{"id":27417,"date":"2024-11-26T20:11:58","date_gmt":"2024-11-26T14:41:58","guid":{"rendered":"https:\/\/edunovations.com\/currentaffairs\/?p=27417"},"modified":"2024-11-27T20:12:16","modified_gmt":"2024-11-27T14:42:16","slug":"sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei","status":"publish","type":"post","link":"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/","title":{"rendered":"S&amp;P Global Revises India\u2019s GDP and Inflation Projections for 2024"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#S_P_Global_Revises_Indias_GDP_and_Inflation_Projections\" >S&amp;P Global Revises India\u2019s GDP and Inflation Projections<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#Why_This_News_Is_Important\" >Why This News Is Important<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#Historical_Context_Background_Information_on_Indias_Economic_Growth\" >Historical Context: Background Information on India\u2019s Economic Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#Key_Takeaways_from_%E2%80%9CS_P_Global_Revises_Indias_GDP_and_Inflation_Projections%E2%80%9D\" >Key Takeaways from &#8220;S&amp;P Global Revises India\u2019s GDP and Inflation Projections&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#Important_FAQs_for_Students_from_this_News\" >Important FAQs for Students from this News<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#1_What_is_the_latest_revision_in_Indias_GDP_forecast_by_S_P_Global\" >1. What is the latest revision in India\u2019s GDP forecast by S&amp;P Global?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#2_What_factors_influenced_S_P_Globals_revision_of_Indias_GDP_and_inflation_projections\" >2. What factors influenced S&amp;P Global\u2019s revision of India\u2019s GDP and inflation projections?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#3_What_is_the_current_inflation_projection_for_India_by_S_P_Global\" >3. What is the current inflation projection for India by S&amp;P Global?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#4_How_might_the_revision_in_GDP_and_inflation_projections_affect_the_Indian_economy\" >4. How might the revision in GDP and inflation projections affect the Indian economy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#5_How_does_Indias_revised_GDP_growth_compare_to_other_global_economies\" >5. How does India\u2019s revised GDP growth compare to other global economies?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/sp-globalsp-global-has-revised-indias-gdp-growth-and-inflation-projections-for-2024-forecasting-5-5-growth-and-5-5-inflation-this-article-analyzes-the-reasons-behind-these-changes-and-thei\/#Some_Important_Current_Affairs_Links\" >Some Important Current Affairs Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"S_P_Global_Revises_Indias_GDP_and_Inflation_Projections\"><\/span><strong>S&amp;P Global Revises India\u2019s GDP and Inflation Projections<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Introduction: A Shift in India\u2019s Economic Outlook<\/strong><\/p>\n\n\n\n<p>S&amp;P Global Ratings, a leading global credit rating agency, has revised its projections for India\u2019s economic growth and inflation, indicating a shift in the country\u2019s financial landscape. India\u2019s GDP forecast for the current year has been lowered, while inflation projections have been adjusted, signaling challenges in the country\u2019s economic recovery. The agency\u2019s revision highlights global economic uncertainties and domestic factors that are influencing India&#8217;s growth trajectory.<\/p>\n\n\n\n<p><strong>Revised GDP Projections for India<\/strong><\/p>\n\n\n\n<p>S&amp;P Global has reduced India\u2019s GDP growth forecast for the year from 6% to 5.5%. This revision comes amid various economic pressures, including slower global demand and domestic challenges like inflation and supply chain disruptions. Despite the reduction, India is expected to remain one of the fastest-growing major economies. The country\u2019s economy has faced hurdles, but it is still expected to grow at a relatively strong pace compared to other global powers.<\/p>\n\n\n\n<p><strong>Inflation Projections Revised Amid Global Challenges<\/strong><\/p>\n\n\n\n<p>Alongside the GDP revision, S&amp;P Global has also updated its inflation forecast for India. The inflation rate is now expected to be around 5.5% for the current year. This is a significant adjustment from previous projections, reflecting the rising commodity prices and the ongoing pressures on food and energy costs. The agency has emphasized that inflation remains a key challenge for India, as it impacts consumer spending and economic stability.<\/p>\n\n\n\n<p><strong>Factors Influencing India\u2019s Economic Outlook<\/strong><\/p>\n\n\n\n<p>Several factors have contributed to the downgrade in India\u2019s economic projections. These include global economic slowdowns, particularly in key markets like the U.S. and Europe, which affect India\u2019s exports. Additionally, the lingering effects of the COVID-19 pandemic, supply chain disruptions, and fluctuations in oil prices are influencing inflation rates. While India\u2019s domestic consumption and government reforms provide optimism, external economic pressures pose a risk to achieving the previously expected growth targets.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\" id=\"S&amp;P-Global-India-economic-forecast\"><img decoding=\"async\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2024\/11\/SP-Global-India-economic-forecast.jpeg\" alt=\"S&amp;P Global India economic forecast\n\" class=\"wp-image-27450\" width=\"718\" height=\"402\" title=\"S&amp;P Global India economic forecast\"\/><figcaption class=\"wp-element-caption\">S&amp;P Global India economic forecast<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_This_News_Is_Important\"><\/span>Why This News Is Important<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Impact on Government Policies and Reforms<\/strong><\/p>\n\n\n\n<p>The revision of India\u2019s GDP and inflation forecasts by S&amp;P Global has significant implications for the government\u2019s economic policies. It underscores the need for careful management of inflationary pressures and global economic vulnerabilities. Policymakers may need to adjust fiscal policies, enhance support for key sectors, and address supply chain disruptions to ensure stable growth.<\/p>\n\n\n\n<p><strong>Influence on Investor Confidence<\/strong><\/p>\n\n\n\n<p>This adjustment could affect investor confidence in India\u2019s economy. A lower GDP growth forecast and higher inflation may lead to more cautious investment decisions, both from foreign and domestic investors. However, India\u2019s long-term economic fundamentals, such as its large consumer base, demographic dividend, and growing tech sector, continue to provide opportunities for investors.<\/p>\n\n\n\n<p><strong>Impact on Employment and Cost of Living<\/strong><\/p>\n\n\n\n<p>The revised inflation forecast is likely to impact the cost of living for many Indians. With rising prices for essentials like food and fuel, the average consumer may face increased financial strain. Additionally, slower GDP growth could affect job creation, leading to more competition for available opportunities, particularly in the wake of the pandemic&#8217;s economic impact.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Historical_Context_Background_Information_on_Indias_Economic_Growth\"><\/span>Historical Context: Background Information on India\u2019s Economic Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India has long been considered one of the fastest-growing economies in the world, driven by a large population, an expanding middle class, and robust demand for services and goods. In recent years, India has experienced both highs and lows in its economic performance.<\/p>\n\n\n\n<p><strong>Economic Reforms and Growth Prospects<\/strong><\/p>\n\n\n\n<p>In the early 2000s, India embraced significant economic reforms that boosted growth, including liberalization of markets and increased foreign direct investment (FDI). However, external challenges such as global financial crises, rising oil prices, and domestic issues like inflation have affected growth forecasts from time to time. The COVID-19 pandemic also hit India hard, disrupting businesses and leading to a contraction of the economy in 2020.<\/p>\n\n\n\n<p><strong>Current Economic Challenges<\/strong><\/p>\n\n\n\n<p>India\u2019s economic growth has been steady but faced challenges in recent years, with global slowdowns impacting exports and domestic inflation eroding consumer spending. Despite these challenges, India is often seen as a bright spot in the global economy, with expectations that it will continue to grow, albeit at a slower pace than initially anticipated.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways_from_%E2%80%9CS_P_Global_Revises_Indias_GDP_and_Inflation_Projections%E2%80%9D\"><\/span>Key Takeaways from &#8220;S&amp;P Global Revises India\u2019s GDP and Inflation Projections&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Serial No.<\/th><th>Key Takeaway<\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>S&amp;P Global has revised India\u2019s GDP growth forecast for the year from 6% to 5.5%.<\/td><\/tr><tr><td>2<\/td><td>Inflation in India is projected to be around 5.5% for the current year, reflecting global and domestic price pressures.<\/td><\/tr><tr><td>3<\/td><td>Factors such as global economic slowdowns, supply chain disruptions, and rising oil prices have influenced these revisions.<\/td><\/tr><tr><td>4<\/td><td>Despite the revisions, India remains one of the fastest-growing major economies globally.<\/td><\/tr><tr><td>5<\/td><td>The changes in economic forecasts may lead to adjustments in government policies and investor confidence.<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">S&amp;P Global India economic forecast<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_FAQs_for_Students_from_this_News\"><\/span>Important FAQs for Students from this News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_is_the_latest_revision_in_Indias_GDP_forecast_by_S_P_Global\"><\/span><strong>1. What is the latest revision in India\u2019s GDP forecast by S&amp;P Global?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>S&amp;P Global has revised India\u2019s GDP growth forecast for the current year from 6% to 5.5%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_What_factors_influenced_S_P_Globals_revision_of_Indias_GDP_and_inflation_projections\"><\/span><strong>2. What factors influenced S&amp;P Global\u2019s revision of India\u2019s GDP and inflation projections?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The revision is influenced by factors such as global economic slowdowns, supply chain disruptions, rising commodity prices, and inflationary pressures in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_What_is_the_current_inflation_projection_for_India_by_S_P_Global\"><\/span><strong>3. What is the current inflation projection for India by S&amp;P Global?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>S&amp;P Global has revised the inflation projection for India to 5.5% for the current year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_How_might_the_revision_in_GDP_and_inflation_projections_affect_the_Indian_economy\"><\/span><strong>4. How might the revision in GDP and inflation projections affect the Indian economy?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The revisions could impact government policy decisions, investor confidence, and consumer spending. Slower growth and higher inflation may affect job creation and the cost of living.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_How_does_Indias_revised_GDP_growth_compare_to_other_global_economies\"><\/span><strong>5. How does India\u2019s revised GDP growth compare to other global economies?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Despite the revision, India is still expected to remain one of the fastest-growing major economies globally.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Current_Affairs_Links\"><\/span>Some Important Current Affairs Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/national\/\" target=\"_blank\" rel=\"noreferrer noopener\">State Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" 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https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Download this App for Daily Current Affairs MCQ&#8217;s<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"News-Website-Development-Company\"><a href=\"https:\/\/www.martindiainfotech.com\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner.png\" alt=\"News Website Development Company\" class=\"wp-image-438\" title=\"News Website Development Company\" srcset=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner.png 900w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner-300x50.png 300w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner-768x128.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">News Website Development Company<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>S&amp;P Global Revises India\u2019s GDP and Inflation Projections Introduction: A Shift in India\u2019s Economic Outlook S&amp;P Global Ratings, a leading global credit rating agency, has revised its projections for India\u2019s economic growth and inflation, indicating a shift in the country\u2019s financial landscape. India\u2019s GDP forecast for the current year has been lowered, while inflation projections&#8230;<\/p>\n","protected":false},"author":6,"featured_media":27451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,144],"tags":[17608,12603,14611,17606,17607],"class_list":["post-27417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-economy_finance","tag-economic-growth-india-2024","tag-india-economic-news","tag-india-gdp-forecast","tag-india-inflation-rate","tag-sp-global-india"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/27417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/comments?post=27417"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/27417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media\/27451"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media?parent=27417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/categories?post=27417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/tags?post=27417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}