Monday, Jul 04, 2022
Jan 15, 2021 Outlook Web Bureau The IMF Managing Director predicted a less bad outlook for India in the upcoming World Economic Update due to the steps taken by it.
Oct 16, 2020 PTI The World Bank and IMF concluded their annual meeting on Friday, which heavily revolved around the impact of COVID-19.
The chart showed that the Indian economy is projected to contract by a massive 10.3 per cent this year, the highest contraction among the countries mentioned.
Oct 15, 2020 PTI Describing COVID-19 as a global human crisis, IMF Managing Director Kristalina Georgieva has urged the Indian government to prioritise on protecting the most vulnerable sections of society.
According to Vitor Gaspar, Director of the IMF's Fiscal Affairs Department, it is interesting to note that India's debt ratio has been stable at around 70 percent of GDP over the past decade.
The IMF said on Tuesday that the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year.
The remarks by International Monetary Fund's Chief Spokesperson Gerry Rice on Thursday came in response to a question on the recent FDI announcements made by global giants like Facebook and Google in India.
The International Monetary Fund (IMF) projected the global growth at –4.9 per cent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook forecast.
Shaktikanta Das said the RBI will announce new measures to maintain adequate liquidity in the system, facilitate bank credit flow and ease financial stress.
The impact of the coronavirus on the Asia-Pacific region will be severe, across the board, and unprecedented, IMF noted, adding that Asia's growth in 2020 will come to a standstill.
The virus is causing a tragic loss of life, and the lockdown needed to fight it has affected billions of people. What was normal just a few weeks ago — going to school, going to work, being with family and friends — is now a huge risk, IMF chief Kristalina Georgieva.
With the worldwide economic 'sudden stop,' the IMF chief said the fund's estimate 'for the overall financial needs of emerging markets is $2.5 trillion.'
'It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence,' IMF Managing Director said.
"We had a downgrade in one large market India but we believe that's temporary. We expect momentum to improve further going ahead. There are also some bright spots like Indonesia and Vietnam," IMF Chief Kristalina Georgiev said.
While the IMF guards such statements with the condition of availability of fiscal space, there will be some tough decisions that may have to be taken by the government on Feb 1 when the Union budget is presented, as it involves taking a call on the fiscal numbers.
The new projections estimate growth at 2.9 per cent in 2019, 3.3 per cent in 2020 and 3.4 per cent in 2021.
Debt as a share of GDP remains little changed over the past decade partly due to increases in off-budget financing.
The report pinned the slowing growth of the Indian economy on the deceleration of consumption and investment that was made worse by regulatory uncertainty.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.
PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.
PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.
PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.
PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.
PTI Photo/ Shahbaz Khan
He would take his colour, brushes and canvas outside to paint and talk with his love. He would stand close to the window and paint, keeping an eye on his muse.
They say the violin mimics the human sound. In his case, it was that of love, of longing. He didn’t know any other way of loving.
Younger people do not have much progressive beliefs; a 2017 survey found that one-third of young people opposed inter-caste marriage.
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