Category: Economy News
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Economic impact of coronavirus
(Pooja Dubey, Intern Journalist) The production of the 8 most prominent industries of the country registered a decline of 9.6 percent in July. These eight industries are called the core sectors of the country. These 8 industries are coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. The core sector declined due to a…
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Attempts to revive the economy!
(Pooja Dubey, Intern Journalist) The Reserve Bank of India has expanded the rules for Priority Sector Lending. This will help start-ups and the renewable energy sector. Under the new rules, start-ups will now get loans of up to 50 crores. At the same time, the loan limit for the solar plant and biogas for the farmers has been…
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Unemployment Currently, 1 in 10 people is unemployed
(Anjali Shreya, Intern Journalist): New unemployment figures released by the Center for Monitoring Indian Economy (CMI) have disappointed. Urban unemployment stood at 10 percent in August. India’s unemployment rate was the worst in the formal sector this month. July saw a drop in unemployment figures after the lockdown. Reduced employment opportunities:The lockdown exemption was expected…
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Rahul Gandhi accused Modi government of destroying economy
(Namita Pradhan, Intern Journalist) Rahul Gandhi on Monday has accused the Modi government of destroying the country’s economic sector. He has put allegation on that the government wants to break this sector and called upon the whole country to stand together and fight for it. The BJP mocked on it and says to release a…
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P Chidambaram – “Don’t blame God for a man-made disaster”
(Dharshini.G, Intern journalist) New Delhi: In a sharp reaction to Finance Minister Nirmala Sitharaman’s “Act of God” remark on the effect of Covid on the economy, Congress pioneer P Chidambaram said today: “Don’t blame God for a man-made disaster.” The previous Finance Minister, in a meeting to NDTV a day after a 24 percent drop…
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Japan to extend the emergency loan of 50 billion yen for India
(Rishitha Jaladi, Intern Journalist)Japan: Japan on Monday stated that it will lengthen emergency mortgage aid of up to 50 billion yen in the direction of India’s response to the Covid-19 pandemic that consists of an implementation of fitness and scientific policy. Additional Secretary, Department of Economic Affairs of Finance Ministry, CS Mohapatra and Japanese ambassador Suzuki…
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Economy more Resilient now than Global Financial Crisis
(Dharshini.G, Intern journalist) The Indian economy stays a lot stronger in the midst of the coronavirus pandemic than it was during the worldwide monetary emergency about 10 years prior regardless of whether the development has eased back, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday. Talking at an occasion composed by the Business…
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Pandemic may have pushed 100 million into poverty: David Malpass
Saloni Subha ( Intern Journalist ) The coronavirus pandemic might have pushed as many as 100 million people back into extreme poverty, warned World Bank President David Malpass on Thursday. According to Washington based development lender 60 million people would fall into extreme poverty due to Covid-19, but as per the recent data the number…
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Growth in the purchase price for Sugarcane
(Namita Pradhan, Intern Journalist) A major relief for the sugarcane farmer, as the government has increased the fair and remunerative price (FRP) of Sugarcane to Rs 10 each quintal to Rs 285 each quintal for the year 2020-2021 the marketing year started from 1st October. It had kept a long-standing proposal as the government has…
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Financial Crisis Management: How to plan your finances in a corona epidemic
(Aditya Shaw, Intern Journalist): The Covid-19 epidemic has brought the world to a standstill. Probably, this is one of the biggest crises in the last 75 years. However, there are ongoing efforts to deal with this epidemic. Also, to deal with this difficult time, we have to prepare from now on for the coming time.…