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    Moody's rated Modi's handling of economy a step above junk, says Rahul Gandhi

    He said lack of support to the poor and small and medium industry indicates that the worst is yet to come New Delhi: Congress leader Rahul Gandhi on Tuesday voiced concern over the state of India's economy, saying global rating agency Moody's has termed its handling by Prime Minister Narendra Modi "a step above junk". He said lack of support to the...

    • 8 hrs ago
  • Headlines

    India will definitely get its growth back, path to that is Atma-nirbhar bharat: PM Modi

    Speaking at CII's Annual Session, he called on India Inc to rise to the occasion and partner rural India in these testing times New Delhi: A day after Moody's downgraded India's credit rating to a notch above junk status on growth concerns, Prime Minister Narendra Modi on Tuesday asserted that the country will definitely get back its economic...

    • 9 hrs ago
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    Moody's cuts India's rating to lowest investment grade with negative outlook

    India's economy grew 3.1% in January-March, its slowest quarterly pace in at least eight years NEW DELHI: Moody's Investors Service downgraded India's credit rating to a notch above junk on Monday, citing a prolonged period of slow growth in Asia's third-largest economy, rising debt and persistent stress in parts of the financial system. It said the...

    • 14 hrs ago
  • Headlines

    Even before Covid19, India's economy was slumping

    The economy grew by 3.1% in Jan-Mar quarter of 2019-20, against 5.7% at the same time a year ago, the slowest growth in at least eight years New Delhi: The Indian economy was in its worst phase even before the coronavirus outbreak, with growth in the gross domestic product (GDP) falling to a 11-year low of 4.2 per cent in 2019-2020. The economy grew by 3.1 per cent in the January-March quarter...

    • 4 days ago
  • Business

    Italy slips into great recession since World War II

    Business confidence in the eurozone's third largest economy in May plummeted to its lowest level MILAN: Facing its deepest recession since World War II and with business confidence collapsing, the coronavirus pandemic is hitting Italy's economy hard. Business confidence in the eurozone's third largest economy in May plummeted to its lowest level since official statistics...

    • 4 days ago
  • Business

    Singapore cuts GDP outlook again as virus batters economy

    Singapore's economy shrank 0.7% year-on-year in the first quarter and 4.7% on a quarter-on-quarter SINGAPORE: Singapore downgraded its 2020 gross domestic product forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession. The city-state lowered its GDP forecast to a contraction range of -7% to -4% from the prior...

    • a week ago
  • Headlines

    RBI cuts repo rate, extends loan moratorium, projects negative GDP growth

    RBI Governor Shaktikanta Das extended the moratorium period by another three months from June 1 to August 31 due to lockdown extension New Delh RBI Governor Shaktikanta Das is address the media days after Finance Minister Nirmala Sitharaman unveiled details of the Rs 20 lakh crore economic package. Governor Das said that India's gross domestic product (GDP) will see...

    • 2 weeks ago
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    World Bank estimates 60 million people may fall into extreme poverty due to covid19

    The World Bank announced emergency operations worth USD 160 billion in 100 developing countries to fight the deadly virus Washington: The coronavirus pandemic is expected to put over 60 million people into extreme poverty globally, the World Bank has said as it announced emergency operations worth USD 160 billion in 100 developing countries to fight the deadly...

    • 2 weeks ago
  • Economy

    Foreign investors pull out $26 billion from Asian economies, $16 billion from India

    The small decline in orders in March is likely to give way to a collapse in investment across this quarter Washington: Amidst the global economic recession due to the coronavirus pandemic, foreign investors have pulled out an estimated USD 26 billion from developing Asian economies and over USD 16 billion out of India, according to a Congressional report....

    • 2 weeks ago
  • Headlines

    Stimulus package fails to involve banks as frontline warriors, says RBI board member

    He said the three-month moratorium offered for loan repayments announced by Reserve Bank of India is "not enough" Mumbai: The stimulus package announced by finance minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday. The stimulus...

    • 2 weeks ago

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