Page-2 of Economic growth Current Affairs, GK & News

India to host G20 Summit in 2023

The G20 summit of 2020 was hosted by Saudi Arabia recently. The subsequent G20 summits are to be held in Italy in 2021, Indonesia in 2022, India in 2023 and Brazil in 2024. About G20 summit, 2020 The main focus of the Summit was on resilient, inclusive and sustainable recovery from covid-19 crisis. During the ..

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Moody’s revises India 2020 GDP forecast to 8.9% contraction

Credit rating agency, Moody’s Investors Service has revised the Gross Domestic Product (GDP) forecast of India to -8.9 percent upwards for calendar year 2020 from the -9.6 percent contraction forecasted earlier. The agency forecasted in September 2020 that India’s GDP will contract by 9.6%. Other Key Points GDP forecast for calendar year 2021 for India ..

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GDP contracted by 23.9 % in first quarter of 2020-2021

According to the recent National Statistical Office (NSO) data, India’s Gross Domestic Product (GDP) growth contracted by 23.9% in the first (April-June) quarter of 2020. It is the sharpest contraction since India started reporting quarterly data in 1996. Key Points Construction, manufacturing, trade, hotels and other services and mining were the worst-hit sectors This reflects ..

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IMF: World Economic Outlook

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 ..

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COVID-19: Fifth Recession of India

Since Independence in 1947, India has faced four recessions. According to Reserve Bank of India (RBI), the recessions occurred in 1958, 1966, 1973 and 1980. Highlights Recession is defined as the fall in economic activities of the country along with decline in sales, income and employment. India has so far seen four such negative GDP ..

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