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Top Story March 10, 2021 ISLAMABAD: Different international financial institutions have projected varied GDP growth projections for India ranging from 5.4 percent by World Bank to 13.7 percent by Moody for 2021-22. Fitch and HSBC Bank have projected India’s GDP growth in the range of 11 and 11.2 percent respectively. The World Bank has projected GDP growth rate for India at 5.4 percent. According to CNN, after plunging into recession for the first time in nearly a quarter of a century, India’s economy should come roaring back to life in 2021. India’s gross domestic product is projected to expand by 12.6% during the country’s fiscal year starting in April, according to a forecast released Tuesday by the Organization for Economic Cooperation and Development. If that level of growth is realized, it would allow India to reclaim its status as the fastest growing major economy stealing the title back from China, which the OECD expects will deliver growth of 7.8% t ....
Top Story March 10, 2021 ISLAMABAD: Different international financial institutions have projected varied GDP growth projections for India ranging from 5.4 percent by World Bank to 13.7 percent by Moody for 2021-22. Fitch and HSBC Bank have projected India’s GDP growth in the range of 11 and 11.2 percent respectively. The World Bank has projected GDP growth rate for India at 5.4 percent. According to CNN, after plunging into recession for the first time in nearly a quarter of a century, India s economy should come roaring back to life in 2021. India s gross domestic product is projected to expand by 12.6% during the country s fiscal year starting in April, according to a forecast released Tuesday by the Organization for Economic Cooperation and Development. If that level of growth is realized, it would allow India to reclaim its status as the fastest growing major economy stealing the title back from China, which the OECD expects will deliver growth of 7.8% this ca ....
India s fiscal deficit hits 66.8 per cent of revised forecast During the April 2020 to January 2021 period, total receipts stood at Rs 12.83 lakh crore which is 80.1 per cent of the revised Budget target of Rs 16.01 lakh crore. Share Via Email | A+A A- The gap between the government’s revenue and expenditure (Fiscal deficit), in absolute terms, stood at Rs 12.34 lakh crore. (Express Illustrations) By Express News Service NEW DELHI: Data released on Friday by the Controller General of Accounts (CGA) showed that, as of the end of January 2021, India’s fiscal deficit had breached 66.8 per cent of the revised budget estimates for the current financial year (2020-21). ....
The Indian economy is expected to grow 13.7 per cent in the financial year 2021-22 (FY22), registering a strong rebound from a 7 per cent contraction this fiscal year, said Moody’s on Thursday, adding the country’s fiscal position would remain weak in 2021, posing a key credit challenge. Moody’s had in November last year projected the economy to contract 10.6 per cent in FY21 and return to growth of 10.8 per cent in FY22. The upgrade in growth forecast comes on the back of normalisation of activity and growing confidence in the market with the rollout of Covid-19 vaccine. On fiscal consolidation, the global rating agency said the prospects remain weak, particularly given the government’s mixed track record of implementing revenue-raising measures. ....
Moody s forecasts 7% GDP contraction for India in FY21; revises estimate to 13.7% growth in FY22 In its Global Macro Outlook 2021-22 report, Moody s says India s economy has rebounded quickly from one of the world s longest and most stringent lockdowns, which also came with steepest fall in GDP in Q2 BusinessToday.In | February 25, 2021 | Updated 16:23 IST The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday Global rating agency Moody s has said India s economy will shrink by 7 per cent in FY21 and revised India s growth estimate for the next financial year 2021-22 to 13.7 per cent from 10.08 per cent earlier. The agency in its earlier estimates had predicted India s GDP to shrink 10.6 per cent in the current financial year. ....