World Bank cuts India’s GDP growth to 6.5%
Citing the deteriorating global scenario, the World Bank on Thursday downgraded India's GDP forecast for the current fiscal to 6.5 per cent.
Citing the deteriorating global scenario, the World Bank on Thursday downgraded India's GDP forecast for the current fiscal to 6.5 per cent.
Besides, it has excluded the impact of the release of food subsidy arrears in FY2021, based on the clarification provided by the National Statistical Office (NSO).
PHDCI Economy GPS Index was 103 in February 2020, with an improvement of 19 points in February 2021 over February 2020.
The GVA in Q3 2020-21 from the manufacturing sector grew 1.6 per cent, as compared to a de-growth of (-) 1.5 per cent in Q2FY21.
The GDP is projected to contract by a record 7.7 per cent in the current fiscal ending March 31, 2021, deepest contraction in four decades.
Auto unit sales will decline at least 30 per cent in 2020, following a decline of over 40 per cent in the seven months through July.
India's GDP shrank by a staggering 24 per cent year-on-year amid the imposition of one of the most stringent global nationwide lockdown.
So far, around 1,000 listed entities have announced their results for the first quarter.
The report said that as the COVID-19 pandemic is still not contained in India and partial lockdowns have been re-introduced in some parts of the country.
For the Asia Pacific region in general, SMBs continue to make progress in their digitalisation journeys, despite challenges.