“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.
Former civil servants Vijay Kelkar and Ajay Shah write that we in India revere success and wealth. We assume good HR practices in TCS will work in govt.
India should have secured greater savings by pressing Russia for prices nearer the cap while sustaining high volumes. This would have preserved strategic autonomy and served economic logic.
One such website has drawn particular scrutiny for spreading fake stories that have upset not only the Indian but also foreign defence firms by falsely attributing misinformation.
COMMENTS