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Economic Report (May 2020)
Global growth has hit unprecedented depths of despair amidst COVID-19 with substantial risks of even more severe outcomes remaining. The IMF’s World Economic Outlook of April 2020 projected global output in 2020 to contract by 3% with the output of advanced countries contracting more than emerging markets and developing economies.
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Economic Report (April 2020)
Following a cyclical downturn, the Indian economy had begun to regain momentum with clear signs of an uptick in consumption and investment towards the end of Q3 2019-20, only to be halted by the pandemic that made the Government enforce country-wide lockdown in late March 2020.
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Government Reforms and Enablers for COVID-19
The Government of India is working on the next phase of Ease of Doing Business Reforms related to easy registration of property, fast disposal of commercial disputes, a simpler tax regime, among others, to make India one of the easiest places to do business in.
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Support to New Horizons of Growth
As part of the COVID-19 stimulus plan, The Government of India announced structural reforms in eight sectors – Coal, Minerals, Defence Manufacturing, Civil Aviation, Power Sector, Social Infrastructure, Space and Atomic energy – that will open up avenues for enhanced trade and investment activities
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Annual Report 2019-20 – MoSPI
The Ministry of Statistics and Programme Implementation (MoSPI) attaches considerable importance to coverage and quality aspects of statistics released in the country. The statistics released are based on administrative sources, surveys, and censuses conducted by the Central and State Governments and non-official sources and studies.
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COVID-19 Support to Agri Sector
India is one of the largest producers of food products in the world, spanning grains and vegetables to milk and meat. To protect the sector from the impact of Coronavirus, the Government of India has brought out a range of initiatives.
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COVID-19 Support to the Most Vulnerable
The Government of India has provided a wide range of support, from special EPF withdrawal to food ration, to support the wort affected in the pandemic.
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Govt Support to Businesses in COVID-19
The Government of India’s special economic package for COVID-19 worth nearly Rs.21 trillion – equivalent to 10% of India’s GDP – involves support to businesses, including MSMEs.
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Economic Report (March 2020)
The COVID-19 pandemic has emerged as a key risk to human health and the economy the world over. As per the International Monetary Fund’s (IMF) World Economic Outlook (April 2020), global growth is expected to contract sharply by 3 per cent in 2020-21, much worse than during the global financial crisis of 2008-09. Economic Report (March 2020)
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India’s GDP growth estimated at 4.8% in the calendar year 2020 by UNESCAP
India’s real GDP growth has been estimated at 5.1 per cent for 2021 by the United Nations Economic and Social Commission for Asia and the Pacific.
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UN calls for US$2.5trn Coronavirus crisis package for developing countries
The world economy will go into recession this year with a predicted loss of global income in the trillions of dollars. This will spell serious trouble for developing countries, with the likely exception of China and the possible exception of India.
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Economic Report (February 2020)
India’s US$2.9 trillion economy is estimated to record growth of 5 per cent during the financial year 2019-20 ending March 2020. GDP growth during the third quarter was 4.7 per cent, compared with the growth of 5.6 per cent and 5.1 per cent in first quarter and second quarter of 2019-20, respectively.
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MEA Annual Report 2019-20
2019 was a year of continuity and change for the Ministry of External Affairs. Traditional partnerships and the diplomatic initiatives of the recent past were given a newer dimension by the installation of a new government following general elections in May 2019.
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Economic Report (January 2020)
India’s US$2.9-trillion economy is estimated to record growth of 5 per cent during the financial year 2019-20 ending March 2020. GDP growth during the second quarter was 4.5 per cent, following 5 per cent growth in the first quarter. The nation recorded an average gross domestic product (GDP) growth of 7 per cent over the past five fiscals.
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Highlights of Union Budget 2020-21
International trade, partnership, and investment are vital to the Government of India’s target to set up a US$5 trillion economy by 2024-25 while ensuring socio-economic development for all. The Government aims to reach this goal by strengthening the Indian market and export growth with new and amended policies and regulations, and the nation’s Union Budget for the financial year 2020-21 sought to ascertain just that.