Second Covid wave poses risk to India’s growth, but impact will be less severe than last year: Moody’s

The second wave of Covid infections poses a risk to India’s economic growth, but the impact will be less severe than last year, a Moody’s report said on Tuesday. It added that a focus on “micro containment” zones to deal with the current wave of infections, as opposed to a nationwide lockdown, would mitigate the economic […]

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Stronger global economic recovery seen one year into pandemic, but future still daunting, says IMF

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The International Monetary Fund (IMF) projected a stronger recovery for the global economy in its latest World Economic Outlook, but said the future was still daunting as the world still faces extreme social and economic strain one year into the Covid-19 pandemic. “We are now projecting a stronger recovery for the global economy compared with our […]

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Central bank projects India’s economic growth at 10.5% next FY

The Reserve Bank of India (RBI) projected the country’s economic growth rate at 10.5% for the next financial year starting April 1, predicting a rebound following a year of contraction in the wake of the Covid-19 pandemic. The central bank had estimated the economic growth during the current financial year at -7.5%. India was the […]

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India’s GDP to contract by 7.7% this FY, but will rebound to 11% growth next FY – Economic Survey

India’s economy is expected to contract by 7.7% during the financing year ending March 31, despite a sharp rebound seen in  the second half of the year following a contraction of 15.7% in the first half, according to the annual Economic Survey. It estimated the contraction in the second half of the fiscal year at […]

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India’s central bank keeps key rate unchanged amid optimism about economic recovery

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The Reserve Bank of India on Friday decided to keep the repo rate unchanged at 4% while pledging to keep its accommodative monetary stance unchanged for as long as necessary to cope with covid’s impact. The reverse repo rate was also kept at the the current leve of 3.35%. It noted that tbe global economy […]

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India officially in recession, but second quarter economic contraction slower than expected

The Indian economy shrunk for the second straight quarter — three months to September — technically entering into recession for the first time, but the rate of contraction was slower than anticipated raising hopes for a quick revival. According to a government statement, the gross domestic product (GDP) fell 7.5 percent from a year ago […]

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Moody’s forecasts lower GDP fall for India in FY21; Morgan Stanley too projects lower contraction

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India’s latest round of stimulus measures shifted focus back to longer-term growth by focusing on manufacturing and job creation, global rating agency Moody’s said, as it predicted a 10.6% contraction in the country’s real GDP in FY21, against a 11.5% drop forecast earlier. India’s economy has started to heal as is evident by a significant […]

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India’s central bank estimates GDP to contract by 8.6% in Q2; enters recession for first time

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India’s GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal with two successive quarters of negative growth due to the COVID-19 pandemic, as per an RBI official reported by the Press Trust […]

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