World Bank Group and COVID-19 (Coronavirus)
New York: The World Bank on Wednesday cut its economic growth forecast for India and the entire South Asian region on Wednesday.
Citing worsening supply bottlenecks and rising inflation risks caused by Russia’s invasion of Ukraine, World Bank brought down growth estimate for India from 8.7% to 8% for the 2022-23 fiscal year.
As for South Asia, the international lender cut by growth estimate from 7.6% to 6.6%.
According to World Bank, household consumption in India – the largest economy of the region — will be constrained by incomplete recovery of labour market from the pandemic and inflationary pressures.
“High oil and food prices caused by the war in Ukraine will have a strong negative impact on peoples’ real incomes,” World Bank Vice-President for South Asia Hartwig Schafer said in a statement.
Nuapada: At least 80 people were arrested during a massive crackdown on illegal gambling activities…
Bhubaneswar: The Odisha government has transferred Special Secretary, Planning and Convergence, Chitra Arumugam and posted…
Sambhal: A violent clash erupted in Uttar Pradesh’s Sambhal on Sunday after a group opposed…
Mumbai: Television actress Hina Khan, who is battling breast cancer, recently met host Salman Khan…
Mumbai: Following reports of his alleged link-up with bassist Mohini Dey, renowned music composer AR…
Mumbai: The love story of actors Tamannaah Bhatia and Vijay Varma has not been clandestine.…
Puri: Shree Jagannath Temple Administration (SJTA) has received the report of the Ratna Bhandar’s GPR-GPS…
With his debut novel ‘The Other Side of the Rainbow’ published recently, Niranjan Nayak, an…