India's economy is projected to grow at 7.3 per cent in 2021, even as it is estimated to contract by 9.6 per cent in 2020 as lockdowns and other efforts to control the COVID-19 pandemic slashed domestic consumption, the UN has said.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for the vaccine.
Sameera Fazili, who traces her family's roots to Kashmir, is among the latest wave of Indian American nominees to be named to US president Joe Biden's A-team. Fazili has been appointed as Deputy Director, National Economic Council.
US President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan Thursday to end “a crisis of deep human suffering” by speeding up vaccines and pumping out financial help to those struggling with the pandemic’s prolonged economic fallout.
Real GDP or GDP at Constant Prices (2011-12) in the year 2020-21 is likely to attain a level of Rs 134.40 lakh crore, as against the Provisional Estimate of GDP for the year 2019-20 of Rs 145.66 lakh crore.
India’s economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday.
While speaking to ANI, NITI Aayog Vice Chairman Rajiv Kumar on December 31 said India economy will grow at 10% in 2021-22 in real terms.
India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday.
The covid-19 induced turmoil showed weakness as well as resilience of India's economy in 2020, as the country's GDP recorded abysmal fall and breathtaking recovery.
Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9 per cent in the first quarter of the current financial year. The contraction narrowed down to 7.5 per cent in the second quarter.
The monthly bulletin of the central bank for December said the more evidence has emerged since the last bulletin which shows that the Indian economy is coming out of the Covid-induced slowdown.
PM Narendra Modi's call for Atmanirbhar Bharat during the pandemic has encouraged local companies to boost manufacturing and people are now searching for more India-made products. This emotional call has shed light on the importance of using homemade products in boosting the economy and simultaneously transforming the local businesses.
The economy contracted by a historic 23.9 per cent in the first quarter of 2020-21 on account of the impact of the coronavirus pandemic.
Saudi Arabia, the world's largest oil exporter, on Sunday said its investment plans in India are on track, noting that the Indian economy has the strength to recover from the adverse impact of the coronavirus crisis.
Lok Sabha Speaker Om Birla on Saturday said India's economy was witnessing rapid revival after the slowdown due to the coronavirus outbreak and lockdown.
Addressing the annual general meeting of the Indian Chamber of Commerce (ICC), Sitharaman said that while in early 2020 green shoots and revival signs of the economy were visible, it was upset with the pandemic setting in.
A faster recovery keeps more of the economy's supply side intact and can set India up for more prolonged above-average growth during the recovery phase, S&P Global Ratings said in a statement.
Prime Minister Narendra Modi on Tuesday laid the foundation stone of the world's largest renewable solar and wind energy 30,000 megawatts (MW) Ultra Mega Hybrid Park in Gujarat's Kutch.
Richest Indian Mukesh Ambani on Tuesday said India will grow to be among the top three economies in the world in the next two decades and per capita income would more than double.
Prime Minister Narendra Modi on Saturday said that recovery is faster than expected and economic indicators are encouraging.
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