World Bank cuts India's growth forecast for FY22 to 8.3%
Darpan News Desk IANS, 08 Jun, 2021 04:20 PM
New Delhi, June 8 (IANS) The World Bank has lowered the growth projection for India for the financial year 2021-22 to 8.3 per cent. Its previous growth estimate for the fiscal was 10.1 per cent.
"In South Asia, India's recovery is being hampered by the largest outbreak of any country since the beginning of the pandemic," said the World Bank's global outlook released on Tuesday.
The global economy, on the other hand is set to expand 5.6 per cent in 2021, its strongest post-recession pace in 80 years.
"This recovery is uneven and largely reflects sharp rebounds in some major economies -most notably the United States, owing to substantial fiscal support, amid highly unequal vaccine access," it said.
In many emerging market and developing economies (EMDEs), elevated Covid-19 caseloads, obstacles to vaccination, and a partial withdrawal of macroeconomic support are offsetting some of the benefits of strengthening external demand and elevated commodity prices, the report noted.
Globally, it also noted that following a 3.5 per cent contraction caused by the Covid-19 pandemic in 2020, economic activity has gained significant momentum. However, it remains well below pre-pandemic projections.
Moreover, the recovery is uneven, passing over many poorer countries, and there is considerable uncertainty about its durability, it added.
In a video, the constable, while writing a fine receipt, said he has joined the police force to "rob the government, especially (PM) Modi", and followed it up with abusive words.
According to tribal folklore, it is said that killing a dog and throwing it at someone's residence is akin to a warning or death threat; in this case, BJP parliamentarian Tapir Gao is believed to be the target
Sixty-year-old Sitharaman, a Rajya Sabha member, is the second woman to take charge of the crucial ministry after Indira Gandhi who, as the Prime Minister, also held the portfolio in the seventies.
S Jaishankar's appointment as foreign secretary in January 2015 had evoked a sharp reaction from various quarters over the timing of the government''s decision to remove Sujatha Singh.
