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Daily Market Commentary - May 20, 2021 - Bonanza Portfolio
equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Indian Oil Corp says will buy Iranian iil if US sanctions are lifted
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On the 72nd Republic Day, the International Monetary Fund forecast that the Indian economy would grow at 11.5 percent - the only large economy to record double-digit growth. In a hundred days since India has been witness to haemorrhaging of lives, livelihoods and confidence. The hopes of a V-shaped recovery are now stranded between a raging virus and a botched-up vaccination roll out.
The economy is under the long shadow of long COVID - as in the medical condition deleterious effects haunt the economy. In May, a parade of rating agencies as also economists have downgraded India’s growth - the best-case scenario as of now is 9 plus percent GDP growth and the worstcase scenario is 8.2 percent. To appreciate the setback, one must look at the timeline of the slide in economic prospects - where the economy was, where it is and when it could get back to where it was.
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