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Dead Cat Bounce?- Business News


Dead Cat Bounce?
The latest Business Today Business Confidence Index (BCI) shows slight improvement in overall sentiment despite the pessimism around economic and business issues
Illustration by Raj Verma & graphics by Tanmoy Chakraborty
As India is going through the second wave of Covid-19 infections, so are fears of uncertainty and gloom. But the consistent improvement in gross domestic product (GDP) numbers over the past year is playing a key role in shaping up sentiments of corporate India, as highlighted in the latest Business Confidence Index (BCI) survey.
On a scale of 100, BCI jumped to 45.5 in the January-March period compared to 43.8 in the previous quarter and 48.2 in the quarter before that. Market research agency C fore quizzed 500 CEOs and chief financial officers across 12 cities for the survey. ....

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In annual budget, India vows to boost spending to revive economy


India is proposing doubling healthcare spending in an annual budget unveiled on Monday and lifting caps on foreigners investing in its vast insurance market to help revive an economy that suffered its deepest-ever slump as a result of the coronavirus pandemic.
Delivering her budget statement to Parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8 percent of gross domestic product (GDP) for 2021/2022, higher than the 5.5 percent forecast by a recent poll of economists carried out by the Reuters news agency. The current fiscal year ending on March 31 was expected to close out with a deficit of 9.5 percent, she said, much higher than the government’s earlier projection of 7 percent. ....

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India's "get well soon" budget boosts healthcare spending 135%, opens up insurance


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NEW DELHI, Feb 1(Reuters) - India boosted healthcare
spending by 135% and lifted caps on foreign investment in its
vast insurance market on Monday to help revive an economy that
suffered its deepest recorded slump as a result of the pandemic.
Delivering a budget statement to parliament, Finance
Minister Nirmala Sitharaman projected a fiscal deficit of 6.8%
of gross domestic product for 2021/22, higher than the 5.5%
forecast by a recent Reuters poll of economists.
The current year was expected to end with a deficit of 9.5%,
she said, well up from the 7% expected earlier.
Prime Minister Narendra Modi said the budget was aimed at ....

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