CRISIL said it expected the current quarter's GDP to shrink 25 per cent year on year.
Collections may come under pressure once the base effect wears off
According to the Reserve Bank of India (RBI) data, the combined liabilities of the Centre and the state governments were around Rs 147 trillion at the end of March 2020
RBI took cognizance of the difficult situation amid the global coronavirus crisis and announced a number of measures for the export and import sector
Given the severity of the situation due to the Covid-19 pandemic, the timing of rate transmission holds great significance.
The central bank cut the repo rate by 40 bps to 4% and the reverse repo rate was brought down to 3.35%
RBI extends the moratorium on loan repayments by three more months
From building a functioning public health system to why you must not use sanitisers on fruits and vegetables - read these and more in today's India dispatch
Growth holds the key to the government's fiscal deficit slippage
Predicts a 5 per cent GDP contraction for India in FY21, says recently announced reforms not to have immediate impact on reviving growth
Net borrowing ceiling for 2020-21 was earlier pegged at Rs 6.41 trillion (3 per cent of gross state domestic product), and the states have thus far borrowed merely 14 per cent of this authorised limit
Policy predictability and an unambiguous long-term blueprint are essential for private investors
The second package focuses mostly on support to businesses, especially MSMEs
In a crisis, it is imperative that a country borrows and spends more
Govt must present a credible macroeconomic picture
Coronavirus has snuffed out lives of more than 2,100 people and infected nearly 63,000 in India
The Centre must give states the freedom to spend more, respecting India's federal structure, Basu said
The rapid and widening spread of the Covid-19, deteriorating global economic outlook, falling oil prices, and financial market turmoil are creating a severe and extensive economic and financial shock
Moody's rating on the government of India is Baa2 with negative outlook
Large-scale contraction across sectors in April; which way the GDP will go depends largely on how long the lockdown stays