February 26, 2021

Indian & World Live Breaking News Coverage And Updates

Indian & World Live Breaking News Coverage And Updates

‘India likely in fastest-growing emerging-market economies’

Share This :


S&P Global Ratings on Wednesday said India will be one of the fastest growing emerging-market economies with a 10% growth in the next fiscal, and future sovereign rating action would hinge on lowering fiscal deficit and sustaining debt burden.

S&P director, sovereign & international public finance ratings, Andrew Wood, said the forecast for India in 2021 is on stronger side and shows that a lot of economic activity, which was frozen last year, is coming back on line to normalisation, thereby brightening the growth prospects.

Bounce back

“India will be one of the fastest-growing economy in the EM (emerging market) space. India’s contraction this year was steep and may be deeper than global average, but a bounce back of 10% that we are expecting next fiscal year will be putting India amongst the fastest growers in 2021 and more importantly, we see Indian economy growing at 6% over medium term, may be slightly higher, and that compares very well to EMs all around the world,” Mr. Wood said in a webinar.

S&P said India’s economy has stabilised over recent months, with progressively better manufacturing, services, labour-market and revenue data. The hard part will be converting the trends into a sustained recovery over the next few years.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.



Source link

Share This :