India’s economy has suffered more than most from the pandemic and so have its people. The country has lost more than a year’s worth of growth and perhaps a decade’s progress in its efforts to reduce poverty. The economic contraction — the first in India since the 1970s — has put pressure on its government like so many others to respond.
Global Economic
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India GDP Growth For FY20 Revised To 4% From Earlier Estimate Of 4.2%
India GDP growth in 2019-20 stood at 4% compared with the provisional estimate of 4.2%, according to the first revised estimates released by the Ministry of Statistics and Programme Implementation on Jan. 29.
Powell Says No Bond Taper for ‘Some Time’ as Recovery Moderates
Federal Reserve Chair Jerome Powell made clear the U.S. central bank was nowhere near exiting massive supportfor the economy during the ongoing coronavirus pandemic, as officials lefttheir benchmark interest rate unchanged near zero and flagged a moderating U.S. recovery.
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After Fed’s Meeting, Boeing Reports a Record $11.9 Billion annual loss
Fed Meeting : The financial results were announced on Wednesday morning, shortly after aviation regulators in Europe approved the 737 Max to fly again
Stocks, Futures Decline After Fed; Dollar Climbs: Markets Wrap
Futures Decline After Fed – Asian stocks dropped with U.S. and European futures Thursday after Federal Reserve Chair Jerome Powell highlighted uncertainty about the economic rebound. The dollar advanced against major peers.
Fed Sees Rates Near Zero Through 2023 to Boost Jobs, Inflation
Fed Sees Rates – Stocks erased gains amid a selloff in giant technology companies and Federal Reserve Chairman Jerome Powell’s remarks over an uncertain economic rebound without further stimulus.
India Q1 GDP Outlook: Economy is Forced to Shutdown And Restart Mode
India Q1 GDP was likely to see its lowest point of growth this year during the April-June quarter at -15.2%, according to a Nomura report on Wednesday.
RBI Annual Report 2019-20: Economy To Grow, Inflation To Ease By Q4FY21
Currency notes of ₹2,000 denomination were not printed in 2019-20 and the circulation of these notes have declined over the years, according to RBI annual report.
FOMC Minutes – Welcomed Improvement In Financial Conditions With Many Market
According to the FOMC minutes, there has been a welcomed improvement in financial conditions with many market functioning indicators returning to pre-pandemic levels and “purchases were conducted at the minimum pace directed” as a result.
GOLD, CRUDE OIL PRICES FOCUSED ON US FISCAL STIMULUS TALKS
Looking ahead, US fiscal stimulus negotiations may be in focus as officials scramble to get a deal done before Congress departs for a recess at the end of the week. Democrats have put up a proposal costing $3.5 trillion while Republicans countered with a $1 trillion scheme.