Indian economy on track for strong growth after second Covid wave, S&P says ...News

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Indian economy on track for strong growth after second Covid wave, S&P says
source : Russia Today ( News ) () 15
International ratings agency S&P has said India’s economy is “picking up steam” after stalling during the second wave of the coronavirus pandemic in May and June. According to the agency, growth will improve over the July-September quarter on the back of such indicators as goods and service tax (GST) receipts and motor vehicle sales.  The economy is expected to post 9.5% growth in the current fiscal year, followed by 7% expansion in the next year, S&P said. “Given India’s weak fiscal settings and high stock of debt around 90% of GDP, the nominal GDP growth is going to be very important to prevent any further erosion of fiscal settings

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