World Bank pegs India’s 2021/22 economic growth at 8.3%

India’s growth for FY 2021/22, which began in April 2021, is forecast at 8.3%, supported by plans for higher spending on infrastructure, rural development, and health, and a stronger-than-expected recovery in services, the World Bank said. “Better growth prospects since January, however, masks significant damage to economic activity from COVID19. The economy is expected to […]

Read more

Global economy seen growing at 5.6% in 2021 as many developing countries struggle with pandemic’s lasting effects

dominik-luckmann-SInhLTQouEk-unsplash-scaled.jpg

The global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies, but many emerging market and developing economies are still struggling with the COVID-19 pandemic and its aftermath, the World Bank said in its latest Global Economic Prospects report Despite […]

Read more

MSME engineering exporters seek PM’s intervention on rising steel prices

Engineering exporters in the MSME segment have sought Prime Minister Narendra Modi’s intervention on rising steel prices, stating that the industry needs the alloy and other inputs at affordable rates so that export competitiveness of value-added products is maintained in the global markets. In a letter to the prime minister, Ludhiana Hand Tools Association President said that many […]

Read more

Second Covid-19 wave throws cold water on Indian economy, says CRISIL, as it lowers GDP forecast to 9.5%

The second Covid-19 wave has thrown cold water over the Indian economy that was beginning to warm up after the most severe contraction since Independence, rating agency CRISIL said, adding that it was lowering it’s the country’s economic growth forecast by 150 basis points to 9.5 percent for the current fiscal. “The rash of afflictions […]

Read more

India’s ministry of mines to address shortcomings in fixation of average sale price of minerals

India’s mines ministry is looking to address the “issues and shortcomings” that come in the way of fixation of average sale price (ASP) of minerals. The government has also sought suggestions from various stakeholders to overcome the issue till the National Mineral Index (NMI) is formulated for individual minerals. Miners’ body Federation of Indian Mineral […]

Read more

Cryptocurrency: Can Ethereum beat Bitcoin in future?

The recent decline in Bitcoin price has put the spotlight back on the second biggest cryptocurrency, Ethereum, which, according to some, has the potential to replace it as the number one digital currency in market share, Business Today reported on Tuesday. Bitcoin has seen a major fluctuation in price in the past couple of months. […]

Read more