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.
Pointing out that most people in Punjab came from Pakistan, Amarinder Singh asked if the Centre expected them to go to Pakistan to look for proof of birth.
A 25-year-old model from Assam who had come to Kanpur to perform at a function, was allegedly raped by former director of a prominent club in the presence of his five aides here, the police said on Tuesday. Four of the accused have been arrested, while the main accused is still on the run.
Ridiculing the Akali chief for his "atrocious lies" that reflected his frustration, Punjab Chief Minister Amarinder Singh on Tuesday said Sukhbir Badal had clearly lost all sense of proportion in his desperation to get back into the political limelight.
Even as the D-Day approaches, the four death row convicts in the Nirbhaya gang rape and murder case through their lawyers are clutching at all possibilities to apparently delay or stay the execution.
A 20-year-old man, resident of Indiranagar, was shifted to the isolation ward of the King George’s Medical University (KGMU), on Saturday morning after the lab test confirmed the virus.
A woman has been booked for allegedly selling her seven-day-old daughter for Rs 10,000 to a neighbour at Kathghar area of Moradabad district in Uttar Pradesh.
