S&P Global Ratings has kept India’s sovereign rating unchanged at the lowest investment grade of ‘BBB-’ for the 14th year in a row, and said the government’s ability to execute additional economic reforms that spur investment and create jobs will be crucial for recovery from the current economic slowdown. S&P projected a 9.5% GDP growth in the current fiscal year that began in April and a 7.8% expansion in the following year. The GDP which shrank from $2.87 trillion in 2019-20 to $2.66 trillion in the following year is projected to expand to $3.96 trillion in 2024-25. Prime Minister Narendra Modi in 2019 envisioned making India a $5 trillion economy and a global economic powerhouse by 2024-25.
Asia
Pakistan almost off FATF grey list
Islamabad (TIP): removed from the Financial Action Task Force (FATF) list after the body said on June 17 that Islamabad had met all 34 items on two separate action plans. The FATF will now schedule […]
Business & Economics
US imposes new 5G license limits on some Huawei suppliers
The Biden administration has informed some suppliers to China’s Huawei Technologies Co. of tighter conditions on previously approved export licenses, prohibiting items for use in or with 5G devices, according to people familiar with the […]
Featured
Guest Comment : Taj and bigotry
Hinduism can reasonably be seen as a long religious tradition that stretched back 3,500 years to the Vedic period and has encompassed many ways of life over the centuries. But much about ancient Hindu traditions, […]
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