This document provides a weekly media update from various Indian news sources mentioning Balmer Lawrie and related topics. The key articles discuss:
1) Nomura India's business resumption index hitting a post-lockdown high of 92.9% as business activity surges.
2) Crisil projecting a slower contraction of India's GDP at 7.7% in FY21 compared to their previous estimate of 9%.
3) SBI Research also tempering their forecast of India's FY21 GDP contraction to 7.4% from 10.9% previously.
- India's GDP is projected to grow by 10.1% in FY2022 according to ICRA, though this will only mildly surpass pre-pandemic levels. Medium-term growth may slow to 6.5% from FY2023 according to Fitch.
- Several reports predict double-digit GDP growth for India in FY2022 - ICRA predicts 10.1%, Brickwork Ratings predicts 11%, and BofA Securities predicts 9%.
- India saw a contraction in factory output (IIP) again in November 2021, signaling the economic recovery may still be fragile. However, retail inflation declined to a 14-month low in December.
- The Indian economy is projected to contract by 7% in the current fiscal year 2020-21, improving from the 23.9% contraction in the first quarter and 7.5% contraction in the second quarter. Some analysts believe the recession may have ended in the third quarter as business activity picks up.
- Retail inflation slowed to a 16-month low of 4.1% in January due to lower food prices, while industrial output growth returned to positive territory at 1% in December, providing some signs of economic recovery.
- The government is targeting conclusion of the strategic sale of BPCL by June quarter and has received three preliminary bids for the company.
- India's GDP for FY22 is estimated to grow 9.2% to Rs. 147.5 lakh crore, up from Rs. 135.6 lakh crore in FY21. Several major reforms were implemented to boost investment and GDP growth.
- RBI projected India's economic growth at 7.8% for FY23 and retained growth estimate for FY22 at 9.2%. Retail inflation projection for FY23 is 4.5%.
- India's industrial production growth slowed to a 10-month low of 0.4% in December 2021 due to restrictions related to the Omicron variant and high base effects from the previous year.
The Economic Survey has stressed the need for continued capital expenditure spending by the government to boost growth and private sector investment. The Survey noted that government capex generates demand and creates conditions for private investment, while also highlighting that revenue collection has been strong allowing the government to meet its fiscal deficit targets. It said targeted spending on capex will be vital to sustaining economic growth as the economy recovers.
- Nomura raised its forecasts for India's 2022 consumer price inflation to 5.5%, fiscal deficit to 6.5% of GDP, and current account deficit to 1.7% of GDP, due to higher global energy costs.
- Brickwork Ratings revised its India GDP growth estimate for FY2022 upward to 10-10.5% from 9% earlier, expecting a recovery supported by government spending and improving consumption.
- The RBI governor said tax cuts on fuel will help meet the inflation target of 5.3% and the growth target of 9.5% looks achievable, though global factors pose risks.
- India's GDP is projected to grow at 10.2% in 2021 according to Oxford Economics, one of the fastest among emerging markets. However, a large second wave of COVID-19 could pose risks to the economic recovery.
- Wholesale inflation in India rose to 2.03% in January from 1.22% in December, led by an increase in manufactured goods prices. Food inflation declined.
- The Indian government is considering setting up an external expert panel to oversee privatization of state-run firms, replacing bureaucrats, to potentially speed up the asset sale process.
The World Bank retained its forecast for India's GDP growth at 8.3% for FY22 and upgraded its forecast for FY23. Several analysts lowered their forecasts for India's FY22 growth to around 9% due to the impact of the Omicron variant. India's exports increased 33% in the first week of January compared to the same period last year, while retail inflation rose to a 5-month high of 5.6% in December driven by higher food and fuel prices.
The document provides the following information:
1) The OECD forecasts that the global economy will shrink by 4.2% in 2020 but rebound with 4.2% growth in 2021, returning to pre-pandemic levels by the end of 2021 as vaccines help the recovery.
2) India's economy contracted 7.5% in Q2 2020 but rebounded in Q3 2020 with a 23% quarter-on-quarter surge in GDP, showing a "V-shaped" recovery according to the finance ministry.
3) While some high-frequency indicators showed momentum slowing in November, the finance ministry remains "cautiously optimistic" about an economic revival in Q3.
- India's GDP is projected to grow by 10.1% in FY2022 according to ICRA, though this will only mildly surpass pre-pandemic levels. Medium-term growth may slow to 6.5% from FY2023 according to Fitch.
- Several reports predict double-digit GDP growth for India in FY2022 - ICRA predicts 10.1%, Brickwork Ratings predicts 11%, and BofA Securities predicts 9%.
- India saw a contraction in factory output (IIP) again in November 2021, signaling the economic recovery may still be fragile. However, retail inflation declined to a 14-month low in December.
- The Indian economy is projected to contract by 7% in the current fiscal year 2020-21, improving from the 23.9% contraction in the first quarter and 7.5% contraction in the second quarter. Some analysts believe the recession may have ended in the third quarter as business activity picks up.
- Retail inflation slowed to a 16-month low of 4.1% in January due to lower food prices, while industrial output growth returned to positive territory at 1% in December, providing some signs of economic recovery.
- The government is targeting conclusion of the strategic sale of BPCL by June quarter and has received three preliminary bids for the company.
- India's GDP for FY22 is estimated to grow 9.2% to Rs. 147.5 lakh crore, up from Rs. 135.6 lakh crore in FY21. Several major reforms were implemented to boost investment and GDP growth.
- RBI projected India's economic growth at 7.8% for FY23 and retained growth estimate for FY22 at 9.2%. Retail inflation projection for FY23 is 4.5%.
- India's industrial production growth slowed to a 10-month low of 0.4% in December 2021 due to restrictions related to the Omicron variant and high base effects from the previous year.
The Economic Survey has stressed the need for continued capital expenditure spending by the government to boost growth and private sector investment. The Survey noted that government capex generates demand and creates conditions for private investment, while also highlighting that revenue collection has been strong allowing the government to meet its fiscal deficit targets. It said targeted spending on capex will be vital to sustaining economic growth as the economy recovers.
- Nomura raised its forecasts for India's 2022 consumer price inflation to 5.5%, fiscal deficit to 6.5% of GDP, and current account deficit to 1.7% of GDP, due to higher global energy costs.
- Brickwork Ratings revised its India GDP growth estimate for FY2022 upward to 10-10.5% from 9% earlier, expecting a recovery supported by government spending and improving consumption.
- The RBI governor said tax cuts on fuel will help meet the inflation target of 5.3% and the growth target of 9.5% looks achievable, though global factors pose risks.
- India's GDP is projected to grow at 10.2% in 2021 according to Oxford Economics, one of the fastest among emerging markets. However, a large second wave of COVID-19 could pose risks to the economic recovery.
- Wholesale inflation in India rose to 2.03% in January from 1.22% in December, led by an increase in manufactured goods prices. Food inflation declined.
- The Indian government is considering setting up an external expert panel to oversee privatization of state-run firms, replacing bureaucrats, to potentially speed up the asset sale process.
The World Bank retained its forecast for India's GDP growth at 8.3% for FY22 and upgraded its forecast for FY23. Several analysts lowered their forecasts for India's FY22 growth to around 9% due to the impact of the Omicron variant. India's exports increased 33% in the first week of January compared to the same period last year, while retail inflation rose to a 5-month high of 5.6% in December driven by higher food and fuel prices.
The document provides the following information:
1) The OECD forecasts that the global economy will shrink by 4.2% in 2020 but rebound with 4.2% growth in 2021, returning to pre-pandemic levels by the end of 2021 as vaccines help the recovery.
2) India's economy contracted 7.5% in Q2 2020 but rebounded in Q3 2020 with a 23% quarter-on-quarter surge in GDP, showing a "V-shaped" recovery according to the finance ministry.
3) While some high-frequency indicators showed momentum slowing in November, the finance ministry remains "cautiously optimistic" about an economic revival in Q3.
- S&P retained India's sovereign rating at the lowest investment grade of 'BBB-' with a stable outlook, citing strong external settings that will act as a buffer against financial strains. However, it noted India's weak fiscal settings and consistently elevated deficits.
- The CEA expects India's economy to start growing at 6.5-7% annually from fiscal 2023 onwards, helped by COVID-19 vaccination progress and various reforms. However, the second wave impacted the recovery momentum seen in late 2020 and early 2021.
- India's exports rose 48.34% in June compared to last year, while imports increased 98.31%, leaving a trade deficit of Rs. 69,800 crore for the month.
Goldman Sachs and Moody's both revised upwards their forecasts for India's FY21 GDP contraction. Goldman revised from -14.8% to -10.3%, and Moody's from -11.5% to -10.6%. Experts estimate GDP contracted 10.2% in Q2 FY21, an improvement from the 23.9% decline in Q1, as manufacturing and agriculture output increased with government support. However, the services sector is still lagging due to continued restrictions and cautious consumer spending. Most reports indicate a continued economic recovery in Q3 and Q4 as activity normalizes further.
The document provides a weekly media update with news related to Balmer Lawrie and other public sector enterprises (PSEs) in India. Key points from the update include:
1) Moody's raised its growth forecast for the Indian economy in FY22 to 13.7% from 10.8% previously due to a faster than expected recovery in recent months.
2) India's GDP grew 0.4% in the third quarter after two consecutive quarters of decline, returning the economy to growth.
3) Business activity in India has almost returned to pre-pandemic levels according to a business resumption index, though a rise in COVID-19 cases in Maharashtra poses a near-term
SBI Research has raised its forecast for India's FY22 GDP growth to 9.3-9.6% due to wider COVID vaccination coverage and slowing case growth. HDFC Bank economists project Q2 GDP growth at 7.8% due to the low base from last year's contraction. India's crude oil production fell 2.15% in October while natural gas output rose 24.7% driven by KG-D6 fields. State-run oil companies are preparing roadmaps to achieve net-zero emissions to support India's climate commitments.
The document provides news clips from various media sources mentioning Balmer Lawrie and related industries. It discusses India's strong Q4 results beating expectations, economic recovery since late May according to RBI governor, eight core sectors growing 16.8% in May due to low base effects, manufacturing contracting for the first time in 11 months due to lockdowns, current account ending FY21 in surplus for the first time in 17 years, and stronger recovery expected post-September as vaccinations increase and festivals begin.
- Morgan Stanley cuts India's GDP growth forecast for FY23 to 7.9% from 8.4% previously, citing higher inflation and wider current account deficit due to higher global oil prices following Russia's invasion of Ukraine.
- India's post-pandemic economic recovery is progressing well but high global oil prices pose risks, says RBI board member Ashima Goyal. Surge in commodity prices may push India's current account deficit to a 13-quarter high of 2.8% of GDP in Q3 FY22.
- Several key PSE privatization transactions like BPCL, BEML, Shipping Corporation are in advanced stages and expressions of interest will be invited soon, says D
- Business activity in India hit a record high in the week ending August 8 according to Nomura's Business Resumption Index, nearing pre-pandemic levels as mobility increased.
- The finance ministry said the economic impact of the second COVID wave is likely to be muted with signs of economic rejuvenation and sustained vaccination could reduce severity of future waves.
- India's industrial production grew 13.6% in June from a year ago due to low base effects as lockdowns last year halted activity, while retail inflation eased to 5.59% in July.
- The finance ministry will seek Cabinet approval to set up a company to transfer and monetize surplus land and non-core assets of CPSEs slated for privatization. This will help monetize assets and generate value for the exchequer.
- State governments have increased capital expenditure in the first 5 months of the current fiscal year by 70% compared to the same period last year, aided by robust growth in tax revenues. Central public sector enterprises have also achieved 30% of their capex target for the full year in the first 5 months.
- The defense ministry has approved deemed contracts worth Rs. 65,000 crores for the 7 new public sector units being carved out of the Ordnance
The document provides summaries of several news articles related to the Indian economy:
1) The ADB has lowered its growth forecast for India in FY22 to 9.7% due to supply chain disruptions.
2) Despite fears of the Omicron variant, India's business activity reached a new high in the week ending December 12 according to Nomura.
3) A CEO poll by CII found that a majority of CEOs expect India's GDP growth to be between 9-10% in the current fiscal year.
The document contains news articles from various media sources covering topics related to the Indian economy and public sector enterprises from December 22nd-27th, 2020. Some key points from the articles:
- The RBI predicts that India's GDP growth may turn positive in the third quarter as the economy recovers fast from the pandemic. However, rising inflation needs to be checked.
- A think tank forecasts that India will become the fifth largest economy in 2025 and third largest by 2030, overtaking the UK both times.
- Corporate profits in India reached an all-time high in the September quarter as margins widened due to lower costs and better utilization.
- An economic research organization revised India's F
- Balmer Lawrie aims to focus on logistics and packaging businesses to leverage upcoming infrastructure projects like Bharatmala and Sagarmala. It plans to increase warehousing capabilities and set up logistics parks.
- The World Bank retained its 8.3% GDP growth forecast for India in FY22, supported by increased public investment and production-linked incentives. Inflation is expected to moderate to 7.5% in FY23.
- Ficci revised upwards India's GDP growth forecast for FY22 to 9.1% from its previous estimate of 9%, citing a resilient economic recovery.
The document provides summaries of recent news articles related to the Indian economy:
- The Asian Development Bank lowered its forecast for India's FY21 GDP growth to 10% from 11% due to disruptions from the second Covid wave, but raised its FY22 forecast to 7.5% from 7%.
- Nomura's India Business Resumption Index eased slightly but remained above pre-pandemic levels, while GDP growth is expected to rebound to 5% in Q3 and average 9.2% for FY22.
- India climbed two spots to 46th in the Global Innovation Index 2021, reflecting improvements in knowledge capital, startups, and research organizations.
This document provides a weekly media update from Balmer Lawrie, summarizing news related to the company, GOI, PSEs, and industries relevant to Balmer Lawrie's business. It includes news about the Indian economy's projected growth rate, industrial output, inflation rates, trade deficits, energy markets, and the government's disinvestment activities. The update comprises news clips from various business dailies between February 9-16, 2019.
The document provides a weekly summary of media reports related to the Indian economy from February 21-27, 2022. Some key points from the articles include:
- India's GDP growth for Q3 FY22 is estimated to be around 6% due to a waning base effect, lower than the first two quarters.
- Moody's raised its GDP growth forecast for India in 2022 to 9.5% from 7% previously, citing a stronger-than-expected economic recovery.
- India Ratings revised down its FY22 GDP growth forecast to 8.6% from the government's estimate of 9.2% due to upward revisions to previous year's GDP data.
-
The document provides news updates from various media sources related to the Indian economy. Key highlights include:
- The Economic Advisory Council to the PM estimates India's economic growth at 7-7.5% for FY23 and expects private investment to recover as capacity utilization improves.
- Business resumption in India reached a record high last week according to a private index, indicating strong festive season demand.
- The Finance Minister urged companies to increase investments and risk-taking to support India's growth ambitions.
- The government aims to complete the privatization of 5-6 PSUs including BPCL this fiscal year.
- Wholesale inflation rose to a 5-month high of 12
- India's GDP grew 1.6% in Q4 of FY21, reducing the full-year contraction to 7.3% from the earlier estimated 8%. This was still the steepest fall in at least 70 years.
- Moody's expects India's economy to rebound and grow 9.3% in FY22 but risks to the outlook have increased due to the second Covid wave, with potential longer-term credit implications.
- SBI economists sharply cut their FY22 GDP growth forecast to 7.9%, the lowest among analysts, citing a disproportionately larger impact of the second wave and uncertainty around recovery.
- Nomura expects India's GDP growth to rebound in Q3 but sees risks to growth in Q4 from supply constraints. Industrial production may contract in September and October due to chip and coal shortages.
- India's fiscal deficit in the first half of FY22 hit a 4-year low of Rs. 5.26 lakh crore, helped by strong tax revenues which were over 60% of budget estimates.
- The finance ministry has approved an 8.5% interest rate on employees' provident fund deposits for 2020-21, affecting over 6.4 crore subscribers.
The UN projects India's economy to grow by 5.7% in the current fiscal year and 6.6% next year, higher than the World Bank's forecast. India's wholesale inflation reached a 7-month high of 2.59% in December due to higher food prices. Exports declined 1.8% in December to $27.36 billion due to currency volatility and falling commodity prices. The government is seeking Rs 19,000 crore in dividend from state-owned oil companies, about 5% more than last year.
The document provides a summary of various news articles mentioning Balmer Lawrie and related topics. It discusses the World Bank cutting India's growth forecast to 5% for the current fiscal year. It also mentions a Blackstone report projecting India's economy to grow at 6% in 2020 and the Indian economy's growth hitting an 11-year low of 5% according to a CSO estimate. Further, it discusses rising budget deficits in India and Prime Minister Modi taking direct charge to address economic slowdown.
- The Indian economy is projected to contract by 4.5% in the current fiscal year according to a survey by FICCI. The survey also estimates a 14.2% contraction in the first quarter of 2020-21.
- DBS Bank sees a double-digit contraction in the Indian economy in the April-June quarter before a smaller contraction in the July-September quarter. It maintains an expectation for the economy to return to growth by the end of the fiscal year at -4.8% annual growth.
- BofA Securities estimates India's GDP will contract by 3% in FY21 assuming a full opening of the economy from next month, with the estimate rising to 5% contraction if the
The document provides an overview of recent news related to the Indian economy. It mentions that several economists estimate India's GDP growth for the second quarter of FY23 at 6.2-7.2% according to a survey, lifted by a pickup in services and government spending. It also reports that Goldman Sachs expects India's growth to slow to 5.9% in 2023 from an estimated 6.9% in 2022 as the boost from post-COVID reopening fades. Finally, it discusses the Finance Ministry's view that India is well-placed to achieve moderately brisk growth in coming years despite global headwinds, aided by domestic demand and reforms.
- Ficci survey found continued improvement in capacity utilization and sales in December for Indian businesses, though high costs and weak demand remain issues. The prospect of a Covid vaccine and government support have improved sentiment.
- A UN report said India's economy could prove the most resilient in South/Southwest Asia long-term due to positive post-pandemic growth and its large market continuing to attract investment.
- Eight core sectors contracted 2.6% in November, the ninth straight month of decline, posing concerns for policymakers. Weak core sector growth may limit industrial output growth to 0-1%.
- S&P retained India's sovereign rating at the lowest investment grade of 'BBB-' with a stable outlook, citing strong external settings that will act as a buffer against financial strains. However, it noted India's weak fiscal settings and consistently elevated deficits.
- The CEA expects India's economy to start growing at 6.5-7% annually from fiscal 2023 onwards, helped by COVID-19 vaccination progress and various reforms. However, the second wave impacted the recovery momentum seen in late 2020 and early 2021.
- India's exports rose 48.34% in June compared to last year, while imports increased 98.31%, leaving a trade deficit of Rs. 69,800 crore for the month.
Goldman Sachs and Moody's both revised upwards their forecasts for India's FY21 GDP contraction. Goldman revised from -14.8% to -10.3%, and Moody's from -11.5% to -10.6%. Experts estimate GDP contracted 10.2% in Q2 FY21, an improvement from the 23.9% decline in Q1, as manufacturing and agriculture output increased with government support. However, the services sector is still lagging due to continued restrictions and cautious consumer spending. Most reports indicate a continued economic recovery in Q3 and Q4 as activity normalizes further.
The document provides a weekly media update with news related to Balmer Lawrie and other public sector enterprises (PSEs) in India. Key points from the update include:
1) Moody's raised its growth forecast for the Indian economy in FY22 to 13.7% from 10.8% previously due to a faster than expected recovery in recent months.
2) India's GDP grew 0.4% in the third quarter after two consecutive quarters of decline, returning the economy to growth.
3) Business activity in India has almost returned to pre-pandemic levels according to a business resumption index, though a rise in COVID-19 cases in Maharashtra poses a near-term
SBI Research has raised its forecast for India's FY22 GDP growth to 9.3-9.6% due to wider COVID vaccination coverage and slowing case growth. HDFC Bank economists project Q2 GDP growth at 7.8% due to the low base from last year's contraction. India's crude oil production fell 2.15% in October while natural gas output rose 24.7% driven by KG-D6 fields. State-run oil companies are preparing roadmaps to achieve net-zero emissions to support India's climate commitments.
The document provides news clips from various media sources mentioning Balmer Lawrie and related industries. It discusses India's strong Q4 results beating expectations, economic recovery since late May according to RBI governor, eight core sectors growing 16.8% in May due to low base effects, manufacturing contracting for the first time in 11 months due to lockdowns, current account ending FY21 in surplus for the first time in 17 years, and stronger recovery expected post-September as vaccinations increase and festivals begin.
- Morgan Stanley cuts India's GDP growth forecast for FY23 to 7.9% from 8.4% previously, citing higher inflation and wider current account deficit due to higher global oil prices following Russia's invasion of Ukraine.
- India's post-pandemic economic recovery is progressing well but high global oil prices pose risks, says RBI board member Ashima Goyal. Surge in commodity prices may push India's current account deficit to a 13-quarter high of 2.8% of GDP in Q3 FY22.
- Several key PSE privatization transactions like BPCL, BEML, Shipping Corporation are in advanced stages and expressions of interest will be invited soon, says D
- Business activity in India hit a record high in the week ending August 8 according to Nomura's Business Resumption Index, nearing pre-pandemic levels as mobility increased.
- The finance ministry said the economic impact of the second COVID wave is likely to be muted with signs of economic rejuvenation and sustained vaccination could reduce severity of future waves.
- India's industrial production grew 13.6% in June from a year ago due to low base effects as lockdowns last year halted activity, while retail inflation eased to 5.59% in July.
- The finance ministry will seek Cabinet approval to set up a company to transfer and monetize surplus land and non-core assets of CPSEs slated for privatization. This will help monetize assets and generate value for the exchequer.
- State governments have increased capital expenditure in the first 5 months of the current fiscal year by 70% compared to the same period last year, aided by robust growth in tax revenues. Central public sector enterprises have also achieved 30% of their capex target for the full year in the first 5 months.
- The defense ministry has approved deemed contracts worth Rs. 65,000 crores for the 7 new public sector units being carved out of the Ordnance
The document provides summaries of several news articles related to the Indian economy:
1) The ADB has lowered its growth forecast for India in FY22 to 9.7% due to supply chain disruptions.
2) Despite fears of the Omicron variant, India's business activity reached a new high in the week ending December 12 according to Nomura.
3) A CEO poll by CII found that a majority of CEOs expect India's GDP growth to be between 9-10% in the current fiscal year.
The document contains news articles from various media sources covering topics related to the Indian economy and public sector enterprises from December 22nd-27th, 2020. Some key points from the articles:
- The RBI predicts that India's GDP growth may turn positive in the third quarter as the economy recovers fast from the pandemic. However, rising inflation needs to be checked.
- A think tank forecasts that India will become the fifth largest economy in 2025 and third largest by 2030, overtaking the UK both times.
- Corporate profits in India reached an all-time high in the September quarter as margins widened due to lower costs and better utilization.
- An economic research organization revised India's F
- Balmer Lawrie aims to focus on logistics and packaging businesses to leverage upcoming infrastructure projects like Bharatmala and Sagarmala. It plans to increase warehousing capabilities and set up logistics parks.
- The World Bank retained its 8.3% GDP growth forecast for India in FY22, supported by increased public investment and production-linked incentives. Inflation is expected to moderate to 7.5% in FY23.
- Ficci revised upwards India's GDP growth forecast for FY22 to 9.1% from its previous estimate of 9%, citing a resilient economic recovery.
The document provides summaries of recent news articles related to the Indian economy:
- The Asian Development Bank lowered its forecast for India's FY21 GDP growth to 10% from 11% due to disruptions from the second Covid wave, but raised its FY22 forecast to 7.5% from 7%.
- Nomura's India Business Resumption Index eased slightly but remained above pre-pandemic levels, while GDP growth is expected to rebound to 5% in Q3 and average 9.2% for FY22.
- India climbed two spots to 46th in the Global Innovation Index 2021, reflecting improvements in knowledge capital, startups, and research organizations.
This document provides a weekly media update from Balmer Lawrie, summarizing news related to the company, GOI, PSEs, and industries relevant to Balmer Lawrie's business. It includes news about the Indian economy's projected growth rate, industrial output, inflation rates, trade deficits, energy markets, and the government's disinvestment activities. The update comprises news clips from various business dailies between February 9-16, 2019.
The document provides a weekly summary of media reports related to the Indian economy from February 21-27, 2022. Some key points from the articles include:
- India's GDP growth for Q3 FY22 is estimated to be around 6% due to a waning base effect, lower than the first two quarters.
- Moody's raised its GDP growth forecast for India in 2022 to 9.5% from 7% previously, citing a stronger-than-expected economic recovery.
- India Ratings revised down its FY22 GDP growth forecast to 8.6% from the government's estimate of 9.2% due to upward revisions to previous year's GDP data.
-
The document provides news updates from various media sources related to the Indian economy. Key highlights include:
- The Economic Advisory Council to the PM estimates India's economic growth at 7-7.5% for FY23 and expects private investment to recover as capacity utilization improves.
- Business resumption in India reached a record high last week according to a private index, indicating strong festive season demand.
- The Finance Minister urged companies to increase investments and risk-taking to support India's growth ambitions.
- The government aims to complete the privatization of 5-6 PSUs including BPCL this fiscal year.
- Wholesale inflation rose to a 5-month high of 12
- India's GDP grew 1.6% in Q4 of FY21, reducing the full-year contraction to 7.3% from the earlier estimated 8%. This was still the steepest fall in at least 70 years.
- Moody's expects India's economy to rebound and grow 9.3% in FY22 but risks to the outlook have increased due to the second Covid wave, with potential longer-term credit implications.
- SBI economists sharply cut their FY22 GDP growth forecast to 7.9%, the lowest among analysts, citing a disproportionately larger impact of the second wave and uncertainty around recovery.
- Nomura expects India's GDP growth to rebound in Q3 but sees risks to growth in Q4 from supply constraints. Industrial production may contract in September and October due to chip and coal shortages.
- India's fiscal deficit in the first half of FY22 hit a 4-year low of Rs. 5.26 lakh crore, helped by strong tax revenues which were over 60% of budget estimates.
- The finance ministry has approved an 8.5% interest rate on employees' provident fund deposits for 2020-21, affecting over 6.4 crore subscribers.
The UN projects India's economy to grow by 5.7% in the current fiscal year and 6.6% next year, higher than the World Bank's forecast. India's wholesale inflation reached a 7-month high of 2.59% in December due to higher food prices. Exports declined 1.8% in December to $27.36 billion due to currency volatility and falling commodity prices. The government is seeking Rs 19,000 crore in dividend from state-owned oil companies, about 5% more than last year.
The document provides a summary of various news articles mentioning Balmer Lawrie and related topics. It discusses the World Bank cutting India's growth forecast to 5% for the current fiscal year. It also mentions a Blackstone report projecting India's economy to grow at 6% in 2020 and the Indian economy's growth hitting an 11-year low of 5% according to a CSO estimate. Further, it discusses rising budget deficits in India and Prime Minister Modi taking direct charge to address economic slowdown.
- The Indian economy is projected to contract by 4.5% in the current fiscal year according to a survey by FICCI. The survey also estimates a 14.2% contraction in the first quarter of 2020-21.
- DBS Bank sees a double-digit contraction in the Indian economy in the April-June quarter before a smaller contraction in the July-September quarter. It maintains an expectation for the economy to return to growth by the end of the fiscal year at -4.8% annual growth.
- BofA Securities estimates India's GDP will contract by 3% in FY21 assuming a full opening of the economy from next month, with the estimate rising to 5% contraction if the
The document provides an overview of recent news related to the Indian economy. It mentions that several economists estimate India's GDP growth for the second quarter of FY23 at 6.2-7.2% according to a survey, lifted by a pickup in services and government spending. It also reports that Goldman Sachs expects India's growth to slow to 5.9% in 2023 from an estimated 6.9% in 2022 as the boost from post-COVID reopening fades. Finally, it discusses the Finance Ministry's view that India is well-placed to achieve moderately brisk growth in coming years despite global headwinds, aided by domestic demand and reforms.
- Ficci survey found continued improvement in capacity utilization and sales in December for Indian businesses, though high costs and weak demand remain issues. The prospect of a Covid vaccine and government support have improved sentiment.
- A UN report said India's economy could prove the most resilient in South/Southwest Asia long-term due to positive post-pandemic growth and its large market continuing to attract investment.
- Eight core sectors contracted 2.6% in November, the ninth straight month of decline, posing concerns for policymakers. Weak core sector growth may limit industrial output growth to 0-1%.
The document provides a weekly media update comprising news related to the Indian economy from various sources such as Moody's, Nomura, ADB, etc. It includes summaries of news articles covering topics like GDP growth forecasts, industrial production, exports, inflation, strategic sales of PSUs, and plans for a stake sale in Coal India. The update is intended to be uploaded on the intranet and website of Balmer Lawrie every Monday.
The document provides a weekly media update containing news related to Balmer Lawrie and other public sector enterprises (PSEs) in India. It also includes news about the Indian economy. Some key points:
- India's GDP is expected to contract by a lower rate of 5-9.9% in Q2 2020 compared to a 23.9% contraction in Q1, showing a significant sequential improvement.
- Official data confirmed that India's economy contracted 7.5% in Q2 2020, entering its first recession since 1996. However, the contraction narrowed sharply from Q1 and most experts say the worst is over for the economy.
- Core sector output, which influences industrial production, fell 2
The document provides a weekly media update with news related to the Indian economy from various sources. Some key points from the articles:
1. The RBI said India's economy remains resilient and is on track to become the fastest growing in the world, despite global headwinds. Inflation is expected to moderate further if commodity prices remain stable.
2. Industrial production grew 19.6% in May, the highest in 12 months, boosted by a low base last year. However, retail inflation remained above 7% for the sixth month in a row in June.
3. While economic growth momentum is holding up, risks remain from global monetary tightening, geopolitical tensions, and rising prices.
The document provides a summary of recent news articles mentioning Balmer Lawrie and related topics. It includes reports that:
1) The IMF says the global economic outlook is gloomier than previously projected due to high inflation, China's slowing growth, and disruptions from the Ukraine war.
2) An analysis by Deloitte India estimates India will see 6.5-7.1% economic growth in the current fiscal year despite rising inflation and global slowdown risks.
3) The RBI estimates India's economy grew between 6.1-6.3% in the second quarter, putting annual growth on track to be around 7% for fiscal year 2023.
This weekly media update from Balmer Lawrie provides summaries of news related to the company, public sector enterprises, and industries relevant to Balmer Lawrie's business lines. Key stories include Fitch lowering India's GDP growth forecast and warnings of a potential global recession in 2023. Other articles cover inflation levels in India, exports and trade deficits, government measures to control inflation, and new rules requiring public sector firms to obtain approvals for asset sales to other public sector entities.
This document provides a weekly summary of media articles relevant to Balmer Lawrie and key industries. It includes several articles about Balmer Lawrie's financial performance, economic forecasts from rating agencies maintaining India's growth at 6-6.7% for 2023 and 2024 due to strong domestic demand, and industrial growth slowing to 3-month low of 5.8% in September impacted by unfavorable base effects and rainfall. It also summarizes articles on inflation coming under control, GDP growth estimates for Q2 seen above RBI's projection, and higher oil prices potentially pushing inflation higher for India in 2024.
The document provides a summary of various news articles from the week of September 15th to September 21st related to the Indian economy and Balmer Lawrie. Key points include:
- Several organizations like S&P, ADB, and OECD cut their FY21 GDP growth forecasts for India to contractions between 9-10.2% due to rising COVID-19 cases slowing economic activity.
- Inflation grew at 6.7% in August driven by higher food prices. Exports declined for the sixth straight month by 12.7% in August while imports dropped 26%.
- The World Bank expects a global economic recovery from the pandemic could take up to 5 years. A CII survey
The document provides a weekly media update comprising news related to Balmer Lawrie, GOI, PSEs and the industries Balmer Lawrie operates in. Key articles include:
1) ADB keeping India's GDP growth forecast unchanged at 7% for the current fiscal year.
2) Retail inflation moderating to an 11-month low of 5.9% in November on lower food prices.
3) WPI inflation easing to a 21-month low of 5.85% in November as pricing pressure softens.
4) Government on track to meet the FY23 fiscal deficit target of 6.4% of GDP and keep inflation within RBI's target band.
The three articles summarize the following:
1) India's economic growth is expected to outpace other major economies in the next two years, driven by domestic demand. However, rising crude oil prices and upcoming elections could pose challenges.
2) Retail inflation rose to a 15-month high of 7.44% in July due to higher food prices, breaching RBI's tolerance limit and likely prompting interest rate hikes.
3) Exports declined for the sixth straight month in July by 15.9% while imports fell 17%, helping narrow the trade deficit. The government expects exports to be higher for the full fiscal year compared to the previous year.
- The recent rise in Covid-19 cases has led to some reversal of business resumption gains in India since the second wave, according to Nomura's weekly business resumption tracker. The tracker fell to 102.9 for the week ended January 16 from 107.9 in the previous week.
- The SBI Business Activity Index also declined to its lowest level since November 15, falling to 101 for the week ended January 17 from 109 in the previous week, as new Covid cases increased in recent weeks.
- While most Indian CEOs are optimistic about stronger economic growth in 2022, ICRA notes that India's economic recovery is yet to attain the durability sought by policymakers, as the recent
This weekly media update from Balmer Lawrie provides summaries of recent news articles related to the Indian economy, GOI policies and PSEs, and Balmer Lawrie's business sectors. Key articles discuss S&P raising India's FY24 growth forecast to 6.4% due to robust domestic demand, estimates that Q2 GDP growth will be 6.7-7% driven by services and government spending, and forecasts that FY24 will see strong economic growth and macroeconomic stability according to the Finance Ministry.
The document provides summaries of several news articles related to the Indian economy:
1) Several indicators suggest India's economic recovery is strengthening, with 19 of 22 high-frequency indicators surpassing pre-pandemic levels. However, factory output growth slowed in October due to moderating manufacturing activity.
2) While global ratings agencies have lowered India's growth forecast for the current fiscal year due to Omicron risks, they expect the impact to be contained and growth to remain strong in the coming years.
3) The government plans to significantly increase capital expenditure again in the next fiscal year to further stimulate growth and job creation, according to Niti Aayog. However, concerns remain that the current growth cycle may
The IMF has lowered its GDP growth forecast for India in 2022 to 6.8% from 7.4% previously due to global headwinds. The IMF also cut its global growth forecast for 2023 to 2.7%, warning that the worst is yet to come and 2023 will feel like a recession for many. Meanwhile, India's finance minister said the Indian economy will stay on course to grow at 7% in the current fiscal backed by reforms. Retail inflation surged to 7.4% in September due to high food prices, while industrial output contracted 0.8% in August posing challenges.
India's economy grew 6.3% in Q2 FY23, in line with estimates. While services and investments drove growth, manufacturing contracted. Global agencies have lowered India's FY23 GDP growth forecasts to 6.5-7%. Core sector growth slowed to a 20-month low of 0.1% in October due to declines in crude oil, natural gas, refinery products and cement. However, GST collections rose 11% in November and various indicators like manufacturing PMI, coal production, auto sales and power consumption pointed to economic resilience. The WTO expects global exports to slow further in H2 2022 and 2023 due to multiple global headwinds.
- Goldman Sachs lowered its estimate for India's economic growth in fiscal year 2021-2022 to 11.1% due to lockdowns imposed by various states to curb the spread of COVID-19.
- India Ratings projected overall corporate revenue growth of 6% in fiscal year 2022 over fiscal year 2020, noting that supply chains have been disrupted by the second wave of the pandemic.
- Barclays cut its forecast for India's GDP growth in fiscal year 2022 to 10% from 11% previously, and warned growth could fall further to 8.8% if lockdowns continue through August.
The document provides a summary of recent news articles related to the Indian economy:
- Global economic developments are expected to complicate the outlook for the Indian economy in 2023 according to a Finance Ministry report. Continued vigilance is needed to maintain India's external resilience.
- The IMF predicts India's economic growth will moderate to 6.1% in fiscal year 2024 from 6.8% in 2023, due to high oil prices, weaker external demand, and tighter financial conditions.
- Fitch Ratings maintained India's sovereign rating at BBB- with a stable outlook, citing strong growth outlook and resilient external finances, offset by high deficits and debt relative to peers.
The summary provides an overview of key economic indicators in India:
- S&P maintained India's GDP growth forecast at 6% for 2023-2024, before rising to 6.9% in 2024-2025. Inflation is projected to ease to 5% in 2023-2024.
- The World Bank report said accelerated implementation of reforms could boost India's potential growth. Addressing financial sector issues could "unlock significant growth".
- India's core sector growth slowed to a 3-month low of 6% in February due to global economic uncertainties. Manufacturing PMI rose to a 3-month high of 56.4 in March, indicating demand resilience.
-
- India's economy is expected to grow 7% in the current fiscal year according to the first official estimates, marginally higher than some recent independent estimates. This would be lower than the government's earlier forecast of 8-8.5% growth.
- Factory and services activity in India rose to 13-month and 18-month highs respectively in December, supported by strong growth in new orders and production.
- Several Indian state-run companies including ONGC, Indian Oil, and Power Grid reported increased profits in the last fiscal year, while losses of loss-making PSUs declined.
BLOG ISSUE 45_January 2024 - Balmer Lawrie Organisational GazzettBalmerLawrie
The Buddhist monk gathered his young students and told them to steal purses from wealthy people in the nearby city to raise money for their temple. All the students were uncomfortable with this except one boy. The boy realized there was no place he could steal without seeing himself, so he told the other students not to go. The monk was pleased with this boy, as he had wanted to teach the students a lesson about integrity.
The document then discusses events at Balmer Lawrie related to observing Vigilance Awareness Week and Constitution Day. It also summarizes new partnerships, projects, and training programs launched by various divisions of the company during this period.
The document provides information on various topics happening in India and at Balmer Lawrie & Co. Ltd. in February 2024. It discusses the upcoming Indian general elections, International Women's Day theme of inclusion, National Safety Day celebrations, regional new year festivals, and Balmer Lawrie business updates including new appointments, awards received, and events/conferences hosted. The newsletter aims to keep employees informed of company and national news and events on a monthly basis.
The document discusses Balmer Lawrie's celebration of various events in February 2024 and announcements. It summarizes that Balmer Lawrie celebrated its 158th Foundation Day on February 1st across India. It also announced positive third quarter results for FY2023-24 with increased profits. The 53rd National Safety Week will be observed from March 4th-10th with programs centered on safety leadership.
Daily Media Update - 26.02.2024. This document comprises news clips from vari...BalmerLawrie
Daily Media Update - 26.02.2024. This document comprises news clips from various media in which Balmer Lawrie is mentioned, news related to GOI and PSEs, and news from the verticals that we do business in.
Weekly Media Update_19_02_2024. This document comprises news clips from vario...BalmerLawrie
Weekly Media Update_19_02_2024. This document comprises news clips from various media in which Balmer Lawrie is mentioned, news related to GOI and PSEs, and news from the verticals that we do business in.
Weekly Media Update_05_02_2024. This document comprises news clips from vario...BalmerLawrie
Weekly Media Update_05_02_2024. This document comprises news clips from various media in which Balmer Lawrie is mentioned, news related to GOI and PSEs, and news from the verticals that we do business in.
The document provides an overview of India's accomplishments in 2023 and upcoming events being celebrated in early 2024. Some key points:
- India successfully shouldered its G20 Presidency and launched various initiatives. Domestically, it achieved several milestones in space, rail, and sports.
- On January 26th, 2024, India will celebrate its 75th Republic Day.
- In early February 2024, Balmer Lawrie will celebrate its 158th Foundation Day with events being organized across various regions for employees and families.
Weekly Media Update_02_01_2024. This document comprises news clips from vario...BalmerLawrie
Weekly Media Update_02_01_2024. This document comprises news clips from various media in which Balmer Lawrie is mentioned, news related to GOI and PSEs, and news from the verticals that we do business in.
The document provides an overview of the various awards and accolades received by Balmer Lawrie SBUs and functions in the past year for their work and achievements. It recognizes the contributions of different divisions in implementing official language policies, delivering excellent customer service, health and safety practices, and developing innovative logistics solutions. The summary also highlights key business partnerships, expansion of operations, and employee engagement initiatives undertaken during the period.
Weekly Media Update - December 26, 2023 - Balmer LawrieBalmerLawrie
This document provides a weekly media update comprising news related to the Indian economy from various sources. Key highlights include:
1) Domestic rating agency Icra revised India's FY24 GDP growth forecast upwards to 6.5% from 6.2% previously.
2) The IMF projected India's economy to grow at 6.3% in the current fiscal year and the next, supported by macroeconomic and financial stability.
3) Leading credit rating firm Fitch Ratings expects India's resilient economic growth will boost corporate demand. Several sectors are expected to see strong demand.
4) Parliament approved additional spending of Rs. 58,378 crore in the current fiscal to support programs like M
BLOG ISSUE 43 _ July 2023 - Quarterly House JOurnal of Balmer LawrieBalmerLawrie
This document provides an editorial and overview of the Balmer Lawrie Start-up Fund initiative. It discusses how Balmer Lawrie launched a Start-up Fund in 2017 aligned with the Government of India's Startup India initiative to promote entrepreneurship and innovation. It highlights how Balmer Lawrie has supported various startups over four rounds of funding. The document also provides updates on significant events at Balmer Lawrie, including new partnerships and handling of logistics for sports teams.
Weekly Media Update_18_12_2023 - news clips from various media in which Balme...BalmerLawrie
- The document provides news clips from various media sources related to Balmer Lawrie and other public sector enterprises (PSEs) in India.
- It mentions that India's economic growth is projected to exceed 8% in fiscal year 2025 according to industry group FICCI. Several reports also raised India's growth projections for the current fiscal year to between 6.7-7%.
- The document is intended to be uploaded on Balmer Lawrie's intranet and website every Monday to share recent news.
Balmer Lawrie - Weekly Media Update - Monday, 11.12.2023BalmerLawrie
This document provides a weekly media update from various Indian news sources. It summarizes key news related to the Indian economy from the past week, including:
- Nomura projecting India will be one of the fastest growing Asian economies in 2024.
- S&P Global Ratings forecasting India will become the world's third largest economy by 2030.
- The Finance Ministry stating India will become a $5 trillion economy early in the 'Amrit Kaal' period to 2047.
- The RBI keeping interest rates unchanged but raising its FY24 growth forecast to 7%.
The update covers news from several economic indicators such as GDP growth, inflation rates, industrial production, and assessments from
India's GDP is projected to surpass the US to become the world's largest economy by 2052, reaching $45 trillion according to a CLSA report. By 2027, India will surpass Japan to become the third largest economy. However, CLSA expects a slowdown in India's growth until September 2024 followed by a recovery in 2025. S&P Global Ratings also projects India's GDP growth to rise to 7% by 2026, higher than China's projected 4.6% growth. The OECD forecasts India's growth slowing to 6.1% in FY2025 from an estimated 6.3% in FY2024.
The document discusses the defeat of the Indian cricket team in the ICC Cricket World Cup 2023 final against Australia. It notes that while this was disappointing for Indian fans, important life lessons can be learned from setbacks like embracing challenges positively, valuing teamwork, and improving through reflection and learning. It also provides updates about Balmer Lawrie's financial performance, observance of Vigilance Awareness Week, and personnel changes and new recruits.
- RBI governor Shaktikanta Das said that India's GDP growth for the second quarter of FY24 is likely to surpass expectations based on early indicators, and may be higher than the projected 6.5% growth.
- Growth in India's core sectors slowed to 8.1% in September, the lowest in four months, led by a 16.1% expansion in coal production.
- India's manufacturing activity fell to an eight-month low in October due to the slowest rise in new orders in a year, while services activity declined to a seven-month low due to softer increases in output and orders.
Top 10 AI Trends to Watch in 2024 with Intelisyncnehapardhi711
As we advance further into the digital age, artificial intelligence (AI) continues to evolve, shaping various industries and aspects of our daily lives. The advancements in AI for 2024 promise significant transformations across multiple sectors. From agentic AI and open-source AI to AI-powered cybersecurity and sustainability, these trends highlight the growing influence of AI on our world. By staying informed and embracing these trends, businesses and individuals can harness the power of AI to innovate and thrive.
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Customer Service Bots: Advanced chatbots handle complex customer queries, provide solutions, and escalate issues to human agents when necessary.
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Open-source AI involves freely available source code, encouraging developers to collaborate, use, adapt, and share AI technology. This openness fosters innovation and speeds up the development of practical AI solutions across various sectors, including healthcare, finance, and education.
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The collaborative nature of open-source AI promotes transparency and facilitates continuous improvement, leading to feature-rich, reliable, and modular solutions. These platforms enable the creation of applications such as real-time fraud detection, medical image analysis, personalized recommendations, and customized learning experiences.
Examples and Use Cases of Open Source AI
TensorFlow: An open-source machine learning framework by Google, widely used for building and deploying AI models.
Advertising and Promotion of whisper by Sakthi Sundarsakthisundar2001
This presentation is an invaluable resource for marketing professionals, students, and anyone interested in understanding the dynamics of effective advertising and promotion in the feminine hygiene sector. Explore how Whisper maintains its brand leadership and continues to innovate in a competitive market.
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Explore the potential of Facebook marketing with SNJ Global Services. We specialize in targeted ad campaigns and engaging content strategies to enhance your brand's visibility and drive conversions. Discover more about our solutions at SNJ Global Services:
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Advanced Storytelling Concepts for MarketersEd Shimp
Every marketer knows you’re supposed to tell a story, but do you know how to tell a story? Do you know why you’re supposed to tell a story? Do you even truly know what a story is? While many marketing presentations emphasize the value of mythic storytelling, the nuts and bolts of actually constructing a story are never explored.
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• Rhetoric – The art of effective communication
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• Aristotle’s Six Dramatic Elements – The secret recipe for marketing stories
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Weekly media update 21 12_2020
1. 70
(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on
intranet and website every Monday.)
Balmer Lawrie in News
WEEKLY MEDIA UPDATE
Issue 481
21 December, 2020
Monday
Mint –
15.12.2020
UT Today –
12.12.2020
3. Business activity hits another post-
lockdown high: Nomura
Business activity in India surged to another post-
lockdown high, with the Nomura India Business
Resumption Index (NIBRI) hitting 92.9 for the
week ended December 13. The weekly tracker
gained strongly from 89.6 recorded in the previous
week, Nomura said in a note on Monday. “The
NIBRI has been racing ahead in recent months,
with a 4.4 pp (percentage point) jump in
November and December tracking at ~4.6 pp
higher than November levels,” Nomura
economists Sonal Varma and Aurodeep Nandi said
in the note. Mobility remained strong as evidenced
by Google’s workplace and retail and recreation
mobility indices, along with Apple’s driving index,
the note said. India’s labour participation rate
remained stable at 41.8% compared with 41.9%
a week earlier, while power demand rose 1.9%
following a 0.4% decline in the preceding week, it
said. Nomura expects the benefits of post-
lockdown normalisation and festive pent-up
demand, what it earlier termed as ‘residual’ festive
mobility and demand, to continue.
The Economic Times - 15.12.2020
https://epaper.timesgroup.com/Olive/ODN/TheEc
onomicTimes/shared/ShowArticle.aspx?doc=ETK
M%2F2020%2F12%2F15&entity=Ar01311&sk=2
926B5E0&mode=text
Crisil projects slower FY21 GDP
contraction at 7.7%
Rating agency Crisil has projected a slower
contraction of 7.7% for the Indian economy in
the ongoing fiscal, compared to 9% forecast in
September on the back of “faster-than-
expected” recovery in the second quarter, but
called for more fiscal measures to sustain it. The
agency expects the growth to bounce back to
10% in FY22 led by a very weak base and global
rising tide effect, but added that the permanent
loss to the economy would be 12% in real GDP
terms. “Our forecast for fiscal 2021 thus
remains predicated on the pandemic’s
trajectory and, importantly, what the
government does to stimulate a well-rounded
recovery in the coming months,” Crisil said in a
report released on Monday. The second quarter
print of -7.5% prompted a recalibration of the
S&P Group firm’s previous estimate. “Pent up
demand, support from agriculture and select
export sectors, and cost savings for corporates
engineered this recovery,” the report said. Crisil
emphasised that the direct fiscal spending
component of the government's existing
stimulus package was inadequate to galvanise
demand and it expected further support soon.
The Economic Times - 15.12.2020
https://epaper.timesgroup.com/Olive/ODN/Th
eEconomicTimes/shared/ShowArticle.aspx?doc
=ETKM%2F2020%2F12%2F15&entity=Ar0130
2&sk=D687F172&mode=text
SBI research rejigs FY21 contraction
forecast
State Bank of India (SBI) Research has tempered
its projection of India’s FY21 growth contraction to
S&P Raises India GDP Forecast To
7.7% Contraction In FY21
S&P Global Ratings on Tuesday raised India’s
growth projection for the current financial year
Vartaman Pravah – 14.12.2020
4. 7.4% from -10.9% earlier on the back of
acceleration seen in many high-frequency
indicators. Over half or about 58% of 41 indicators
in its nowcasting model, such as revenue earning
of freight traffic, weekly food arrival and petrol and
diesel consumption showed acceleration in the
third quarter, the report released on Wednesday
said. The state-run lender’s research wing also
lowered its estimate of this year’s fiscal deficit to
8% of gross domestic product (GDP) from 10.3%
before, to reflect the compression in government
expenditure in the current and previous quarter,
according to the report. While the model estimates
marginal positive growth in the ongoing quarter at
0.1%, FY22 would see 11% growth, primarily due
to the base effect, it said. The revision aligned its
forecast with that of the Reserve Bank of India
(RBI) and the market’s revised projection post-
Q2, but the report noted that its projections were
predicated on the absence of another wave of
infections. The RBI raised its forecast for FY21
growth to -7.5% from -9.5% earlier while global
rating agency S&P revised its expectations of
India’s FY21 GDP contraction to -7.7% from -9%
before.
The Economic Times - 17.12.2020
https://epaper.timesgroup.com/Olive/ODN/TheEc
onomicTimes/shared/ShowArticle.aspx?doc=ETK
M%2F2020%2F12%2F17&entity=Ar00815&sk=2
BD5BBF1&mode=text
to -7.7% from -9% estimated earlier on rising
demand and falling Covid-19 rates. For the next
financial year 2021-22, S&P projected growth to
rebound to 10%. Its revision in growth forecast
for the current fiscal reflects a faster-than-
expected recovery in the September quarter.
"Rising demand and falling infection rates have
tempered our expectation of Covid-19's hit on
the Indian economy. S&P Global Ratings has
revised real GDP growth to negative 7.7% for
the year ending March 2021, from negative 9%
previously," S&P said in a statement. A faster
recovery keeps more of the economy's supply
side intact and can set India up for more
prolonged above-average growth during the
recovery phase, it added. India's gross
domestic product fell 7.5% in the July-
September quarter, against a contraction of
23.9% in the April-June quarter. Earlier this
month, Fitch Ratings also revised its growth
forecast for India to -9.4%, from -10.5%, on
signs of economic revival, while the Asian
Development Bank said the economy is likely to
contract 8% as against the earlier forecast of
9% contraction, on faster recovery.
Bloomberg Quint - 16.12.2020
https://www.bloombergquint.com/business/s-
p-betters-india-growth-forecast-to-7-7-this-
fiscal
Indian economy should be back on track,
hoping for robust growth in 2021: DEA
Secretary
Economic Affairs Secretary Tarun Bajaj on Friday
assured investors that the pace of reforms would
continue in the coming months, including in the
upcoming Budget. Talking about the state of the
economy, he said the central bank has indicated a
slight positive growth both in the third and fourth
quarters of the current financial year. The Indian
economy had contracted by an unprecedented
23.9 per cent during the first quarter of this fiscal
due to the impact of the coronavirus pandemic.
However, the pace of contraction narrowed in the
second quarter to 7.5 per cent. On revenue
mobilisation, Bajaj said, "the advance taxes
numbers have also been better than what we had
anticipated, and now the shortfall of total revenue
that we have has actually come down as compared
to the second quarter...or as compared to
September 15 when the second advance taxes had
come." Agriculture has done better-than-
anticipated and has been the real green shoot, he
pointed out. "All in all, we are hoping that the
economy should be back on track and we are
hoping for a good robust growth in the next year
obviously because of the low base effect also," he
added.
CPI at 3-month low, WPI at 9-month
high
Retail inflation dropped to a three-month low at
6.93% in November but stayed above the
central bank’s upper margin of 6% yet again,
ruling out any immediate easing in rates. Food
inflation cooled last month, driven by a fall in
vegetable inflation. Separately released data on
Monday showed India’s wholesale inflation
firming to a 9-month high of 1.55% driven by
manufactured items while that in vegetables
declined. Retail inflation, based on the
consumer price index (CPI), was a six year high
of 7.61% in October. Inflation in food and
beverages dropped to 8.76% in November from
10.16% in the previous month, data released
by the Ministry of Statistics and Programme
Implementation showed. Vegetable inflation fell
to 15.63% in November compared to 22.5% in
October as prices of onions, potato and tomato
shot up. “The headline CPI inflation for
November printed appreciably lower than our
expectations, benefiting from stable vegetable
prices at the retail level. While this provides
welcome relief, it is unlikely to prove adequate
for any imminent rate easing,” said Aditi Nayar,
principal economist at ICRA. However, core
inflation rose further to the highest in nearly two
5. The Economic Times - 20.12.2020
https://auto.economictimes.indiatimes.com/news
/industry/indian-economy-should-be-back-on-
track-hoping-for-robust-growth-in-2021-dea-
secretary/79820499
years at 5.51% in November compared to
5.46% in October.
The Economic Times - 15.12.2020
https://epaper.timesgroup.com/Olive/ODN/Th
eEconomicTimes/shared/ShowArticle.aspx?doc
=ETKM%2F2020%2F12%2F15&entity=Ar0130
9&sk=4F9DE580&mode=text
India's exports dip 8.74% in Nov; trade
deficit narrows to $9.87 bn
India’s outbound shipments contracted for the
second consecutive month in November after
recording positive growth just for a month in
September, as the second wave of the coronavirus
pandemic hit consumer demand in India’s largest
markets in Europe. Exports fell 8.7% while imports
contracted 13.3%, resulting in a 10 month high
trade deficit of $9.9 billion, according to revised
trade data released by the commerce ministry.
China’s exports, in contrast rose 21.1% in
November, the fastest growth since February
2018, while imports grew 4.5%, leading to a
record trade surplus of $75.4 billion. Major Indian
export items that dragged down growth include
petroleum products (-59.7%), engineering goods
(-8.1%), chemicals (-8.1%), readymade
garments (-1.2%) while pharmaceuticals
(11.1%), gems & jewellery (4.1%), electronic
goods (1%) registered positive growth. Items that
drove imports and trade deficit include non-
ferrous metals (9.1%), chemical products
(36.1%), electronic goods (12.3%), fertilizers
(29.3%) and gold (2.7%).
Mint - 16.12.2020
https://www.livemint.com/news/india/india-s-
exports-dip-8-74-in-nov-trade-deficit-narrows-
to-9-87-bn-11608038748879.html
Govt to push investment, strategic sale
Finance minister Nirmala Sitharaman said on
Thursday that the government had taken
several measures to support the economy, and
will continue with public investment, while
pressing ahead with strategic sale of state-run
companies. Several economists have suggested
that the government needs to support economic
revival for which Sitharaman had said that
stimulus of close to Rs 30 lakh crore had been
provided by the Centre and the RBI. Addressing
the annual general meeting of the Indian
Chamber of Commerce (ICC), the finance
minister also said that no amount of
intervention will be adequate to deal with the
crisis triggered by the Covid-19 pandemic.
While pointing to clear signs of economic
revival, the FM said there was interest from
global investors, given that India had strong
fundamentals, along with a stable government
and the ability to push through reforms. She
said the reforms have helped generate
significant interest from overseas investors. “A
lot of sovereign funds and pension funds are
keen to come to India.
The Times of India - 18.12.2020
https://epaper.timesgroup.com/Olive/ODN/Ti
mesOfIndia/shared/ShowArticle.aspx?doc=TOI
KM%2F2020%2F12%2F18&entity=Ar01502&s
k=4FB23C87&mode=text
EPFO net new enrolments rises 56% to
11.55 lakh in October
Net new enrolments with retirement fund body
EPFO rose by 56 per cent to 11.55 lakh in October
compared to 7.39 lakh in the same month last
year, according to its latest payroll data, providing
a perspective on formal sector employment amid
the coronavirus pandemic. The net payroll
additions, however, have registered a slight dip in
October compared to 14.19 lakh in September this
year, according to a statement by the Labour
Ministry. Provisional payroll data released by the
EPFO last month had shown that net new
enrolments stood at 14.9 lakh in September this
year. Latest data released on Sunday showed that
net new enrolments in April were in the negative
zone at (-) 1,79,685 against the figure of (-)
1,49,248 released in November. This means that
the number of members who exited the EPFO
World faces long-term oil supply gap
despite COVID demand destruction
Inadequate investment in exploration and new
drilling may leave the world without enough oil
in 20 to 30 years despite a shift towards
renewable power sources, top energy analysts
say. The long-term outlook contrasts with
today's situation where plunging oil demand
due to the coronavirus crisis has left the market
oversupplied, prompting the Organization of the
Petroleum Exporting Countries, Russia and their
allies, a group known as OPEC+, to curb output.
Weak demand has piled pressure on producers
and energy majors as they seek to pivot to low-
carbon energy. It has sapped them of funds to
invest in new oil assets so they can meet an
expected rise in crude demand as the global
economy recovers. The Paris-based
International Energy Agency said it was not
6. subscription was more than those who joined or
rejoined the scheme. Earlier in July, provisional
data had shown net new enrolments for the month
of April stood at 1 lakh, which was revised down
to 20,164 in August and further lowered to (-)
61,807 in September and (-) 1,04,608 in October.
Moneycontrol - 20.12.2020
https://www.moneycontrol.com/news/business/e
conomy/epfo-net-new-enrolments-rises-56-to-
11-55-lakh-in-october-6250421.html
clear if adequate investment in oil supplies "will
come in time and, if it does come, where it will
come from." Sufficient long-term oil supplies
"should not be taken for granted," it wrote in its
annual outlook.
The Economic Times - 17.12.2020
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/world-faces-long-term-oil-
supply-gap-despite-covid-demand-
destruction/79758166
India's petrol sales up 10 per cent in
December so far, diesel lags
India’s petrol consumption spiked 9.5% in the first
fortnight of December from a year ago but diesel
demand still ran 5% short of the pre-pandemic
days, indicating the economy is yet to come out of
the woods. Data shows diesel sales of public sector
retailers, who command about 90% of the market,
rose 1.6% in the first fortnight of December from
the same period of November. Diesel
consumption, one of the barometers of economic
activity, had fallen 7% from the year-ago period
in November after shooting past the pre-pandemic
level for the first time in eight months in October,
clocking a 6% year-on-year growth. In contrast,
petrol demand jumped more than 9.5% over the
year-ago period on the back of a 4% increase in
passenger car sales in November.
The Economic Times - 17.12.2020
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/indias-petrol-sales-up-10-per-
cent-in-december-so-far-diesel-lags/79771232
Covid-19 sparks gas boom in India
with oil refiners at full tilt
India hasn’t put the pandemic behind it, but its
oil refineries have. Three state-run processors
including Indian Oil Corp., the nation’s top
refiner, are currently operating at close to 100%
capacity or higher, according to people with
knowledge of the matter. Behind the recovery
is strong demand for gasoline and liquefied
petroleum gas as many opt to drive their own
cars over taking public transport and cook at
home to avoid restaurants. The situation in the
world’s No. 2 oil market follows a full rebound
in top consumer China, and underscores how
Asian markets are leading crude’s rally even as
vaccines offer hope for a wider revival. The
uneven nature of India’s recovery shares
similarities with its neighbour’s revival --
gasoline use in both nations spiked when people
returned to work -- while demand for diesel in
the still-flagging South Asian economy lagged
that of China.
Mint - 17.12.2020
https://www.livemint.com/industry/energy/cov
id-19-sparks-gas-boom-in-india-with-oil-
refiners-at-full-tilt-11608162916212.html
India plans USD 60-bn investment in gas
infrastructure: Pradhan
Petroleum Minister Dharmendra Pradhan on
Thursday said the government has planned a USD
60-billion investment for creating gas
infrastructure in the country till 2024, and gas'
share in the energy mix is expected to rise to 15
per cent by 2030. Currently, gas accounts for 6
per cent in the country's total energy mix.
Speaking at Assocham Foundation Day Week
2020, the minister said, "On the investments
front, we have envisaged a spend of USD 60 billion
in creating gas infrastructure till 2024, including
for pipelines, LNG terminals and CGD (city gas
distribution) networks." He further told, "We are
ushering a gas-based economy by increasing the
share of natural gas in India's primary energy mix
from 6.2 per cent to 15 per cent by year 2030."
India's first automated national-level gas trading
platform was launched in June this year to
Govt vows to end ‘energy poverty’: Oil
minister Dharmendra Pradhan
India, one of the world’s top energy consumers,
is preparing a road map to achieve
Aatmanirbhar Urja or self-reliance in energy,
petroleum and natural gas minister
Dharmendra Pradhan said on Thursday. India,
one of the world’s top energy consumers, is
preparing a road map to achieve Aatmanirbhar
Urja or self-reliance in energy, petroleum and
natural gas minister Dharmendra Pradhan said
on Thursday. India—the world’s third-largest
crude oil importer and the fourth-largest
importer of liquefied natural gas (LNG)—has set
a target of reducing its oil dependence by 10
percentage points to 67% (based on import
dependence of 77% in 2014-15) by 2022.
Pradhan said India now consumes just 6% of
the world’s primary energy. “Our per capita
consumption of energy is about 40% of the
7. promote and sustain an efficient and robust gas
market and foster gas trading in the country.
Coverage of CGD projects are being expanded to
232 geographical areas spread over 400 districts,
with potential to cover about 53 per cent of the
country's geography and 70 per cent of
population, he added.
The Economic Times - 17.12.2020
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/india-plans-usd-60-bn-
investment-in-gas-infrastructure-
pradhan/79777449
global average. This, however, is rapidly
changing," he said. Every dollar per barrel
increase in crude prices inflates India’s oil
import bill by ₹10,700 crore on an annualized
basis. This can sharply impact the government’s
finances and its efforts to control inflation and
revive economic growth.
Mint - 18.12.2020
https://www.livemint.com/industry/energy/ind
ia-developing-roadmap-for-self-reliance-in-
energy-oil-minister-pradhan-
11608196885821.html
ONGC begins production in Bengal basin,
making it India's eighth functional
Oil and Natural Gas Corporation (ONGC) Limited
has begun crude oil production from the
Asokenagar-1 well, Bengal Basin in 24 Paragana
district. This has made the Bengal basin India’s
eighth producing basin, joining the ranks of
Krishna-Godavari (KG), Mumbai Offshore, Assam
Shelf, Rajasthan, Cauvery, Assam-Arakan Fold
Belt and Cambay. A company statement said, “The
Asokenagar-1 well was completed as an oil
producer under Early-Monetization Plan issued by
the Government of India. This makes ONGC
having discovered and put to production seven out
of the eight producing basins of India covering 83
percent of established oil and gas reserves.”
According to the Directorate General of
Hydrocarbons, there are 26 sedimentary basins in
India, covering a total area of 3.4 million square
kilometer. Of these, 16 are onland basins, 7
located both onland and offshore and 3 completely
offshore. ONGC said that it is had sent its first
hydrocarbon consignment produced during well
testing to Indian Oil Corporation Limited’s Haldia
Oil Refinery on November 5, 2020. This producing
basin was dedicated to the nation by Minister for
Petroleum and Natural Gas, Dharmendra Pradhan
on Sunday.
Business Standard - 21.12.2020
https://www.business-
standard.com/article/companies/ongc-begins-
production-in-bengal-basin-making-it-india-s-
eighth-functional-120122000495_1.html
Entry of big pvt equity players set to
heat up BPCL takeover
Covid inflicted doubts over the sell-off process
for BPCL has now given way to the prospect of
heated competition among all interested parties
driving up valuation for the state-run refiner.
According to analysts, the entry of marquee
private equity players Apollo and I Squared,
having experience in the energy sector, in the
BPCL disinvestment process has given new
dimension to the whole exercise. Apollo is a
major player with a $77 billion private equity
portfolio, and an energy-savvy investor. Among
its most notable investments, Apollo acquired
LyondellBasell (RIL was also interested) under
bankruptcy in CY09, which yielded 6X returns
when they exited in CY14 for $12 billion. I
Squared, though smaller with $13 billion asset
under management (AUM), is also a focused
player in energy and utilities, and has generated
30-40 per cent CAGR returns in certain
investments in the sector. These two are
expected to heat up competition along with
Vedanta which has also put its hat in BPCL
disinvestment and plans to aggressively to take
control of the prized fuel refiner.
The Economic Times - 18.12.2020
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/entry-of-big-pvt-equity-
players-set-to-heat-up-bpcl-
takeover/79789356
BPCL to consider buying Oman Oil stake
in Bina refinery
Privatisation-bound Bharat Petroleum Corporation
Ltd (BPCL) has said its board will on Thursday
consider buying out Oman Oil Company in the Bina
refinery project in Madhya Pradesh. BPCL board
will also consider merging Bharat Gas Resources
Ltd(BGRL) with itself, the company said in a filing
to the stock exchanges on Tuesday. BPCL holds
63.68 per cent stake in Bharat Oman Refineries
Ltd (BORL), which built and operates a 7.8 million
Indian companies' oil & gas output
from overseas fields drops 11%
Output of Indian companies from overseas oil
and gas fields has fallen 11 per cent so far this
year on the natural decline in fields, production
cuts by Russia and the UAE to meet OPEC plus
supply reduction commitments, and pandemic-
induced capex delays. The output declined to
12.8 million metric tonnes of oil equivalent
(mmtoe) during April-October this year from
14.4 mmtoe in the same period last year.
8. tonne oil refinery at Bina in Madhya Pradesh. The
company board will on December 17 "consider a
proposal for according 'in-principle' approval" for
"acquisition of 36.62 per cent of equity shares in
BORL from OQ S.A.O.C. (formerly known as Oman
Oil Company S.A.O.C.)," it said. This would
amount to the acquisition of 88.8 crore equity
shares from OQ. The board would also consider a
proposal to approach the Madhya Pradesh
government for acquiring 2.69 crore warrants held
by it in BORL. The meeting would also consider
"merger of Bharat Gas Resources Ltd (a wholly-
owned subsidiary of BPCL) with BPCL," the filing
said. BPCL incorporated BGRL for handling the
natural gas business in June 2018.
The Economic Times - 15.12.2020
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/bpcl-to-consider-buying-oman-
oil-stake-in-bina-refinery/79741049
India’s domestic production of oil and gas has
also fallen 9 per cent in the same period.
“Principally, some major international projects
of ONGC Videsh have been impacted by host
governments being members of OPEC+ group
of countries and complying to agreed-upon
production cuts. Due to this factor, production
has been affected at Vankor in Russia, Lower
Zakum in UAE, ACG Azerbaijan and GPOC
project in South Sudan,” ONGC Videsh, the
overseas arm of state-run Oil and Natural Gas
Corp, said in an emailed response to ET’s query.
The Economic Times - 18.12.2020
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/indian-companies-oil-gas-
output-from-overseas-fields-drops-
11/79789042
Anil Agarwal eyeing Indian
disinvestment program with a $10 bn
war chest
Commodities tycoon Anil Agarwal is planning to
invest $10 billion through a new partnership
targeting government privatisations in India. The
billionaire is teaming up with London-based
Centricus Asset Management Ltd. to seek
investments in Indian companies offering
substantial growth opportunities, according to a
statement Thursday. They will look to turn around
companies being sold off as part of the country’s
Rs 2.1 trillion ($29 billion) divestment program.
Agarwal made a fortune buying state companies
and fixing them up, building a metals and mining
powerhouse under the umbrella of Vedanta
Resources Ltd. He’s now seeking to repeat that
success, betting he can spot gems among the
dozens of companies being put on the block by
Prime Minister Narendra Modi’s administration.
The entrepreneurial dynamism in India “can be
harnessed to unlock incredible transformation in
the public sector,” Agarwal said in the statement.
“We believe that this strategy can, and will, play a
crucial role in the country’s ongoing
industrialization.”
Business Standard - 18.12.2020
https://www.business-
standard.com/article/companies/vedanta-s-anil-
agarwal-looks-to-invest-10-bn-via-govt-
privatisation-deals-120121700390_1.html
RIL, BP start production at Asia’s
deepest gas field
Reliance Industries Ltd (RIL) and BP Plc on
Friday said production has started from the R-
Cluster, an ultra-deep-water gas field in the KG
D6 block, off the east coast of India. Billed as
Asia’s deepest offshore gas field with water
depth of more than 2,000 metres, the field was
initially expected to start production in June but
the covid-19 pandemic delayed those plans. RIL
and. its partner, London-based BP, had in June
2017 announced an investment of ₹40,000
crore in three sets of gas discoveries to reverse
flagging production in the KG D6 block. These
are R-Cluster, Satellite Cluster and MJ field. R-
Cluster is the first to come on stream. RIL said
these clusters combined are expected to meet
15% of India’s gas demand by 2023. “This is a
significant milestone in India’s energy
landscape, for a cleaner and greener gas-based
economy. Through our deep-water
infrastructure in the Krishna Godavari basin, we
expect to produce gas and meet the growing
clean energy requirements of the nation,"
Mukesh Ambani, chairman and managing
director, RIL, said.
Mint - 19.12.2020
https://www.livemint.com/companies/news/ril
-bp-announce-first-gas-from-asia-s-deepest-
gas-field-11608289831495.html
Air travel picks up in November
Domestic air passenger travel is showing signs of
picking up with the passing of each month. On a
month-on- month basis, it showed an
improvement with 39.43 lakh and 52.71 lakh
people opting for air travel in the country in
GAIL (India) announces appointment
of director
GAIL (India) announced the appointment of
Usha Suresh, Senior Economic Advisor,
MoP&NG on the Board of Directors of GAIL
(India) Limited w.e.f. 10 December 2020 for a
9. September and October, respectively. However,
year-on-year, the numbers are still lower — 51 per
cent down at 63.54 lakh passengers in November
compared with the corresponding period last year,
the aviation regulator said on Friday. While IndiGo
carried 34.23 lakh passengers in November, a
53.9 per cent share of the total domestic market,
SpiceJet flew 8.4 lakh passengers, which is a 13.2
per cent share of the market, according to data
shared by the DGCA. The occupancy rate at
SpiceJet was 77.7 per cent in November. For
IndiGo, Vistara, GoAir, Air India and AirAsia India,
the rate was 74 per cent, 70.8 per cent, 70.8 per
cent, 69.6 per cent and 66.3 per cent,
respectively.
The Telegraph - 19.12.2020
https://www.telegraphindia.com/business/air-
travel-picks-up-in-november/cid/1801014
period of 3 years on co-terminus basis or until
further orders, whichever is earlier.
Business Standard - 15.12.2020
https://www.business-
standard.com/article/news-cm/gail-india-
announces-appointment-of-director-
120121200438_1.html
Somnath Nandi assumes charge as Director (Technical) of NMDC
Somnath Nandi assumed charge as Director of (Technical) of NMDC Limited, the country's largest iron
ore producing Navratna PSU under the Ministry of Steel, on Friday. Prior to joining NMDC Limited, he
was Executive Director, heading Environment Management Division and Growth Division at SAIL,
Kolkata. According to an earlier order from the Department of Personnel & Training (DoPT), he has
been appointed to the post for with effect from December 18, till the date of his superannuation i.e.
December 31, 2022, or until further orders, whichever is earlier.
PSU Watch - 18.12.2020
https://psuwatch.com/somnath-nandi-assumes-charge-as-director-technical-of-nmdc