India's strong external settings will act as a buffer against financial strains despite increased government funding needs in next 24 months, S&P Global Ratings stated.
The credit rating agency said it didn't expect the impact of lockdown this year to be as severe as last year's & predicted real GDP growth to average around 6% over the longer term.
Indian economy is expected to do better than last year, but growth could be 11% or even lower, compared to the pre-2nd wave projections of 13% and above.
Studies have shown that over 200 million Indians are expected to fall into poverty as a result of shutdowns & healthcare costs. The S&P has now downgraded the GDP growth to 9.8%.
The US-based rating agency in March had expected an 11% GDP growth forecast for India for April 2021-March 2022 fiscal on account of a fast economic reopening and fiscal stimulus.
Sanjeev Sanyal, Principal Economic Adviser in the finance ministry was the guest at this edition of ThePrint's Off The Cuff.
In a conversation with ThePrint's...
KV Subramanian said India must continue to focus on growth so that 'we expand the pie, enabling redistributive policies that lift people out of poverty'.
India’s GDP is projected to contract in FY21. But as restrictions ease, supply side disruptions are addressed and demand picks up, the economy is expected to rebound.
A stunted middle class may be a direct result of extreme inequality. Folks at the top don’t see teeming masses as a meaningful market, except for utilities, soap, short videos, and personal loans.
While the commission didn’t mention provisions under which IndiGo's market domination would be examined, Competition Act 2002 prohibits abuse of dominant position by any enterprise.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
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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