Global economy to go into recession in 2020
By MYBRANDBOOK
There is no deny in the fact that, the global economy could slump into recession in 2020. It also says that aggregate demand is expected to be impacted adversely by likely recession in the global economy, caused by disruptions in global supply chains, travel and tourism, and lockdowns in many economies.
The global economy is expected to go into recession after taking into account the impact of the COVID-19 pandemic, the Reserve Bank of India (RBI) said in its latest Monetary Policy report."Aggregate demand is expected to be impacted adversely by likely recession in the global economy, caused by disruptions in global supply chains, travel and tourism, and lockdowns in many economies," the RBI said in its latest monetary policy report.
The effect comes as the country is under a 21-day lockdown as part of larger efforts to curb spreading of coronavirus infections, it may get further extended up to 30th april 2020. However,few state governments had announced on the extension of the date and the first state to take the step is Odisha . Another important thing is ,the world-wide recession is likely to have adverse affects on the Indian economy.Talking about the impact of the coronavirus outbreak on the Indian economy and job market. It is true that that some sectors are badly affected,but segments like medical care may even grow during the crisis.This is going spread to most part of the economy,including the banking system.Like a punctured cycle can't move forward on one wheel.
Secondly, social unrest has already started in many parts of India due to the countrywide lockdowns. Soon as the lockdowns relaxed,migrant workers who are marooned in different parts will try to return home.Resulted they will probably hesitate to migrate again for a while.
Experts expect that, 2020-21 a GDP growth of 2 per cent,the slowest since economy has liberalised 30 years back. Asian Development Bank (ADB) sees India's economic growth slipping to 4 per cent in the current fiscal( April 2020 to March 2021),while S &P Global ratings last week further slashed GDP growth forecast for the country t0 3.5 per cent from the previous downgrade of 5.2 per cent.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
DELL TECHNOLOGIES INDIA PVT. LTD.
ADITYA INFOTECH LTD.
NUMERIC INDIA, A Group Brand Legrand
PRAMA HIKVISION INDIA PRIVATE LIMITED
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Harsh Jain
Harsh Jain, the co-founder of Dream 11, the largest fantasy sports web...
Icons Of India : RAJENDRA SINGH PAWAR
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT ...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
PARTNER SPEAKERS
PSU
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
