Economy Current Affairs

India’s unemployment rate falls to 7.6% in March from 8.1% in Feb 2022: CMIE Report

India’s unemployment rate drops to 7.6% in March from 8.1% in Feb 2022: The overall unemployment rate in India has dropped from 8.10% (February 2022) to 7.6% (March 2022), as per the data from the Centre for Monitoring Indian Economy (CMIE). The report also stated that though the overall unemployment rate in the country is falling, […]

India’s unemployment rate falls to 7.6% in March from 8.1% in Feb 2022: CMIE Report Read More »

India Ratings lowers India’s FY23 GDP growth forecast to 7-7.2%

India Ratings on Wednesday lowered India’s economic growth forecast for 2022-23 to 7.0-7.2%. Earlier in January the ratings agency Ind-Ra had forecast this rate at 7.6 percent due to the impact of high crude oil and commodity prices on domestic consumption amid the Russia-Ukraine conflict.

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ICRA cuts India’s GDP growth forecast in FY23 to 7.2%

Ratings agency ICRA has lowered India’s FY23 GDP growth forecast to 7.2 per cent from an earlier projection of 8 per cent. The ICRA Ltd. has projected the GDP growth forecast for 2021-22 (FY22) at 8.5%, which is modestly lower than the National Statistical Office’s (NSO’s) second advance estimate of 8.9 per cent.

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OECD projects India’s GDP for FY23 at 8.1% and for FY24 at 5.5%

The Organization for Economic Cooperation and Development (OECD) has projected the India’s real gross domestic product (GDP) as below: For 2022-23 (FY23)= 8.1% For 2023-24 (FY24)= 5.5% The GDP was released in Economic Outlook for Southeast Asia, China and India of OECD

OECD projects India’s GDP for FY23 at 8.1% and for FY24 at 5.5% Read More »

Fitch Ratings lowers India’s FY23 growth forecast to 8.5%

Fitch Ratings on Tuesday downgraded its growth forecast for India by 180 basis points to 8.5 per cent for 2022-23, citing sharply higher energy prices. The extent of the downward revision in growth forecast for India is second only to Germany among major economies. Earlier this rate was estimated at 10.3%. The Rating agency Fitch has revised upwards the GDP

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Moody’s lowers India’s GDP forecast for CY22 to 9.1% amid Russia-Ukraine conflict

Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 % in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine conflict on the global economy. Earlier in February 2022, Moody’s estimated India’s GDP in CY2022 to 9.5 %. Moody’s has projected India’s GDP

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EPFO lowers the interest rate on PF deposits to 8.1% for 2021-22

Employees Provident Fund Organisation (EPFO) has slashed the interest rate on provident fund deposits by 0.4% to 8.10% for 2021-22. Interest rate on PF deposit was 8.5% in 2020-21 and 2019-20. This decision was taken at the 230th meeting of the Central Board of Trustees, EPF under the Chairmanship of Bhupendra Yadav (Union Minister for Labour & Employment) EPFO: Statutory body responsible for

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NSO projects GDP growth for India in 2021-22 at 8.9% and in 2020-21 at 6.6%

National Statistical Office (NSO) has released the second advance estimates of national accounts. The GDP growth rate projection as per NSO for 2021-22 (FY22) and 2020-21 (FY21) is given below: The NSO has projected 8.9% growth in 2021-22, earlier it was 9.2% in first advance estimates. In its first advance estimates that was released in January, the NSO had projected

NSO projects GDP growth for India in 2021-22 at 8.9% and in 2020-21 at 6.6% Read More »

Brickworks Ratings lowers India’s GDP to 8.3% in FY22

The impact of the third wave of Covid on economic momentum may lower growth in the second half of the current fiscal (H2FY22), Brickwork ratings has said in a release. According to the ratings agency, with the upward revisions of the FY21 GDP growth by Mospi, they revise their GDP growth projections for FY22 to

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Moody’s projects India’s growth estimates to 9.5% in CY2022

Rating agency Moody’s has revised the economic growth estimates of India for Calendar Year (CY) 2022 and CY2023, in its Global Macro Outlook 2022-23, as follows: CY2022- 9.5 percent (Earlier it was 7 percent) CY2023 – 5.5 percent

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