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Wall Street jumps as hopes for easing lockdown offset earnings worry; Nasdaq registers fourth straight day of gains
•Advancing issues outnumbered declining ones on the NYSE by a 3.19-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored advancers.
Coronavirus Outbreak: After Moody's, Fitch cuts India GDP growth forecast to 4.6% for FY21; cites weak private consumption
Fp Staff •
Coronavirus Outbreak: Former RBI Governor Bimal Jalan pitches for fiscal stimulus
•Former RBI governor Bimal Jalan has pitched for fiscal stimulus to mitigate the impact of coronavirus outbreak which, he said, could lower India's growth by an estimated 1 percentage point, and affect jobs
Share trading should be stopped to restrict bloodbath in stock market, says TMC MP Saugata Roy in Lok Sabha
•A TMC member in Lok Sabha on Friday proposed that the government close share trading in the country on account of "bloodbath" on Dalal Street
Asia shares seek calm as Wall Street ekes out gains; bonds rally, oil bounces back, dollar rush causes stress
•The dollar’s surge is a nightmare for the many countries and companies that have borrowed heavily in the dollar, leading to yet more selling of emerging market currencies in a negative feedback loop.
Budget 2020: Bold fiscal measures, strong implementations will provide much-needed fillip to sagging real estate sector
Sanchit Gaurav •Recent estimates indicate that some of the pain points of the real estate sector include delayed projects, shortage of funds, high unsold inventory and stalled projects.
India's lower than expected GDP numbers 'biggest drag' on global growth forecast for two years, says IMF's Gita Gopinath
Fp Staff •India-born IMF Chief Economist Gita Gopinath said growth in India slowed sharply owing to stress in the non-bank financial sector and weak rural income growth
IMF cuts global growth forecasts as India falters on domestic demand slowdown; says bottom may be near
•The IMF also said it marked down growth forecasts for Chile due to social unrest and for Mexico, due to a continued weakness in investment.
RBI windfall of Rs 1.76 lakh cr surplus to Centre supports deficit, offers a permanent avenue to raise resources
Madan •The government will get a bonanza of around Rs 86,000 crore over and above the budgetary provision of Rs 90,000 crore from the RBI
Govt gets windfall gain of Rs 1.76 lakh cr from Reserve Bank of India; raises expectation of fiscal stimulus
•A source familiar with discussions said the government will use the funds to stimulate the economy by cutting taxes