India Ratings and Research ? the domestic rating agency ? on September 8 revised India’s FY21 Gross Domestic Product (GDP) growth projection to ₹11.8% from ₹5.3%.
As per the agency, the countrys GDP is expected to rebound and grow at 9.9% year-on-year in FY22 mainly due to the weak base of FY21.
As per moneycontrol, the agency in a report said, India Ratings FY21 GDP growth forecast of negative 11.8 percent will be the lowest GDP growth in the Indian history (GDP data is available from FY-1951) and sixth instance of economic contraction, others being in FY-1958, FY-1966, FY-1967, FY-1973 and FY-1980. The previous lowest was negative 5.2 percent in FY80.
The report forecasted an economic loss of Rs 18.44 lakh core in FY21 with retail inflation at 5.15% and wholesale inflation at a negative ₹1.7% in FY21.
On Monday, former RBI chief Raghuram Rajan in a post had said India’s -23.9% quarterly GDP was alarming. He said, The pandemic is still raging in India, so discretionary spending, specially on high contact services like restaurants, and associated employment, will stay low until the virus is contained. Government provided relief becomes all the more important.
October 01, 2022 | Nagpur News | नागपुर समाचार | Hindi News Bulletin | Nation Next
Nation Next Nagpur Bulletin brings to you a summary of major news events that took place in Nagpur on October 01, 2022.
Purva Kothari’s jewellery collection sparkles at ‘Intrea’ exhibition in Nagpur
Amid festivities, jewellery designer Purva Kothari conducted a two-day exhibition of diamond studded jewellery at Jawaharlal Darda Art Gallery in Nagpur on October 1 and 2.
Purva, in the past, has enticed celebrities including Director at Reliance Industries Nita Ambani, Varsha Patel wife of former minister Praful Patel, Founder at Videocon Venugopal Dhoot, Founder Chairman at GMR Group GM Rao and endorsements from Salman Khan, Kareena Kapoor Khan and Saina Nehwal, to name a few.
Also watch: All you need to know about diamonds, jewellery | Interview with designer Purva Darda Kothari