Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly

IMF lowers India’s GDP projection



Indian Economic Update


  • The International Monetary Fund (IMF) projects global growth to rise from an estimated 2.9% YoY in 2019 to 3.3% in 2020 and 3.4% in 2021. The new projections represent a downward revision of 0.1 percentage point for 2019 and 2020, and 0.2 for 2021 compared to those made in the October forecasts.
  • The IMF also lowered India’s Gross Domestic Product (GDP) growth projections from 6% YoY to 4.8% for 2019 and from 7% to 5.8% for 2020.
  • The Reserve Bank of India (RBI) on Jan 23 raised the investment limit for Foreign Portfolio Investments (FPI) in government and corporate bonds. According to the current norms, short-term investments by a foreign portfolio investor should not exceed 20% of the total investment of that FPI in either central government securities or state development loans. This short-term investment limit has been increased from 20% to 30%.
  • The government, on Thursday, asked the Department of Telecommunications (DoT) not to take any coercive action against telecom companies for non-payment of Adjusted Gross Revenue (AGR) dues until further court orders.


Global Update


  • US President Mr Trump expressed confidence that the US will reach a new trade agreement with Europe, arguing that leaders in the region have “no choice” but to make a deal amid the threat of auto tariffs. In response, Germany's ambassador to the US, Ms Emily Haber said, the European Union could also impose duties on US products.
  • The European Central Bank (ECB) Governing Council said in a statement that the Eurozone base interest rate will remain at 0.00%, with the marginal lending rate and deposit rate remaining at 0.25% and minus 0.50%.
  • The Bank of Japan left rates unchanged and painted a brighter picture of the economic outlook, offering indication that the likelihood of additional stimulus has receded.
  • Chinese officials halted travel from Wuhan, essentially locking down the city of 11 million people as they try to stop the spread of the coronavirus, which has already infected hundreds and claimed 17 lives.
  • The Bank of Canada maintained status quo. However, it cut its GDP growth forecasts. It also provided strong indications that it could be open to cut rates if the economy continues to show persistent weakness.
  • US President Mr Donald Trump’s impeachment trial began on Tuesday.