By the end of 2010 the unemployment rate could be approaching double digit figures in all G8 countries.
The development comes before Obama is expected to make an announcement on auto industry aid.
SBI on Saturday hinted at further interest rate cuts in the new financial year.
The rally in the stock market has added a whopping Rs 2.51 trillion to investors' wealth last week.
With the economic turmoil straining their financials,top executives of many American corporates,including Citigroup chief Vikram Pandit and AIG's Edward Liddy,are opting for just USD 1 salary.
Bankers have sought to allay fears that the country may be in the deflation mode.
Country's 10 most valued firms added over Rs 91,000 crore to their market capitalisation last week.
Leading Tata group firms,including Tata Motors and Tata Steel,outperformed Sensex in March.
Indian corporates have virtually stopped fresh recruitments to cut costs in the wake of global crisis.
The number of aspirants for studying at the prestigious IITs has gone up by nearly two lakh this year.
United Bank of India (UBI) signed an agreement with Tata Motors for financing the Rs-one lakh Nano car.
India's Hindustan Petroleum Corp has tripled an annual crude import deal with Iran for 2009/10.
Prime Minister said plenty of liquidity and low inflation gave room for further interest rate cuts.
The Indian economy needs more stimulus to counter the impact of global economic slowdown.
Oriental Bank of Commerce said it will reduce its benchmark prime lending rate by 50 basis points to 12 per cent,with effect from April 1.
Punjab National Bank,the country's second largest state-run lender,said there is no further scope for the banks to slash their lending rates.
Bolstered by "hopeful signs" in certain sectors,the government said India will beat the IMF projection of 5.1 per cent growth in 2009.
India is likely to grow at 6.5 per cent or above in the current fiscal and in 2009-10.
The government expects growth in the Indian economy to slow to 7.1 per cent in 2008/09.
Output rose an 7.0 per cent in February 2008,and in the 2007/08 fiscal year it rose 5.6 per cent.
Google is cutting its sales and marketing team by roughly 200 employees,saying it had over-invested in certain parts of the company.
HMIL in a bid to enhance financing options for its customers,signed a Memorandum of Understanding (MOU) with Bank of India.
State-run power equipment maker BHEL has been adjudged the most investor friendly PSU.
Hero Group said there could be some 'tweaking' in its JV with Daimler due to economic downturn.
Allahabad Bank closed its sale of perpetual bonds earlier than scheduled after collecting extra bids,the bank said on Thursday.