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DAILY NEWS ANALYSIS
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24 April, 2020
2 Min Read
Fitch ratings slashes India’s economic growth projection to 0.8% in current fiscal
The leading credit rating agency, Fitch Ratings has slashed India's economic growth projections to 0.8 per cent in the current fiscal saying an unparalleled global recession was underway due to disruptions caused by the outbreak of Corona virus pandemic and resultant lockdowns.
In its Global Economic Outlook, Fitch Ratings said India's Gross Domestic Product (GDP) growth will slip to 0.8 per cent for the year April 2020 to March 2021 as compared to an estimated 4.9 per cent growth in the previous fiscal. Growth is, however, expected to rebound to 6.7 per cent in 2021-22.
Fitch said, the slump in growth was mainly due to a projected fall in consumer spending and contraction in fixed investment. The agency has further made large cuts to global GDP forecasts in its latest Global Economic Outlook (GEO) in response to Corona virus-related lockdown extensions and incoming data flows.
Source: AIR
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A year after tensions arising from Operation Sindoor, India and Azerbaijan have taken steps to restore and normalise bilateral relations. The 6th round of Foreign Office Consultations, held in Baku, marked the first such engagement since 2022, signaling renewed diplomatic momentum. Recent Diplomatic Engagement During the consultations, bo
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Maritime chokepoints are narrow channels along global shipping routes where maritime traffic is concentrated. These points are geopolitically and economically critical, as they handle a large proportion of global trade, especially energy shipments. Current Relevance Over two-thirds of seaborne energy trade passes through a handful o
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Following the launch of Operation Epic Fury (U.S.) and Operation Roaring Lion (Israel), the geopolitical landscape has shifted fundamentally with the confirmed death of Iran’s Supreme Leader, Ayatollah Ali Khamenei.Iran retaliated through Operation True Promise 4, launching missile attacks against Israel and nearby Gulf states. The escala
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