COMMENT – India could be a dampener to global oil demand as world reopens

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Most of the world is vaccinating itself and reopening, boosting expectations that growing economies would help trigger a bump in oil demand that was viscerally hit last year, but India – one of the world’s biggest importers – remains a cause of concern. The Organization of Oil Producing Countries (OPEC) said earlier this week that […]

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India’s GDP contracts by 7.3% for 2020-21 financial year; grows by 1.6% in Jan-Mar quarter

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India’s Gross Domestic Product (GDP) for the fourth quarter (January to March) grew by 1.6%, but contracted by 7.3% for the full 2020-21 financial year, government data showed on Monday, after being severely hit by lockdowns triggered by the Covid-19 pandemic that ground all economic activity. The annual contraction was the worst in more than […]

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Moody’s cuts India growth forecast, CRISIL concurs

Moody’s Investors Service sharply cut India’s FY22 growth forecast on Tuesday to 9.3% from 13.7% estimated earlier and joined other global rating firms in trimming growth expectations for Asia’s second-largest economy amid a menacing second wave of Covid-19. Moody’s cautioned that risks from deeper stresses in the Indian economy and financial system could lead to […]

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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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IMF retains India’s FY20 growth forecast at 7.5%; CRISIL predicts a modest recovery at 7.3%

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The International Monetary Fund (IMF) has retained its growth projection for Indian economy at 7.5 per cent for 2019-20 and said it is likely to accelerate to 7.7 per cent in 2020-21. This comes on a day when China announced that its GDP recorded its lowest growth rate in 28 years at 6.6 per cent […]

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