If you (a businessman) are already having a Rs 1 crore overdraft facility, and now there is an advisory given to banks to give that person another overdraft now, but the point is how will this man take an extra loan as he is not seeing any way to expand his business more as there are no sales? … [Read more...] about ‘We are facing a loss of Rs 15,000 crore per day’
Faces and voices of recovery
The Trump administration asserts that the economy will begin to regain its health in the second half of the year, with businesses increasingly reopening and restoring jobs and consumers increasing spending. Most economists say, though, that the lingering effects of the job losses and likely business bankruptcies will take longer to overcome, especially if a second wave of the coronavirus erupts. Analysts generally believe the economy won't manage to sustain a solid recovery until a vaccine is widely available. … [Read more...] about U.S. Consumer Spending Sinks by Record 13.6% in Face of Virus
“I honestly did not think I would get here, for those of you who endured me through thick and thin, the ups and downs, for my recovery family, who keep me on the straight and narrow, who stand discreetly by side [sic] I am eternally grateful. My journey so far has been extremely colourful, always reminding myself I am a work in progress, growing and learning every day.” … [Read more...] about Best celeb pics of the week: Liz Hurley shows off her insane body in new Instagram photos
Even if you lift lockdown, it is not going to revive economic activity immediately because consumption will not revive, so demand will not. Investment will not revive, therefore demand will not revive. Only the government is spending, but it is going to lose massive tax revenue. My estimate is that the economy will not recover to January 2020 levels for several years because we are into a deep depression. It is not going to be a V-shaped recovery, it is going to be a shallow U-shaped recovery. But suppose very optimistically we go back to January 2020 in a year, then the average rate growth from (-)75% to 0% means we will have a (-)37.5% rate of growth of the economy. If the rate of growth is (-)37.5%, Tax to GDP ratio will become half of what it was earlier. It is easy to see why. GST collections largely come from non-essential goods and sin goods, those in 43% bracket, 28% and 18% brackets. Essentials are in zero per cent or five per cent brackets. … [Read more...] about Can India’s workforce have a safe return to business?
China has emerged as the central player in global supply chains over the past two decades. As the COVID-19 pandemic impacts the world economy, voices have risen calling for diversifying supply chains away from China, while experts and entrepreneurs admit China's irreplaceable role with its big advantages in manufacturing and logistics. … [Read more...] about Xinhua Headlines: China bolsters world economy by stabilizing supply chains, expanding B&R cooperation