페이지 정보작성자 까마 (121.♡.84.12) 댓글 0건 조회 43회 작성일 20-11-20 16:30
[INDIAN ECONOMIC NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIAN economic news to share with you which is as mention under.
NEW DELHI: India will be worst-affected among the world’s major economies even after the
pandemic wanes, with output 12% below previrus levels through the middle of the decade,
according to Oxford Economics. Balance sheet stress that had been building before the
coronavirus outbreak will probably worsen, Priyanka Kishore, head of economics for South
Asia and South-East Asia, wrote in the report. She projects potential growth for India at 4.5%
over the next five years, lower than 6.5% before the virus.
“It’s likely that headwinds already hampering growth prior to 2020 -- such as stressed
corporate balance sheets, elevated non-performing assets of banks, the fallout in non-bank
financial companies, and labor market weakness -– will worsen,” she said. “The resulting
long-term scars, probably among the worst globally, would push India’s trend growth
substantially lower from pre-Covid levels.”
The contraction hasn’t deterred Prime Minister Narendra Modi from reiterating his target of
making India a $5 trillion economy by 2025 from $2.8 trillion. While the government has
announced a slew of measures to support growth, they have fallen well short of expectations
to boost demand, leaving the central bank to do much of the heavy-lifting. A paper published
by the Reserve Bank of India last week predicted Asia’s third-largest economy has entered a
historic technical recession. Official data is due November 27.
Read more at: https://timesofindia.indiatimes.com/business/india-business/indian-economy-to-struggle-with-effects-of-virus-through-2025-report/articleshow/79304753.cms
Have a nice day
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