The digitisation drive and pandemic-induced emergence of the gig economy have led to a faster formalisation of the economy, with the share of the informal sector shrinking to just 15-20 per cent in 2021 from 52.4 per cent in 2018, according to an SBI Research report. Share of the informal economy has fallen drastically to … Read more
The on Tuesday said there’s a need to jump start domestic consumption for India to achieve sustained growth even as export growth shows a definitive uptick. It said for the 18 year period ended FY21, the weighted contribution of exports was 28% and of consumption was 69% while for the seven-year period ended FY21, their … Read more
Mumbai: After a worse-than-expected 23.9 per cent decline in GDP in the June quarter, the top economist at State Bank of India expects a steeper decline in FY21 real GDP — again in the double digits. Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, now expects FY21 real GDP growth to decline … Read more