Consumer Demand News
India reports 7,466 COVID-19 cases, 175 deaths in 24 hours; Jan-March GDP figures paint a gloomy picture ahead
The number of COVID-19 cases in India climbed to 1,65,799 while toll reached 4,706 with the country registering over 7,000 new cases on Friday
COVID-19 Impact: GDP growth dips to 3.1% in Jan-Mar quarter, slowest growth in 8 years; economy grows at 4.2% in FY20
The gross domestic product (GDP) had expanded by 5.7 percent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday.
Coronavirus Lockdown: GDP data set to show economy grew at its slowest pace in 2 years in March quarter, says report
Unlike some advanced economies, India’s stimulus package has largely focussed on subsidised credit to small businesses and farmers, while direct fiscal stimulus was limited to around 1 percent of the GDP, economists said.
China became the first major economy to reopen factories in March after the ruling Communist Party declared victory over the outbreak. But the United States, Europe and other major markets have yet to lift controls that are keeping consumers from spending.
The coronavirus pandemic is a "severe demand shock" for the Indian economy and could lead to further moderation in the country's GDP growth as the coronavirus-induced lockdown is causing significant disruption across multiple sectors, says a report
The nearly 30 percent fall in global crude oil prices can lower petrol prices by Rs 12 per litre and diesel prices by Rs 10 per litre in India from their present prices, said State Bank of India (SBI) research team's publication Ecowrap published on Tuesday
Domestic passenger vehicle sales declined 6.2 percent in January as vehicle demand continued to be stressed by rising cost of ownership and slower GDP growth, automobile industry body SIAM said on Monday
Finance Minister Nirmala Sitharaman's first full-year Budget is expected to provide short-term stimulants to boost consumer demand, and such measures will get a positive response from markets, an American brokerage report said on Monday
Assocham for cut in GST rates by 25% across the board for next six months to boost investment, consumer demand
Industry chamber Assocham on Wednesday urged the government to reduce GST rate by 25 percent across the board for the next six months with a view to boost investment and demand
IIP has grown just 0.6% this fiscal so far vs 5% in last year; economic recovery depends on how govt spends in Q4
It will take a few more months to understand whether the uptick in the November factory output indicates the beginning of a revival trend
GDP growth at 4.5% is the slowest growth since January to March 2013, when the economy had grown at 4.30% when Manmohan Singh was prime minister
Despite efforts mounted by the government, demand has been "muted" during the festive time, and this leads to a 0.30 percent cut in FY20 GDP growth forecast to 5.8 percent, a foreign brokerage said on Monday
India plans to take more steps to boost consumer demand including injecting liquidity through banks and simplifying personal taxes, a top government economic adviser said on Friday, in a bid to raise economic growth from six-year lows
IIP contracts by 1.1% in August: Indian economy is waiting for a Santa to cheer it with bags full of money
The August IIP numbers was the lowest in seven years showing negative growth of 1.1%
Making a case for slow fashion: Consumers, brands must re-think choices to prevent irreversible climate change
The fashion industry is one of the most polluting industries in the world, given the pressure to facilitate consumer hunger. If real change is to happen, more people must begin to take a proactive approach and act in reflection of their moral values.
Maruti Suzuki cuts prices of select models by Rs 5,000 after Nirmala Sitharaman's announcement of corporate tax rate cut
The country's largest carmaker Maruti Suzuki India on Wednesday reduced the prices of select models by Rs 5,000 (on ex-showroom prices)
GST Council meets tomorrow to decide on tax moderation; industries seek relief amid economic slowdown
Amid the clamour for a rate cut by various industries, the all-powerful GST Council will hold a crucial meeting on Friday to decide on tax moderation, keeping in mind the revenue position and the need to boost sagging economic growth
GDP growth seen slipping in April-June quarter as consumer demand, private investment weaken; more stimulus expected
India’s economy likely expanded at its weakest pace in more than five years in April-June, a <em>Reuters</em> poll showed, as consumer demand and private investment weakened at a time global trade frictions have dampened business sentiment
Economic growth seen slipping in April-June on weak consumer demand, private investment; more stimulus expected: Poll
In spite of a windfall dividend to the government of nearly $21 billion from the central bank, the room for aggressive stimulus is limited due to slower growth in tax receipts, analysts say.
Slowdown in consumption: India Ratings cut GDP forecast to 6.7% for current fiscal from earlier estimate of 7.3%
India Ratings on Wednesday lowered the country's growth forecast to six-year low of 6.7 percent for the current fiscal from an earlier estimate of 7.3 percent on account of slowdown in consumption and moderation in industrial growth among other factors