Moody s VP sums up emerging uncertainties and why lockdowns disproportionately damages economies like India
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Last Updated: Apr 15, 2021, 12:19 PM IST
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Synopsis In economies such as India, there is a high concentration of jobs in the services sector. Here, for real consumption to happen, people have to leave their homes and physically go to places like restaurants or haircutting saloons. For such economies, it is going to be harder to do as well as the ones with a high number of work-from-home jobs.
Agencies
It s too early to start forecasting any changes on the fiscal deficit front, says William Foster. (Image courtesy: Moody s)
Moody s VP sums up emerging uncertainties and why lockdowns disproportionately affect economies like India
SECTIONS
Last Updated: Apr 15, 2021, 12:19 PM IST
Share
Synopsis In economies such as India, there is a high concentration of jobs in the services sector. Here, for real consumption to happen, people have to leave their homes and physically go to places like restaurants or haircutting saloons. For such economies, it is going to be harder to do as well as the ones with a high number of work-from-home jobs.
Agencies
It s too early to start forecasting any changes on the fiscal deficit front, says William Foster. (Image courtesy: Moody s)
Synopsis We expected an acceleration 13.7% real GDP growth for this fiscal year. But that was before the second wave. There is now an obvious, significant downside risk to that says William Foster.
Agencies
It s too early to start forecasting any changes on the fiscal deficit front, says William Foster. (Image courtesy: Moody s)
William Foster, Vice President, Sovereign Risk Group, Moody s Investors Service says it s tough to quantify the economic impact of the second Covid wave on India at this point. Edited excerpts from his interview to ET Now:
ET Now: Your latest report suggests Covid s second wave will be credit negative for India. Could you quantify the impact on economic growth?
The ethos of Funk You is simple: friends, fun and love. Through their decade-long career, the nine-piece funk and soul outfit from Augusta has developed a comradery that extends even to their national fanbase. Celebrating 10 years together, the group is bringing their characteristic brand of dynamic, syncopated rhythm to Savannah on April 16 at Victory North, doors open at 6 p.m. and the show starts at 7 p.m.
It’s the kickoff of a seven-show, southeastern tour that will take them to Ashville, North Carolina, on April 17, Gulf Shores, Alabama, on April 22, Atlanta on April 24, Charleston, South Carolina, on April 30, Charlotte, North Carolina, on May 7, and wrapping up with a show in Macon on May 8. Funk You will be playing new music and old favorites, including songs from “Funk You 10th Anniversary Edition,” a partially reimagined, newly remastered version of their 2011 debut album that drops on April 9.
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