Great Recession in Europe Current Affairs, GK & News
Rating agency CRISIL has slashed India’s growth forecast to 5.5%. It is the second cut for fiscal 2013 estimate. Earlier, the agency had cut GDP growth to 6.5%. Deficient rainfall and worsening Eurozone situation are the main causes behind the decline. As per CRISIL, the sluggish growth is expected to put pressure on government finances. ..
The UK economy has returned to recession, after shrinking by 0.2% in the first 3 months of 2012. The Office of National Statistics held that a sharp fall in construction O/P was behind the surprise contraction. The UK economy shrank by 0.3% in the fourth quarter of 2011. The UK economy was last in recession ..
The Indian Economy has shown the slowest pace in six quarters. Data released by the Central Statistics Office have showed growth in the April-June quarter of the current financial year stood at 7.7% compared to 8.8% in the same year-ago period. In the January-March quarter, the economy expanded 7.8%. The reasons are: Rising interest ..