Assuming a cost of Rs 400 per dose, the Covid vaccination drive to cost govt about Rs 48,851 crore of which it had already budgeted for Rs 35,000 crore, the report said. Further, the extension of the Pradhan Mantri Garib Kalyan Anna Yojana till November would put an additional cost of Rs 91,000 crore on the governments finances for the scheme from May onwards, it said.
NEW DELHI: The six-member RBI monetary policy committee (MPC) on Friday kept the policy rate unchanged at 4 per cent and maintained an accommodative stance, largely in line with Dalal Street expectations. The reverse repo rate remained unchanged at 3.35 per cent.
The decision came amid a cut in FY22 GDP growth forecast by the RBI to 9.5 per cent from 10.5 per cent earlier.
“Tough times call for tough decisions. I am convinced as we stretch out to bring the virus under control it will bring the best out of us,” Governor Shaktikanta Das said.
The BSE Sensex, which was trading 100 points higher before the RBI meet, fell following the GDP forecast. The 30-pack index was ruling at 52,152, down 80 points. The NSE NIfty50 was quoting at 15,666.05, down 0.15 per cent.
According to analysis of the corporate bond yields, bank s MCLRs and GSecs between January 2020 and March 2021 by Care Ratings, AAA-rated companies could sell their debt at a cheaper rate than bank loans to the extent of 46 bps, and AA+ papers by 33 bps over the MCLR or the marginal cost of funds-based lending rate and below which a bank cannot lend. When compared to the Gsecs, AAA and AA+ papers could command only 100 bps over the benchmark gilts.
India could be staring at Rs 5.4 lakh crore loss due to second round of lockdowns: Barclays
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India could be staring at Rs 5.4 lakh crore loss due to second round of lockdowns: BarclaysBy
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Barclays lowered its growth forecast for the ongoing fiscal to a single-digit figure of 9.2% from 10% earlier. Similarly, SBI Research saw FY22 growth in single digits against its earlier projection of 10.4%, although it did not provide a specific number.
An empty vaccine centre. The slow pace of India’s vaccination drive increases the risk of a third wave, according to Barclays.
The Indian economy could be staring at a loss of about Rs 5.4 lakh crore ($74 billion) as the economic cost of lockdown restrictions on account of the second wave of Covid-19 was climbing rapidly, said a Barclays report on Tuesday.
India to reach peak of 2nd Covid wave in 20 days from now, says SBI Research
SBI Research says that India should not be complacent as it ll reach the peak of the second wave as this could lead to a widespread increase in infection as has happened in the current wave
BusinessToday.In | April 30, 2021 | Updated 16:42 IST
Adopting a cluster-based approach for vaccination is the only way out, says SBI Research
The peak of the second coronavirus wave in India will come around mid-May (around 20 days from now) with active cases reaching around 36 lakhs, SBI Research in its latest report has said. As states go for partial or weekend lockdowns, SBI Research also revised India s FY22 growth projection to 10.4 per cent real GDP and 14.2 per cent nominal GDP.