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World Bank projects India’s GDP to contract 9.6% in FY21

 The World Bank on Thursday projected India’s gross domestic product (GDP) to plunge in FY21 by 9.6% revised down since its June forecast of 3.2% drop, reflecting the impact of the nationwide lockdown and the income shock experienced by households and small urban service firms. “However, there is substantial uncertainty related to the course and […]

India Posts Worst GDP Slump of Major Nations as Virus Spikes

India’s economy posted the biggest contraction among major economies last quarter, with a recent surge in coronavirus infections weighing on the outlook for any recovery. Gross domestic product shrank 23.9% in the three months to June from a year earlier, the Statistics Ministry… To read more: https://www.bloomberg.com/news/articles/2020-08-31/india-s-economy-plunges-by-record-23-9-after-harsh-lockdown SOURCE: BLOOMBERG (1)

Virus Outbreak Gives India Chance to Boost Share of Global Trade

As the coronavirus pandemic shakes up global supply chains, India is in a position to grow its exports market share with a little help from the government, according to Nirmal Bang Institutional Equities Pvt. India , which has for long struggled to grow its share in global exports from the current 2% level, can ramp To […]

Now Crisil lowers India’s GDP growth forecast to 6.3%, says slowdown deeper than suspected

Domestic rating agency Crisil on Wednesday cut India’s GDP growth forecast to 6.3 per cent for fiscal year 2020 from its earlier forecast of 6.9 per cent. This comes after the GDP growth was at its slowest in almost 6 years and grew only at 5 per cent in the first quarter. The agency has […]

India on the road to becoming a $5 trillion economy

India is striving to become a $5 trillion economy and the world’s third largest consumer market by 2025, President Ram Nath Kovind said while addressing an Indian diaspora at the Greek capital of Athens on Monday. “We are working towards making India a $5 trillion economy and the world’s third largest consumer market by 2025. […]

Reversing five quarters of slowdown, GDP growth up to 6.3% as deficit deepens

Economic growth rebounded to 6.3 per cent in the second quarter (July to September) of 2017-18 from 5.7 per cent in the preceding quarter primarily driven by higher growth in manufacturing and businesses overcoming teething GST troubles. Read the full story at http://indianexpress.com/article/india/gdp-rebounds-to-6-3-but-fiscal-deficit-surges-4962132/ SOURCE: Times of India (16)

Experts draw attention to sharp fall in agriculture’s contribution to GDP

At a meeting on ‘Agriculture and Rural Management’ on Friday, Sankar Bhaumik of the Central University of South Bihar offered an overview of the problems plaguing agriculture in India – at the time of independence, this sector accounted for 55 per cent of GDP and employed 70 per cent of India’s workforce. By 2013-14, the […]

India moves up one notch to 126 in GDP per capita terms: IMF

India has moved up one position to 126th in terms of GDP per capita of countries, still ranked lower than all its BRICS peers, while Qatar remains the world’s richest on this parameter, as per IMF data. Read the full story at https://timesofindia.indiatimes.com/business/india-business/india-moves-up-one-notch-to-126-in-gdp-per-capita-terms-imf/articleshow/61712028.cms SOURCE: Times of India (22)

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