6/8/2020 The loss of faith - UP Front News - Issue Date: Jun 15, 2020 https://www.indiatoday.in/magazine/up-front/story/20200615-the-loss-of-faith-1685810-2020-06-06 1/9 MG Arun New Delhi June 6, 2020 ISSUE DATE: June 15, 2020 | UPDATED: June 6, 2020 14:59 IST E The loss of faith Bond credit ratings represent the creditworthiness of corporate or government paper. ADVERTISEMENT Illustration by Siddhant Jumde CONOMY O n June 1, Moody’s Investors Service, which rates bonds issued by governments and commercial entities, downgraded India’s foreign-currency and local-currency long-term issuer ratings by a notch to ‘Baa3’ from ‘Baa2’ adding that the outlook remained NEWS APP MAGAZINE LIVE TV HOME CORONA E-CONCLAVE VIDEOS NEWSMO GAMING DIU FACT CHECK INDIA MOVIES TRENDING News / Magazine / UP Front / Read Article Survival at stake for 70% cash-strapped start-ups in India: Survey Sensex, Nifty end higher on Bharti Airtel boost; banks fall
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682020 The loss of faith - UP Front News - Issue Date Jun 15 2020
There is no appetite to either invest or to spend Private consumption which is said to be
the driver of the economy (accounting for 60 per cent of GDP) declined to 27 per cent in
the fourth quarter of fiscal 2020 from 62 per cent in the same quarter a year ago
Investments witnessed a sharp contraction of 65 per cent in the fourth quarter lsquoThis
portends worsening economic conditions for the domestic economy in coming months in
the event of failure to contain the spread of the virus in the countryrsquo the Care Ratings
note adds However government spending helped and so did agriculture growth
One problem with sustained high government spending is that the governmentrsquos fiscal
calculations go awry For fiscal 2020 the countryrsquos fiscal deficit has widened to 46 per
cent of the GDP overshooting the governmentrsquos revised target of 38 per cent Also the
fiscal deficit in April was already 35 per cent of the target for fiscal 2021 of Rs 796 lakh
crore due to lower government revenue Revenues were hit hard after the economy went
into a coma due to the lockdown The governmentrsquos net tax revenue came in at Rs 21412
crore in April a 70 per cent decline compared to April last year
ADVERTISEMENT
Issues like these foretell a rough ride for the economy in the days ahead
IndiaTodayin has plenty of useful resources that can help you better understand thecoronavirus pandemic and protect yourself Read our comprehensive guide (with informationon how the virus spreads precautions and symptoms) watch an expert debunk myths andaccess our dedicated coronavirus page
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Safest Investment Asset by Akshar Group ₹899 Lac in Vashi
ReadArticle
Survival at stake for 70cash-strapped start-upsin India Survey
Sensex Nifty end higheron Bharti Airtel boostbanks fall
682020 The loss of faith - UP Front News - Issue Date Jun 15 2020
There is no appetite to either invest or to spend Private consumption which is said to be
the driver of the economy (accounting for 60 per cent of GDP) declined to 27 per cent in
the fourth quarter of fiscal 2020 from 62 per cent in the same quarter a year ago
Investments witnessed a sharp contraction of 65 per cent in the fourth quarter lsquoThis
portends worsening economic conditions for the domestic economy in coming months in
the event of failure to contain the spread of the virus in the countryrsquo the Care Ratings
note adds However government spending helped and so did agriculture growth
One problem with sustained high government spending is that the governmentrsquos fiscal
calculations go awry For fiscal 2020 the countryrsquos fiscal deficit has widened to 46 per
cent of the GDP overshooting the governmentrsquos revised target of 38 per cent Also the
fiscal deficit in April was already 35 per cent of the target for fiscal 2021 of Rs 796 lakh
crore due to lower government revenue Revenues were hit hard after the economy went
into a coma due to the lockdown The governmentrsquos net tax revenue came in at Rs 21412
crore in April a 70 per cent decline compared to April last year
ADVERTISEMENT
Issues like these foretell a rough ride for the economy in the days ahead
IndiaTodayin has plenty of useful resources that can help you better understand thecoronavirus pandemic and protect yourself Read our comprehensive guide (with informationon how the virus spreads precautions and symptoms) watch an expert debunk myths andaccess our dedicated coronavirus page
POST A COMMENT
Get real-time alerts and all the news on your phone with the all-new India Today app Download from
Akshar Group | Sponsored
Safest Investment Asset by Akshar Group ₹899 Lac in Vashi
ReadArticle
Survival at stake for 70cash-strapped start-upsin India Survey
Sensex Nifty end higheron Bharti Airtel boostbanks fall
682020 The loss of faith - UP Front News - Issue Date Jun 15 2020
There is no appetite to either invest or to spend Private consumption which is said to be
the driver of the economy (accounting for 60 per cent of GDP) declined to 27 per cent in
the fourth quarter of fiscal 2020 from 62 per cent in the same quarter a year ago
Investments witnessed a sharp contraction of 65 per cent in the fourth quarter lsquoThis
portends worsening economic conditions for the domestic economy in coming months in
the event of failure to contain the spread of the virus in the countryrsquo the Care Ratings
note adds However government spending helped and so did agriculture growth
One problem with sustained high government spending is that the governmentrsquos fiscal
calculations go awry For fiscal 2020 the countryrsquos fiscal deficit has widened to 46 per
cent of the GDP overshooting the governmentrsquos revised target of 38 per cent Also the
fiscal deficit in April was already 35 per cent of the target for fiscal 2021 of Rs 796 lakh
crore due to lower government revenue Revenues were hit hard after the economy went
into a coma due to the lockdown The governmentrsquos net tax revenue came in at Rs 21412
crore in April a 70 per cent decline compared to April last year
ADVERTISEMENT
Issues like these foretell a rough ride for the economy in the days ahead
IndiaTodayin has plenty of useful resources that can help you better understand thecoronavirus pandemic and protect yourself Read our comprehensive guide (with informationon how the virus spreads precautions and symptoms) watch an expert debunk myths andaccess our dedicated coronavirus page
POST A COMMENT
Get real-time alerts and all the news on your phone with the all-new India Today app Download from
Akshar Group | Sponsored
Safest Investment Asset by Akshar Group ₹899 Lac in Vashi
ReadArticle
Survival at stake for 70cash-strapped start-upsin India Survey
Sensex Nifty end higheron Bharti Airtel boostbanks fall
682020 The loss of faith - UP Front News - Issue Date Jun 15 2020
There is no appetite to either invest or to spend Private consumption which is said to be
the driver of the economy (accounting for 60 per cent of GDP) declined to 27 per cent in
the fourth quarter of fiscal 2020 from 62 per cent in the same quarter a year ago
Investments witnessed a sharp contraction of 65 per cent in the fourth quarter lsquoThis
portends worsening economic conditions for the domestic economy in coming months in
the event of failure to contain the spread of the virus in the countryrsquo the Care Ratings
note adds However government spending helped and so did agriculture growth
One problem with sustained high government spending is that the governmentrsquos fiscal
calculations go awry For fiscal 2020 the countryrsquos fiscal deficit has widened to 46 per
cent of the GDP overshooting the governmentrsquos revised target of 38 per cent Also the
fiscal deficit in April was already 35 per cent of the target for fiscal 2021 of Rs 796 lakh
crore due to lower government revenue Revenues were hit hard after the economy went
into a coma due to the lockdown The governmentrsquos net tax revenue came in at Rs 21412
crore in April a 70 per cent decline compared to April last year
ADVERTISEMENT
Issues like these foretell a rough ride for the economy in the days ahead
IndiaTodayin has plenty of useful resources that can help you better understand thecoronavirus pandemic and protect yourself Read our comprehensive guide (with informationon how the virus spreads precautions and symptoms) watch an expert debunk myths andaccess our dedicated coronavirus page
POST A COMMENT
Get real-time alerts and all the news on your phone with the all-new India Today app Download from
Akshar Group | Sponsored
Safest Investment Asset by Akshar Group ₹899 Lac in Vashi
ReadArticle
Survival at stake for 70cash-strapped start-upsin India Survey
Sensex Nifty end higheron Bharti Airtel boostbanks fall