Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / India/  India growth to revive after containment of covid-19: Niti vice-chairman
BackBack

India growth to revive after containment of covid-19: Niti vice-chairman

Rajiv Kumar comments have come amid Moody's downgrading the country's rating and S&P retaining it at the lowest investment grade
  • S&P Global Ratings on Monday said Indian economy will shrink by 5% in the current fiscal
  • Rajiv Kumar, vice-chairman NITI Aayog (Ramesh Pathania/Mint)Premium
    Rajiv Kumar, vice-chairman NITI Aayog (Ramesh Pathania/Mint)

    NEW DELHI : India's economy will recover after the containment of the covid-19 pandemic and the country will maintain its sound net external position, Niti Aayog vice-chairman Rajiv Kumar said on Thursday.

    Kumar further said that India's strong democratic institutions promote policy stability and the ongoing economic reforms, if executed well, should keep the country's growth rate ahead of peers.

    His comments have come amid Moody's downgrading the country's rating and S&P retaining it at the lowest investment grade.

    S&P Global Ratings on Monday said Indian economy will shrink by 5 per cent in the current fiscal, as the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support.    

    Last week ,Moody's Investors Service had said India's economy is expected to contract for the first time in more than four decades as economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 11 Jun 2020, 08:40 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App