Most global financial and rating agencies have downgraded India’s FY24 GDP growth estimates sharply, some are even projecting a sub-5% growth for next fiscal.
In its December edition of the Global Economic Outlook, Fitch projected India's GDP to grow at 7 per cent in the current fiscal and slow to 6.2 per cent in 2023-24 and 6.9 per cent in 2024-25.
The survey is based on interviews with more than 40,600 public and private employers across 41 countries and territories to measure anticipated employment trends each quarter.
In 2019, Prime Minister Narendra Modi envisioned making India a USD 5 trillion economy and global powerhouse by 2024-25.
The seasonally adjusted S&P Global India Services PMI Business Activity Index jumped to 58.9 in May, up from 57.9 in April, amid better underlying demand and strong inflows of new work.
The Top contributing job roles in retail include sales & business development, customer service and data analyst/research analyst, says Monster India data.
He said in the past the strategy of micro-containment has worked well for India, adding that the industry body does not anticipate a scenario of re-imposition of major lockdowns.
On the other hand, the IMF said the immediate impact of the war on China will be less.
It said India is particularly vulnerable to high oil prices, given that it is a large importer of crude oil.
India is affected through three key channels -- higher prices for oil and other commodities; trade, and tighter financial conditions, influencing business/investment sentiment.
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.
The current share of gas in India's energy mix is 6.2 per cent, in comparison to the global average of 24 per cent, the Indian government aims to increase it to 15 per cent by 2030.
The report issued by the Bertelsmann Foundation comes amid a deepening trade dispute between China and the United States which has engulfed other major trading partners.
Delivering a public lecture in Melbourne, Chidambaram said "the current environment, unlike 1991 or 2004, is not very supportive to implement major reforms."
The growth rate of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- was 7 per cent in June last year, official data shows