Last week, Fitch Ratings had slashed the country's GDP projection to 7% for current fiscal year citing elevated inflationary levels and higher interest rates.
“This is a downward revision from our 8.5% forecast in March as inflationary impacts of global commodity price shock are dampening some of the positive growth momentum,” the ratings agency said.
The government has revised its GDP growth estimate for 2021-22 to 8.7 per cent on account of economic disruptions caused by the Covid-19 pandemic and spike in inflation.
Former CEA Arvind Subramanian argued last year that India’s GDP growth is overestimated by 2.5 percentage points. This was dismissed by Prime Minister’s Economic Advisory Council.
Through film, textile, scent, sound, and gesture, spectators are invited to descend into an immersive environment where inherited knowledge seeps through material and form.
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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