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Economy, Indiaeconomic slowdown, India, Inflation

India’s WPI inflation rises 0.16% in August on costlier food, manufactured items

After remaining in the negative territory for four straight months, India’s Wholesale price index based (WPI) inflation rose 0.16 percent in August as food items and manufactured products turned costlier, official data showed on Monday. “The annual rate of inflation, based on monthly WPI, stood at (0.16%) (Provisional) for the month of August, 2020 (over August, 2019) as compared to 1.17% during the corresponding month of the previous year,” the commerce and industry ministry said in a statement. The WPI inflation in April was at (-) 1.57…

Consumer confidence collapses to historic low in May, says RBI survey

A survey released by the Reserve Bank of India (RBI) has showed that consumer confidence has collapsed to historic low amid the coronavirus pandemic. "Consumer confidence collapsed in May 2020, with the Current Situation Index (CSI) touching historic low and the one year ahead Future Expectations Index (FEI) also recording a sharp fall, entering the zone of pessimism," as per the Consumer Confidence Survey (CCS) released by the RBI. According to the CCS, consumer perception on the general economic situation, employment scenario and household income plunged deeper…

India’s economic growth slows to 3.1% in January-March amid COVID-19 crisis

India's economic growth slowed to 3.1 percent in the fourth quarter of the financial year 2019-2020, according to data released by National Statistical Office (NSO) on Friday (May 29) amid ongoing COVID-19 pandemic. The government had imposed a lockdown to curb the spread of coronavirus infections from March 25, 2020. Notably, the Indian economy got impacted during the January-March quarter due to slowing down economic activities across the world. The economic growth was the lowest since 2008-09 when the economy had expanded at 3.1 percent. The NSO…