GDP to be in growth territory in December qtr, says report
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Last Updated: Feb 16, 2021, 06:01 PM IST
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Synopsis
The economy contracted almost by a fourth in the June quarter and by 7.5 per cent in the September quarter in the current fiscal. Even as a recovery is underway, official estimates peg the FY21 contraction at 7.7 per cent.
It can be noted that the economic growth has been on a downward spiral for over three years till it went into a contraction mode.
Mumbai: After two consecutive quarters of contraction, India s Gross domestic product (GDP) is set to revert to the growth territory in the October-December 2020 period compared to the year-ago period, according to a report. Private consumption and government spending will help the economy post a turnaround during the December quarter and the GDP will grow 0.7 per cent, Icra Ratings said in a report on Tuesday.
February 15, 2021
Positive consumer price index data, index of industrial production will boost market sentiment: Analysts
Nifty50 index is likely to open with a gap of 80 points gains on Monday, as trends emerge on SGX Nifty. The SGX Nifty is ruling at 15,240 against Nifty50 February futures’ Friday close of 15,161.
Positive consumer price index data and index of industrial production will also boost market sentiment, said analysts. The IIP is also giving broad indications of a rebound in economic activity with the reading for December 20 at 1 per cent against negative 2.10 per cent for November 20. What is significant is the pick-up in both consumer durables and non-durables as also infra goods.
This comes after IIP had contracted by 1.9 per cent in November. It had expanded in October and September after six straight months of contraction due to Covid-19. Analysts had then termed this a temporary blip.
Read more about Industrial output recovers by a small 1%, retail inflation at 16-month low on Business Standard. Experts say MPC may continue with accommodative stance in next nine months