Economic slowdown News

Notably, the number of self-employed individuals, mostly those running small businesses, seeking to join the program reached 26,267 as of end-November, already exceeding last year's record of 25,024. 

The report showed that the economic downturn caused by COVID-19 resulted in an additional 2,67,208 infant deaths in low-income countries The highest numbers of estimated excess infant deaths were in South Asia, totalling 1,13,141

The world prepared for a coronavirus pandemic on Friday as hopes the disease could be contained to China vanished and investors dumped equities in expectation of a global recession. Share prices were on track for the worst week since the global financial crisis in 2008 as virus-related disruptions to international travel and supply chains fuelled fears of a recession in the United States and the Eurozone.

Former PM Manmohan Singh on Wednesday (February 19) said the current government does not acknowledge the word "slowdown" and it is highly unlikely that the current dispensation will be able to take corrective action to boost the Indian economy.

Chief Economic Advisor KV Subramanian on Gross Domestic Product (GDP) data said "We are saying again that the fundamentals of the Indian economy continue to be strong. GDP is expected to pick in Quarter 3." 

According to the data released by the government, India's GDP grew at a measly 4.5 per cent in the July-September quarter of this fiscal. 

 The Sena editorial stated that the economic growth rate has declined to the lowest level in the past 15 years despite tall claims made by the Centre.

According to party leaders, the rally will be addressed by the party interim Chief Sonia Gandhi, former party President Rahul Gandhi and general secretary Priyanka Gandhi Vadra.

An array of leaders from as many as 13 Opposition parties met on Monday at the Constitutional Club in Delhi, to discuss the issues related to the economy and the ongoing Regional Comprehensive Economic Partnership (RCEP) negotiations in Bangkok, with emphasis on their implications in India.

The Congress will hold 35 press conferences between one-eight November, Congress will also hold protests from November 5-15 to highlight the country`s current economic situation. Senior party leaders will address these press conferences.

Ahead of Parliament's Winter Session, which is scheduled to commence from November 18, the main opposition party Congress is planning to hit the streets to protest against the Centre over the issue of economic slowdown. 

Congress General Secretary Priyanka Gandhi Vadra on Saturday lashed out at the government and said that their job was to "improve the economy" and not "run a comedy circus". Priyanka was responding to Union Minister Piyush Goyal's statements on Nobel laureate Abhijit Banerjee.

Union Finance Minister Nirmala Sitharaman on Friday gave a clarion call for ‘concerted action’ to mitigate the disruption on account of synchronous slowdown and to invoke the spirit of multilateralism for global growth during an annual meeting plenary session of the International Monetary Fund (IMF) and the World Bank Group held in US.

FM Sitharaman further said, ''We do have a listening government which responds to the affected sectors.''

Union Minister Ravi Shankar Prasad on Saturday refuted the worries surrounding the economic slowdown and cited the earnings of three blockbuster movies in a single day to suggest that the economy was sound.

The Left parties had last month announced a protest on October 10 and 16 to press for their demands which also include stopping privatisation of the public sector and raising the minimum monthly old age and widow pension to Rs 3,000.

Union Minister Giriraj Singh on Saturday highlighted the achievements of Narendra Modi-led NDA government while stating that the entire world is witnessing a wave of economic slowdown, and not just India.

Union Finance Minister Nirmala Sitharaman announced mega corporate tax cut which led to the mega-market gain on Friday. 

More than 50,000 Indian-Americans from across the US have registered for the September 22 mega "Howdy, Modi! Shared Dreams, Bright Futures" event to be held in Houston.

A statement made by Labour Minister Santosh Gangwar on the issue of lack of job opportunities had triggered a major political uproar.