The Indian economy is witnessing a V-shaped recovery as the Gross Domestic Product (GDP) has recorded a quarter-on-quarter growth of 23 per cent in the July-September quarter of this fiscal, according to the Finance Ministry’s latest Monthly Economic Review.
The decline in the GDP narrowed to 7.5 per cent in the second quarter of this financial year, over 23.9 per cent in April-June quarter.
“The year-on-year GDP contraction of 7.5 per cent in Q2 of 2020-21 underlies a quarter-on-quarter surge in GDP growth of 23 per cent.
“This V-shaped recovery, evident at the half-way stage of 2020-21, reflects the resilience and robustness of the Indian economy. The fundamentals of the economy remain strong as gradual scaling back of lockdowns, along with the astute support of Atmanirbhar Bharat Mission has placed the economy firmly on the path of recovery,” the Monthly Economic Review for November said. Read more…..
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Kynikos Founder & President Jim Chanos says people are doing really dumb things with their money, driving up share prices of companies based on narratives that are too good to be true. He also discusses his “painful” short in Tesla Inc. before the electric vehicle maker is added to the S&P 500, as well as his bet against IBM, which is his highest conviction short. He adds the Biden administration will not be anti-markets. Chanos speaks exclusively with Scarlet Fu on “Bloomberg Front Row.”
