March quarter GDP data As India nears the end of the fourth phase of lockdown, economists are wondering what's the cost of nation-wide lockdown that has been in place since March 25. As per SBI's research team, the cost of lockdown for the seven days of March may cost India Rs 1.4 lakh crore, which it says may drag India's GDP for FY20 to 4.2 per cent from 5 per cent estimated earlier. Decline in global markets Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong, Reuters reported. The pan-European STOXX 600 index fell 1.1 per cent, while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent. Record spike in Covid-19 cases The coronavirus pandemic in India grew by the highest number yet on Friday when 7,466 fresh cases were detected across the country, taking the total count to 165,799 cases. Around 175 deaths … [Read more...] about Fag-end buying drives Sensex 224 points higher; all eyes on GDP data
Us stock market to gdp ratio
The adjustment of socio-economic targets is a big and unprecedented issue, because the targets set in the NA’s Resolution are concretised from the Resolution of the Party Central Committee. On the basis of the Government’s proposal, the decision on the adjustment of growth targets will be made by the competent levels, with the current political and legal bases taken into account. According to economic experts, the adjustment of GDP growth target and relevant macro targets in accordance with the new developments in the domestic and international socio-economic situations will create favourable conditions for the Government in its management work, towards realising the dual goal of successfully combating the pandemic and reviving the economy after the disease. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30
Arun Kumar: As Dr. John pointed out, lockdown is needed to slow the pace of increase of the disease. The apex has to be brought down to the capacity that we have and use the time of lockdown to build the capacity for health to cope with the emergency that is going to come. We need testing, more hospitalisation capacity, more doctors etc. Lockdown gave you time only for that. It is not a cure. In the lockdown, production completely stops, demand also correspondingly falls because of income decline. So what you have is a situation where both supply and demand are affected, the economy comes down, and only essentials are produced. In my judgment only 25% of the economy was working, so you had a minus 75% rate of growth, about 200 million people lost work because 94 % of the employment is in the unorganised sector. That completely stopped as they did not have working capital, supplies. So 94% of the workforce has lost employment. Those in agriculture can continue, and in mining and rural … [Read more...] about Can India’s workforce have a safe return to business?