Home » Publication » Weekly Updates on Indian Economy (Earlier Versions) » 7 - 13 March, 2020
Weekly Updates on Indian Economy
7th March 2020 to 13th March 2020
National Accounts and state of the economy
1. Sovereign wealth funds may cut down India play as oil prices drop
2. Coronavirus outbreak will drill a USD 2 trillion hole on world economy: UN trade body
3. Oil surges on hope of economic stimulus
https://www.thehindu.com/business/businesslive-11-march-2020/article31037240.ece
4. Thermal Coal imports for 2019 rise 12.6%
5. Coronavirus: Moody's cuts India growth forecast to 5.3% for 2020 on dampened domestic demand
https://economictimes.indiatimes.com/news/economy/indicators/coronavirus-moodys-cuts-india-growth-forecast-to-5-3-for-2020-on-dampened-domestic-demand/articleshow/74551392.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
6. Global GDP may lose $77- 347 bn, says ADB
7. Cash usage now at pre-demonetisation levels: CMS Info Systems report
8. CAD narrows to 0.2% GDP in third quarter
https://www.thehindu.com/business/cad-narrows-to-02-of-gdp-in-third-quarter/article31052571.ece
9. Retail Inflation eases to 6.58%, industrial production quickens
10. Unwinding of carry trades, FPI outflows leave rupee lagging other Asian currencies
11. We are in the tail end of modest slowdown of the economy: NITI Aayog Vice Chairman
https://economictimes.indiatimes.com/news/economy/policy/we-are-in-the-tail-end-of-modest-slowdown-of-the-economy-niti-aayog-vice-chairman/articleshow/74526893.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Public Finance
1. GST rates may rise on mobiles and footwear
2. Govt to sell Rs 8,000-cr SUUTI stake to meet revised FY20 divestment target
3. Excise duties on petrol, diesel may not be raised despite revenue pressures
https://economictimes.indiatimes.com/news/economy/foreign-trade/excise-duties-on-petrol-diesel-may-not-be-raised-despite-revenue-pressures/articleshow/74558289.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
4. Shortfall in Direct Tax mop up now just 0.7%
5. CBDT asks govt to tell PSUs to opt for 'Vivad se Vishwas' scheme
Banking and Central Bank related
1. SBI removes minimum balance requirement; cuts interest rate on savings accounts to 3%
2. RBI taps private investors to take stakes in Yes Bank
3. Fallout of Yes Bank crisis: Fear factor hits private lenders
4. Banks consolidation: Chief executives to share plans, state of preparedness
5. Private Banks stealing a march over PSBs in incremental credit offtake: SBI research report
6. Plunge in crude makes room for rate cuts
https://economictimes.indiatimes.com/markets/stocks/news/plunge-in-crude-makes-room-for-rate-cuts/articleshow/74568691.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
7. Post IL&FS default, housing finance companies see stable growth: NHB
8. Scrapping of AT1 bonds to hit MFs
http://timesofindia.indiatimes.com/articleshow/74567676.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
9. RBI opens dollar-swap window
https://www.thehindu.com/business/rbi-opens-dollar-swap-window/article31052594.ece
10. SEBI’s new reforms to help identify charge in NBFC defaults
11. Indian banks well capitalised, no reason to worry: CEA Krishnamurthy Subramanian
Agriculture
1. Food ministry seeks extra Rs 13,000 crore to help states pay farmers
External Sector
1. India exploring nuts and bolts of possible FTA with Australia
2. Coronavirus: Meat, rice, pharma exporters worried
https://economictimes.indiatimes.com/news/economy/indicators/coronavirus-meat-rice-pharma-exporters-worried/articleshow/74583623.cms
3. WTO focus on trade benefits to developing nations at key meet
Industry, Manufacturing, Services and Technology
1. Saudi Arabia just shrank your fuel bill
2. MSMEs need cash-flow based financing
3. Fear of things made in China hits electronic products sales
4. Govt may halve dividend income tax rate for big local investors
https://economictimes.indiatimes.com/news/economy/policy/govt-may-halve-dividend-income-tax-rate-for-big-local-investors/articleshow/74568463.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
5. Thermal plants' Jan load factor at 5-yr low as slowdown hits power demand
6. 2nd biggest arms importer, India 23rd on exporters' list
http://timesofindia.indiatimes.com/articleshow/74559063.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
7. Oils Rout
https://www.thehindu.com/opinion/editorial/oils-rout/article31025950.ece
8. SEZs seek continuation of IT benefits beyond March 31
9. NCLAT clears insolvency resolution framework for IL&FS proposed by govt
https://economictimes.indiatimes.com/news/company/corporate-trends/nclat-clears-insolvency-resolution-framework-for-ilfs-proposed-by-govt/articleshow/74603641.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
10. Industrial production grows 2 per cent in January
Columns by Joseph Stiglitz and Paul Krugman
1. The Case for Permanent Stimulus (Wonkish)
https://www.nytimes.com/2020/03/07/opinion/the-case-for-permanent-stimulus-wonkish.html
2.Trump Can’t Handle the Truth
https://www.nytimes.com/2020/03/09/opinion/trump-economy-coronavirus.html