MoUs worth Rs 18,900 Cr inked at J&K Real Estate Summit
A total of Rs 18,900 crore worth Memorandums of Understanding (MoU) and investment proposals were signed on Monday at the ongoing first ever real estate summit held in the Union Territory of Jammu & Kashmir.
ICRA revises India's FY22 real GDP forecast upwards to 9%
The agency credited the upward revision in the GDP to the brightening prospects for H2FY22 which is expected to benefit from the rapid ramp-up in Covid-19 vaccine administration, healthy advance estimates of kharif output and easing of cash management measures related to the Central government's spending.
India's Q1FY22 GDP growth zooms 20.1% YoY
In 2020, the pandemic had battered the country's GDP which had contracted by 24.4 per cent during Q1FY21. India's GDP at constant of 2011-12 prices has been estimated at Rs 32.38 lakh crore, as against Rs 26.95 lakh crore in Q1FY21. Last year, the pandemic-triggered national lockdown during Q1FY21 had a massive impact on the economy. It was only on June 1, 2020 that the partial unlock measures were implemented.
GDP growth in Q1 FY22 seen at 18.5%: SBI Ecowrap
The GDP estimate for the first quarter of FY22 is lower than the 21.4 per cent growth estimated by the Reserve Bank of India. The gross value added (GVA) is estimated at 15 per cent, as per the SBI report. "Based on SBI Nowcasting model, the forecasted GDP growth for Q1 FY22 would be around 18.5 per cent (with upward bias)," it said. A substantial recovery is visible in corporate GVA in Q1 FY22.
India's YoY FY22 GDP growth expected at 9.4%: Ind-Ra
According to Ind-Ra, the GDP trend is supported by ebbing of Covid 2.0, along with Kharif sowing, which has seen a significant pick-up with the revival of south-west monsoon and robust exports volume. "If India is able to vaccinate its entire adult population by December 31, 2021, the GDP growth is expected to come in at 9.6 per cent YoY in FY22, otherwise it may slip to 9.1 per cent," the ratings agency said.
India's FY22 GDP expected to grow by 8.7%: MOFSL
MOFSL now projects real GDP growth of 8.7 per cent in FY22, down from 11.1 per cent expected earlier. Nonetheless, it revised upwards its FY23 forecasts to 5.4 per cent now from an earlier 4 per cent. It also said that nominal GDP growth is now projected at 15.6 per cent for FY22 vis-a-vis 15.1 per cent earlier and 10 per cent for FY23.
CII pegs India's FY22 GDP growth at 9.5%
"Ultra-high frequency indicators strongly presage growth recovery following the second wave of the pandemic," said T.V. Narendran, CEO and Managing Director of Tata Steel, who took charge as President CII on May 31, 2021. "With recent uptick in mobility indicators, traffic congestion index and daily railway passenger movement, we believe that 9.5 per cent growth rate can be achieved this year."