Saturday, 16 January, 2021
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Economy

A cashier counts Indian rupee bank notes. | Photographer: Dhiraj Singh | Bloomberg

3 PSU banks have Rs 9,922 cr of NPAs in roads sector. Delays, low toll collection blamed

The banks shared data with the parliamentary panel on transport, tourism and culture, which was looking at aspects of lending to the road sector.
The Reserve Bank of India | Photo: Suraj Singh Bisht | ThePrint

Borrowing costs surge for businesses as RBI drains Covid liquidity from financial system

Average yields on three-year rupee bonds rated BBB have risen 28 basis points this week, on track for their biggest weekly increase since 2018.
Vegetables are unloaded at the APMC mandi in Navi Mumbai | Ananya Bhardwaj | ThePrint

Wholesale inflation slowed to 1.22% in December on easing food prices

The inflation based on Wholesale Price Index was 1.55% in November 2020, and 2.76% in December 2019.
Shipping containers sit stacked next to gantry cranes at the Yangshan Deep Water Port | Bloomberg

Why high shipping rates are a new headwind for global economy

Transport woes are plaguing consumer & healthcare sectors that are dealing with a dearth of available shipping containers to move components & products out of Asia’s export powers.
Shoppers in Lajpat Nagar on 1 November | Photo: Bismee Taskin | ThePrint

India’s medium-term growth to slow to around 6.5% after initial rebound, says Fitch

Fitch said a combination of supply-side scarring and demand-side constraints will keep the level of GDP well below its pre-pandemic path.
An elctronic ticker dsiplaying sensex at Bombay Stock Exchange | Photo: Dhiraj Singh | Bloomberg

There seems no stopping the frenzy in Indian stock markets. But analysts are raising the alarm

The RBI governor also warned about the rally, citing the disconnect between the markets & the economy as well as expectations bad-loan ratios at lenders will almost double this year.
Representational image | Pixabay

Why there’s no stopping the spectacular rise of this Indian pharma company

The optimism is stemming from the company’s capacity-expansion plans and potential to win more business as India cuts its reliance on Chinese suppliers.
Representational image. | A poultry worker sits idle with empty cages at the Ghazipur market after reports of bird flu, in New Delhi. | Photo: ANI

‘They have all been killed’ — Bird flu spells tragedy for poultry farmers after Covid hit

Bird flu cases in 9 states & UTs means chicken farmers, who were barely starting to recover from Covid impact, are having to cull large numbers of stock a second time in 12 months.
An employee fits a wheel in a car factory | Representational image | Photo: Udit Kulshrestha/Bloomberg

India’s industrial production contracts by 1.9% in November 2020

According to the Index of Industrial Production data, manufacturing sector output shrank by 1.7%, mining output declined 7.3%, while power generation grew 3.5%
Representational image | Dhiraj Singh/Bloomberg

India’s retail inflation drops to 4.59 % in December

According to data released by the Ministry of Statistics & Programme Implementation, food inflation declined to 3.41% in December in 2020, compared to 9.5% in November.

On Camera

File photo | PM Narendra Modi virtually launches pan-India rollout of COVID-19 vaccination drive, in New Delhi, Saturday, Jan. 16 | PTI

Modi is the modern-day CEO of India — his vaccine leadership is proof

Vaccine diplomacy, which Modi is sure to deploy, will fetch India collateral benefits with Nepal, Bangladesh and other neighbours if we handle our domestic needs well.
File Photo of RBI Governor Shaktikanta Das

Financial stability is a public good, need to preserve it — Shaktikanta Das

Speaking at the 39th Nani Palkhivala memorial lecture, RBI Governor Shaktikanta Das delivered a speech on the need for a stable financial system in India. Read the full text here:

Defence

Medics from armed forces at the Base Hospital in Delhi gets the Covid vaccination | Source: Army

Around 3,500 armed forces’ doctors, health workers receive Covid vaccine on Day One 

While 3,129 healthcare personnel from the Army got the vaccine, the number stood at about 250 for the Navy. The figure for IAF is yet to be ascertained.

Neither ‘udta’ nor ‘padhta’ Punjab. Question is how India’s no. 1 state in 2003 fell to 13

Punjab, once India’s richest state, has slipped and fallen behind. MSP and subsidies should continue, but it needs to rediscover its entrepreneurial impulse.