Moody's says India's growth is naught happening this fiscal

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THE ECONOMIC TIMESDaily Newsletter Fri, May 08, 2020 | 06:09 PM IST

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Top stories of the day Moody's sees 'zero' economic growth for India in FY21 The agency says prospects of further reforms to support business have diminished.... Cornered Frankin Templeton says sorry to Sebi India braces for the cost of costly labour Consumer firms are kissing Diwali goodbye Under lockdown, Mukesh Ambani is a man on a mission A tax breather soon for expats stuck in India Pradhan hints at new gas policy, says low oil prices no answer Where are FIIs? Ask NBFCs & North Block

Debate This Now debating: Should India consider home delivery of liquor? When medical experts say liquor sales should be intelligently regulated, so that demand can be met and crowding avoided, governments should listen. Home delivery from shops and online purchases must be allowed immediately. It's baffling why most states are dithering on this, since they need the revenue. And as the experts said, regulated liquor sales could have continued through the lockdown, and we wouldn't have been seeing crowds, lathicharge and panicky open-then-shut orders.

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Lockdown, Day 45: Wrong curve flattened

CORONAVIRUS UPDATES 8 May, 2020 | 05:41 PM IST SENSEX 31,643 +199.32 NIFTY 50 9,252 +52.45 Gold 46,090 -71.00 USD/INR 75.54 -0.24

Lockdown, Day 45: Wrong curve flattened The pandemic seems to be bringing India's growth curve closer and closer to zero, with ratings agency Moody's revising their projections for FY21 once more, after already having downgraded twice before, first to 2.5% and then to 0.2%. Even as India slowly starts going back to work, the country has reported just shy of 10,000 cases in the last three days, with 3,380 of them being reported in the last 24 hours. Here are the top developments of the day... COUNT SO FAR Fresh case in Himachal; tally rises to 48 15 more cases in Telangana; tally now 1,122 26 new cases takes Rajasthan tally to 3453 Madhya Pradesh's Ujjain reports 19 fresh cases 26 test positive in Odisha 24 BSF personnel test positive in Tripura; state tally now 88 54 new cases take Andhra tally to 1887 45 new cases in Karnataka; state tally reaches 750 Death toll in Indore now 86; tally climbs to 1,727 Cases in Thane jump to 1,655 5,980 cases in Delhi 514 patients, 5 deaths in paramilitary forces Death toll rises to 41 in Andhra Pradesh World India Tally Toll Tally Toll 38,45,607 2,69,564 56,342 1,886 ECONOMY AND BUSINESS India may see 0% GDP growth this fiscal year: Moody's Sensex ends 199 pts higher; Nifty holds above at 9,250 SBI hikes home loan rates by up to 30 basis points China-backed AIIB approves $500 mn loan for India Samsung resumes operations at Noida factory IndiGo reinstates paycuts for senior staff Chinese ZTE cuts down 30% jobs in India LIFE UNDER LOCKDOWN CBSE to conduct pending Class 10, 12 board exams from July 1 to 15 Maharashtra seals borders to curb liquor smuggling Mahindra launches online sales platform H-1B visa denial rates at 30% for first qtr of FY20 AROUND THE WORLD Uber loses $2.9 bn, offloads bike & scooter business US records 2,448 deaths in 24 hours; toll now 75,543 Germany now has 167,300 cases Mexico now has 29,616 cases; 2,961 deaths Pakistan reports record 1,764 new cases; death toll nears 600 Russia reports over 10,000 cases for sixth straight day DEBATE THIS Is it time to allow home delivery of alcohol? Tell us here

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