Page 15 - Gdp Forecast
S&P forecasts 11% growth for India this fiscal, flags impact of lockdowns
S&P Global Ratings on Thursday said the Indian economy is projected to grow at 11 per cent in the current fiscal, but flagged the "substantial" impact of broader lockdowns on the economy. In its report on Asia-Pacific Financial Institutions, S&P said the control of COVID-19 remains a key risk for the economy. New infections have spiked in recent weeks and the country is in the middle of a second pandemic wave. "Our forecast growth of 11 per cent for India in 2021 is followed by a 6.1 per cent-6.4 per cent forecast increase for the next couple of years... Some targeted lockdowns have already been implemented and more will likely be needed. The impact of broader lockdowns on the economy could be substantial, depending on their length and scope," it said. S&P, which currently has a 'BBB-' rating on India with a stable outlook, has forecast an 11 per cent growth in the Indian GDP for the fiscal beginning April 1 on account of a fast economic reopening and fiscal stimulus. As ..
 "S&P forecasts 11% growth for India this fiscal, flags impact of lockdowns")
Care Ratings revises India's GDP growth forecast to 10.2% for FY22
Economic activities are getting affected across the country due to curbs imposed by states
 "Care Ratings revises India's GDP growth forecast to 10.2% for FY22")
Market impact of positives from the MPC meet may be seen with a lag
Overall RBI monetary policy was on expected lines and the policy statement highlighted its commitment to do whatever it takes to ensure financial stability
 "Market impact of positives from the MPC meet may be seen with a lag")
MPC to maintain accommodative stance at least in the next two reviews
The disconcertingly sharp new wave of Covid-19 cases has reignited uncertainty regarding the economic outlook in the immediate term
 "MPC to maintain accommodative stance at least in the next two reviews")
Consumer sentiment in India's recovery
Growth that bounced back from -23.9 per cent in the first quarter to -7.5 per cent now seems poised to return to the positive zone in the third quarter
RBI monetary policy: Govt told to cut fuel taxes to ease inflation concerns
GDP projection revised upwards, but lower than Eco Survey's
 "RBI monetary policy: Govt told to cut fuel taxes to ease inflation concerns")
Covid slump may cause 7.7% GDP contraction in FY21: First Advance Estimate
The government's First Advance Estimate suggests the worst performance ever for the Indian economy in the wake of the slowdown caused by the coronavirus pandemic
 "Covid slump may cause 7.7% GDP contraction in FY21: First Advance Estimate")
35% of CMOs are hopeful of V-shaped industrial recovery: Report
More than one-third of chief marketing officers (CMOs) are hopeful of V-shaped recovery of their industries, the report said
 "35% of CMOs are hopeful of V-shaped industrial recovery: Report")
Indian economy recovering fast, growth to turn positive in Q3: RBI article
Growth will enter positive zone in the third quarter of the current financial year, said an article on the 'state of economy' in the RBI Bulletin
 "Indian economy recovering fast, growth to turn positive in Q3: RBI article")
Ind-Ra revises FY21 GDP contraction to 7.8% on easing pandemic headwinds
Ind-Ra now expects third quarter to see contraction at 0.8 per cent and fourth quarter to print in 0.3 per cent growth
 "Ind-Ra revises FY21 GDP contraction to 7.8% on easing pandemic headwinds")
Icra narrows its GDP decline forecast for FY21 to 7.8% from 11% earlier
Agency had forecast a small contraction of one per cent during Q3
 "Icra narrows its GDP decline forecast for FY21 to 7.8% from 11% earlier")
Analysts revise Q2 GDP projections, are divided on sharpness on contraction
As Q2 will be the second quarter of economic contraction, India in all probability has entered a technical recession for the first time since quarterly GDP data began being compiled
 "Analysts revise Q2 GDP projections, are divided on sharpness on contraction")
Goldman ups India GDP forecast on vaccine hopes, now sees 10.8% contraction
The US-based firm said developments on the vaccine front -- where two candidates have posted satisfactory progress -- will be very helpful in the recovery
 "Goldman ups India GDP forecast on vaccine hopes, now sees 10.8% contraction")
Moody's raises India's 2020 GDP forecast to -8.9% as Covid cases drop
India's economy had the biggest contraction, 24 per cent year-over-year in the second quarter
Location data, goods moved: More weekly indicators on economy turn positive
Power generation numbers and Delhi emissions, too show economy may be turning the corner
 "Location data, goods moved: More weekly indicators on economy turn positive")
Icra scales up projection for GDP contraction to 11% from 9.5% earlier
Attributes move to continued spread of Covid-19 pandemic
ICRA revises forecast, pegs India's FY21 GDP contraction at 11% from 9.5%
Ratings agency ICRA has revised its forecast for the contraction in India's FY21 GDP to 11 per cent from its earlier assessment of 9.5 per cent
 "ICRA revises forecast, pegs India's FY21 GDP contraction at 11% from 9.5%")
Global GDP to hit pre-coronavirus levels in mid-2021: Deutsche Bank
Deutsche raised its forecast for global GDP, expecting it to shrink 3.9% this year after predicting in May a contraction of 5.9% for 2020
 "Global GDP to hit pre-coronavirus levels in mid-2021: Deutsche Bank")
Whatever the calculation, India's Q1 GDP contraction is severest among all
Irrespective of whether it is sequential or year-on-year, the inference remains the same; South Africa's 50% contraction is "annualised" and is incomparable to India's 24% fall
 "Whatever the calculation, India's Q1 GDP contraction is severest among all")
GDP to contract 8.6% in FY21, fiscal stimulus needed soon: UBS Securities
UBS Securities said it forecasts a GDP contraction of 8.6% in FY21 as against its earlier prediction of 5.8%, citing factors including the modest government response to the crisis for its estimate