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Synopsis
The agency has projected the GVA growth at 3 per cent in Q4 of FY21, up from 1 per cent in Q3, suggesting that the double-dip recession implied by the National Statistics Office (NSO) for Q4 is averted.
AFP
NSO had predicted a double-dip contraction amid restrictions in almost all states amid a deadly second Covid wave
Domestic rating agency
Icra on Monday forecast a 2 per cent uptick in growth during the March FY21 quarter, and 3 per cent from the gross value-added perspective. This would mean that the NSO projection of a double-dip contraction is avoided.
The agency has placed the full-year contraction at 8.45 per cent.
Synopsis
Its chief economist Aditi Nayar expects the annualised GDP growth at 2 per cent in the March quarter, up from 0.40 per cent in the December quarter.
AFP
NSO had predicted a double-dip contraction amid restrictions in almost all states amid a deadly second Covid wave
Domestic ratings agency
Icra on Monday forecast a 2 per cent GDP growth in the fourth quarter of 2020-21, and a 7.3 per cent contraction for the full fiscal year.
From a GVA or gross value added perspective, the agency pegs Q4 growth at 3 per cent and the fully year contraction at 6.3 per cent.
According the agency, the 2 per cent projected GDP growth will help the economy avoid a double-dip recession as indicated by the National Statistical Office (NSO) for Q4.
LONDON — India s economy should come roaring back to life in 2021 after a recession induced by COVID-19, and allow the country to reclaim its status as the fastest-growing major