Lower prices, revival in economy and easing of Covid restrictions favour brisk sales
The revised forecast showed a 1% decline due to the ill effects of the second wave of the Covid-19 pandemic.
The agency mentioned in the report that it expects the aggregate fiscal deficit of Indian states to moderate to 4.1% of the gross domestic product.
The RBI in an article on the State of Economy said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock
Kant emphasised that India's aim to become a global leader can be achieved if the country gets into the sunrise areas of growth.
For 2022-23, IMF expects economic growth of 8.5%, larger than the 6.9% it had projected in April
GDP growth for the year (FY22) is expected to be 8.8-9% with GVA (gross value added) growth of 7.8%.
The increased use of digital money/pre-paid instruments has changed the composition of both reserve money as well as monetary base.
The downgrade was mainly on account of the impact of the Covid-19 pandemic
India will emerge as one of the largest global markets, both in terms of consumption size and market cap, says Gautam Adani