Troubled by Ads? Install Dainik Bhaskar app for news without ads
Mumbai3 minutes ago
- copy link
Many estimates are being issued regarding the improvement in the economy badly affected by the Corona pandemic. In this episode, Moody’s has also released its estimate. According to the rating agency, there is a possibility of positive growth in GDP in the next two financial years. According to the report, India’s GDP will grow by 9.3% in the financial year ending March 2022. GDP growth is estimated at 7.9% in its next financial year 2022-23.
Pandemic brought new difficulties
Moody’s hopes that the pace of economic activity may slow during the current quarter ie April-June, which will improve further. In addition, inflation is also likely to remain under control. This could lead to GDP growth of 9.3% in the financial year. However, it fell 7.3% in 2020-21. New economic difficulties have emerged from the epidemic. In this case, real GDP growth can average around 6%.
Reduced the earlier estimate given on GDP
SBI’s Economist has also released estimates on GDP growth on Tuesday. Under this, the growth rate is estimated to be 7.9% in 2021-22. Earlier, the GDP growth for the same financial year was estimated to be 10.4%.
Will keep an eye on vaccination
The country’s largest government bank believes that the infection rate increased rapidly due to the second wave of Corona, which has had a bad effect on the economy. Now further, the condition of vaccination in the country will affect the growth momentum.
‘W’ shape recovery in economy
Also, due to increase in commodity prices in the international market, the pace of GDP growth can also slow down. In such a situation, recovery of ‘W’ shape can be seen in the economy.
Corona worsens the situation in major cities
According to economists, the situation in Tier-II cities, which include Gujarat, Haryana, Jharkhand, Kerala, Rajasthan and Uttarakhand, has worsened. These states account for an increased share of the country’s total GDP.