RBI's forecast for growth is 10.5% for the current fiscal year. Most analysts expect the RBI to lower it in the June 4 monetary policy announcement
Our pessimistic tail-risk scenario assumes another wave of infections and a two-month period of restrictions that disrupt economic activity, Barclays said
Bandhan Bank MD & CEO Chandra Shekhar Ghosh is hopeful that the economy will rebound by the third and fourth quarters of the current fiscal, enabling the lender to meet its targets. He said the bank had exercised caution amid the COVID-19 pandemic and made additional provisioning in the last quarter of 2020-21. "We remain cautiously optimistic for the current fiscal as we have made additional provisioning as safeguard. The second wave of Covid pain is expected to subside in the next two-three months, and this time people are better geared than the first wave that took everyone by surprise. "The worst seems to be over, and the economy will rebound by the time major lending business happens in Q3 and Q4, to meet our targets," Ghosh told PTI. On NPAs, he said the numbers will come down with time as borrowers are aware about missing repayments amid the pandemic scenario. "I recently went to an area where NPAs are high, and people acknowledged Bandhan's role in developmen
Many economists are cutting their forecasts for the current fiscal year as rising unemployment and dwindling savings dim the chances of a double-digit growth
Covid-19 infections in India have surged past 21 million, with a death toll of 230,168, health ministry data showed
S&P Global Ratings on Wednesday slashed India's GDP growth forecast for the current financial year to 9.8 per cent saying the second COVID wave may derail the budding recovery in the economy and credit conditions. The US-based rating agency in March had a 11 per cent GDP growth forecast for India for the April 2021-March 2022 fiscal on account of a fast economic reopening and fiscal stimulus. S&P, which currently has a 'BBB-' rating on India with a stable outlook, said the depth of the Indian economy's deceleration will determine the hit on its sovereign credit profile. The Indian government's fiscal position is already stretched. The general government deficit was about 14 per cent of GDP in fiscal 2021, with net debt stock of just over 90 per cent of GDP. "India's second wave has prompted us to reconsider our forecast of 11 per cent GDP growth this fiscal year. The timing of the peak in cases, and subsequent rate of decline, drive our considerations," said S&P Global ...
The country is already facing a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10% of GDP
Those at Nomura, too, expect the pain in the economy to grow given the recent measures to curb the pandemic. However, they believe that the overall impact will be muted and be for the short-term
The earlier projection was 10.4 per cent
SBI has also lowered the gross domestic product (GDP) estimates for fiscal 2021-22 (FY22)
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 ..
Economic activities are getting affected across the country due to curbs imposed by states
Overall RBI monetary policy was on expected lines and the policy statement highlighted its commitment to do whatever it takes to ensure financial stability
The disconcertingly sharp new wave of Covid-19 cases has reignited uncertainty regarding the economic outlook in the immediate term
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
GDP projection revised upwards, but lower than Eco Survey's
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
More than one-third of chief marketing officers (CMOs) are hopeful of V-shaped recovery of their industries, the report said
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
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