Business highlights

Following are the top business stories at 1915 hours DEL55 BIZ-SURVEY-LD GROWTHIndia GDP to grow 11 pc in FY22 aided by V-shaped recovery Eco SurveyNew Delhi Indias economy is likely to rebound with a 11 per cent growth in the next financial year as it makes a V-shaped recovery after witnessing a pandemic-led carnage, the Pre-Budget Economic Survey said on Friday.

Following are the top business stories at 1915 hours: DEL55 BIZ-SURVEY-LD GROWTHIndia GDP to grow 11 pc in FY'22 aided by V-shaped recovery: Eco SurveyNew Delhi: India's economy is likely to rebound with a 11 per cent growth in the next financial year as it makes a 'V-shaped' recovery after witnessing a pandemic-led carnage, the Pre-Budget Economic Survey said on Friday. DEL116 BIZ-LD GDP-REVISIONGDP growth rate for 2019-20 revised downwards to 4 pcNew Delhi: The government on Friday revised downwards the economic growth rate for 2019-20 to 4 per cent from 4.2 per cent estimated earlier, mainly due to contraction in secondary sectors like manufacturing and construction.

DEL107 BIZ-SURVEY-LIVES SAVEDIndia's COVID response saved over 1 lakh lives: Eco SurveyNew Delhi: India's pandemic response, focused on saving lives and livelihoods, restricted the COVID-19 spread by 37 lakh cases and saved more than 1 lakh lives, as per the Economic Survey 2020-21DEL92 BIZ-LD RUPEERupee gains 9 paise to finish at 72.96 against US dollar Mumbai: The rupee gained 9 paise to settle at 72.96 against the US dollar on Friday even as the domestic equity markets closed with significant losses.

DEL82 BIZ-LD STOCKSMarket sell-off extends to 6th day; all eyes on Budget Mumbai: The Sensex and Nifty buckled under selling pressure for the sixth session on the trot on Friday as the pre-Budget Economic Survey failed to cheer investors amid continued selling by foreign funds and a bearish trend overseas.

DEL118 BIZ-LD INFRAEight core industries' output contracts 1.3 pc in Dec 2020New Delhi: The output of eight core infrastructure sectors contracted for the third month in a row by 1.3 per cent in December 2020, dragged down by poor show by crude oil, natural gas, refinery products, fertiliser, steel and cement sectors.

DEL121 BIZ-SURVEY-CEA-FARM LAWSNew farm laws will have multiple benefits for farmers: SubramanianNew Delhi: Amid the ongoing controversy over the three new farm laws, Chief Economic Adviser K V Subramanian on Friday said legislations will have multiple benefits for the farmers. DCM83 BIZ-FISCAL DEFICITFiscal deficit soars to Rs 11.6 lakh cr at December endNew Delhi: Union government's fiscal deficit soared to Rs 11.58 lakh crore or 145.5 per cent of the budget estimate at the end of December 2020, mainly on account of lower revenue realisation.

DEL71 BIZ-SURVEY-FARMLAWSNew farm laws herald new era of market freedom: Economic Survey New Delhi: The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India.

DEL70 BIZ-SURVEY-SOVEREIGN RATINGEco Survey exhorts rating agencies to be more transparent, less subjective in sovereign ratingNew Delhi: India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratingsDEL59 BIZ-SURVEY-LOCKDOWNIndia reaping 'lockdown dividend' by saving lives and livelihood: Eco SurveyNew Delhi: India is reaping the ''lockdown dividend'' from the preventive measures it adopted at the onset of the COVID-19 pandemic indicating its willingness to take short-term pain for long-term gain, said the Economic Survey tabled in Parliament on Friday.

DCM81 BIZ-SURVEY-INSOLVENCYIBC redefines debtor-creditor relationship, says Economic Survey New Delhi: Ushering in significant behavioural changes, the insolvency law has redefined the debtor-creditor relationship with more than 80 per cent of the corporate debtors getting resolved before official announcement of the resolution process till September 2020, according to the Economic Survey.

DCM58 BIZ-SURVEY-EXPORTSExports may dip 5.8%, imports by 11.3% in second half of 2020-21: SurveyNew Delhi: The country's exports are expected to contract by 5.8 per cent and imports by 11.3 per cent during the second half of the current financial year, though implementation of several measures by the government would help support exports going forward, according to the Economic Survey 2021.

DCM55 BIZ-SURVEY-INFLATIONEco survey suggests change in weighage of food items to gauge true picture of inflationNew Delhi: The economic survey for 2020-21 has suggested revision in the weightage of food items to gauge the true picture of inflation in the country, and said new sources of price data also need to be incorporated in the wake of increasing retail e-commerce transactions.

DCM17 BIZ-VACCINE-ASTRAZENECASupply of COVID-19 vaccines may meet, even outstrip demand in India by Q3: AstraZeneca chiefNew Delhi:The supply of vaccines for COVID-19 may meet up or even outstrip the demand in India by the third quarter of this year, given the number of vaccines being developed in the country and its capacity, AstraZeneca Pharma India Country President and MD Gagan Singh said on Friday. DCM88 BIZ-RESULTS-LD TATA MOTORSTata Motors posts 68 pc jump in Q3 consolidated net profit as sales riseNew Delhi: Homegrown auto major Tata Motors on Friday reported a 67.52 per cent rise in its consolidated net profit to Rs 2,941.48 crore for the third quarter ended December 31, aided by pent-up demand amid steady recovery in the economy.

DEL45 BIZ-GOLD-PRICE Gold gains Rs 132; silver zooms Rs 2,915New Delhi: Gold gained Rs 132 to Rs 48,376 per 10 gram in the national capital on Friday, according to HDFC Securities.