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

IEA highlights 30% Drop in Energy Demand in India

The International Energy Agency highlighted a 6% decline in global energy demand and a 30% drop in India’s energy demand. Global Scenario The IEA predicted that the global energy demand shock this year would be the biggest since the World War II. Currently, the world is seeing a 6% decline in energy demand- equivalent to ..

Business Interruption Insurance

In light of the unprecedented economic losses due to the lockdown, businesses in India are looking at business interruption insurance for a way out. About Business interruption insurance is a type of insurance that covers the income loss of a business due to a disaster. It covers losses like rent, operational charges, salaries, etc. apart ..

Economic situation to be the worst since the 1997 Asian Financial Crisis

The recently released World Bank report predicted that the economic situation in the near future could be the worst since the 1997 Asian Financial Crisis. 1997 Financial Crisis The 1997 Asian Financial Crisis is also known as the Asian Contagion. It was a sequence of currency devaluations in the region leading to decline in the ..

Circuit Breaker in Stock Market

For the first time since 2008, the circuit breaker was triggered and the trading was halted for 45 minutes in the Bombay Stock Exchange. Circuit Breaker The index based market-wide circuit breaker system was introduced by the SEBI (Securities and Exchange Board of India) in 2001. It is a mechanism used to prevent the markets ..

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 ..

India International Leather Fair, 2020 held in Chennai

The 35th edition of India International Leather Fair (IILF), 2020 is being held in the capital city of Tamil Nadu, Chennai. The fair is being held from February 1 to 3, 2020 at the Chennai Trade Centre. The fair is organized by India Trade Promotion Organisation (ITPO), which functions under aegis of Ministry of Commerce ..