The global economy is expected to expand 4pc in 2021 after shrinking 4.3pc in 2020, the World Bank said yesterday, although it warned that rising Covid-19 infections and delays in vaccine distribution could limit the recovery to just 1.6pc this year.
Synopsis
India is expected to grow at 10% next fiscal to become one of the fastest-growing economies in Asia-Pasific.
Professor of Economics, Delhi School of Economics, Contributor Content
Solution: To achieve the $5 trillion economy dream, India needs to make massive investments. Three sectors calling out for specific attention are healthcare, agriculture and infrastructure.
Will the Indian economy cross the $5-trillion mark? It is like asking if the sun will rise tomorrow. The real question is: when?
Belying many doomsday predictions, the Covid-struck Indian economy has proven to be resilient. Recent data provides some evident signs of recovery. Auto sales, consumer durables, freight traffic, and consumption of petroleum products, all have shown a marked acceleration in the last 3-4 months. The GST figures for December 2020 at Rs 1.15 lakh crore are by far the highest monthly collection with an impressive year-on-year growth rate of 11.6 percent.
GALLUP International : Azərbaycan dünyada iqtisadi ümid indeksinə görə ən yüksək nəticə göstərən ölkələrdəndir yeniazerbaycan.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yeniazerbaycan.com Daily Mail and Mail on Sunday newspapers.
Global economy to expand by 4 pc in 2021: World Bank ANI | Updated: Jan 06, 2021 11:27 IST
Washington DC [USA], January 6 (ANI): The global economy is expected to expand by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year, the World Bank has said.
A recovery, however, will likely be subdued unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms, it said in its latest Global Economic Prospects report.
In India, the pandemic hit the economy at a time when growth was already decelerating. Output is estimated to contract by 9.6 per cent in fiscal year 2020-21, reflecting a sharp drop in household spending and private investment.