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Showing posts from May, 2020

2.3 % Grew in China’s Economy

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  China’s economy recovered to pre-pandemic growth rates in the fourth quarter, propelling it to a stronger than expected full-year expansion of 2.3% and making it the only major one to avoid contraction.  Gross domestic product climbed 6.5% in the final quarter from a year earlier, fueled by stronger-than-expected industrial output, the statistics bureau said Monday.   Covid-19, which has ravaged the world economy, first emerged in central China in late 2019. But the world's second-largest economy also became the first to bounce back after imposing strict lockdowns and virus control measures. It is expected to be the only major world economy clocking positive 2020 growth. In the last three months of 2020, China's economic rebound continued with a better-than-expected 6.5 percent growth on-year, a sustained improvement since the second quarter. This brings it back to a pre-pandemic trajectory, although full-year 2020 growth is still its worst performance since 1976, when the ec

Analyzing The Stimulus Package

For the five successive days, Finance Minister Nirmala sitharaman has announced various measures to boost the economy and- as she repeatedly says- to fulfill the dream of Prime Minister of a new 'Aatma Nirbhar Bharat' or 'self-reliant' India. Earlier on 12 May, P.M Modi said that the package will be around 20 lakh crore, 10 % of India's GDP. But the package is likely to cost government only 1 percent of the GDP. There is a huge difference between the benefits and the actual cost, this is due to the material benefits such as bank guarantee and permission given in the major Announcement. The total policy support of Atmanirbhar Bharat stands at nearly Rs 11 lakh crore, with a direct fiscal impact of mere Rs 1 lakh crore (0.5% of GDP). With this, the overall economic package stands at mere 0.8 per cent of GDP, said Madhavi Arora, Economist, Edelweiss.A report by Barclays also highlighted that the government’s fiscal support programme, which sums up to Rs 21 lakh crore i

The Ground Reality of 20 Lakh Crore

On Tuesday Prime Minister Narendra Modi announced a Rs 20 lakh crore stimulus package to outfit the impact of corona and weeks of lockdown. The 'special economic package', equivalent to around 10 percent of India's GDP, would be the key component of " Aatma Nirbhar Bharat"  or self-reliant India. Recent decisions of RBI and an earlier package, would add to stimulus of about Rs 20 lakh crore, he said as he announced the widely anticipated move on Day 50 of the lockdown .The package will focus on land , labour, liquidity and law; it will help the small businesses, labourers, farmers, the middle class and cottage industries. It will focus on the well being of migrant workers too- said the PM.   The package is not entirely new. While the PM  did not give the details, he did specify that this calculation of Rs 20 lakh crore includes what the government has already announced and the steps by the Reserve Bank of India. PM have included the actions of RBI, India's cen

Current Scenario: Impact of Corona on Economy

The biggest problem around globe is novel corona-virus, More than four million confirmed cases from 187 country are reported till now. The impact on the global economy may be huge, something not witnessed from the ages. This is going to be very awful for many Indian who are dependent on daily wages and monthly salaries. Indian corporates  have started cutting salaries and perks. A lock down to stop the spread of corona virus has seen the 122 million people loss their job In April alone. India's Unemployment rate is 27.1% according to the Center for Monitoring the Indian Economy (CMIE). The new data shows India's unemployment figure are four times that of US.  Unemployment hit 23.5% in April, a sharp spike from 8.7% in March. This is attributed to the lock down which brought most economic activity- except essential services such as hospitals, pharmacies and food supplies- To a standstill. The trade impact of corona virus epidemic for India is estimated to be about 348 million d

Indian Media and its pseudo nature

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Media plays a very important part in our  Democracy and  makes people  aware about various kind of information in form of news across the world. Media's main role is to provide unbiased news without tampering and censorship. The media need to promote the actual news with facts and it should not give any information or news under any kind of political pressure. So they can maintain their creditable and gain the trust of audience. But the reality is different  media houses are just focusing on making themselves wealthy and earn the highest TRP rather than showing true image of what is going in the society. In a country like India,where there diverse society and biggest democracy of  world where people can say what they feel and express their view but our media is dividing people into right wing and left wing, anti-government and pro-government. Media should not believe in such policies but just need to present true facts to audience.  Rajdeep Sardesai, senior journalist and consult

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