MUMBAI : Two foreign brokerages on Friday predicted a contraction of 0.4 per cent of India's GDP in the current financial year due to the impact of the COVID-19 pandemic.

Japanese brokerage Nomura warned of a likely downgrade of the sovereign by global ratings agencies while American brokerage Goldman Sachs (GS) said RBI will cut rates by another 1 percentage point to arrest the economic slide.

Analysts across the board have been warning about a heavy economic toll due to the pandemic. Analysts at domestic rating agency Icra have warned of a contraction in the GDP in FY21.

The agency has estimated a minus two per cent growth for the country. Earlier in the day, global rating agency Moody's cut growth estimate to zero. "We expect real GDP

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Apollo Tyres' Q4 net drops 7% due to tepid vehicle sales in India and Europe

Owing to tepid demand for vehicles across geographies, the revenue from operations declined significantly by 15.5% to ₹3,610 cr

city New Delhi India covid-19 pandemic Government

Nestle India chief calls for more workers for food processing industry

NEW DELHI : Packaged consumer goods company Nestle India said that while the maker of Maggi noodles and Nescafe coffee has ramped up its production capacity to about 70%, the company is hoping that the government will permit food processing companies to employ more workers so firms such as Nestle can tide over any supply shortages.

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Brad Pitt surprises graduates with inspiring message, Rita Wilson makes new music and more news

For many college and high school students, walking across the stage to receive a diploma symbolizes all the hard work has paid off. With the pandemic canceling graduation ceremonies, Brad Pitt is making sure graduates are still proud of their accomplishments. The actor surprised graduates from Missouri State University with a sweet video message posted on the University’s social account.

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'After' Star Inanna Sarkis & Boyfriend Matthew Noszka Are Expecting Their First Baby!

Congrats are in order for Inanna Sarkis and Matthew Noszka – they’re having a baby!

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Lady Antebellum Sadly Announces They've Cancelled Their Ocean Tour

Lady Antebellum will unfortunately not be hitting the road for their Ocean 2020 tour this year.

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How We Work Now: Spanish Broadcasting Systems COO Albert Rodríguez

In a new series amid the coronavirus pandemic, Billboard is asking individuals from all sectors of the music business to share stories of how they work now, with much of the world quarantined at home and unable to take in-person meetings, attend conferences or even go into the office. Submissions for the series can be sent to [email protected]. Read the full series here.

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Glastonbury urge public to stay away from festival site during lockdown

Worthy Farm has seen an "increasing numbers of visitors"

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Inside Meghan Markle and Prince Harry's "Simple" Wedding Anniversary Plans

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Harry Princeharry Meghan Markle pandemic

'The 100' Creator Reflects on Sci-Fi Drama's Miraculous 7-Season Run (Exclusive)

As revs up for the seventh and final season, The CW's post-apocalyptic, dystopian drama has gone through quite an evolution over the past six years.

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Piers Morgan furiously fires back at allegation he's celebrating coronavirus deaths

Piers Morgan has furiously hit back at an allegation that he's "celebrating" the number of coronavirus deaths in the UK.

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Borussia Dortmund chief offers Jadon Sancho transfer hope to Man Utd and Chelsea

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Maharashtra's Covid-19 count crosses 37,000-mark, death toll at 1,325

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Microsoft Teams is getting new features for both users and developers

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How to book a coronavirus test - here is what you need to do

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UK needs more fruit and veg pickers - here's how you can get the jobs

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Chinatown institution Yang Sing is closing its Trafford Centre restaurant...coronavirus losses left it with 'no option'

Yang Sing has announced the closure of its Trafford Centre restaurant saying losses incurred by the coronavirus lockdown leave it with 'no option'.

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Where are all the drive-through coronavirus test centres in the UK? Here is the full list

Anyone over the age of five who has symptoms of coronavirus is now eligible for a test in the UK.

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Opinion | Let states not recede behind entry barriers

Indian states bent on using border constrictions to keep out coronavirus carriers could delay an economic recovery and worsen our crisis. Revise these policies to place India first

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Headteacher refuses to open primary school on June 1 as 'risks are too great'

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Ore Oduba wishes wife Portia a happy nine-year anniversary after suspected coronavirus battle

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Ian Bremmer: We're Heading Into a Coronavirus Depression

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City of Calgary to update citizens on COVID-19 response Tuesday afternoon

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Growth at all costs mindset has changed now: Harshil Mathur

Covid-19 will spur digitization that even demonetization couldn’t, since the impact there was only for three months or so

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How the covid pandemic could reshape life in our cities

Post-pandemic, cities may have to change how they work and go local with prudential enthusiasm

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Modi’s approach is to push behavioural change by scaling up the successes among various schemes

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Dad shows off his best ballet moves while dancing with daughter

A dad exhibited some graceful dancing alongside his daughter. (Credit: Pure Joy: The Adventures of Abby via Storyful)

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Ryan Seacrest Breaks Silence On ‘Exhaustion’ After Stroke Concerns Surface During American Idol Finale

Ryan Seacrest is back, and… maybe better than ever?

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Magic Johnson’s Company To Provide $100 Million To Fund Loans To Help Minority-Owned Businesses

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Scotland's lockdown lust exposed as couples enjoy video and car sex

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Son of tragic nurse Jeanette McKenna warns 'Covid is not a joke' after she's found dead in her home

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Virtual checkups, visitor restrictions: What expecting families can expect at LHSC during COVID-19

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Coronavirus outbreaks declared at long-term care home in Fenelon Falls, retirement home in Port Hope

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Opinion | 20 Ts to fund 4 Ls, and the grumble about its source

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Walmart sales soar on consumer stockpiling and online shift

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Household contacts at greater virus risk

Early-stage evidence from cases in Shenzhen finds at least one in nine household contacts at risk of being infected by first carrier

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Markets up nearly 1% as vaccine hopes boost sentiments

The biggest index gainer was telecom. A robust rally in Bharti Airtel Ltd and Vodafone-Idea Ltd shares drove the telecom index over 10%. Bharti Airtel shares gained over 11%

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Opinion | A revival plan that addresses us with a namaste and not a high-five

The package focuses on rural India to drive growth but may disappoint those who see policy through Westernized prisms

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Why India needs more than liquidity dreams

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Opinion | A credit rating moratorium? Don’t shoot the messenger

A measure that reduces instead of increasing transparency would hurt rather than heal our economy

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Lenders look to pivot to tractor financing to beat slowdown in the auto sector

An excellent rabi harvest and the forecast of a normal monsoon augur well for the industry, say tractor makers

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Christina Milian Explains Why Raising a Newborn With Matt Pokora Has Been an "Absolutely Blessing"

So much can change in a short amount of time. When Christina Milian welcomed her baby boy with Matt Pokora back in January, wearing a mask wasn't a thing and staying at home certainly wasn't an order.

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Miranda Lambert updates fans on road trip with husband Brendan McLoughlin

Miranda Lambert gave fans an update on the road trip from Nashville, Tenn. to New York that she’s doing with husband Brendan McLoughlin in their new recreational vehicle. Lambert, 36, previously revealed that she and McLoughlin purchased a new Airstream RV that they dubbed “The Sheriff.” In a recent post on her Instagram, the singer explained that after getting a little stir crazy at home amid the coronavirus quarantine, they decided to camp their way to visit family in New York.

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Wall Street Weighs In on Disney's Exec Team Shake-Up

With The Walt Disney Co. naming Rebecca Campbell to succeed newly named TikTok CEO Kevin Mayer as chair of its direct-to-consumer and international business unit, Wall Street analysts on Tuesday chimed in on what his departure and her rise to the key role mean for the Hollywood powerhouse.

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Ryan Seacrest addresses his health on 'Live' return, says it was 'exhaustion'

Ryan Seacrest had fans concerned about his health over the weekend. While hosting the season finale of "American Idol," the Emmy-winner seemed to slur his words and have a hard time opening his eye which had people wondering if Seacrest had a mild stroke.

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Roger Waters blasts ex bandmate David Gilmour for banning him from Pink Floyd's website

Pink Floyd's Roger Waters has called out David Gilmour for banning him from the rock group's official website and social media platforms. On Monday, Waters posted a lengthy video to his Twitter account in which he puts Gilmour on blast for assuming control of the rockers' webpage and essentially banning him from having any part of it.

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Alberta health officials to update COVID-19 situation Tuesday afternoon

Alberta’s chief medical officer of health and other health officials are scheduled to provide an update Tuesday afternoon on the province’s COVID-19 situation.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Indian economy may contract 0.4 pc in FY21 on coronavirus pandemic, says two foreign brokerages

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