In its WEO, the IMF said that a prolonged pandemic due to a paucity of vaccines could cost $5.3 trillion over 5 years
The 300 bps cut comes on the back of a brutal second wave of COVID-19 from March - May and an expected slow recovery
According to RBI, GDP growth for financial year 2021 could be as low at 0.6%, under a severe stress scenario
The RBI Governor did not say that vaccines will be available for all in 2022; but was quoting an estimate of the IMF
India will grow 12.5% in FY22 after contracting by 8% in FY21, even though the pandemic is yet to subside, says IMF.
Quarterly, while the economy has regained its path of growth, the economy is still expected to contract a revised 8%.
In calendar year 2021, this rate will be 11%, while the Indian economy is estimated to have declined 8% in 2020.
SBI, CRISIL and Fitch are among the latest research houses to have revised India's FY21 GDP estimate upward.
The inflation targets, set in 2016 and being followed by the RBI, could be eased by the government to push growth.
The Indian economy has declined for a second straight quarter as it limps back to normalcy from the COVID-19 disruptions
The claims attribute its twisted narration of India's economic history to former RBI governor's book 'Advice And...
BOOM spoke to Dr. Ahsan H. Mansur, Chairman of BRAC Bank to understand Bangladesh's economic growth