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Kumar observed that as a result of fiscal response to COVID-19, global debt jumped to a new high of USD 226 trillion in 2020, with annual increase of USD 27 trillion (largest annual increase on record). Cricket RQ Password Update Required If you are an Authorized Retailer, please follow the steps below: Click the 'Logout' button below to close any active Global ID sessions. Vacancies in Australia’s hospitality industry are likely to surpass 100,000 within two weeks as the worker shortage.
The US and China are expected to grow 6 per cent and 8 per cent, respectively, in 2021 with downward revision of 1.0 and 0.1 percentage points vis-?-vis July forecast. Also Read: Sensex slumps 433 points Nifty drops below 17,900 Hospitality worker shortages to exceed 100,000. While trade growth is rebounding strongly, with much stronger imports than exports, reflecting India's robust economic recovery, Kumar said higher than expected revenue trends driven by both direct and indirect taxes have provided the much-needed fiscal space for required policy action.Ĭiting latest projections by the International Monetary Fund, Kumar said the global economy is on the recovery path with projected growth of 5.9 per cent in 2021.Īccording to the IMF, the real GDP of advanced economies is projected to expand by 5.2 per cent whereas emerging market and developing economies are expected to grow by 6.4 per cent. Get Live Cricket Scores, Scorecard, Commentary and Match Info of All International and Domestic Matches, Serieswise Stats, Records, Analysis and Facts, Trending News and Tweets, Recent ICC Player and Team Rankings. The eminent economist said Index of Industrial Production (IIP) witnessed growth of 11.9 per cent year-on-year in August 2021 with core sector output growth of 11.6 per cent year-on-year reflecting strong activity in industrial and infrastructure sectors. also show continued pickup in economic activity," he said.
"Other key high frequency indicators - power consumption, railway freight, GST collections, e-way bills, etc.
Kumar pointed out that India sustained its pace of economic recovery in September 2021 as reflected by acceleration in manufacturing PMI at 53.7 (52.3 in August 2021) offset by a modest deceleration in services PMI at 55.2 (56.7 in August 2021). The Reserve Bank of India (RBI) has lowered the growth projection for the current financial year to 9.5 per cent from 10.5 per cent estimated earlier while the IMF has projected a growth of 9.5 per cent in 2021 and 8.5 per cent in the next year. 1 year, 97 days left has server used 75.2.25.247 (United States) ping response time Hosted in, Inc Register Domain Names at, LLC This domain has been created 9 years, 260 days ago, remaining 1 year, 105 days DA: 14 PA: 32 MOZ Rank: 60.