Coronavirus altered India’s growth outlook: RBI

News: The coronavirus outbreak has sharply altered the outlook for India’s economic recovery, Reserve Bank of India said in its Monetary Policy Report.

High- Five components of the story you need to know

  • “Before the outbreak of COVID-19, the outlook for growth for 2020-21 was looking up,” the Reserve Bank of India said.
  • “The COVID-19 pandemic has drastically altered this outlook. The global economy is expected to slump into recession in 2020, as post-COVID projections indicate.”
  • Describing the current situation as “highly fluid”, the central bank said that it is assessing the “the intensity, spread and duration of COVID-19.”
  • India has so far recorded more than 500 Coronavirus cases
  • The RBI in an emergency move last month had cut its key lending rate by a bigger-than-hoped 75 basis points 

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Edit Desk

Author: Edit Desk

Karvaan India is an online journal of politics, culture, heritage, monuments and people. We initiate conversation around the following themes with an intent to question traditional mindsets, popular discourses and initiate meaningful debates around it.
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