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.
One of the four death-row convicts in the Nirbhaya gang-rape and murder case, Vinay Sharma, injured himself by banging his head against a wall of his cell in Tihar Jail, officials said on Thursday.
The Supreme Court-appointed interlocutors met Shaheen Bagh protesters on Thursday in their second visit to the site where people have been on a sit-in since the last two months against the amended citizenship Act.
AIMIM leader Waris Pathan has hit out at those who have objected to Muslims protesting against the government and said members of the Muslim community may be as less as 15 crore but they can give a fitting reply to the majority community if needed.
You have encroached upon a plot of land belonging to the AMC (Ahmedabad Municipal Corporation). Evict the plot in another seven days with your household chattels, otherwise, a departmental action will be taken to evict the land.
TV actor Anita Singh’s charred body was found in Kaladhungi area of Nainital - about 30 km from the district headquarters, Nainital district police chief Sunil Kumar Meena said.
