Page 7 - India Gdp Growth

Covid impact: S&P slashes India's GDP growth forecast to 9.8% for FY22

S&P Global Ratings on Wednesday slashed India's GDP growth forecast for the current financial year to 9.8 per cent saying the second COVID wave may derail the budding recovery in the economy and credit conditions. The US-based rating agency in March had a 11 per cent GDP growth forecast for India for the April 2021-March 2022 fiscal on account of a fast economic reopening and fiscal stimulus. S&P, which currently has a 'BBB-' rating on India with a stable outlook, said the depth of the Indian economy's deceleration will determine the hit on its sovereign credit profile. The Indian government's fiscal position is already stretched. The general government deficit was about 14 per cent of GDP in fiscal 2021, with net debt stock of just over 90 per cent of GDP. "India's second wave has prompted us to reconsider our forecast of 11 per cent GDP growth this fiscal year. The timing of the peak in cases, and subsequent rate of decline, drive our considerations," said S&P Global ...

Second Covid-19 wave heightens downside risks to India's GDP, says S&P

The country is already facing a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10% of GDP

Ind Ra revises down India's fiscal 2022 GDP growth forecast to 10.1%

The earlier projection was 10.4 per cent

S&P forecasts 11% growth for India this fiscal, flags impact of lockdowns

S&P Global Ratings on Thursday said the Indian economy is projected to grow at 11 per cent in the current fiscal, but flagged the "substantial" impact of broader lockdowns on the economy. In its report on Asia-Pacific Financial Institutions, S&P said the control of COVID-19 remains a key risk for the economy. New infections have spiked in recent weeks and the country is in the middle of a second pandemic wave. "Our forecast growth of 11 per cent for India in 2021 is followed by a 6.1 per cent-6.4 per cent forecast increase for the next couple of years... Some targeted lockdowns have already been implemented and more will likely be needed. The impact of broader lockdowns on the economy could be substantial, depending on their length and scope," it said. S&P, which currently has a 'BBB-' rating on India with a stable outlook, has forecast an 11 per cent growth in the Indian GDP for the fiscal beginning April 1 on account of a fast economic reopening and fiscal stimulus. As ..

Nomura cuts India's 2021 GDP forecast to 11.5%; sees higher inflation

Nomura GDP forcast: Repricing of emerging market (EM) risk premium, Nomura said, could expose vulnerabilities in Indonesia, India and the Philippines

Sporadic lockdowns to cost India $1.25 billion per week: Barclays

Barclays has maintained FY22 real GDP growth forecast at 11 per cent y-o-y - at least for now, cautioning against the downside risk if the covid-19 lockdowns and night curfews are tightened further

India's debt-to-GDP rose to 90% during Covid-19 pandemic, says IMF

In 2020, fiscal policy also contributed to mitigate falling economic activity and employment. It avoided falls on the scale of the great depression.

Monetary Policy: GDP growth projections may be left unchanged amid Covid-19

It is likely to keep policy rates on hold, maintain its accommodative stance going into FY22, and sound dovish amid rising Covid-19 cases

Topsy-turvy world: Nations like India can't take sides in US-China cold war

The world has changed beyond recognition since the time when think-tanks parroted theories about the 'domino effect', writes Pankaj Mishra.

India's exports jump 58% to hit all-time high of $34 billion in March

India becomes a net importer in March, trade deficit widens to $14 billion

Indian growth outlook brightens but Covid-19 casting a shadow: Poll

The March 26-April 1 poll showed economists now expect the economy to grow a record 27.0% this quarter

World Bank ups FY22 GDP growth projection for India by 4.7 percentage pts

Pegs economic growth at 10.1%, also gives range of 7.5-12.5% given Covid-induced uncertainty

India's economy on path of gradual recovery: International Monetary Fund

India's economy is on the path of gradual recovery, real GDP growth, return to positive territory in fourth quarter of 2020, IMF's spokesperson Gerry Rice said

Covid-19 pushes back India's $5 trn GDP goal by 3 years to FY32: Report

Currently, the country is the fifth largest economy in the world behind Germany

India to emerge as world's third largest economy in 2031: BofA Securities

Covid-19 to push back this feat by three years. BofA had earlier projected this in 2017 and had expected the Indian economy to achieve this status by 2028

Chief Economic Advisor Subramanian bats for growth over inflation

Subramanian on Saturday has said that the country requires growth at this juncture

India's GDP to grow 11% in FY22, contract 8% in FY21, says CRISIL

GDP is likely to touch the pre-pandemic level only by the second quarter of fiscal year 2022

Rising Covid cases a major downside risk to India's growth: FinMin report

The report sees the GDP growth to be in positive territory in the second half of 2020-21

Services activity at 1-yr high on rise in demand, favourable mkt conditions

If growth sustains in March, GDP may expand in Q4, contrary to official forecast

Q3 GDP growth number: Covid-driven recession over, double dip ahead

GDP is implicitly projected by NSO to slip back into contraction of 1.1% in Q4FY21. This appears to be an outcome of the back-ended release in the Govt's subsidies that is on the anvil in Q4