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Tag: GDP

SBI Ecowrap Report predicts India GDP to contract 7.4% in FY21

December 17, 2020
GDP
  • The State Bank of India, in its research report ‘Ecowrap’ has updated the GDP growth of India at (-) 7.4 percent in FY21.
  • Earlier this prediction was (-) 10.9 percent. The SBI research report has also forecast India’s GDP growth in FY22 at 11 percent.

S&P revises India’s GDP contraction forecast in FY21 to 7.7%

December 16, 2020
GDP
  • S&P Global Ratings (earlier Standard & Poor’s) has boosted India’s GDP growth prediction for the FY21 (2020-21) to – 7.7 percent from – 9 percent predicted earlier.
  • The lower contraction rate is based on rising demand and falling COVID infection rates.

CRISIL lowers contraction rate for India at -7.7% in FY21

December 15, 2020
GDP
  • Rating agency CRISIL has lessened the contraction rate of India’s GDP and now expects the growth rate of the Indian economy to decline 7.7% in the ongoing fiscal 2020-21, compared to the 9% forecast in September 2020, due to “faster-than-expected” recovery in the second quarter.

ADB predicts the GDP of India at -8% in 2020

December 11, 2020
GDP
  • The Asian Development Bank (ADB) has predicted India’s economy to contract 8 percent in 2020, as against (-)9.0 percent previously forecast.
  • In its latest Asian Development Outlook report published on 10 December 2020, ADB also expects the GDP of India to bounce back with growth of 8.0 percent in 2021.

OECD predicts India’s FY21 GDP at -9.9%

December 2, 2020
GDP
  • The Organisation for Economic Co-operation and Development (OECD) has marginally raised its GDP prediction for India to a contraction of 9.9% in 2020-21 (FY21) from its earlier projection of (-)10.2% in September 2020.

UBS predicts India’s GDP at -10.5% for FY21

November 29, 2020
GDP
  • The UBS has projected India’s real GDP to decline 10.5% in FY21, in its Global Economics & Markets Outlook 2021-2022 report.
  • For the fiscal 2021-22 (FY22) UBS assumes India’s real GDP growth to rebound to +10%  in FY22. UBS also estimates India’s GDP to stabilize at 6.2 percent YoY in FY23.

India’s GDP contracts 7.5% in September Quarter

November 28, 2020
GDP
  • The National Statistical Office (NSO) has published the estimates of Gross Domestic Product (GDP) for the second quarter (July-September) Q2 of 2020-21.
  • The GDP at Constant (2011-12) Prices in Q2 of 2020-21 is approximated at Rs 33.14 lakh crore, as against Rs 35.84 lakh crore in Q2 of 2019-20, showing a contraction of 7.5% as compared to 4.4% growth in Q2 2019-20.

Moody’s predicts India GDP for 2020 at -8.9%

November 13, 2020
Moody’s
  • Rating Agency Moody’s has predicted the GDP of India at -8.9% for the calendar year 2020.
  • Earlier this was predicted at -9.6%. Apart from this, India’s GDP growth for Calendar year 2021 is projected at 8.6% by Moody’s from 8.1% earlier.