Economy
ADB slashes 2020 growth forecast for developing Asia to 0.1% from 2.2%
The ADB kept its economic growth forecast for developing Asia for next year at 6.2%
FM gives relief to small taxpayers, halves interest on delayed filing of GST returns
No late fee will be levied for delayed filing of GST returns by registered entities with nil liability, said Sitharaman
RBI proposes stricter governance rules for commercial banks
RBI said the objective of tougher guidelines was to align the current regulatory framework with global best practices
Turn crisis into opportunity, says PM Modi; reiterates self-reliance
PM Modi said that the government has reformed many sectors, it is now time for indsutry and youth to take benefit of those reforms
OECD sees global economy contracting at least 6% in 2020
By the end of 2021, the loss of income exceeds that of any previous recession over last 100 years outside wartime, says OECD chief economist
World Bank says global economy to shrink 5.2%, worst recession since WWI
Per capita incomes are expected to decline by 3.6 per cent, which will tip millions of people into extreme poverty this year
US economy entered recession in February
US gross domestic product fell at a 4.8% annualized rate in the first three months of the year
Japan's economy shrinks less than initial estimate but still in recession
Export-dependent Japan's economy had contracted at an annual rate of 7.2% in the October-December period
No new government schemes for a year, Centre cuts back amid COVID-19 crisis
Schemes that are already approved for the currrent financial year will remain suspended till March 31 next year or further orders
Lockdown flattened GDP curve, not COVID-19: Rajiv Bajaj
Airing concerns of the industry, Bajaj said India now needs to generate demand for which a stimulus is required for providing cash to people