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#3. Slowdown in Manufacturing, Services and Overall Economy; Downward Revisions in GDP Growth Forecasts; Job Losses; Drop in Exports/Forex Reserves and a Shortfall in Revenues were some of the topics that dominated the Negative Media coverage for India. (3/3)
#COVID19 Impact: #India Witnesses A Significant Drop in Economic News Sentiment
#1. India received extremely Negative Media Coverage around the health of the economy amid the coronavirus crisis and the lockdown to tackle pandemic.
#NewsAnalytics#SentimentAnalysis#Economy (1/3)
#COVID19: Developed Countries to Absorb Economic Shock Sooner than Developing Nations
https://t.co/bnvcjjsj2b
Though developing countries have not witnessed major casualties, #economicshock will have devastating impact on both the formal and informal sectors of the #economy.
Interim Finance Minister #PiyushGoyal is scheduled to address customary post Budget meeting with #RBI board on February 9 to highlight the key points of #interimbudget2019
"While the government's growth assumptions appear reasonable, we think the government will continue to face challenges in meeting its fiscal targets, primarily due to structural increases in spending and difficulties in raising revenue further," -MD,Sovereign Risk@MoodysInvSvc
"Longer term #fiscal trends are more important to the #sovereign rating profile, and we will evaluate these in the context of the post-election budget, which should provide additional guidance on the #mediumterm outlook," - Head of Asia-Pacific Sovereigns, @FitchRatings
"Our views have not changed on the ratings side. #Creditprofile for India has not been materially altered in any meaningful way from the #Budget2019. There's significant gap in #debttoGDP & India’s credit profile has to improve to support higher rating in the future"- VP #Moodys
"The increase in net borrowing by INR 50,000 cr is slightly negative for #bondyields but it should be seen in the context of the ongoing vigorous #bond purchases by the #RBI under #OMO"- @ARWealth#BudgetSession2019
"There may be a shortfall of around INR 17,000 cr in #fuel subsidy for #FY19 v/s the subsidy of INR 24,833 crore (RE), including other #nonfuel subsidies. the shortfall in #subsidy could be around INR 7,000 cr if the #crude pr & INR/USD were to be $70/bbl and 72 - senior VP,#ICRA
@ARWealth - MRTS/Metro : The government is likely to undershoot its #targetedoutlay for 2018-19, but 2019-20 BE suggests optimism. The budget
proposes an outlay of ~INR 185 cr, down ~11% on the budgeted
estimate for 2018-19 and up ~18% on the revised estimate. #Budget2019
The ceiling of Employees' State Insurance’s (#ESI) eligibility cover has been increased from INR 15,000/month to INR 21,000/month. #Budget2019#BudgetSession2019
"As far as #RBI is concerned, we believe the budget pushes back possibility of #ratecut in near future and expect RBI to highlight potential upside risk to #inflation on account of slip in #fiscal." - Senior Fund Manager (Fixed Income), @TataMutualFund