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GDP may shrink 7.5% this fiscal; policy reforms imperative, says former CEA Arvind Virmani


GDP may shrink 7.5% this fiscal; policy reforms imperative, says former CEA Arvind Virmani
There is a need to re-accelerate the economic growth. Indian economy is likely to contract to 7.5 per cent in 2020-21. But it will grow in double-digit in the next fiscal year, he said
PTI | January 29, 2021 | Updated 16:33 IST
Recently, Moody s Investors Service revised upwards its GDP forecasts for India to (-) 8.9 per cent contraction in 2020 as the economy reflates after a long and strict nationwide lockdown but had said the recovery is patchy
Indian economy is likely to contract 7.5 per cent in the current fiscal but will see a double-digit growth in 2021-22, former chief economic adviser Arvind Virmani said on Wednesday. ....

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Indian economy still 'weak', credit growth bottoming out: BofA Securities


Indian economy still weak , credit growth bottoming out: BofA Securities
On the positive side, BofA Securities said credit demand is bottoming out and the real lending rates adjusted for wholesale price inflation are falling
PTI | January 16, 2021 | Updated 08:53 IST
The government expects the GDP to contract 7.7 per cent in financial year 2021 because of the reverses
American brokerage BofA Securities on Friday said the Indian economy continues to be weak , pointing to activity indicators tracked by it. On the positive side, the brokerage said credit demand is bottoming out and the real lending rates adjusted for wholesale price inflation are falling.
It can be noted that there has been a slew of reports lately about a stronger recovery being underway after the jolt caused by the pandemic. The government expects the GDP to contract 7.7 per cent in financial year 2021 because of the reverses. The bad news is that the continued drop in our BofA India Activi ....

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