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Back to the future: On rebound of Indian economy


The economy may have emerged from the woods, but challenges loom
After two quarters of a sharp contraction, India’s economy is estimated to have rebounded out of a ‘technical recession’ to record feeble growth in the October-December 2020 period, with GDP rising by 0.4% and GVA by 1%. The overall numbers are not surprising. Just as the short-notice pandemic lockdown and the subsequent case surge took the wind out of mobility and economic activity in the first half of the fiscal year, the ‘unlocking phase’ that was largely complete by late September, brought back a semblance of normalcy, with pent-up and festival demand spurring spending, and helping reboot production lines. Agriculture remained the resilient bulwark in the third quarter as well, with farm GVA rising by 3.9% after being the sole sector to clock growth in the preceding two quarters. Manufacturing and construction resurfaced from a collapse to expand 1.2% and 6%, respectively. Both these sectors had be ....

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India s Economy Probably Resumed Growing Last Quarter


BW Businessworld
India s Economy Probably Resumed Growing Last Quarter
The forecasts ranged from a contraction of 4.7% to growth of 2.6%. India is set to announce GDP data for the December period on Friday at 1200 GMT.
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India s economy probably returned to growth in its fiscal third quarter after a recession earlier in 2020, economists said, and the recovery is expected to gather pace as consumer demand and investments shake off the effects of the pandemic.
The median forecast from a survey of 58 economists this week predicted gross domestic product in Asia s third-largest economy grew 0.5% year-on-year in the December quarter, after shrinking 23.9% and 7.5% in the April-June and July-September periods, respectively. ....

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