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.
The affidavit shows Ms Malini presently owns a total wealth including bungalows, jewelleries, cash, jewelleries, shares and term deposits worth over Rs. 101 crore, while five years ago before the 2014 general elections, her total assets had been valued at nearly Rs. 66 crore.
Photocopies of orders pertaining to deputation of central forces in Jammu and Kashmir post Pulwama terror attack, besides pamphlets and posters of terror group ISIS were found from them when they were arrested on Monday evening.
Asif Karadia, whose parents are of Indian origin, approached the high court in December 2016 when his previous long-term visa (LTV) expired and the authorities refused to extend the visa unless he produced a Pakistani passport.
