New Delhi. The country’s economy will register a 12 percent growth in the calendar year of 2021. Moody’s Analytics (Moody’s Analytics) Has estimated this. Moody’s said that the prospects of the near future of the Indian economy have become more favorable after the decline of 7.1 percent last year.
Moody’s Analytics said on Friday that the GDP growth for the quarter ended December 2020 was 0.4 percent. This performance is far better than expected. This led to a 7.5 percent drop in the economy in the previous quarter. Moody’s said that the demand for the country and abroad has improved due to easing of the restrictions. This has led to increased manufacturing output in recent months.
Moody’s said that we estimate that private consumption and non-resident investment will increase in the next few quarters, which will improve domestic demand in 2021. Moody’s estimates that the actual growth rate of GDP in the calendar year 2021 will be 12 percent. One reason for this is also the lower base effect of the previous year. Moody’s stated that monetary and fiscal policies would be conducive to growth.
We believe that there will be no additional cut in policy rates this year and it will remain at four percent. We estimate that the annual fiscal deficit will reach around seven percent of GDP from the budget for FY 2021-22. Moody’s said the main inflation would rise in a controlled manner in 2021. However, inflation in food items or fuel will affect the expenditures of families. With this, Moody’s stated that if the second wave of Covid-19 infection intensifies, it could pose a risk for improvement in 2021.
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