Economy of India: GK, Current Affairs, Questions, Trivia and News

Moody’s cuts India’s GDP growth projection to 5.5% for next fiscal

Moody’s Investors Service recently released its estimates for India’s GDP growth in the upcoming fiscals. It lowered the real GDP growth projection for the next 2020-21 fiscal to 5.5 per cent, from its previous estimate of 6.3 per cent. The government’s Economic survey has projected a growth rate of 6-6.5% for the next fiscal. It ..

Fiscal deficit target raised to 3.8 percent for FY20

In the recent Union Budget 2020-21, the government has estimated the fiscal deficit target for 2020-21 at 3.5 per cent of GDP (Budget Estimate). The fiscal deficit target for 2019-20 was estimated at 3.3% earlier, which has also been revised to 3.8% of GDP, citing revenue shortage as the reason. Under the Fiscal Responsibility and ..

Union Budget 2020-21: disinvestment target set at ₹ 1.2 Lakh Crores

In the Union Budget 2020-21, the Government has set its disinvestment target at ₹ 1.2 Lakh Crores for the fiscal year 2020-21. The government also expects ₹90,000 crore revenue from disinvestment of government stake in public sector banks and financial institutions, including the LIC and IDBI bank. This is in addition to the 1.2 Lakh Crore ..

NSO releases revised estimates of India’s economic growth

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 ..

Vizag Port records highest growth rate among major ports

The Vishakapatnam Port Trust has recorded a growth rate of 10% for this fiscal year despite the economic slowdown and weak market conditions. The VPT is currently at the fourth spot among the major ports of India. The first three spots are held by the Kandla Port, Paradeep Port and the Jawaharlal Nehru Port Trusts. ..

Major global cities to slow down according to research

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 ..

Cabinet approves Sale of Government stake in CPSEs

On 20 Nov, the Union Cabinet approved the sale of government’s stake in Bharat Petroleum Corporation Limited (BPCL), Shipping Corporation of India (SCI) and freight-linked container corporation of India (CONCAR). The move was a major step towards privatization. Finance Minister Nirmala Sitharaman  said  that the government has also approved to bring down the stake in ..

Cube Highways bid the highest for third lot of TOT projects

Cube Highways has emerged as the highest bidder for the third of the toll-operate-transfer (TOT) projects offered by the National Highways Authority of India.  The National investment and Infrastructure Fund (NIIF) quoted Rs 4,230 crore while Mumbai-based IRB quoted Rs 3,510 crore. TOT model in India has been developed to encourage private participation in the ..