Can India grow at 9.2% in FY22 when global recovery is likely to be muted? The government estimate on GDP does not take into account the economy’s inability to benefit from infrastructure building
The Indian economy is expected to grow at 9.2 per cent in 2021-22 fiscal, surpassing pre-Covid level in actual terms due to improved performance especially in farm, mining and manufacturing sectors.
RBI Governor Shaktikanta Das notes that after the destructive second wave in April-May 2021, the growth outlook has progressively improved, though there are headwinds from global developments.
The Indian economy grew at 8.4 per cent in the second quarter of the current fiscal, as against a growth of 20.1 per cent in the April-June quarter.
Private equity investments have surged by nearly 20% post-Covid in India. Several other factors like growing credit scores, better GST collection in this financial year indicate that Indian economy is gradually recovering.
India's GDP grew 8.4 per cent in the September-end quarter. It had registered a 20.1 per cent growth in the previous quarter, this financial year.
The economist pointed out that in the fiscal year 2020-21, the deficit of all levels of governments is estimated to be 14 per cent of GDP and the same is estimated to be around 10 per cent of GDP in 2021-22.
Moody's said the recent spike in vaccinations, lower interest rates and increased public spending helped reinforce a positive outlook for the country's corporate sector.
Fitch forecast growth of around 7 per cent between FY24 (fiscal ending March 2024) and FY26 (fiscal ending March 2026), supported by the government's reform agenda.
India is targeting to increase its low-carbon power capacity to 500 gigawatts (GW) by 2030, and meet 50 per cent of its energy requirements from renewable energy by 2030.
India recently achieved a major milestone in its vaccination programme against COVID-19 as the cumulative vaccine doses administered in the country surpassed the 100-crore mark.
Formalisation of the Indian economy has been a stated aim of the Narendra Modi government. And a SBI Research report released Friday, holds up the report card.
Moody's expects India's economy to continue to recover in the next 12-18 months, with GDP growing 9.3 per cent in the fiscal year ending March 2022 and 7.9 per cent in the following year.
Domestic demand is gaining strength while aggregate supply conditions are recouping, powered by the robust performance of kharif agricultural production.
China's CGP has registered a steady decline in the past three quarters. In the third quarter (Q3), it grew 4.9 per cent year on year, slower than the growth of 18.3 per cent in Q1 and 7.9 per cent in Q2.
Union Finance Minister Nirmala Sitharaman said India’s pandemic response has focused on the ‘twin goals of saving both the lives and livelihoods’.
Beneath the glossy sheen of an up-and-coming economy - the dreams and aspirations of many an Indian have been diminished over the decade. Several, just forced to barely survive.
Manufacturing which grew by 49.6 per cent, fell 36 per cent in the same period last year. This would be music to the ears of our policymakers, who are acutely aware of the importance of the sector if India’s is to bounce back quickly to the path of double-digit growth.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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