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 carrier will also start a direct flight between Amritsar and Patna from October 27, he said, adding that a 162-seater aircraft will operate on the route.
Shah, who had attended a Dussehra rally in Beed on October 8, is scheduled to address another series of election rallies in Maharashtra on October 11, according to party sources.
Mehsana, Gujarat: The local police rushed to the spot and sent the body for autopsy, which confirmed that the child had died of acid attack injuries, said deputy superintendent of police Manjita Vanzara.
Gaganyaan 2022: Rakesh Sharma, who is part of the National Advisory Council on Gaganyaan, said ISRO was working keeping in view the challenges before it.
The crime was revealed when neighbours, concerned about the family's absence at the puja pandal on Vijayadashami, went to their home and found the door bolted from inside.
A group of eminent Muslims on Thursday expressed the desire to hand over the land owned by the Muslims in Ayodhya to the Supreme Court which may, in turn, hand it over to the Central government.
