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New Covid wave seen likely pushing growth below 10 pc


India’s new Covid wave will inevitably hit recovery and could push growth below 10 per cent, and the longer it takes to regain control, the greater the permanent damage, especially as policy space is limited, according to Shaun Roache, Chief Economist, Asia-Pacific at S&P. The agency currently has a BBB rating on India with a stable outlook, the lowest investment grade, and expects the economy to grow 11 per cent in the year that started April 1. The shock of the first quarter is likely to carry on through the rest of the year and the impact on the GDP could be around one to three percentage points, Roche added, as per a report. 

 

Source: Exim News Service: Singapore, May 16

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