May 3, 2021
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With more businesses reopening and bringing employees back to work, the U.S. economy is on firm footing and could see its fastest growth in more than three decades, National Retail Federation Chief Economist Jack Kleinhenz said today.
“While there is a great deal of uncertainty about how fast and far this economy will grow in 2021, surveys show an increase in individuals being vaccinated, more willingness to receive a vaccination, increased spending intentions and comfort with resuming pre-pandemic behaviors like shopping, travel and family gatherings,” Kleinhenz said. “This feel-better situation will likely translate into higher levels of household spending, especially around upcoming holidays like the Fourth of July and spending associated with back-to-work and back-to-school.”
NEW DELHI â As the country witnesses a rapid resurgence of coronavirus cases, a Finance Ministry report has exuded confidence in the Indian economy and termed the economic recovery as resilient citing improvement in high frequency indicators.
The Monthly Economic Review for March 2021 released by the Department of Economic Affairs said that the agricultural sector remains the bright spot of Indian economy, with food grains production touching 303.3 million tonnes in 2020-21 beating record production levels for the fifth consecutive year in a row.
Further, MGNREGS has acted as a strong pillar to insulate the rural economy by generating an all-time high employment of 383.8 crore person days during 2020-21, 44.7 percent higher compared to the previous year.
Daily Market Commentary - April 6, 2021 - Bonanza Portfolio
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Mr Vishal Wagh, Research Head
On Tuesday Indian equity benchmark indices were trading higher tracking mixed global cues. Markets are trading higher with gains of around half a per cent each in early deals on the back of buying in Power, Utilities and Metal stocks. In the afternoon session, Indian equity benchmarks traded flat. Both Sensex and Nifty are trading around 49,150 and 14,667 levels.
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the soaring new covid infection numbers and extended lockdown restrictions dulled the market sentiments.
Banks likely to see gross NPAs rise nearly 10% by year-end: Report
Banks likely to see gross NPAs rise nearly 10% by year-end: Report
A report by ICRA expects banks’ gross NPAs (excluding write-offs) to rise 9.6-9.7 per cent by March 31, 2021. The rating agency further predicts GNPAs to rise over 10 per cent by March 31, 2022. The sharp rise in GNPAs will severely deteriorate banks’ asset quality, spread over FY21 and FY22.
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UPDATED: April 6, 2021 11:50 IST
The sharp rise in NPAs could put the banks under serious pressure. (Photo: Reuters/Representational image)
Even as the economy emerges from last year’s critical slump, the trouble for India’s banking sector is far from over. The reason behind this is the large pool of bank loans that have been put under the “overdue categories” after customers opted for moratoriums and restructuring of loans.
As the country witnesses a rapid resurgence of coronavirus cases, a Finance Ministry report has exuded confidence in the Indian economy and termed the economic recovery as resilient citing improvement in high frequency indicators. The Monthly Economic Review for March 2021 released by the Department of Economic Affairs (DEA) said that the agricultural sector remains the bright spot of Indian economy with foodgrains production touching 303.3 million tonnes in 2020-21 beating record production levels for the fifth consecutive year in a row. Further, MGNREGS has acted as a strong pillar to insulate the rural economy by generating all-time high employment of 383.8 crore person days during 2020-21, 44.7 per cent higher compared to previous year.