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.
Supreme Court on Tuesday set aside conviction of 15 men held guilty of rioting and arson in a connection with anti-Sikh riots in East Delhi’s Trilokpuri in 1984.
The woman, who appeared once before the committee, comprising Justices SA Bobde, Indu Malhotra and Indira Banerjee, said she felt "quite intimidated and nervous" in the presence of the three judges of the Supreme Court.
Bollywood actor Akshay Kumar’s interview with Prime Minister Narendra Modi became a motherlode of memes and comedy, which people on the internet mined assiduously for laughs.
Sunny Deol reminded voters here of the patriotic character he played in ‘Gadar' and referred to his “dhai kilo ka haath” from another movie as the BJP candidate Monday filed his nomination papers
Actor and BJP candidate Sunny Deol on Monday paid obeisance at the Golden Temple in Amritsar ahead of filling his nomination papers from the Gurdaspur Lok Sabha seat.
