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.
With Arvind Kejriwal looking all set for a third term as Delhi Chief Minister, congratulatory wishes are pouring in from leaders cutting across party lines.
DSP Harkrishan Singh said the crime took place on Sunday night at Butala village in Baba Bakala when Sukhmanpreet Singh returned home from a marriage function and was opening the main door of his house.
The case of the death of a four-month-old infant in Delhi's Shaheen Bagh has been termed as a violation of the "Right to Life" under the Constitution by twelve-year-old Zen Gunratan Sadavarte, who was recently awarded the National Bravery Award by President Ram Nath Kovind.
Nirbhaya's mother on Wednesday welcomed the verdict of the Delhi High Court which gave the rapists a week's time to exercise their legal remedies and hoped that a final death warrant is issued against them soon.
The YouTuber, identified as Gunja Kapoor, had entered the protest wearing a burqa. According to police, the protesters turned suspicious after the woman asked 'too many questions'.
