Budget target breach signals more blowout this year

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THE ECONOMIC TIMESDaily Newsletter Mon, Jun 01, 2020 | 05:21 PM IST

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Top stories of the day India's budget target breach signals further blowout this year The deterioration in government's finances follows a protracted period of economic slowdown that hurt revenue collect... Cabinet Decisions: Turnover limits for MSMEs raised, Kisan Credit card for farmers India's May jobless rate at 23.48%, says private think-tank CMIE Manufacturing activity shrinks again in May, PMI at 30.8 Auto industry capex falls by a staggering Rs 26,000 crore in FY20 Petrol sales down 36.5%, diesel down 31% in May; improves from April No Dabur, Nestle at CAPF canteens in swadeshi push Hyundai sales decline 79 per cent in May

Debate This India should forget catching up with China in growth. Agree? The GDP numbers for both Q4 and full-year FY20 are out. Although Q4 saved India the blushes by beating most forecasts, it could not save FY20 from becoming the worst year in eight. Considering the fact that the lockdown affected only seven days of Q4, the omens appear even more awful for Q1 of FY21, the better part of which has already gone to waste. So, bye bye, double-digit growth dream?

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Top Gainers NSE 34 companies (largecap) appreciated more than 5% IDBI Bank 19.85% Piramal Ent. 14.85% More from Gainers Top Losers NSE 1 company (largecap) price decreased more than -3% The New India Assurance Company Ltd. -3.15% More from Losers

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