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Oxford economics revised India’s economic growth production, calendar year 2021
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The global forecasting firm Oxford economics has revised India’s economic growth projection for the calendar year 2021 to 10.2 %.
The previous estimate is 8.8 %.
The reason for upward revision is to receding covid -19 risks .
Also to shift in the monetory policy outlook.
The economic servey has projected an 11% growth for 2021- 22 aided by a v – shaped recovery and 7.7 % contraction for the current year.
It also projected a lower 6.8 % growth in 2022-23.
Oxford economics noted that if inflation risks materialise, the RBI may have to renege on its growth commitment, which is a downside risk to it’s growth forecast.
The RBI has projected a GDP growth rate of 10.5 % for the financial year beginning April 1 , on the back of recovery of economic activities.
- Oxford economics is headquarters in Oxford, United Kingdom.
- It is established in 1981.
- It has 6 office locations across 5 countries.
- It provided a global forecasts and analysis to predict and manage economic risks.
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