Indian Economy to Shrink by 9.5% in FY 2020-2021: ICRA

The credit rating agency, ICRA, has predicted that the Indian economy will see a major slowdown in the current fiscal and it is expected to contract by around 9.5% in the Financial Year 2020-2021. The agency had earlier predicted a slowdown of 5% for the Indian Economy. The reason behind this revision has been shown ..

Month: Current Affairs - July, 2020

Category: Economy & Banking Current Affairs

Topics: Economic Slowdown • Gross value added • ICRA • Indian Economy • Rural economy

GoI: White Paper released on Focused Interventions for Make in India

On July 10, 2020, the Union Health and Family Welfare Minister Dr Harsh Vardhan released white paper on “Focused Intervention for Make in India”. Highlights The document released outlines technology and policy imperatives required to revive Indian Economy. The white paper was prepared by TIFAC (Technology Information, Forecasting and Assessment Council). About the White Paper ..

Month: Current Affairs - July, 2020

Category: India Nation & States Current Affairs

Topics: Atma Nirbhar Bharat Abhiyan • Food Processing • Harsh Vardhan • Indian Economy • Make in India • Ministry of Health and Family Welfare • TIFAC

TIFAC

The TIFAC is to come up with a white paper on strategizing the revival of the Indian economy after the COVID-19 pandemic runs its course. Key Focus of the White Paper The think tank is to come up with strategies for reviving the Indian economy after the COVID-19 crisis. It is to focus on: Strengthening ..

Topics: COVID-19 • DST • Indian Economy

S&P estimates COVID-19 cost to be $620 billion for 14 Asia-Pacific countries

International ratings agency S&P Global Ratings has recently estimated the cost of COVID-19 outbreak for 14 Asia-Pacific countries at $620 billion. Though a country-wise break-up was not provided for its estimate, it said that the total and permanent income loss will affect the balance-sheets of government, banks, corporates and households. Last week, S&P cut India’s ..

Topics: Asia-Pacific • Coronavirus • Indian Economy

Fitch Ratings cuts India’s growth forecast to 5.1% for FY 2020-21

Fitch Ratings has recently cut India growth forecast to 5.1 per cent for FY 2020-21.  Fitch had projected India to grow at 5.6 per cent in 2020-21 and 6.5 per cent in the following year, in its previous report released in December 2019. In its Global Economic Outlook 2020, Fitch also estimated that India will ..

Topics: Coronavirus • Fitch Ratings • Indian Economy