Recession Current Affairs, GK & News

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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Federation of Indian Export Organization: Indian Exports to fall by 20%

On May 19, 2020, the Federation of Indian Export Organization reported that the Indian Exports are to fall by 20%. This according to the organization will amount to 50-60 billion USD. Highlights The FIEO, the apex body of the exporters has requested to provide additional 2% support under the MEIS (Merchandise Exported from India) scheme. ..

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Extraordinary G20 Trade and Investment Ministerial Meet

On March 31, 2020, the “Extraordinary G20 Trade and Investment Ministerial Virtual Meet” was held through video conferencing. The Union Commerce Minister Piyush Goyal represented India at the meet. Highlights India had called for easy movement of health professionals and enhanced access to affordable medicines across national borders. Amidst the threat of COVID-19, India is ..

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United Nations: India and China likely to stay away from Global Recessions

The United Nations Conference on Trade and Development (UNCTAD) made a new analysis under the title “The COVID-19 Shock to Developing Countries”. Highlights The analysis says that leading exporting countries are to face drop in investments between 2 trillion USD and 3 trillion USD in the next two years. The world economy is to go ..

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Lack of domestic demand is holding back animal spirits in economy

In its annual report for 2018-19, the Reserve Bank of India (RBI) has stated that the lack of domestic demand is holding back the animal spirits in the economy and emphasized the need to revive consumption demand and private investment during 2019-20. The report claimed that the economy is undergoing a cyclical slowdown rather than ..

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