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.
A part of the rights issue was funded by RHC and the Singh brothers, who Radha Soami sect head admits to financial deals with Ranbaxy brothers spent a total of Rs 440 crore on the transaction.
"The subject review petitions as well as the writ petitions may, accordingly, remain pending until determination of the questions indicated by a larger bench as may be constituted by the Chief Justice of India", said a majority bench headed by Chief Justice Ranjan Gogoi.
We have decided to seek an appointment with Congress Interim President Sonia Gandhi and we will apprise her of our feelings. We are told that the party has decided to concentrate only on those below the age of 50.
Former Pakistani military dictator Pervez Musharraf has admitted that the Pakistan state not only gave a "hero's welcome" to terrorists like Lashkar-e-Taiba founder Hafiz Saeed but also trained and supported them to fight against India in Jammu and Kashmir.
The Enforcement Directorate (ED) on Thursday said that it has arrested former Relkigare Health Enterprises Ltd promoters Malvinder Singh and Sunil Godhwani in connection with its probe into a money laundering case.
While an air pollution emergency is playing out in Delhi NCR, stubble burning in Punjab is likely to abate by the end of the month as wheat sowing has already covered 60 per cent of the area.
