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Indian economy

India to register strong growth in the coming quarters, predicts S&P

Despite the uncertainties linked to the COVID-19 pandemic, India will continue to register strong growth in the coming quarters, according to analysts at Standard and Poor’s (S&P). Along with the growth, inflation levels are likely to remain high driven by high food and energy prices, the analysts added. S&P said that India is likely to...

India’s GDP growth in June quarter surges to 20.1%—All you need to know

The Union government on Tuesday revealed that India’s gross domestic product (GDP) grew at an unprecedented pace of 20.1 per cent in the quarter ending June on the back of a weak base and a sharp rebound in consumption demand. In a statement, the National Statistical Office (NSO) under the Ministry of Statistics and Programme...

Centre announces slew of measures to boost economic downturn due to COVID-19

Union finance minister Nirmala Sitharaman on Monday announced eight new schemes to boost the economy ravaged by the COVID-19 pandemic, with a special focus on the health and tourism sector. Notably, the Indian economy contracted by 7.3 per cent in the 2020-21 financial year. The measures unveiled by the finance minister assumes significance in the...

S&P downgrades India’s growth forecast for 2021-22

After the World Bank and Moody’s, now S&P Global Ratings on Thursday downgraded India’s growth forecast for the current financial year to 9.5 per cent from 11 percent predicted earlier. It has predicted a growth of 7.8 per cent in the financial year 2022-23. The decline in India’s growth projection is attributed to the second...

Moody’s downgrades India’s growth forecast for 2021 to 9.6%

Rating agency Moody’s has downgraded India’s growth forecast to 9.6 per cent in the 2021 calendar year as against an earlier projection of 13.9 per cent. The decline in projected growth is attributed to the second wave of the COVID-19 pandemic that wreaked havoc across India. Earlier this month, the World Bank too slashed India’s...

India’s GDP contracts 7.3% in 2020-21

India’s GDP recorded negative growth of 7.3% for 2020-21 while the growth during the fourth quarter (January-March) of the fiscal showed a rise of just 1.6%. The NSO on Monday released the GDP numbers with the growth being poor for the fourth quarter despite sectors being opened and unlocked being lifted. The Central Statistics Office...

IMF upgrades India’s projected growth in 2021 to 12.5%—highest in the world

The International Monetary Fund (IMF) in its latest World Economic Outlook forecast on Tuesday has predicted that the Indian economy is likely to grow at 12.5 in 2021 and 6.9 per cent in 2022. The report has estimated a decline in the country’s GDP by 8 per cent in 2020. Notably, the IMF has revised...

Indian economy to grow at 11.5% in 2021, predicts IMF

The International Monetary Fund (IMF) in its latest World Economic Outlook forecast has predicted that the Indian economy is likely to grow at 11.5% in 2021 and 6.8% in 2022. The report has estimated a decline in the country’s GDP by 8% in 2020. Interestingly, India’s projected growth rate is the highest in the world...

India’s GDP contracts 7.5% in Q2

The Gross Domestic Product (GDP) data released on Friday reveals a contraction of 7.5 per cent in the second quarter of 2020-21 as compared to the same period last year. While it is much better than the 23.9 per cent contraction recorded in the first quarter, the data also reveals that the country is in...

Rahul Gandhi says India reeling under “Modi-made disasters”

Congress MP Rahul Gandhi on Wednesday took a dig at Prime Minister Narendra Modi over the poor handling of the Indian economy, the rising number of coronavirus cases and the Chinese transgressions at the border. Rahul Gandhi said that India is reeling under “Modi-made disasters”. GDP dips 23.9 per cent in Q1, 2020-21 Rahul Gandhi’s...

India’s GDP records sharpest decline of 23.9%

As expected amid the uncontrolled coronavirus pandemic, India’s GDP has declined by 23.9 per cent in the April-June quarter of the fiscal year 2020-21. India’s GDP contraction in the April-June quarter is the worst slump since the country started reporting GDP data in 1996. GDP for Q1 declined to Rs 26.90 lakh crore “GDP has...

Rahul Gandhi attacks Centre over economic crisis

Congress MP Rahul Gandhi on Wednesday again launched an attack on the Centre over the poor state of Indian economy. Rahul Gandhi said the Union government needs to give money to the poor to restart the economy through consumption. He also alleged that the government’s plan to distract the people through the media would not...