While the unemployment rate among females in urban areas in ages 15 years and above declined to 10.1%, for males it dipped to 7.7%, shows the NSO survey.
It is the time of the year to start chasing dark clouds over the Arabian Sea. Normal rains will offset the demand recession induced by the pandemic and wash away a lot of the country’s woes.
Rising inflation and firming bond yields in the U.S. push down Indian benchmark indices, causing a correction of around 6% from the latest life–highs of February 16.
According to the RBI, the gross NPA ratio of all scheduled commercial banks may increase from 7.5% in September 2020 to 13.5% by September 2021, and even escalate to 14.8% in severe stress scenario.
While directly mum on inflation and growth, the RBI’s latest monetary policy report warns that Covid-19 would impact economic activity in India through lockdowns and slowing global trade and growth.
Advance estimates from the National Statistical Office (NSO) peg India’s GDP to grow at 5% in FY20 as compared to FY19’s 6.8%; manufacturing is projected to grow just 2%.
