Saturday , November 22, 2025 |   07:28:33 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
GDP growth presents mixed canvas across OECD countries in Q3 (See 'TII Brief') I-T - Inland haulage charges from operation of ships is not taxable as business income: ITAT (See Breaking News) I-T - Every payment from source outside India or through NRE Account of assessee, cannot be treated as unexplained investment: ITAT (See Breaking News) I-T - GAAR provisions will not apply to transactions undertaken on stock exchange, for set-off of capital losses against capital gain, absent any evidence regarding avoidance of tax liability: HC (See Breaking News) I-T - Expenses incurred wholly and exclusively by Indian branch cannot be allocated to overseas branch and HO: ITAT (See Breaking News) I-T - If licence conferring no proprietary interest on licencee, does not entail parting with copyright, and core transaction authorises end-user to make use of licenced software, then payment received for such software cannot be termed as 'royalty': ITAT (See Breaking News) TP - Bright line test is not appropriate method for benchmarking AMP transactions: ITAT (See Breaking News) I-T - Downward adjustment under MAP resolution found to be based on an ad-hoc estimate arrived at pursuant to mutual settlement, didn't have any cogent basis: ITAT (See Breaking News) I-T - Delay in filing ITR has to be condoned if assessee is otherwise entitled to refund: HC (See Breaking News) I-T - If aircraft were never placed at disposal of foreign aircraft leasing company in India to conduct its business, such absence of lessor's operational infrastructure in India reinforces absence of fixed place PE: ITAT (See Breaking News) DTAA - Income earned by foreign company from support services rendered to its parent company, is not fees for technical services, as no technical knowledge is made available: ITAT (See Breaking News) TP - If entire activity of project office/PE is wholly dependent on know-how/drawing documentation of head office (HO), then such HO and its Indian PE are associated in terms of Section 92A(2)(g): ITAT (See Breaking News) TP - Adjustment on account of guarantee given to AE are amenable to adjustment under transfer pricing: ITAT (See Breaking News) TP - TPO cannot resort to ad-hoc benchmarking approach, which is contrary to mandate of section 92C: ITAT (See Breaking News) I-T - Payment received towards IT support services does not constitute Fee for Technical Services: ITAT (See Breaking News) TP - Adjustment on account of interest on trade receivables shall be computed after considering interest free trade payables due to AEs with duration of outstanding receivable and payables: ITAT (See Breaking News)
 
TII SEARCH
 
 
   
Home >> News Brief
 

India's growth to rebound 11% in FY22, says ADB
By TII News Service
Apr 29, 2021 , Manila

    

THE Asian Development Bank (ADB) projects India's Gross Domestic Product (GDP) will rebound strongly by 11 per cent in 2021-22 due to continued economic recovery boosted by increased public investment, vaccine rollout, and a surge in domestic demand. However, it cautioned that the surge in COVID-19 cases and irregular vaccine deployment could hurt the recovery.

In its flagship Asian Development Outlook (ADO) 2021, ADB forecasts India's economic growth to moderate to 7 per cent in FY22 as base effects disappear. The economy is expected to have contracted by 8 per cent in FY21 in line with the government's second advance estimate.

India's economy faced its worst contraction in FY21 due to the COVID-19 shock. With large government stimulus and the ongoing vaccination drive, economic activity will continue its recovery started from the third quarter of FY21 and rebound strongly in the current fiscal year with an uptick in domestic demand, especially in urban services, said the ADB.

"The government's boost to public investment through its infrastructure push, incentives for manufacturing, and continued support to boost rural incomes will support India's accelerated recovery," said ADB Country Director for India Mr Takeo Konishi.

An uncertain pandemic trajectory with a prolonged second wave despite the vaccination push could affect India's economic normalisation, it warns.

The forecast, however, expects the economic impact of the second wave to be relatively muted compared to the first wave in line with global experience. Other downside risks include further tightening of global financial conditions on fast recovery in developed countries, which would apply pressure on India's market interest rates.

Inflation, after rising to 6.2 per cent in FY21, is projected to moderate to 5.2 per cent in FY22 as good harvests and supply chain recovery contain domestic food inflation. It is further expected to ease to 4.8 per cent in 2022-23 on moderating domestic demand as the economy returns to normal.

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2025 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.