Ex-Niti Aayog Vice Chairman Rajiv Kumar explained the behaviour of the Indian economy by saying major risks going forward will emerge from a synchronized downturn in the North American and European economies.
In the June monetary policy, the RBI had lowered the growth projection for 2021-22 to 9.5 per cent from 10.5 per cent estimated earlier.
Abhijit Banerjee said that boosting the state's economy is directly related to the revival of the country's economy as it is under stress due to the ongoing pandemic situation.
As per the data released by the National Statistical Office (NSO), India’s Gross Domestic Product (GDP) for the April-June quarter (Q1) slipped by a sharp 23.9 per cent.
Moody's Investors Service on Tuesday lowered India's GDP growth forecast for 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy.
The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier, mainly due to deceleration in mining, manufacturing and farm sectors.
Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 at 7.2 per cent.
India's GDP growth rate declined to 7.1 per cent during the July-September quarter, compared to April-June's 8.2 per cent, the official data had revealed on Friday.
The Asian Development Bank (ADB) has projected India to remain the fastest growing Asian nation with 7.3 per cent growth in 2018-19, and 7.6 per cent in 2019-20.
The IMF estimates for India are slightly better than the World Bank’s estimate of 7.3% for the next fiscal year made earlier this month.
Brussels, July 1: Perturbed over criticism by certain industry leaders, HSBC India Head Naina Lal Kidwai has said that perception of global business community about India is better than its own industry back home.“... our
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