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New Delhi, Dec 3 () Global rating agency S&amp;P has reaffirmed sovereign rating of India with stable outlook, Economic Affairs Secretary Atanu Chakraborty said on Tuesday.
The rating action comes weeks after another global agency Moody's Investors Service lowered the country's rating outlook to "negative" from "stable".
"S&amp;P has reaffirmed sovereign rating of India at BBB- with stable outlook. They have stated that India's economy continues to achieve impressive long-term growth rates despite a recent deceleration," Chakraborty said in a tweet.
 'BBB' signifies adequate capacity on an entity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to weaken its capacity to meet financial commitments.
The rating action comes at a time when the government is facing flak from opposition parties for not doing enough to check the slide in economic growth, which hit six year lower low of 4.5 per cent in the second quarter of the current fiscal. 
Standards and Poor's (S&amp;P) also expects the Indian economy to continue to out-perform its peers and that the growth will remain strong over the next two years. 
In November, Moody's Investors Service has cut India's credit rating outlook to negative - the first step towards a downgrade, saying the government has been partly ineffective in addressing economic weakness, leading to rising risks that growth will remain lower.
Another international agency, Fitch Ratings continues to hold the country's outlook at stable. 
The government has been taking slew of measures, including sharp reduction corporate tax to boost economy.
Besides, the Reserve Bank has been extedning support to government's effort by repeatedly cutting key policy rate. DP NKD CS MR
MR

S&P reaffirms India's rating, retains outlook at 'stable'

New Delhi, Feb 13 () Global ratings agency Standard and Poor's on Thursday affirmed India's sovereign rating at 'BBB-' with stable outlook, saying the country's GDP growth is likely to gradually recover towards longer-term trend rates over the next two to three years. 'BBB' rating refers to adequate capacity of the rated entity to meet its financial commitments. "Despite a notable deceleration in India's economy in recent quarters, we believe its structural growth outperformance remains intact. Real GDP growth is therefore likely to gradually recover toward longer-term trend rates over the next two to three years," S&amp;P said in a statement. It expects the economic growth rate to improve to 6 per cent during 2020-21, 7 per cent in the next fiscal and 7.4 per cent thereafter. "We expect India's economy to continue to outperform peers at a similar level of income, despite a recent slowdown in real GDP growth. "Supportive monetary, fiscal, and cyclical factors should support economic recovery, with real GDP growth averaging 7.1 per cent in fiscals 2020-2024," it said. The agency, however pointed out that India's fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness. Fiscal deficits have exceeded the government's plan, S&amp;P said, adding it expects limited consolidation over the next few years. "S&amp;P Global Ratings affirmed its 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings on India. The outlook on the long-term rating is stable," it said in a statement. As per the National Statistical Office (NSO), India's GDP growth is estimated to slow down to 5 per cent during 2019-20. The government expects growth to rebound to over 6 per cent in the next financial year. Providing rationale for its rating action, S&amp;P said the ratings on India reflect the country's above-average real GDP growth, sound external profile, and evolving monetary settings. As per the statement, the stable outlook reflects S&amp;P's expectation that India's growth will be strong, the country will maintain its sound net external position, and its fiscal deficits will remain elevated but broadly in line with its forecasts over the next two years. Further, "upward pressure" on the ratings could build if the government significantly curtails its fiscal deficits, resulting in lower net indebtedness at the general government level. Upside potential on the ratings could also increase if India's external accounts strengthen substantially. Also, the downward pressure on the ratings could emerge if India's GDP growth falls well below the agency's forecasts, causing it to reassess view of trend growth; net general government deficits rise further from their currently elevated levels; and political developments materially undermine economic reform momentum. S&amp;P further said the Indian economy has slowed measurably. Real GDP growth fell to a more than six-year low of 4.5 per cent in the second quarter of this fiscal. This was the fifth consecutive quarter of decline in year-on-year growth rate. It also noted that tighter lending conditions continue across the financial system, particularly in the public sector. This, it said, is reflected in a gradual decline in credit growth. In combination with ongoing liquidity concerns in the non-bank financial institution (NBFI) sector following the September 2018 default by Infrastructure Leasing and Financial Services Ltd (IL&amp;FS) and subsequent relatively less impactful defaults, domestic credit conditions have been somewhat mixed, it said. "Weaker sentiment in the NBFI space may limit private consumption growth over the coming quarters," it said. The government's August 2019 announcement that it will consolidate major public sector banks may also constrain credit growth over the next 12-24 months, it said. "Nevertheless, we believe India is experiencing a cyclical, rather than a structural, economic slowdown. The economy's long-term outperformance highlights its resilience. "India's wide range of structural trends, including healthy demographics and competitive unit labor costs, work in its favor. A more favorable corporate tax regime, which is particularly supportive of manufacturing firms, should reinforce growth, alongside additional fiscal and monetary easing," it said. The agency further said India's economic growth faces headwinds over the near term, including subdued private sector investment and sentiment, labour market difficulties, and soft demand conditions. However, it believes the country's long-term outperformance will remain intact. India's fiscal deficits will be higher in this fiscal year and the next, largely due to the economic slowdown and substantial cuts in corporate taxes, it added. The Indian government's fiscal 2020-21 budget acknowledges a rise in the central government's deficit to 3.8 per cent in 2019-20, and expects the deficit to fall marginally to 3.5 per cent next year. S&amp;P said the general elections held in April-May 2019 returned a robust mandate for Prime Minister Narendra Modi's BJP-led government. "The results suggest that major policy undertakings by the government in its first term, including GST and demonetisation, have not materially undermined support for the BJP-led coalition," it said. Over the next one to two years, this electoral support could encourage the government to pursue further reform initiatives, especially those aimed at liberalising foreign investment. NKD CS ABMABM

S&P affirms India's rating at 'BBB-' with stable outlook

New Delhi, Feb 13 () Global agency Standard and Poor's on Thursday retained India's sovereign ratings at 'BBB-' with stable outlook, saying the country's GDP is likely to gradually recover towards longer-term trend rates over the next two to three years.The rating agency, however, pointed out that India's fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness. Fiscal deficits have exceeded the government's plan, S&amp;P said, adding it expect limited consolidation over the next few years."S&amp;P Global Ratings affirmed its 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings on India. The outlook on the long-term rating is stable," it said in a statement.India's economic growth is estimated to slow down to 5 per cent during 2019-20 and the government expects the GDP to rebound to over 6 per cent in the next financial year. NKD CS MKJ

S&P retains India's rating at 'BBB-' with stable outlook

India's corporate credit landscape is showing positive trends that are expected to persist, according to a recent report by <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="261" meta.entityid="S&amp;P Global">S&amp;P Global</keyword>. The report highlights strengthening credit quality across various sectors, driven by enhanced <keyword id="20994126" type="General" weightage="20" keywordseo="financial-discipline" source="keywords">financial discipline</keyword>, broad-based <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword>, and robust liquidity profiles. S&amp;P Global's analysis reveals that one in three ratings within India now shows a positive outlook, marking a significant shift after three years of net positive rating actions. The report indicates that corporate India has built greater resilience against downside risks, reflecting a more stable and robust credit environment. However, corporate leverage in India is expected to decline marginally, even as capital expenditure (capex) rises by 30% compared to pre-pandemic levels. This improvement is attributed to more entrenched financial discipline among companies, which have managed to balance rising capex with prudent financial management. The report forecasts a 10% growth in aggregate EBITDA in 2024, driven by strong performance in sectors such as telecommunications, airports, commodities, and chemicals. This broad-based earnings growth underscores the resilience of corporate India and its ability to generate substantial cash flows despite a challenging global environment. Indian companies are benefiting from strong onshore liquidity and the absence of large debt maturities, which support their liquidity profiles. The resilience of these companies to foreign exchange and interest rate volatility further strengthens their liquidity positions. Corporate India's positive credit trends are closely linked to broader economic drivers such as GDP growth. Increased consumer spending is bolstering sectors like airports, automobiles, and telecommunications. Meanwhile, infrastructure investment is significantly boosting the commodities, utilities, and commercial automotive sectors. S&amp;P Global notes that both infrastructure and non-infrastructure sectors are experiencing reductions in leverage, with absolute debt reduction more pronounced in non-infrastructure sectors. However, infrastructure entities are slower in reducing debt due to higher capex, particularly in energy transition initiatives. Operating cash flows across sectors are outpacing capex, supporting further deleveraging. While capex intensity remains higher in infrastructure sectors, the neutral free operating cash flow is seen as a positive trend, indicating that companies are managing their capital expenditures efficiently while maintaining cash flows. The transportation infrastructure sector is benefiting from traffic growth and tariff increases, with rising cargo volumes supporting port revenues and improved operating efficiencies boosting margins. Airports are also experiencing higher traffic levels and tariff increases, contributing to better operating cash flows and overall credit quality. In the utilities sector, rising demand and new capacity are driving earnings growth, though capex remains high, particularly for energy transition projects. The steel sector is expected to see increased operating cash flow due to falling input prices and new capacity additions. Earnings in the oil and gas sector are expected to remain stable, supported by a favorable price outlook and consistent production levels. The telecom sector is also on a path to significant deleveraging, with capex expected to moderate following the 5G auctions in 2023. The auto sector is witnessing sustained operating performance as volumes stabilize after the supply chain disruptions of 2022. S&amp;P Global notes that debt levels in the auto sector are expected to remain low following sharp deleveraging, while normalized growth in auto sales and stable margins support the sector's positive outlook. In the chemicals sector, falling input costs and stabilized product prices are expected to drive earnings recovery following a downturn in 2023. Improved signals show a broader trend of recovery across various industrial sectors in India. S&amp;P Global concludes that with the highest proportion of positive credit outlooks in the region, India's corporate sector is well-positioned for continued <keyword id="22758432" type="General" weightage="20" keywordseo="credit-quality-improvement" source="keywords">credit quality improvement</keyword>. 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India's corporate credit quality is getting stronger: S&P Global

New Delhi, Mar 18 () S&amp;P Global Ratings on Wednesday lowered India's economic growth forecast to 5.2 per cent for 2020, saying the global economy is entering a recession amid the coronavirus pandemic.The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar.Asia-Pacific economic growth in 2020 will be more than halve to less than 3 per cent as the "global economy enters a recession", S&amp;P said in a statement.An enormous first-quarter shock in China, shutdowns across the US and Europe, and local virus transmission guarantees a deep recession across Asia-Pacific, said Shaun Roache, chief Asia-Pacific economist at S&amp;P Global Ratings."We lower our forecasts for China, India, and Japan for 2020 to 2.9 per cent, 5.2 per cent and -1.2 per cent (from 4.8 per cent, 5.7 per cent, and -0.4 per cent previously)," S&amp;P said.On Tuesday, Moody's Investors Service had lowered India's economic growth forecast for 2020 to 5.3 per cent (from 5.4 per cent), in the wake of the coronavirus impact on the economy. NKD IJT

S&P lowers India's growth forecast to 5.2 pc in 2020

Mumbai, Apr 18 () Despite expecting challenges to the Indian banking system because of the COVID-19 pandemic, global ratings agency Standard and Poor's feels HDFC Bank will be resilient and said that the country's sovereign rating restricts it from upgrading the country's largest private sector lender. It appreciated HDFC Bank's comfortable capitalisation, strong earnings, regular capital raising to fund above-average growth and the "best" asset quality in the system. The bank reported an 18 per cent increase in the March quarter to Rs 6,928 crore after provisioning Rs 1,550 crore for the impact of COVID-19 and losing Rs 450 crore in income due to the lockdown. Its asset quality also improved over the previous quarter with the gross non-performing asset (GNPA) ratio at 1.26 per cent. "The rating on HDFC Bank is capped by our sovereign credit rating on India (BBB-/Stable/A-3). The rating on the bank will therefore move in tandem with that on the sovereign," the rating agency said in a note. "We would raise our rating on HDFC Bank if we upgrade the sovereign," it added. They added that the agency does not rate Indian banks above the sovereign because of the direct and indirect influence that a sovereign has on banks operating in the country. S&amp;P feels Kotak Mahindra Bank will be the other lender that will be able to withstand difficulties on the asset quality during the challenging period. It expects the government to step in with support to the state-run lenders in case they experience any difficulties. AA HRS

India's sovereign rating restricting upgrade on HDFC Bank's ratings: S&P

<ul><li>Under more severe economic conditions, a few factors could have the potential to put pressure on its BBB-/Stable/A-3 sovereign ratings on <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, <keyword id="3414353" type="General" weightage="20" keywordseo="sp-global-ratings" source="Orion">S&amp;P Global Ratings</keyword> said.</li><li>The rating agency predicted India's current account deficit to go up to 3 per cent of gross domestic product (GDP) this fiscal from 1.6 per cent of GDP last year owing to increased import bills.</li><li>At the same time, the rise in rates is pushing up the cost of government funding. </li></ul>India is facing a mixture of factors that may shake its sovereign credit metrics and amid external turbulence, its foreign exchange reserves are falling, while the current account deficit is rising, said <keyword id="3460448" type="General" weightage="20" keywordseo="sp-global" source="Orion">S&amp;P Global</keyword> Ratings on Wednesday. Under more severe economic conditions, a few factors could have the potential to put pressure on its BBB-/Stable/A-3 sovereign ratings on India, S&amp;P Global Ratings said. While the Indian economy is battling inflation and tightening financial conditions both at home and globally, the strong economic growth is counterbalancing the high fiscal deficits and debt burdens. India's sound external balance sheet helps to buffer against global market turbulence, the report said. The rating agency predicted India's current account deficit to go up to 3 per cent of gross domestic product (GDP) this fiscal from 1.6 per cent of GDP last year owing to increased import bills. According to S&amp;P Global, if the commodity prices stabilise at the current levels through 2023 and decline further after that, then the pressure on the current account will reduce gradually through fiscal 2026. "Nevertheless, if its current account deficit remains higher for longer, compared with our current base case forecasts, that would impinge on India's external balance sheet," the report notes. Although India is a modest net external creditor currently, it may return to a small net external debt position. However, this contingency alone is unlikely to add material downside pressure to our sovereign ratings on India. India is also likely to continue benefiting from the active use of its currency in international transactions and the government's ability to fund itself via a deep local currency debt market, the report said. Expecting the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>) policy rate to end fiscal 2023 at 5.9 per cent, the report said higher rates and faster price increases could soften near-term growth momentum. At the same time, the rise in rates is pushing up the cost of government funding. So far this year, the yield on the Indian government's two-year bonds has risen by about 230 basis points (bps) in the secondary market, to around 7.3 per cent, S&amp;P Global said. A stress scenario assuming consumer price inflation and benchmark interest rates surpassing our current forecasts by 300 bps and 250 bps, respectively, for an extended period of time, could put more pressure on the sovereign ratings, the report said. "We believe a deeper global economic slowdown than we currently anticipate could have an adverse impact on India's economic performance in fiscals 2023 and 2024. Potential channels of risk for India include tighter global monetary conditions, prolonged high inflation, and poor investment or consumer sentiment both at home and abroad," said S&amp;P Global. The credit rating agency also said given Indian economy is domestic-oriented, a downshift for an extended time will not happen. "Still, in the event of a prolonged downturn in real and nominal GDP growth, material downward pressure on the sovereign ratings could emerge, especially if large government deficits are left unchecked," S&amp;P Global said. India's general government deficits average well above 7 per cent of GDP annually, and its debt stock stands at about 86 per cent of GDP on a net basis. These metrics, along with its high-interest burden, contribute to very weak assessments of India's fiscal health, S&amp;P Global said. 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Mixture of factors may shake India's sovereign ratings: S&P Global

Mumbai, May 5 () Global ratings agency S&amp;P on Tuesday said additional financial stimulus is "necessary" in India to fight the COVID-19 pandemic, despite the country's weak fiscal position. The stimulus is necessary to support the vulnerable segments of the society and also to prevent additional structural damage to the economy amid the lockdown which has suddenly stopped the business activity, S&amp;P said in a report. In March, the government announced a Rs 1.7 lakh crore relief package focusing on providing food security to the poor and providing money in their hands to fight COVID-19. Many industry watchers have said the package was too less, while some have backed the Centre for not front-loading the package, saying the longevity of the pandemic is not known. The quantum of a new stimulus package is a highly speculated aspect, with some industry watchers advocating caution and others pushing for more spending given the unprecedented nature of the pandemic. "In our view, the Indian government is likely to introduce additional fiscal stimulus measures, which could be broader in scale relative to efforts so far," the agency, which has a 'BBB-/Stable/A-3' rating on the sovereign, said. It added that apart from the direct fiscal transfers to the affected individuals, government officials have indicated a willingness to use a range of options available in their policy toolbox which may include additional support for the corporate and the financial sector as well. The agency said India's fiscal position has been weak for a long time now and is a major factor constraining sovereign credit rating along with the government debt. "Though the fiscal space is limited owing to the government's already-elevated deficit, additional measures could be necessary to support the vulnerable segments of the society, and to prevent additional structural damage to the economy amid the recent sudden-stop in the business activity," it said. S&amp;P added that India will show a "powerful recovery" in the economy in 2021-22, if it is assumed that the pandemic is contained and there is a significant improvement in the global economic conditions. However, if the damage to India's domestic economy is not sufficiently mitigated, the fallout could weigh on the recovery and result in downward pressures on the sovereign and Indian banks, it warned. The agency said systemic pressures for Indian banks could rise owing to the recently announced extension of the nationwide lockdown to check the COVID-19 spread. It said the Rs 1.7 lakh crore relief package along with liquidity easing moves from the Reserve Bank through the targeted long term repo operations will help temper economic risks. Amid speculation of an extension in the three-month moratorium, it said such a move can help borrowers suffering from temporary liquidity issues. Drawing from the commentary and data from Axis Bank, which announced its results last month, the agency said a fourth of the lender's borrowers by loan quantum opting for loan moratorium suggests that some of the stronger borrowers are also opting to conserve liquidity in these tough times. The agency said it will compare the same numbers with the commentary from other banks to assess Axis Bank, but maintained that its Rs 1,400 crore loss for the March quarter reflects a "rise in systemic risk". As of now, its negative outlook on the lender is reflective of the economic risks for the bank, and the Indian economy at large, remaining high, S&amp;P said. The bank will maintain its strong market position and adequate capitalisation over the next 18 months, it said, warning that a large unanticipated asset quality shock can result in a downgrade of the bank's rating. AA ANUANU

More fiscal stimulus measures necessary in India to fight COVID-19: S&P

<ul><li>The <keyword id="11893286" type="UNKNOWN" weightage="20" keywordseo="mi-smart-band-6" source="Orion">Mi Smart Band 6</keyword> is confirmed to launch in four colour options in India.</li><li>It will be part of Xiaomi’s Smarter Living Event on August 26.</li><li>Xiaomi is also launching a new Mi Notebook model at this event.</li></ul>Xiaomi today confirmed that it will launch the <keyword id="11893284" type="UNKNOWN" weightage="20" keywordseo="mi-band-6" source="Orion">Mi Band 6</keyword> at its ‘Smarter Living Event’. The <a href="https://www.businessinsider.in/tech/mi-next-fitness-band-could-have-a-wraparound-transparent-display/articleshow/84854041.cms">fitness band</a> made its debut earlier this year in March in China along with the Mi 11 series smartphones. <a href="https://www.businessinsider.in/tech/news/xiaomis-cyberdog-is-a-robotic-version-of-mans-best-friend/articleshow/85233725.cms">Xiaomi</a> is hosting its Smarter Living Event in India on August 26 where it is expected to launch a series of products. In addition to the Mi Band 6, a new Mi-branded laptop is also scheduled to launch at the event. The Mi Band 6 will be launched in India in four colour options. Xiaomi also revealed that its new fitness tracker will feature an SpO2 sensor and 30 sports modes. Since it has already launched we know that it has a 1.56-inch AMOLED touch display. It packs a 125mAh battery that is said to last for up to 14 days. The fitness band takes around two hours to fully charge. <div type="twitter" handle="XiaomiIndia" handlename="Mi India" image="http://pbs.twimg.com/profile_images/1394198565778464768/IRSbNxQo_normal.png" favoritecount="285" retweetcount="59" status="Back with a bang, and this time- bigger and better! 🔥With a vivid AMOLED Display, the #MiSmartBand6,offers more a… https://t.co/3SXEMIz0y4" createdat="1629357961000" id="1428256924634521600"></div> In addition to the sports modes, the Mi Smart Band 6 also supports six activities such as walking, running and cycling. Its health features include sleep tracking, heart rate and blood pressure monitoring. The fitness band is waterproof up to 50 metres and it features Bluetooth 5.0. New Mi Notebook laptop on the way, too Xiaomi has also been teasing a new Mi Notebook model revealing some features of the laptop. It has so far confirmed a fingerprint sensor, backlit keyboard, and 100% sRGB coverage. The laptop will come in a unibody metal body, and it will be powered by the latest Intel processors. The upcoming Mi Notebook is also <a href="https://twitter.com/bgos10/status/1428237473449058311">expected</a> to be a rebranded RedmiBook Pro 15 that launched in China earlier this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-watch-series-7-release-date-price-features-and-everything-we-know-so-far/articleshow/85450261.cms">Apple Watch Series 7 release date, price, features and everything we know so far</a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-vs-realme-gt-master-edition-mobile-check-out-differences-of-price-features-and-specification-of-both-smartphones/slidelist/85449308.cms">Realme GT vs Realme GT Master Edition: price, specs and features compared</a>

Mi Band 6 with SpO2 sensor to launch in India on August 26

<table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#b7b7b7;padding:0pt 2pt 0pt 2pt;">Constituency </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#b7b7b7;padding:0pt 2pt 0pt 2pt;">Winner Candidate Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#b7b7b7;padding:0pt 2pt 0pt 2pt;">Winning Party </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#b7b7b7;padding:0pt 2pt 0pt 2pt;">Margin </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Azamgarh </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Akhilesh Yadav </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">SP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">259874 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Mainpuri </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">MULAYAM SINGH YADAV </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">SP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">94389 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Moradabad </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Dr. S.T. HASAN </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">SP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">97878 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Rampur </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Mohammad Azam Khan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">SP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">109997 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">Sambhal </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">DR. SHAFIQUR REHMAN BARQ </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">SP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;background-color:#ffffff;padding:0pt 2pt 0pt 2pt;">174826 </td></tr></tbody></table> SP has won 5 seats in the 17th Lok Sabha elections 2019. Former Uttar Pradesh CM Akhilesh Yadav has won the elections from the Azamgarh lok sabha seat with a margin of more than 250,000 votes. Azam Khan has also defeated Jaya Prada from the Rampur seat by more than 100,000 votes. The Samajwadi party led by Akilesh Yadav faced the elections as part of the Mahagathbandhan involving SP, BSP and RLD. The exit poll results for the SP as per Axis IndiaToday-Axis MyIndia predict that the alliance made up by the three parties might win from 16 seats only. The Chanakya predictions for 2019 Lok Sabha seats presume only 2 seats for SP and its alliance. The other predictions for SP for the Lok Sabha elections 2019 include 17-19 by News18, 13 seats by India Today, 40 constituencies by CVoter and 41 seats by NewsX. The total number of parliamentary seats in UP is 80. In 2014 general elections for the parliament, SP got only 4 seats out of 80 from Uttar Pradesh. In 2009 elections, SP won from 22 constituencies. The winning statistics for SP during 2004 was 35 seats. In 2019 Lok Sabha elections, Akilesh Yadav is fighting from Azamgarh Lok Sabha seat. Dharmendra Yadav fights from Badaun, Devendra Yadav from Etah, and Mulayam Singh Yadav seeks election from Mainpuri Lok Sabha constituency. The other important candidates for SP in UP are Azam Khan from Rampur and S.T. Hassan from Moradabad Lok Sabha seat. SP has nominated Shafiq-ur-Rehman from Sambhal ruling out the speculations that the party might field Aparna Yadav from here. In Maharashtra, SP was interested to form an alliance with the Congress party. The Congress did not heed to the demands of SP for any one seat among Mumbai South, Mumbai South Central, Bhiwandi, Mumbai North West, or Mumbai North Central seats. Following that, SP entered into an alliance with the BSP and they both agreed upon the seat sharing formula at the rate of 4 seats for SP and 44 seats for BSP. In Maharashtra, SP contested from four seats namely Mumbai North West, Bhiwandi, Beed, and Nanded.

SP winner candidate list for Lok Sabha Elections 2019

<ul class="summary-list"><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s gross domestic product may rebound to 8.5% in 2022 before suffering a "deep contraction" in this fiscal year, according to <keyword id="30287" type="CITY" weightage="60" keywordseo="SP">S&amp;P</keyword> Global Ratings.</li><li>Despite India's $264 billion economic <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword>, or about 10% of its GDP, the country's migrant laborers and struggling communities are enduring critical troubles.</li><li>A direct cash-transfer benefit reform enabled Prime Minister Narendra Modi's government to deliver stimulus funds to the needy, but tens of thousands amongst those deprived do not have access to digital payments accounts.</li><li>Meanwhile, a forgotten social community has been wiped off of India's <keyword id="48933" type="PERSON" weightage="60" keywordseo="population">population</keyword> data and has failed to secure a government representative on the presumption that their numbers have dwindled to a mere 296.</li></ul>India's economy is likely to rebound by 8.5% in 2022 after suffering a deep contraction in the current fiscal year, according to S&amp;P Global. However, the world's fifth-largest economy is faced with both a migrant crisis of epic proportions and community distress as tens of thousands struggle to persevere during the pandemic in one of the world's most populous nations. The credit ratings agency affirmed a "BBB-" rating on India which represents a relatively low-risk investment and held its "stable" outlook.Real gross domestic product will shrink 5% by the end of fiscal 2021, S&amp;P said. In 2020, GDP fell to an 11-year low of less than 5%. Aspects that will support India's economic rebound include the country's "wide range of structural trends, including healthy demographics and competitive unit labor costs," S&amp;P said. If implemented efficiently, economic reforms could support the rebound.<h2>Downside risks</h2>On the other hand, India's recovery could be hampered by "a serious local epidemic, enduring financial and corporate distress in India, and long-lasting global economic malaise." A sharp rise in national debt is expected this year as the government reels out more stimulus to address the pandemic while dealing with weak revenue generation, but S&amp;P expects its fiscal position to return once a global recovery stabilizes.<h2>Focus on containment and mitigation </h2>In May 2020, the Indian government announced a <a href="https://www.businessinsider.com/goldman-sachs-india-economy-recession-gdp-decline-45-percent-q2-2020-5">$264 billion stimulus package</a>. Out of that, S&amp;P said direct government spending will be less than 1% of GDP, while maximum relief will be directed by India's banking sector through loan guarantees and credit support.S&amp;P expects India's trade position to remain unchanged in the next 12 months as the economy sees a collapse in exports, a steep fall in the central bank's foreign exchange reserves, and a sustained rise in the current account deficit. A direct benefit transfer reform enabled Prime Minister Narendra Modi's government to deliver stimulus funds to over 300 million at-risk individuals, but many more still struggle to avail of the benefits. Particularly so for migrant laborers who do not own digital payments accounts. Many villagers who migrated to cities for higher-paid jobs were <a href="https://www.bbc.co.uk/news/world-asia-india-52672764">forced to travel back home to rural areas</a> once the nationwide lockdown rendered their daily jobs redundant. More recent governmental measures are aimed at supporting non-bank financial institutions and small-and-medium enterprises, S&amp;P has said.<div type="image" title="GettyImages 1220015157" height="683" width="1024" msid="76492591" hostid="261"></div><h2>Social conditions dependent on labor <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword></h2>S&amp;P says prominent incidents of social unrest related to "high-profile legislative decisions" in the past two years have not "materially" dented support for the ruling national political party.Laborers in the economy live and work in dense networks of people. For this reason, the government has addressed the threat of a widespread outbreak amongst these workers, but even if that's achieved, S&amp;P says both the informal and formal labor markets will find it arduous to restore swiftly. S&amp;P projects that if unemployment remains elevated for a long time, "pockets of social unrest could emerge" and dampen India's investment and growth. <h2>Crises persist for a social community left in the lurch</h2>In another troubling sign for India's employment numbers, one considerably-large social group in the country is noticeably unidentifiable on its population data: the Anglo-Indian community.With its distinct line of ancestry built during the time of colonial rule, the minority Anglo community is eliminated on paper and stripped of its identity within India's demographics.A sizable number of Anglos in North East India have been significant contributors to the oil, railways, and tea industries of the region. They also helped set up well-recognized academic institutions across the country.Over the decades, those who could afford to migrate to other countries did so and left behind thin numbers, leading to an almost hidden presence.Consequently, many remain homeless and rely on sundry charity for survival. A lack of government attention has made Anglo families perish. To make sure the community did not suffer harsh neglect post-independence, the government made a provision to nominate two members of the Anglo community to parliament. That came to an <a href="https://www.deccanherald.com/national/no-more-anglo-indian-to-be-nominated-to-ls-assemblies-784146.html">end in January 2020</a>. <div type="image" title="GettyImages 1216711988" height="681" width="1024" msid="76492592" hostid="261"></div><h2>Lack of political representation for the lost group</h2>Representing a mix of British and Indian heritage, the Anglo Indians no longer have a government representative on the assumption that their <a href="https://www.telegraphindia.com/india/anglo-indian-appeal-on-nominated-members/cid/1725605">numbers have dwindled to a mere 296</a>. Owing to their geographic dispersion all over the country and since the community has <a href="https://www.theguardian.com/world/2019/apr/16/the-two-mps-of-british-descent-who-do-not-have-to-stand-in-indian-election">never been counted separately</a> under the <keyword id="6372870" type="UNKNOWN" weightage="60" keywordseo="census">census</keyword>, no one is certain of the true number. A plea to count members of the Anglo community separately was earlier made, and ignored by a bureaucratic quirk. Census information is handy for when governments and health providers need to trace people that require help when disasters such as the coronavirus hit the economy.Anglo-Indian families have been uprooted and are left out of the "New India," according to Geoffrey Farnham, a member of a local Anglo community group in north-east India. Relief meant for welfare and upliftment never reached their community in the north-east region, he said.Their alienation by the central government is so complete, that members of the Anglo community in the North East had no idea they had political representation at all, said Farnham, whose grandfather fought in the 1916 Battle of the Somme as a major in the British Army.Although a bill for the extension of political representation exists, the plea has been held off on grounds of other pressing matters to be dealt with.<h2>Road ahead</h2>With the pandemic still in the early stages, the scale and duration of the crisis remain uncertain, S&amp;P said. Similarly, India's social, health, and economic progress is unpredictable. If containment measures against the virus prove successful, the country could solidify its political and social stability, according to the ratings agency. "In our view, India's economic outlook remains bright, so long as emerging weaknesses are addressed before growth rates fall much further," Andrew Wood, director of S&amp;P's Asia Pacific sovereign ratings said. "The course of India's pandemic will play an important role in determining the strength of its economic recovery."

India's GDP is likely to rebound to 8.5% in 2022, S&P says, but a forgotten community struggles to find any glimmer of hope

Mumbai: India is on track to becoming the <keyword id="20432305" type="General" weightage="20" keywordseo="third-largest-economy" source="keywords">third-largest economy</keyword> by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal, <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="153" meta.entityid="S&amp;P Global">S&amp;P Global</keyword> said in a report on Thursday. The report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business transactions and logistics, boosting <keyword id="20423043" type="General" weightage="20" keywordseo="private-sector-investment" source="keywords">private sector investment</keyword>, and reducing reliance on public capital. It said equity markets are expected to stay dynamic and competitive due to strong growth prospects and better regulation, and foreign inflows into Indian government bonds have surged since the country joined major emerging market indexes, with further growth anticipated. To maximize trade benefits, India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline, said the first edition of 'India Forward: Emerging Perspectives' report. Nearly 90 per cent of India's trade is seaborne, necessitating robust port infrastructure to manage increasing exports and bulk commodity imports, it added. Noting that India faces rising domestic energy demands and can look to sustainable technologies, including renewables and low-emission fuels, balancing energy security with its energy transition plans, the report stated that agriculture will rely on advanced technologies and new policies to improve infrastructure and productivity. The need is to address critical infrastructure issues such as irrigation, storage, and supply distribution to ensure food security and economic stability, it added. The <keyword id="23234467" type="General" weightage="20" keywordseo="sp-global-india-research" source="keywords">S&amp;P Global India Research</keyword> Chapter's inaugural study was launched here on Thursday.

India on track to becoming third-largest economy by FY31: S&P Global report

India's services sector grew at a robust pace in September, as a positive demand environment boosted intakes of new business and output volumes, according to the <keyword id="30287" type="General" weightage="20" keywordseo="sp" source="Orion">S&amp;P</keyword> Global survey released on Thursday. The seasonally adjusted <keyword id="13829175" type="General" weightage="20" keywordseo="sp-global-india-services" source="Orion">S&amp;P Global India Services</keyword> PMI Business Activity Index rose from 60.1 in August to 61.0 in September, signalling a sharp upturn in output that was one of the strongest in over 13 years. With workloads rising and capacities experiencing mild pressure, job numbers continued to increase at a historically high rate. Services firms retained positive expectations for activity, with sentiment improving to its highest level in over nine years, the survey stated. September's expansion in output was commonly associated with effective marketing, favourable demand conditions and strong influxes of new business. "The latest PMI results brought more positive news for India's service economy, with September seeing business activity and new work intakes rising to one of the greatest extents in over 13 years. Besides demand strength domestically, firms noted higher international sales to Asia, Europe and North America," said Pollyanna De Lima, Economics Associate Director at <keyword id="3435727" type="General" weightage="20" keywordseo="sp-global-market-intelligence" source="Orion">S&amp;P Global Market Intelligence</keyword>. "Moreover, an upturn in business optimism about the year ahead, fuelled by buoyant demand conditions, bode well to further growth across the service sector. Unsurprisingly, job creation was sustained as the business mood improved," Lima added. The latest data showed a substantial increase in new business placed with Indian service providers, one that was the second-fastest since June 2010. Anecdotal evidence indicated that market dynamics remained favourable, supporting demand. Advertising was also cited as a key factor boosting sales.

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S&P reaffirms India's rating, retains outlook at 'stable'

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S&P retains India's rating at 'BBB-' with stable outlook

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More fiscal stimulus measures necessary in India to fight COVID-19: S&P

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Mi Band 6 with SpO2 sensor to launch in India on August 26

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SP winner candidate list for Lok Sabha Elections 2019

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India's GDP is likely to rebound to 8.5% in 2022, S&P says, but a forgotten community struggles to find any glimmer of hope

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India on track to becoming third-largest economy by FY31: S&P Global report

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India's services sector growth surges to 13-yr high in Sep: S&P survey

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