Page 4 - Devendra Pant News Today

Sluggish rural spending and rising borrowing costs have started hitting consumer demand

Get latest articles and stories on Latest News at LatestLY. Warning states against their competitive subsidies, research agency India Ratings has said five states, led by Punjab, are on the brink of a deep fiscal crisis as their subsidies are much higher than sustainable levels in terms of a percentage of GSDP. Latest News | States Doling out Competitive Subsidies on Brink of Fiscal Collapse: Report.

Get latest articles and stories on Latest News at LatestLY. India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 per cent, from 7.6 per cent earlier citing the rising uncertainty over Russia-Ukraine war and the resultant dampening of consumer sentiment. Latest News | Ind-Ra Slashes FY23 GDP Forecast to 7-7.2% Citing Ukraine War.

The impact will be felt more on inflation, a widening current account deficit and a falling rupee, its chief economist Devendra Pant said in the report.

The ongoing crisis in Ukraine is set to push the country's import bills beyond the $600 billion mark this fiscal, given India's import dependence on crude oil, natural gas, gems and jewellery, edible oils and fertilisers, which can lead to a spike in inflation and current account deficit, and a falling rupee, warns a report.

The annual budget was focused on big-ticket infrastructure spending but lacked measures to spur consumption.

Repeal of controversial plans to open up agriculture markets has not halted the rest of the Indian government's economic liberalisation plan

Investment recovery unlikely without consumption revival: Devendra Pant, India Ratings SECTIONS Last Updated: May 28, 2021, 01:14 PM IST Share 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." Agencies It is consumption revival which is very important because until and unless we have consumption revival, it is unlikely ...

India expects tax collection growth to continue despite surge in COVID-19 cases SECTIONS Last Updated: Apr 13, 2021, 02:28 PM IST Share Synopsis Some business leaders have expressed concerns over the lockdowns by many states after a surge in infections, fearing that it could hit consumer demand and sales as well as tax collections. Agencies Goods and services tax receipts were down 8% in the 2020/21 fiscal year compared to the previous period because of a reduction in economic activities after ...

Sensex, Rupee slip amid pandemic fears as inflation surges in March Updated: Updated: April 12, 2021 21:37 IST Household goods and services inflation hit a 10-month high while recreation and amusement services touched a 9-month high. Share Article File image. Photo used for representation purpose only.   | Photo Credit: REUTERS Household goods and services inflation hit a 10-month high while recreation and amusement services touched a 9-month high. The BSE Sensex tanked 1708 points or 3.44% d...