New Delhi: The Indian economy has come out of recession and it grew at a rate of 0.4 per cent in the third quarter of October-December 2020 in the current financial year 2020-21. Earlier, there was a decline of 24.4 per cent in the first quarter of the current financial...
India’s FY22 GDP expected to grow 10.4 pc, says Ind-Ra
New Delhi: India's gross domestic product (GDP) growth will bounce back to 10.4 per cent year-on-year (YoY) in FY22, primarily driven by the base effect, said India Ratings and Research (Ind-Ra). Accordingly, the ratings agency's estimates showed that after recording negative growth during 9MFY21, GDP growth will finally turn positive...
7.7 percent decline in GDP
New Delhi: The country's gross domestic product (GDP) is projected to decline by 7.7 percent in FY 2020-21 due to the Covid 19 pandemic affecting the economy. The first advance estimate of national income was released by the National Statistics Office (NSO) on Thursday. It states that GDP will be...
SBI revises India’s growth forecast for FY21 to 7.4% in its latest Ecowrap report
New Delhi: The State Bank of India in its latest research report raised India’s growth projection to (-)7.4 per cent for FY21 from previously expected (-) 10.9 per cent. The report said the revised GDP estimates are based on SBI ‘Nowcasting Model’ with 41 high frequency indicators associated with industry...
India’s Q2FY21 GDP contracts 7.5%
The country's GDP (Gross Domestic Product) has fallen by 7.5 percent in the July-September quarter of the financial year 2020-21. This information has come out from the data released on Friday. The decline was 23.9 percent in the April-June quarter, the highest in the last 40 years. Even if the...
ICRA further downgraded India’s GDP projections
New Delhi: Domestic rating agency Icra (ICRA) on Monday further downgraded the country's GDP projections, saying that the Indian economy could decline by 11 per cent during the financial year 2020-21. The rating agency had earlier predicted a 9.5 percent contraction. Icra revised its estimates and said that the rate...
India Ratings revises FY21 GDP growth projection to negative 11.8 per cent
Mumbai: The agency, however, expects India's gross domestic product (GDP) to rebound and grow at 9.9 per cent year-on-year in FY22 mainly due to the weak base of FY21. “India Rating's FY21 GDP growth forecast of negative 11.8 per cent will be the lowest GDP growth in the Indian history...
Finance Commission advised to treat FY21, FY22 differently
New Delhi: At a time when the Centre is facing difficulties to disburse GST compensation to states on the low revenue collection, the Economic Advisory Council of the 15th Finance Commission has advised the latter to treat the financial year 2020-21 and 2021-22 differently in comparison to the next four...
India’s Q1FY21 GDP contracts by 23.9pc
New Delhi: Pandemic Covid-19 induced economic turbulence along with measures to curb its outbreak, heavily dented India's economy and plunged the country's GDP to (-) 23.9 per cent during the first quarter (Q1) ended June 2020-21. Though not comparable, the Gross Domestic Product (GDP) had grown by 5.2 per cent...
Global economic recovery better than expected: Report
New Delhi: In a much-needed dose of good news, Deutsche Bank Research analysts in their August report “World outlook: Interim update and longer term projections” reported recovery in many countries has “progressed faster” than the team predicted in their previous report in May, “World Outlook Update: Turning Gloomier”. “Across most...