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Fitch affirms BBB- rating, says Covid surge may delay economic recovery


Fitch affirms BBB- rating, says Covid surge may delay economic recovery
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Fitch affirms BBB- rating, says Covid surge may delay economic recovery
PTI / Updated: Apr 22, 2021, 21:47 IST
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People waiting in line infront of a test centre to get a Covid test done. India has been experiencing an unprecedented surge in Covid-19 cases currently. (Representative image)
NEW DELHI: Fitch Ratings on Thursday said the resurgence of Covid-19 infections may delay India s economic recovery, but won t derail it, as it kept the sovereign rating unchanged at BBB- with a negative outlook.
It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. ....

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As economy recovers, survey shows 59 per cent firms in India intend to give salary increments in 202- The New Indian Express


As economy recovers, survey shows 59 per cent firms in India intend to give salary increments in 2021
The study found that the southern market will lead in terms of new job opportunities with 37 per cent hiring, followed by the western zone with 33 per cent.
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By PTI
MUMBAI: As the economy moves to a recovery path after a sharp decline last year amid the pandemic, a study has shown that 59 per cent of companies in India are intending to give salary increments to their employees in 2021.
According to staffing company Genius Consultants 10th Hiring, Attrition and Compensation Trend 2021-22 , with this impressive growth rate, the market is expected to be stable, and the companies will also relook at their business continuity strategy along with strengthening the workforce. ....

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India well-armed to tackle Covid surge risks: Finance ministry


Most economists expect it to record double digit growth in the current fiscal year. (Representative image)
NEW DELHI: India is well armed to combat any downside risk posed by the recent surge in Covid cases, a finance ministry report said on Monday, asserting that the recovery is resilient with sustained improvement in majority of high-frequency indicators.
“After battling a historic pandemic in FY21, the Indian economy is poised to build back better and stronger as is reflected in the movement of several high-frequency indicators,” according to the monthly economic report of the finance ministry.
The report by the finance ministry’s department of economic affairs said instrumental in this resilient comeback will be a strong revival in investment growth supported by the Atmanirbhar Bharat Mission and a massive boost to infrastructure and capital expenditure provided for in the budget 2021-22. ....

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