Asia’s economy grows less strongly

Asia's economy grows less strongly

The Asian Development Bank (ADB) reduced its economic growth forecasts for developing countries in Asia and the Pacific, amid worsening global prospects, according to its outlook report. GDP growth forecast Albert Park, ADB’s chief economist, said “Asia and the Pacific will continue to recover, but worsening global conditions mean the region’s momentum is losing steam as we … Read more

India’s trade deficit at record high of $25.63 billion in June

India's trade deficit at record high of $25.63 billion in June

India’s trade deficit is continuously increasing. A trade deficit means you are buying more of what you need, but not making something that other countries want to buy. India’s trade deficit widened to a record $25.63 billion in June, driven by imports and slower exports of petroleum, coal and gold, raising concerns about a further … Read more

IMF warns Of ‘lost generation’ If Low-Income Countries Don’t Get More Help

The head of the International Monetary Fund (IMF) has urged countries with advanced semi-system to provide resources to low-income countries. IMF has warned that if this is not done, there will be a ‘big deviation’ in global growth which will threaten stability and social unrest will increase in the coming years. ALSO READ: Arnab Goswami, Kangana … Read more

Economy is improving rapidly: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has said that after a long and tight lockdown in the economy of India is now improving strongly. Announcing new measures to boost the economy, he told in a press briefing that ‘the economy is on track’. He said that the international rating agency Moody’s, while changing India’s growth rate for … Read more