Indian Economic Slowdown

The Indian economy has carried the momentum from the past year into the current fiscal year and there has been no evidence by far that suggests a slowdown in the current financial year 2023-24, said the Department of Economic Affairs said.

Last week, Singapore reported some weak economic numbers raising fears of a recession. Annual exports fell for the eighth consecutive month while total employment expanded at a slower rate, retrenchments rose, and job vacancies shrank for the fourth

India's GDP is projected to moderate to 5.8 per cent in 2023 as higher interest rates and global economic slowdown weigh on investment and exports, the United Nations said.

Indian equity benchmarks jumped on Thursday, riding higher on investor optimism driven mainly by a rally on Wall Street tracking robust US company earnings, but global economic growth fears, a slowdown in demand from China's stringent restrictions, and Europe's energy crisis persist.

Indian equity indices opened in the red on Monday, tracking a sell-off in Asian equities driven by economic slowdown fears from the anticipated aggressive monetary policy tightening from major central banks, led by the US Federal Reserve.

Despite the global economic slowdown due to the Covid-19 pandemic, several Indian start-ups managed to beat the sentiment and have been successful.

The World Bank, in its Indian Development Update' Report on Indian Economy, exuded confidence that economic slowdown will open new opportunities for the country.

Air India has withdrawn job offers for around 180 trainee cabin crew members amid the economic slowdown in the Indian aviation sector due to the coronavirus pandemic, said airline officials on Saturday.

Despite the economic slowdown in the wake of the COVID-19 crisis, a batch of 56 students of IIM-Calcutta secured 60 job offers with an average remuneration of Rs 26.31 lakh per annum, according to a statement issued on Saturday.

The Indian economy is likely to bounce back with a sharp growth rate of 9.5 per cent next year if it manages to avoid further deterioration in the financial sector, Fitch Ratings said.

Finance Minister Nirmala Sitharaman, in a series of tweets on the Rs 20 lakh crore package announced by Prime Minister Narendra Modi to tackle the economic impact of coronavirus, called it not just a financial package but a "reform stimulus and a mindset overhaul".

Senior Congress leader Rahul Gandhi on Sunday said the economic slowdown has made Indian companies susceptible to takeovers, and demanded the "corporates" must be protected from "foreign interests".

A prolonged slowdown in the economy depressed tax collections in the financial year that ended Tuesday, latest official data show.

Referring to the economic slowdown, the Congress on Friday said the government's functioning has been affected by the "karo-na (don't do anything) virus", asserting that the Centre continues to function in an "ostrich-like" mode despite all economic indicators spiralling downward.

A sprawling 1,063-acre property development located in Noida, just outside New Delhi, Wish Town was supposed to give would-be home buyers sparkling shopping malls, pristine golf courses and modern medical clinics. Apartments that should have been delivered by 2012 were billed in the media as "global homes with an Indian address."

The Indian economy has carried the momentum from the past year into the current fiscal year and there has been no evidence by far that suggests a slowdown in the current financial year 2023-24, said the Department of Economic Affairs said.

Last week, Singapore reported some weak economic numbers raising fears of a recession. Annual exports fell for the eighth consecutive month while total employment expanded at a slower rate, retrenchments rose, and job vacancies shrank for the fourth

India's GDP is projected to moderate to 5.8 per cent in 2023 as higher interest rates and global economic slowdown weigh on investment and exports, the United Nations said.

Indian equity benchmarks jumped on Thursday, riding higher on investor optimism driven mainly by a rally on Wall Street tracking robust US company earnings, but global economic growth fears, a slowdown in demand from China's stringent restrictions, and Europe's energy crisis persist.

Indian equity indices opened in the red on Monday, tracking a sell-off in Asian equities driven by economic slowdown fears from the anticipated aggressive monetary policy tightening from major central banks, led by the US Federal Reserve.

Despite the global economic slowdown due to the Covid-19 pandemic, several Indian start-ups managed to beat the sentiment and have been successful.

The World Bank, in its Indian Development Update' Report on Indian Economy, exuded confidence that economic slowdown will open new opportunities for the country.

Air India has withdrawn job offers for around 180 trainee cabin crew members amid the economic slowdown in the Indian aviation sector due to the coronavirus pandemic, said airline officials on Saturday.

Despite the economic slowdown in the wake of the COVID-19 crisis, a batch of 56 students of IIM-Calcutta secured 60 job offers with an average remuneration of Rs 26.31 lakh per annum, according to a statement issued on Saturday.

The Indian economy is likely to bounce back with a sharp growth rate of 9.5 per cent next year if it manages to avoid further deterioration in the financial sector, Fitch Ratings said.

Finance Minister Nirmala Sitharaman, in a series of tweets on the Rs 20 lakh crore package announced by Prime Minister Narendra Modi to tackle the economic impact of coronavirus, called it not just a financial package but a "reform stimulus and a mindset overhaul".

Senior Congress leader Rahul Gandhi on Sunday said the economic slowdown has made Indian companies susceptible to takeovers, and demanded the "corporates" must be protected from "foreign interests".

A prolonged slowdown in the economy depressed tax collections in the financial year that ended Tuesday, latest official data show.

Referring to the economic slowdown, the Congress on Friday said the government's functioning has been affected by the "karo-na (don't do anything) virus", asserting that the Centre continues to function in an "ostrich-like" mode despite all economic indicators spiralling downward.

A sprawling 1,063-acre property development located in Noida, just outside New Delhi, Wish Town was supposed to give would-be home buyers sparkling shopping malls, pristine golf courses and modern medical clinics. Apartments that should have been delivered by 2012 were billed in the media as "global homes with an Indian address."