LegalEagle_jpeg-01.jpg

LEGALEAGLE LAW FORUM 

  • Home

  • Blogs

  • Forum

  • Library

  • Opportunities & Events

  • BOOK STORE

  • Members

  • Honorary & Advisory Board

  • Editorial Board

  • More

    Use tab to navigate through the menu items.
    To see this working, head to your live site.
    • Categories
    • All Posts
    • My Posts
    Ravi
    Bronze
    Dash  ·  
    Apr 23, 2021

    Ratings Of Different Institution; CEA Called No Big Impact On The Economy Due To Second Wave

    in News Updates


    Image Source: economictimes.indiatimes.com


    CEA K V Subramanian on Thursday called that the impact of the second wave on the economy may not be very big. In the webinar conducted by the Finacial Times and The Indian Express, he said that there is more knowledge and experience from the past on how to handle the situation, and India going to national lockdown is very unlikely. India will achieve a growth rate of more than 7% in a couple of years and this year would be the exception due to the very low base.


    India Ratings and Research revised down India's real GDP growth rate to 10.1% from 10.4%. The reason it put in is the second wave of COVID-19 but it will not be much harmful to the economy as the first one was. RBI also stated the second wave the major impediment to overcome this year.


    SBI Research also downgrades the growth rate from 11% to 10.4% by citing the increasing restrictions across the states. SBI Research preferred to ramp up the vaccination speed instead of lockdowns which will create more restrictions.


    Fitch Ratings have maintained, the negative outlook, 'BBB-' sovereign rating for India as the second wave creates the downgrade risks on the GDP growth in FY22. "We forecast a 12.8% recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8% in FY23, from an estimated contraction of 7.5% in FY21".

    0 comments
    Comments
    0 comments
    Similar Posts
    • IMPACT OF COVID-19 SECOND WAVE ON ECONOMY TO REMAIN MUTED: FINANCE MINISTRY REPORT
    • Impact on economy due to second wave of virus will not be as severe as the first: Finance Secretary
    • FINANCIAL NEWS: Credit shrinks less in second covid 19 wave due to lockdown

    Subscribe Form

    Thanks for submitting!

    legaleagle.official@gmail.com

    Mobile numbers- 8888590697, 7776044305

    • Twitter
    • YouTube
    • Instagram

    ©2020 by LegalEagle