World Bank may forecast steeper India contraction

The World Bank on Wednesday indicated that it may further lower its GDP projections for India and said critical reforms in key areas such as health, labour, land, skills and finance were needed to come out stronger from the COVID-19 crisis.
The World Bank, had in May, projected that the Indian economy would contract by 3.2% in FY 2020-21 and rebound slowly in the next financial year.

‘Further challenges’

“Further challenges have emerged in recent weeks which are likely to weigh on the prospects in the near term. These risks include the virus continuing to spread; further deterioration in the global outlook; and additional strains projected on the financial sector,” the bank said in its India Development Update.
“Keeping these factors in mind, a steeper contraction may be projected in the revised outlook that will be available in October 2020,” it added.
It projected India’s fiscal deficit to rise to 6.6% of GDP in FY21 and remain elevated at 5.5% in the following year.

Source: TH

Join Our Telegram

Institute of Banking Personnel Selection

Clause 6 of Assam Accord

World bank logistic performance index 2023

28 Apr, 23
SHARE

World bank logistic performance index 2023 India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Mini

Smuggling of Gold

28 Apr, 23
SHARE

Smuggling of Gold Airports discovered more than 63% of this illegal gold. The Department of Revenue Intelligence recently conducted the Golden Dawn Operation across India, seizing 101.7 kg of illegal gold valued at Rs 51 crore. Despite the fact that India receives a legal import of about 800-1,000 tonnes of gold each year, the illicit mar

India-Thailand Relations

27 Apr, 23
SHARE

India-Thailand Relations Both parties expressed satisfaction with the ongoing bilateral defence cooperation at the 8th India-Thailand Defence Dialogue, which was held in Bangkok, Thailand. Cultural ties and mutual cooperation that have been shaped by thousands of years of lasting historical and cultural ties characterise India and Thailand

Translocation of Elephants

27 Apr, 23
SHARE

Translocation of Elephants The Kerala government's appeal of the order of the Kerala High Court is rejected by the Supreme Court. The Kerala government's appeal against the Kerala High Court's directive to move Arikomban (Wild Elephant), the "rice tusker" of Munnar, to the Parambikulam tiger reserve was recently dismis

Global Buddhist Summit

26 Apr, 23
SHARE

Global Buddhist Summit In order to improve diplomatic and cultural ties with other nations, the Ministry of Culture recently organised the First Global Buddhist Summit 2023 in collaboration with the International Buddhist Confederation (IBC). About the summit "Responses to Contemporary Challenges: Philosophy to Praxis" is