The government had on Wednesday issued a statement dismissing report of Moody's Analytics.
The opinion of a Junior Associate Economist employed with Moody's Analytics has been splashed all across implying it as the opinion of Moody's Analytics.
'The biggest point of contention is market access for US agricultural and dairy products.'
The Omicron variant of Covid-19 adds new uncertainties to the global economic outlook but much will depend on its speed of transmission, hospitalisation and death rates, and also the effectiveness of vaccines, Moody's Analytics said on Monday. In its commentary titled 'Much to Learn About Omicronast', Moody's Analytics said although the variant appears to spread "remarkably quickly", it will be at least two more weeks before more will be known about this new variant. "The Omicron variant of COVID-19 adds new measures of uncertainty to the outlook for the global economy, although it is too soon to adequately quantify that risk.
The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven economy, Barclays said on Thursday. If the 25 per cent tariff, announced by US President Donald Trump on Wednesday, is implemented from August 1, the effective average US import tariff on Indian goods will rise to 20.6 per cent in trade-weighted terms, as per Barclays estimates.
The note was authored by Faraz Syed, an associate economist with Moody's Analytics.
Gold, which was hovering around $1,321 an ounce in January 2019, has already breached $1,600 per ounce in the past few sessions to a seven-year high.
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