"indian-economy"

Flagging low innoculation rate, it said faster vaccination progress will be paramount in restricting economic losses to the current quarter.

According to an assessment by the Reserve Bank, the second wave has cost the nation about Rs 2 lakh crore in terms of output lost.

CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22.

Crisil said that the second Covid wave has thrown cold water over the Indian economy that was beginning to warm up after witnessing the most severe contraction since Independence.

The government must lead the investment cycle but focus on completing the several projects that are underway and not start new ones.

In its report, 'Asian Development Outlook (ADO) 2021', the ADB also noted that the recent surge in Covid-19 cases may put this recovery at risk.

Moody's had bettered India's growth projection for the current fiscal year, which began on April 1, to 13.7 percent as economic activity gathered pace.

The report noted that India's PMI Manufacturing Index of 55.4 in March indicated some loss of momentum compared to February.

The Niti Aayog Vice-Chairman also noted that the Indian economy is now surging towards a recovery. 

"India is already looking at 'V-shaped' recovery. Along with the green shoots in various sectors, in the month of February, FPI inflows were Rs 25,787 crore," Thakur said.

The government must address societal disquiet for the economic recovery to be equitable

Likewise, the NSE barometer Nifty settled with a gain of 232.40 points or 1.60 per cent at 14,761.55.

Stating that India needs many things to be right for its recovery to continue, S&P said the country needs to quickly and thoroughly vaccinate most of its 1.4 billion people

He noted that the idea of a bad bank is to buy bad loans and other illiquid holdings of another financial institution and by transferring such bad loans to bad bank, the original institution can clear its balance sheet.

The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers.

While one can take comfort in IMF’s praise for India’s “very decisive” steps to deal with the pandemic, several challenges need to be overcome

Recovery could have been much faster if the government has spent more, says an expert.

The report, however, expected the gross domestic product (GDP) to dip in 2022-23 fiscal year to 6.8 per cent.

India's GDP growth was forecast to dip in 2022 calendar year to 5.9 per cent, according to the report.

The subsequent lockdown brought with it several new problems including stopping of construction activities, unavailability of labour, muted sales and tepid buyer sentiment.