bank of India’s (RBI) target band of 2-6% for the fifth straight month.
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Economists expect convergence in wholesale and retail inflation going ahead as higher commodity and fuel prices lead to a cost push in retail inflation.
The sharp spike in the wholesale price index (WPI) in April is likely to spill over to retail inflation with a lag, but a normal monsoon and lower food inflation may moderate the impact, economists said. Retail inflation is expected to remain in the 5-5.5% range in the near term but could pick up toward the end of the financial year, they said. The meteorological department has foreca
Finance Ministry hopes pent-up demand to boost recovery this fiscal thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.