Listen to the news
The Indian economy will be severely affected in the current financial year due to the Corona epidemic and lockdown, but the growth rate will be more than 10 percent next year. Most of the rating agencies have claimed that the Indian economy will see a rapid recovery in 2021-22 and there is a sense of relief on the employment front as well.
Fitch Ratings: 11 percent growth rate
Fitch, the global rating agency, has said that the Indian economy may grow at 11 per cent in 2021-22, which will grow at an average of 6 per cent in the following years. The agency has doubled its downfall estimate for the current financial year (2020-21). Earlier it had projected a 5 per cent decline in GDP, which has been increased to 10.5 per cent after looking at the first quarter figures. The growth rate reached a record (-23.9 per cent) in April-June. Fitch has stated that the growth rate will be (-) 9.6 percent in the second quarter and (-) 4.8 percent in the third quarter, but will return sharply from the fourth quarter and grow to 4 percent.
India ratings: 9.9 percent rise claimed
Domestic rating agency India Ratings has also predicted that India will achieve 9.9 percent growth in 2021-22. Agency Chief Economist Sunil Kumar Sinha said that now we look forward to next year, when India's GDP will return to the path of boom. However, 9.9 per cent growth is more likely to come in the third or fourth quarter than in the first or second quarter. In the current financial year, GDP will be below 11.8 percent, which was earlier estimated to be below 5.3 percent. This will be the sixth biggest decline in Indian history since 1951, causing a loss of 18.44 lakh crore to the economy. The fiscal deficit will also double from the budget estimate to 15.17 lakh crore.
Morgan Stanley: 9.5% Estimate
Global financial services firm Morgan Stanley has said that the Indian economy will be able to achieve a growth rate of 9.5 per cent next financial year. Due to the Kovid-19 pandemic, the economic situation in 2020-21 will be poor and GDP may fall by 5%, but V-shape improvement will be seen soon. The firm had previously forecast a 4.9 percent decline.
Goldman Sox: 15.7 percent growth rate
According to brokerage firm Goldman Sox, in 2021-22, India's GDP will grow again at a faster pace and achieve a growth rate of 15.7 percent. The lockdown has offset up to 70 per cent of the June production decline and the real GDP growth is expected to be 27.1 per cent in the first quarter (April-June 2021) of the next fiscal, compared to (-) 23.9 in the first quarter this year. Was percent. The brokerage firm has projected a growth rate of minus 14.8 per cent for the current fiscal after a major decline in the first quarter. Earlier this estimate was 11.8 percent. According to Goldman Sox, the growth rate could be (-) 13.7 in the second quarter and (-) 9.8 percent in the third quarter.
4.4 percent decrease in global economy, China will continue to boom
Fitch has said that the global economy is expected to decline by 4.4 percent this year due to the impact of the epidemic. The estimate was 4.6 per cent in June, but has been cut down due to the improvements coming after the second quarter. According to the rating agency, the US GDP will decline 4.6 percent, down from the former's 5.6 percent. During this period, the growth rate of emerging economies other than China will be (-) 5.7 percent. China is expected to achieve a growth rate of 2.7 percent this year, which was earlier estimated to be 1.2 percent.
No relief to Voda-Idea from 10-year period on AGR: Fitch
new Delhi. Rating agency Fitch says Vodafone Idea will not help much if the Supreme Court gets 10 years to pay the outstanding dues of adjusted gross revenue (AGR) to telecom companies.
Fitch said, Jio and Airtel's market share will increase due to increasing number of customers. Mobile rates are expected to increase by 20 percent in the next 12 months. Voda Idea plans to raise 25 thousand crores in the form of equity and debt, but this is unlikely to return the company to a competitive position.
40 thousand crore telemedicine market in the country by 2025
new Delhi. The Indian medical industry is on the path of change after the epidemic. The traditional method of medical consultation is changing rapidly, leading to a telemedicine market of 40 thousand crores by 2025.
A survey by Ernst & Young-IPA stated that in five years, 15-20 of the healthcare system would be converted to telemedicine. Where doctor's advice, health monitoring etc. will be done in a virtual way. The mode of buying and selling of drugs will also change, which will boost the market of e-pharmacy. The average growth rate of telemedicine during this period will be 31 percent.
Report of the functioning of states on startup on 11
new Delhi. The report of the functioning of the state governments on creating a better environment under the Central Government's plan to promote the startup will come on September 11. The Commerce Ministry report will reveal which state has done a better job of promoting startups.
The Department of Industry and Internal Promotion has started preparing the ranking of States' startup ecosystem from 2018. The ministry believes that the ranking to be released this year will be based on the parameters of startup-friendly policy making, financial assistance or subsidy, research centers and starting capital. Gujarat's performance in the first list of 2018 was the best.