Inmates of the Jalpaiguri Central Correctional Home on Saturday staged a violent protest and threw bricks at the police quarters demanding they be released forthwith as per a Supreme Court order amidst the COVID-19 pandemic in India.
The IMF on Tuesday projected a GDP growth of 1.9 per cent for India in 2020, as the global economy hits the worst recession since the Great Depression in the 1930s due to the raging coronavirus pandemic that has nearly stalled all economic activities across the world.
Telangana Chief Minister K. Chandrashekhar Rao on Saturday urged Prime Minister Narendra Modi to announce Rs 10.15 lakh crore Quantitative Easing to counter what he called the impending recession.
More than 60 U.N. agencies and international organizations urged governments on Thursday to take immediate steps to address the unfolding global recession and financial crisis wrought by the coronavirus pandemic, especially in the world’s poorest countries. The body has urged respective governments to scrap debt payment in the current scenario.
To accommodate this surge, the IMF is deploying total financial capacity of $1 trillion, Georgieva said, emphasising that "we are determined to use as much as necessary in protecting the economy."
At a time when every country is fearing what will happen to the economy once the world is over coronavirus pandemic, the United Nations in a report has said that India and China's economy may not get affected when the world economy goes into recession.
International Monetary Fund (IMF) Chief Kristalina Georgieva has said that thanks to the coronavirus, the world is entering a recession that will be worse than that of 2009. While addressing an online press briefing, Georgieva said that with the 'sudden stop' of the global economy, revival will take a massive fund of $2.5 trillion.
Market benchmark BSE Sensex closed lower by 131 points or 0.44 per cent in volatile trade on Friday, cutting short its three-day winning run due to deepening growth concerns and a less-than-expected moratorium on loans announced by the RBI in its monetary policy.
Observing that the human costs of the coronavirus pandemic are already immeasurable, the IMF on Monday said the world is headed towards a recession at least as bad as during the global financial crisis or worse.
A global recession is likely if COVID-19 becomes a pandemic, and the odds of that are uncomfortably high and rising with infections surging in Italy and Korea, Moody's Analytics said on Wednesday.
BJP Ballia MP, Virendra Singh Mast has said that if the nation was going through a recession then people wouldn't have been buying clothes, pants and pajamas.
Bihar Deputy Chief Minister Sushil Kumar Modi on Saturday said the Union Budget 2020-21 will not only help in generating employment opportunities and income but will also be able to tackle recession in a better way.
"Every step being taken is in the interest of the country... looking at the economy with discerning view, you see that the growth may have come down, but its not a recession yet or it won't be recession ever," finance minister Nirmala Sitharaman said.
Steps from Hong Kong’s main tourist strip, Ashfaqur Rahman’s tailor shop usually is a mainstay for tourists dropping in to peruse neatly stacked rolls of fabric and get measured for custom-made suits. Not anymore. The business has dried up since anti-government protests began in early June in the Asian financial center.
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