A faster recovery keeps more of the economy's supply side intact and can set India up for more prolonged above-average growth during the recovery phase, S&P Global Ratings said in a statement.
Richest Indian Mukesh Ambani on Tuesday said India will grow to be among the top three economies in the world in the next two decades and per capita income would more than double.
In its 2021 outlook for rated Indian non-financial corporates, Moody's cited earnings growth on the back of widespread demand revival across sectors as the reason for giving a 'stable outlook' for Indian corporates in 2021.
The second-quarter gross domestic product (GDP) data on India will be released today with the industry expecting positive news. The data will be released by the National Statistical Office.
Fitch Ratings on Friday said the revival of the government's reform agenda in response to the coronavirus pandemic shock has the potential to raise India's medium-term growth rate.
The Indian economy is seen recovering faster than expected and the Reserve Bank is likely to have come to an end of the rate easing cycle, according to global forecasting firm Oxford Economics.
The Indian economy is witnessing a strong recovery after a long and strict lockdown, Finance Minister Nirmala Sitharaman on Thursday said.
The country's economy, which has shown resilience to come out from a downturn caused by the COVID-19 pandemic, is expected to bounce back from the next fiscal, State Bank of India chairman Dinesh Kumar Khara said on Saturday.
Finance Secretary Ajay Bhushan Pandey has indicated that the Modi government is working on another stimulus package.
The last six years have seen the spirit of competitive and cooperative federalism in all our actions. A country as large as ours cannot develop only on the one pillar of the Centre, it needs the second pillar of states, Prime Minister Narendra Modi has said.
Earlier on Tuesday, the IMF projected that India is set to drop below Bangladesh in terms of per capita GDP as the economy is projected to contract by a massive 10.3 per cent this year.
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday.
The economic recovery of India has gained momentum due to the "Aatmanirbhar Bharat" economic package announced in May, said a report by the Department of Economic Affairs (DEA).
Impacted by disruptions caused by the COVID-19 pandemic, India's economy is forecast to contract by 5.9 per cent in 2020, the UN has said in a report, warning that while growth will rebound next year, the contraction is likely to translate into a permanent income loss.
India's coronavirus-battered economy will shrink by 9 per cent this fiscal, the Asian Development Bank (ADB) predicted on Tuesday saying growth outlook remains highly vulnerable to either a prolonged outbreak of the pandemic or a resurgence of cases. This will be the first time in four decades that the Indian economic growth will contract.
Fitch Ratings on Tuesday projected a massive 10.5 per cent contraction of India''s economy in the current financial year. India recorded one of the sharpest gross domestic product (GDP) contractions in the world in April-June.
The RBI had earlier said the country's GDP will contract in FY21, but did not give any number on the same, even as analysts are pegging a negative growth of up to 9.5 per cent.
Due to coronavirus pandemic India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1%. The Chief Economists at the World Economic Forum answers how long will it take for India to recover from this?
Former finance secretary Subhash Chandra Garg on Tuesday said the Indian economy will shrink by 10 per cent or Rs 20 lakh crore in the ongoing fiscal, the first contraction in over 40 years, due to a "faulty" COVID lockdown.
S&P said India has limited room to maneuver on policy support. The Reserve Bank of India has cut policy rates by 115 basis points but banks have been unwilling to extend credit. Small and mid-size enterprises continue to face restricted access to credit markets despite some policy measures aimed at easing financing for the sector.
Top News
Latest News
