fbpx
  • Hindi
  • Heritage Edge
  • Sports Edge
  • Wildlife Edge
SHARP. BITTER. NEUTRAL.
No Result
View All Result
  • Login
The Edge Media
Wednesday, September 27, 2023
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
No Result
View All Result
The Edge Media
No Result
View All Result
Home Business Edge

World Bank sees FY21 India growth at 1.5-2.8 per cent – slowest economic reform in last three decades

The Edge Media by The Edge Media
3 years ago
in Business Edge, Main Story, Stock Exchange
Reading Time: 2 mins read
0
Share on FacebookShare on TwitterShare on LinkedInShare via TelegramSend To WhatsApp
IC-ET

The World Bank stated that, the covid-19 outbreak has gravely disrupted the Indian economy, magnifying pre-existing risks to its outlook.

India is expected to record its worst growth performance since the 1991 liberalization, in this fiscal year as the coronavirus pandemic has severely disrupted the economy, the World Bank said on Sunday.

India’s economy is expected to grow 1.5 per cent to 2.8 per cent in the 2020-21 fiscal which started on April 1, the World Bank said in its South Asia Economic Focus report.

India’s growth is estimated at 4.8 per cent to 5 per cent in the 2019-20 fiscal that ended on March 31. The coronavirus outbreak came at a time when India’s economy was already slowing due to persistent financial sector weaknesses, the report said.

To contain it the pandemic, the government of India imposed a lockdown, closing factories and businesses, suspending flights, stopping trains and limiting mobility of goods and people.

“The resulting domestic supply and demand disruptions (on the back of weak external demand) are expected to result in a sharp growth deceleration in FY21 (April 2020 to March 2021),” it said, adding that the services sector will be specifically impacted.

A revival in domestic investment is likely to get delayed given increased risk aversion on a global scale, and renewed concerns about financial sector resilience.

“Growth is expected to rebound to 5% in Fiscal 2022 (2021-22) as the impact of COVID-19 dissipates, and fiscal and monetary policy support pays off with a lag,” the World Bank said.

The World Bank joins a group of international agencies that have made a similar estimation of growth recent days and concerns about the COVID-19 outbreak.

Previous Post

TikTok user who poked fun at wearing masks tests +ve of COVID – 19

Next Post

Earthquake tremors felt in Delhi-NCR.

Related News

Man Arrested From Gorakhpur for Threatening to Kill PM Modi and CM Adityanath

Man Arrested From Gorakhpur for Threatening to Kill PM Modi and CM Adityanath

by The Edge Media
July 11, 2023
0

Early in the morning of Monday, June 15th, an alarming scene unfolded in Gorakhpur, India. A man, identified as Shabir...

BJP Disrupts Bihar Assembly Proceedings Over Tejashwi Yadav’s Resignation

BJP Disrupts Bihar Assembly Proceedings Over Tejashwi Yadav’s Resignation

by The Edge Media
July 11, 2023
0

The Bihar Assembly was stunned into silence on Tuesday as BJP legislators disrupted proceedings and demanded the resignation of Deputy...

Delhi CM To Establish Doorstep Ration Delivery Without Center’s Approval

Delhi CM Kejriwal Links GST to ED, Warns Traders of Arrests for Tax Avoidance

by The Edge Media
July 11, 2023
0

It was a shocking announcement when Delhi Chief Minister Arvind Kejriwal recently announced that any traders caught avoiding GST payments...

CJI D.Y. Chandrachud Leads Supreme Court Bench to Consider Constitutional Challenges to Removal of Article 370

CJI D.Y. Chandrachud Leads Supreme Court Bench to Consider Constitutional Challenges to Removal of Article 370

by The Edge Media
July 11, 2023
0

On August 28th 2019, the Supreme Court of India began to consider the constitutional validity of the recent repeal of...

Relief Efforts Underway as Nainital’s Ramgarh Battles Heavy Rainfall

Relief Efforts Underway as Nainital’s Ramgarh Battles Heavy Rainfall

by The Edge Media
July 11, 2023
0

As the monsoon season brings heavy rainfall to the town of Ramgarh in the state of Uttarakhand, India, relief efforts...

Fatal Helicopter Crash Near Mount Everest in Nepal: 6 Onboard Dead

Fatal Helicopter Crash Near Mount Everest in Nepal: 6 Onboard Dead

by The Edge Media
July 11, 2023
0

On Monday, April 27th, 2020, a tragic helicopter crash near Mount Everest in Nepal left six people dead. The group...

Discussion about this post

Recommended

Election Commission verdict: Voting time will be extended in upcoming assembly elections

3 years ago
Congress Accuses BJP For Tempering EVMs

Congress Accuses BJP For Tempering EVMs

2 years ago

Popular News

    • Hindi
    • Heritage Edge
    • Sports Edge
    • Wildlife Edge
    SHARP. BITTER. NEUTRAL.

    © 2021 The Edge Media All Rights Reserved.

    No Result
    View All Result
    • Home
    • National Edge
    • State Edge
    • Political Edge
    • World Edge
    • Entertainment Edge
    • Business Edge
    • Sports Edge

    © 2021 The Edge Media All Rights Reserved.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In