-United Nations/ PTI/ NDTV With two-thirds of the world's population living in developing countries facing unprecedented economic damage from the COVID-19 crisis, the UN is calling for a USD 2.5 trillion rescue package for these nations. United Nations: The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic, spelling serious trouble for developing countries with the...
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Sitharaman unveils Rs 1.7 lakh crore lockdown package for poor: Top announcements today
-The Indian Express Ahead of Sitharaman's press conference, the Sensex jumped 1500 points or over 5 per cent to cross the 30,000 mark. The rupee also rose 64 paisa against the dollar to settle at 75.24. To help the economy come out of the coronavirus shock, Finance Minister Nirmala Sitharaman on Thursday announced a Rs 1.7 lakh crore package under Garib Kalyan Yojana that would largely benefit unorganised sector workers, especially daily...
More »$5 trillion economy by 2024? Magic realism at play given current low -Maitreesh Ghatak
-NDTV Lately, the January releases from the Central Statistics Office (CSO) about the advanced estimates of national income have a touch of seasonal chill. The estimate of the real GDP growth rate for 2019-20 has touched 5%, falling from 6.8% in 2018-19, continuing a downward slide that started in 2016-17. This is the lowest growth rate since 2008-09, which was the year of the global financial crisis. Indeed, in the entire...
More »Fresh concerns for basmati exporters awaiting Iran dues -Harish Damodaran
-The Indian Express Rice exporters alone are said to be stuck with receivables of Rs 800-900 crore against shipments made till June 2019. A major hit to India from the uncertainty triggered by the assassination of Iran’s most powerful military commander could be to its multi-billion dollar basmati rice export industry. The Islamic republic accounted for $1.56 billion (Rs 10,790.02 crore) out of India’s total $4.71 billion (Rs 32,804.30 crore) worth of...
More »Dr. Surjit S Bhalla, economist and Executive Director for India on the board of International Monetary Fund (IMF), interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line “Join the Regional Comprehensive Economic Partnership (RCEP), but do not ignore your internal market and demand. Ninety per cent of our bad export story is domestic challenges, 10 per cent is external environment or external policy,” says Economist Surjit S Bhalla. Seventy-one-year old Bhalla has a tough task ahead — to make New Delhi’s voice louder at the international forums as he is set to take charge...
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