Thursday , October 21 2021

Indian economy may come down drastically, Reserve Bank of India (RBI) estimates

Mumbai: Coronavirus (Covid-19): Due to the Coronavirus Epidemic, consumer confidence has completely staggered and this may cause the economy to fall by 1.5 percent in the current financial year 2020-21. RBI (Reserve Bank) a survey released on Thursday by ( RBI Survey has put it an man in). The Consumer Confidence Survey of the Reserve Bank (RBI) said that in May 2020, the trust of consumers was completely broken.

GDP can
fall 1.5 percent in the current financial year. The current situation index (CSI) has come down to its historical low. Apart from this, the future prospects index of one year ahead has also fallen drastically and it has reached the area of ​​pessimism. According to another survey, the GDP growth rate will fall by 1.5 percent in the current financial year. However, the next financial year is expected to be far better. A survey by the Reserve Bank-sponsored ‘Professional Forecasters’ (SPF) has stated that real GDP will fall by 1.5 percent in 2020-21.

However, in the next financial year, it will return to the relief of growth and it will register a growth of 7.2 percent. The survey said that real private final consumption expenditure (PFCE) will fall by 0.5 percent in the current financial year. However, it is expected to increase by 6.9 percent in the next financial year. The survey said that real gross fixed capital generation (GFCF) will fall by 6.4 percent in 2020-21. However, it will register a growth of 5.6 percent in the next financial year 2021-22.

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