On June 24, 2020, the International Monetary Fund projected a sharp decline in the growth of Indian Economy. According to the IMF, the Indian economy is to contract by 4.5%. Highlights According to IMF, though India’s growth is to decline, the country will bounce back in 2021 with a growth rate of 6%. Global Projections ..
Economic growth: GK, Current Affairs, Questions, Trivia and News
S&P Global Ratings lowered India’s economic growth forecast to 5.2 per cent for the year 2020. The rating agency had earlier predicted the growth rate of 5.7% for 2020. The agency also estimated that the Asia-Pacific economic growth in 2020 will dip to less than 3 per cent. It also revealed that saying the global economy is ..
Global rating agency Moody’s Investors Service has revised downward its growth projections for India to 5.3% for 2020 from its earlier projection earlier this month-5.4%. The latest revision is part of the rating agency’s latest ‘Global Macro Outlook’ report. As per the agency, an extensive crash due to the COVID-19 outbreak will reduce growth to ..
The Central Statistics Office (CSO) recently released the GDP growth data for the October-December quarter of 2019 (third quarter of FY20). It said the GDP growth was 4.7 per cent in the third quarter, which is a slight improvement over the previous quarter’s GDP- 4.5%. As per the data, the projections for economic growth in FY20 has ..
The National Statistical Office released revised estimates for economic growth of India for the last three years, on January 31,2020. As per the report, it fixed the actual GDP growth 2018-19 at 6.1%, against its previous estimate of 6.8%, estimated in May 2019. The National Statistical Office also stated that the main reason for the ..
New research studies have predicted that the growth in major cities around the world will slow down in 2020 and 2021. The Oxford economic researchers reported that out of 10 major cities across the world, 9 will slow down. Of the top 900 cities across the world, nearly two thirds is expected to experience slower ..
The release of the first-quarter data for the financial year 2020 came as a rude surprise to economists and policy planners in the country. Due to a fall in private consumption growth and investment rate, GDP growth has fallen to barely 5% while Nominal GDP growth has reduced to 8%. This fall in GDP has ..
The Central Statistics Office (CSO) introduced a new series of National Account Statistics in 2015. The important changes made in the new series included the change in base year from 2004-05 to 2011-12, employed a new methodology to estimate India’s gross domestic product (GDP) and used new data sets to arrive at the GDP. Why ..