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In FY 21 Indian economy to contract 9% expects S&P.

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4 years ago

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S&P Global Ratings said on September 14 that it was expecting India’s economy to shrink by 9% in the fiscal year ending March 31, 2021, larger than its previous estimate of a 5% contraction, as the country reels under the impact of the COVID-19 pandemic.

The ratings firm joins a host of major banks and ratings agencies, which have made deep cuts to their forecasts on India’s economy following a 23.9% contraction in April-June, as consumer spending, private investments and exports collapsed during one of the world’s strictest lock downs.

S&P’s latest revision comes three months after it made its projection on India’s real GDP for fiscal 2021.

“While India eased lock downs in June, we believe the pandemic will continue to restrain economic activity … As long as the virus spread remains uncontained, consumers will be cautious in going out and spending and firms will be under strain,” S&P said in a note.”The potential for further support monetary support is curbed by India’s inflation worries,” said Vishrut Rana, Asia-Pacific economist for S&P Global Ratings. The Reserve Bank of India has cut policy rates by 115 basis points so far this year.

Retail inflation data, due later in the day, is likely to have stayed above the Reserve Bank of India’s medium-term target range in August for the fifth straight month, according to a Reuters poll.

India’s high deficit also limits the scope for further fiscal stimulus, S&P added. It expects GDP growth of 6% in fiscal 2022 and 6.2% in fiscal 2023.

Moody’s on Friday said it was expecting India’s real GDP to contract by 11.5% in fiscal 2020.

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Apple is giving a huge discount on its gadgets: Details inside

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2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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