Vehicle retailing in India declined more than 30% in April, registration data showed, and is expected to fall to just a quarter of May 2019 figures this month.
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“The reserve prices for 5G auctions are too high. Although the 5G auctions are not yet announced, the reserve price could yield a return on capital employed of only 7%,” the ratings firm said in a note on Wednesday after the government gave its nod on commencing 5G trials.
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High price of 5G airwaves in India, willingness of users to migrate from 2G/4G to 5G and the capital expenditure that telecom companies will incur to deploy full-scale commercial 5G network are some of the unknown variables that need to be addressed before successful implementation of the next-gen technology, India Ratings and Research (Ind-Ra) said.
Recovery path for several sectors delayed due to second Covid wave: India Ratings
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The agency also expects the impact of the pandemic to spill over in FY23, with moderation in growth given a slowdown in consumption and investment demand outlook and smoothening out of supply chain issues.
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The agency also expects corporate growth to decline 3%-5% in FY21 compared with its earlier estimate of a decline of 12.2%.
Domestic agency India Ratings and Research expects the overall recovery path to be pushed back for most of the service-oriented sectors to FY22, owing to a major supply-side disruption from the second wave of COVID-19 infections.
IndRa revises India s FY22 GDP growth forecast to 10.1% on second COVID-19 wave
Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery
PTI | April 23, 2021 | Updated 15:07 IST
India Ratings and Research on Friday revised down India s FY22 real GDP growth forecast to 10.1 per cent, from earlier projection of 10.4 per cent, citing the second wave of COVID-19 infections and slower pace of vaccination. At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May.
MUMBAI: India Ratings and Research on Friday revised down India s FY22 real GDP growth forecast to 10.1 per cent, from earlier projection of 10.4 per cent, citing the second wave of Covid-19 infections and slower pace of vaccination.
At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May.
Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery.
Other brokerages and analysts have also been revising down their forecasts in the light of the second wave.