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Facing fiscal deficit of 7%, Modi govt can get the Reserve Bank of India to buy sovereign bonds directly or boost dividends to help supplement revenue.
According to an analysis, tropical and subtropical countries whose average temperatures are already warmer than 15° C today face catastrophic economic degradation.
Sincerity not shrewdness should drive public policy, especially economic policies. Modi government should know that packaging can only go a little far.
Global gross domestic product will probably shrink 5.2% in 2020, the World Bank said in its semi-annual Global Economic Prospects report.
Bangladesh’s 6% growth forecast is lower than previously targeted 8.2% & down from 8.15% a year ago, but it’ll be an outlier in a world set to contract.
After an era that saw a boost in tourism and freer capital markets, an Asia disconnected from the world would be a major step back.
Indian economy is headed for its first annual contraction in 40 years and the human cost has piled up in the form of hunger and untreated disease.
As India begins gradually easing the Covid lockdown, reopening the economy isn’t going to be a straightforward exercise, businesses say.
The slippage adds to the challenges faced by PM Modi, who is trying to salvage growth that has ground to a halt due to a nationwide lockdown to curb Covid-19 spread.
With India’s GDP set to shrink, RBI needs to think beyond cutting interest rates and flooding banks with liquidity.