Focus Merit

Category: Economy

India’s GDP for FY21 predicted at 4.8%: United Nations

April 10, 2020
GDP
  • India’s GDP growth for the current fiscal is expected to slow down to 4.8 percent, a United Nations(UN) report has said.
  • It was warning that the COVID-19 pandemic is expected to result in significant adverse economic impacts globally.

MSMEs to get emergency working capital by SIDBI

April 8, 2020
sidbi
  • Small Industries Development Bank of India(SIDBI)  will provide emergency working capital of Rs. 1 Crore to Micro, Small and Medium Enterprises (MSMEs). 
  • This amount will be provided at an interest rate of 5% within 48 hours under the SIDBI Assistance to Facilitate Emergency response against Coronavirus (SAFE).

Global Economy can suffer a loss of USD 4 Trillion due to COVID-19: ADB

April 4, 2020
ADB
  • Due to Global Coronavirus Pandemic, Asian Development Bank(ADB) has projected that the global economy can suffer a whooping loos of USD 4 trillion as most of the countries are under partial/complete lockdown and the substantial decrease in import/export of countries. 

ADB downgrades India’s GDP to 4% for FY2021

April 4, 2020
ADB

Asian Development Bank expects India’s economy to grow at 4% for the financial year 2020-21. 

Click Here for the Updated list of GDP Predictions

USD 100 million green bonds listed in India INX by SBI

April 3, 2020
SBI
  • Green Bonds worth 100 million has been listed by State Bank of India on Bombay Stock Exchange’s India International Exchange(India INX).
  •  Green bonds are debt securities issued by financial, non-financial or public entities where the proceeds are used to finance 100 per cent green projects and assets. 
  • India now has the second-largest emerging green bond market after China.

S&P further cut India’s growth forecast to 3.5% from 5.2% for FY21

April 1, 2020
GDP
  • S&P Global Ratings has cut India’s growth forecast to 3.5% for the coming fiscal from an early downgrade to 5.2% on 30th March.
  • It told declining credit quality due to the COVID-19 outbreak persisted in many countries.

Affordable housing firm Aavas receives $60m ADB loan

April 1, 2020
Asian Development Bank (ADB)
  • The Asian Development Bank (ADB) has inked an agreement to lend up to $60 million to Aavas Financiers Ltd, a housing finance company in India, to enhance access to housing finance for lower-income borrowers, especially women.

Fitch Solutions drops India GDP growth forecast to 4.6% for FY21

March 31, 2020
GDP
  • Fitch Solutions on 30th March cut its measure for India’s GDP growth in the fiscal starting April 1 to 4.6 percent due to coronavirus outbreak, resulting in economies around the globe.
  • The growth approximate for 2020-21 fiscal (April 2020 to March 2021) compares with a 9 per cent forecast in the current 2019-20.

Ind-Ra lessens India’s GDP forecast to 3.6% from 5.5% for FY21

March 31, 2020
GDP
  • India Ratings and Research (Ind-Ra) recently cut its Gross Domestic Product (GDP) growth approximation for India for fiscal 2020-21 to 3.6 percent from 5.5 percent.
  • The reasons told are the COVID-19 and the nationwide lockdown till April 14.

ADB to fund USD 100 million in the Indian’s Infrastructure sector via NIIF

March 30, 2020
ADB
  • Multilateral institution Asian Development Bank (ADB) on Monday declared a USD 100 million investment for the Indian infrastructure sector through the National Investment and Infrastructure Fund’s (NIIF).
  • The investment declaration comes at a crucial time for India, whose economic growth is weakening due to the COVID-19.