India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday.
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.
Last week another global rating agency Fitch had projected India's economic growth in current fiscal at 12.8 per cent, while Moody's Investors Service had earlier this month said that the second wave of COVID infections presents a risk to India's growth forecast, but a double digit GDP growth is likely in 2021.
Sonia Gandhi accused Centre of giving preferential treatment to some states while maintaining "thundering silence" on requests of states ruled by Congress and opposition parties.
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic.
IndiaEs inflation trend is uncomfortably high which will restrict the Reserve Bank's ability to offer further rate cuts, Moody's Analytics said.
The International Monetary Fund has said that India's economy is on the path of gradual recovery.
The National Statistical Office (NSO) data on Friday showed that the Q2FY21 GDP on a year-on-year basis contracted by 7.3 per cent from (-)24.4 per cent in the preceding quarter.
After the economic downturn due to COVID-19, Finance Minister- Nirmala Sitharaman has raised many hopes for everyone before presenting the 2021 Budget, on February 1.
The IMF on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.
India's economy is projected to grow at 7.3 per cent in 2021, even as it is estimated to contract by 9.6 per cent in 2020 as lockdowns and other efforts to control the COVID-19 pandemic slashed domestic consumption, the UN has said.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for the vaccine.
Real GDP or GDP at Constant Prices (2011-12) in the year 2020-21 is likely to attain a level of Rs 134.40 lakh crore, as against the Provisional Estimate of GDP for the year 2019-20 of Rs 145.66 lakh crore.
India’s economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday.
India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday.
The monthly bulletin of the central bank for December said the more evidence has emerged since the last bulletin which shows that the Indian economy is coming out of the Covid-induced slowdown.
PM Narendra Modi's call for Atmanirbhar Bharat during the pandemic has encouraged local companies to boost manufacturing and people are now searching for more India-made products. This emotional call has shed light on the importance of using homemade products in boosting the economy and simultaneously transforming the local businesses.
The economy contracted by a historic 23.9 per cent in the first quarter of 2020-21 on account of the impact of the coronavirus pandemic.
Saudi Arabia, the world's largest oil exporter, on Sunday said its investment plans in India are on track, noting that the Indian economy has the strength to recover from the adverse impact of the coronavirus crisis.
Addressing the annual general meeting of the Indian Chamber of Commerce (ICC), Sitharaman said that while in early 2020 green shoots and revival signs of the economy were visible, it was upset with the pandemic setting in.
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