Like 1991, the 2021 crisis presents an opportunity
It is important to create better and fairer conditions for doing business, build consensus on economic policies, and avoid socially divisive policies or actions.
(Art: Ringa Ringa Roses by Gigi Scaria, 2018, Bronze)
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C. Rangarajan
Even if the economy grows at 8.7% in 2021-22, we may remain at the level we were in March 2020. We will need to run faster to stay where we are
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With the arrival of 2021, the liberalization regime launched in 1991 completes 30 years. 1991 was a landmark moment in India’s post-independence history that changed the nature of the economy in fundamental ways. A severe balance of payments problem triggered an acute economic crisis that year. In response, India’s economic establishment launched a multipronged reforms agenda to repair India’s macroeconomic balance sheet and ignite growth.
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MUMBAI: The country s real gross domestic product (GDP) is likely to expand by 11 per cent in the next financial year due to a faster economic recovery and on a low base, says a report.
The report by domestic rating agency Brickwork Ratings said economic activities are slowly reaching pre-Covid levels following the relaxation of the lockdown, except in sectors that remain affected by social distancing norms. With progress in developing an effective vaccine for Covid-19 and signals of faster-than-expected recovery in the domestic economy, and also supported by a low base, we expect the real GDP to grow at 11 per cent in FY22, from the estimated contraction of 7 per cent to 7.5 per cent in FY21, the agency said.
Synopsis
The report said the economy is likely to witness positive growth in H2FY21, though some sectors will continue to record staggered recovery due to social distancing norms.
The agency expects the industrial sector to grow at 11.5 per cent and services sector to rise by 11 to 12 per cent in the next financial year.
The country s real gross domestic product (GDP) is likely to expand by 11 per cent in the next financial year due to a faster economic recovery and on a low base, says a report. The report by domestic rating agency Brickwork Ratings said economic activities are slowly reaching pre-COVID levels following the relaxation of the lockdown, except in sectors that remain affected by social distancing norms.
Microsoft Israel announced Tuesday the appointment of Itzik Tzalaf as the company’s NSO, or national security officer. Tzalaf will oversee the company’s cybersecurity activity as part of the company’s move to establish a local data center in Israel. Tzalaf will oversee the information security field as part of Microsoft’s Public Sector Division. This is part of Microsoft’s global effort to create a local smart cloud infrastructure in Israel.
Tzalaf brings with him extensive experience in the cybersecurity field, having led cyber digital initiatives for both the public and private sector, including as Cyber Solutions Specialist at Microsoft s Global Security Services. He has also served in various positions in the company for the past seven years in Israel, Europe, the Middle East, and Africa. Tzalaf’s proven track record will help prepare Israel to establish a ensured and protected public cloud network.
India s per capita GDP slips below Rs 1 lakh; first time in 3 years
While India s per capita GDP is estimated to fall 10.5 per cent to $1,877, lowest in five years, Bangladesh will see it going up 4 per cent to $1,888 in 2020. Our neighbouring nation Pakistan s per capita GDP in dollar terms will fall from $1,625 to $1,349 in 2020
Per capita GDP is a measure of a country s economic output per person, that divides its GDP by total population
India s per capita Gross Domestic Product (GDP) at constant prices is projected to decline 8.7 per cent to below Rs 1 lakh for the first time in the last three fiscals, the first advance estimate of national income by Nation Statistical Office (NSO) suggests. Before this, India s per capita GDP income was below Rs 1 lakh at Rs 94,751 crore in FY 2016-17.