This marks a contrast to the improvement in sentiment brought on by the rollout of the Covid-19 vaccine with a handful assessing the ongoing recovery to be fragile in the absence of investments.
The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday.
Right now, the RBI continues to display a marked preference for low interest rates. An unwanted fallout of this over the past couple of years has been on retired people dependent on FD.
Tar Kishore Prasad said this while presenting the Bihar Economic Survey Report 2020-21 during the first day of the Legislative Assembly session
India’s IT services sector is likely to achieve revenues of $194 billion in FY21, nearly 8 per cent of the country’s GDP, believes industry body Nasscom.
The agency now estimates the aggregate revenue deficit to come in at 3.2 per cent, higher than the earlier forecast of 2.8 per cent of GDP in FY21.
The Indian economy shrunk by a record 23.9 per cent in June quarter and saw a contraction of 7.5 per cent in second quarter.
Finance minister Rishi Sunak said the economy had suffered a "serious shock" from the Covid-19 global health crisis, despite the data showing second-half growth.
In April-June, the Indian economy contracted by a record 23.9 per cent, but dramatically improved to -7.5 per cent in the second quarter.
An official statement said that he called for lasting and transformative changes at the village level, through innovative, research-based technology specially adapted for rural areas.
Analysing the structural tax gap in India, the 15th Finance Commission pegged the shortfall in tax collections to be over 5% of GDP as against its potential.
For the current fiscal year, the government had earlier pegged the fiscal deficit of 3.5 per cent.
The survey highlighted how rating agencies have rated India much below expectation on several parameters including GDP growth, general government debt and inflation over a period of two decades.
Vitor Gaspar, Director of the IMF's Fiscal Affairs Department said that the government revenue declined everywhere, public debt jumped up to 98 per cent compared with 84 per cent before COVID-19.
He has been actively criticising the ruling government over the issues of economy and employment in the country.