The Asian Development Bank has cut its forecast for India’s GDP growth in 2021-22 to 10%, from 11% projected earlier, with downside risks dominating the economic outlook. The ADB also sees rising input costs fuelling inflation to a faster 5.5% pace, than the 5.2% previously estimated.
While the COVID-19 second wave had disrupted the recovery since the ADB’s April forecast for 11% growth, the Bank expects the economy to ‘rebound strongly in the remaining three quarters and
India has climbed 2 spots and has been ranked 46th by the World Intellectual Property Organization in the Global Innovation Index 2021 rankings.
What is Global Innovation Index?
It is a global ranking for countries for success in innovation.
It is published by WIPO with Cornell University and INSEAD.
It ranks on the basis of IPR to R&D, online creativity, mobile app, education, software spending, ease of doing business etc.
The International Monetary Fund’s (IMF) World Economic Outlook has raised its Financial Year (FY) 2021 growth forecast for India to 12.5% from 11.5% estimated earlier in January 2021.
Highlights of the Report:
Indian economy is expected to grow by 12.5% in 2021 and 6.9% in 2022.
In 2020, India’s economy witnessed an estimated contraction of 8%.
Growth rate for India in 2021 is stronger than that of China.
China was the only
Global Gender Gap Report 2021 was released recently.
Released by World Economic Forum
India has fallen 28 places
It is now one of the worst performers in South Asia,
It is ranked below neighbouring countries – Bangladesh, Nepal, Bhutan, Sri Lanka and Myanmar.
India’s rank: 140 among 156 countries.
South Asia incidentally is one of the worst performing regions, followed only by the Middle East and northern Africa.
Workers’ income fell by 17% from March to Dec 2020
The COVID-19 pandemic has substantially increased informality in employment, leading to a decline in earnings for the majority of workers, and consequent increase in poverty in the country, according to ‘State of Working India 2021: One Year of Covid-19’, a report brought out annually by Azim Premji University’s Centre for Sustainable Employment, Bengaluru.
This year’s report, which covers the period March 2
The World Press Freedom Index 2021 was recently released.
About World Press Freedom Index:
The index is Published by Reporters Sans Frontieres (RSF) or Reporters Without Borders since 2002.
The Index ranks 180 countries and regions according to the level of freedom available to journalists.
However, the index neither ranks public policies and nor is it an indicator of the quality of journalism in each country or region.
The index ranks 180 countries based on the followin
Inclusive Internet Index 2021 has recently been releasedby Facebook.
About Inclusive Internet Index, 2021
Facebook Commissions the Inclusive Internet Index, 2021, and The Economist Intelligence Unit develops the index.
It seeks to measure the extent of accessibility and affordability of the Internet. Also, the internet should be able to enable positive social and economic outcomes at the individual and group levels.
The index assesses the performance of 120 countries representi
India’s 2021 economic output-below 2019 level: UN report
GS-Paper-3: Economic issue and Economics Optional – UPSC PRELIMS – Mains Application
Context: India, according to the 'Economic and Social Survey of Asia and the Pacific 2021: Towards post-COVID-19 resilient economies', is estimated to record an economic growth of 7 per cent in 2021-22, over a contraction of 7.7 per cent witnessed in the previous fiscal on account of the pandemic's impact on normal busin
The International Food Policy Research Institute (IFPRI) recently released the Global Food Policy Report, 2021.
About Global Food Policy Report, 2021:
The report provides lessons drawn from the current crisis. Especially the lessons that can help
transform food systems to reduce the impact of the ongoing pandemic,
better prepare for future shocks, and
address long-standing weaknesses and inequalities.
Theme: “Transforming Food Systems After COVID-19”.
The United Nations Population Fund (UNFPA) recently released its report “State of World Population Report 2021” titled ‘My Body is My Own’.
About State of World Population Report 2021:
The State of World Population is an annual report published by the United Nations Population Fund (UNFPA).
Bodily autonomy is the first time the focus of the report. It is defined as the power and agency to make choices about your body without fear of violence or having someone e