Workers at a disposable face masks making unit in Ahmedabad, India. Agence France-Presse
As the coronavirus pandemic brings the economy to a grinding halt, raising the need for the higher government spending, India’s gross debt is likely to touch Rs170 lakh crore, which is 87.6 per cent of the GDP, according to the SBI Ecowrap.
The government is working on a privatisation plan to help to raise money by selling assets in non-core companies and sectors when the country is strapped for funds due to lack of economic growth caused by the coronavirus pandemic.
According to most estimates, the Indian economy will register a record contraction of over 4.5% in the current fiscal year that started on April 1 due to the pandemic.
With economic activities coming to a halt amid the Covid-19 pandemic and the lockdown, the Indian economy is expected to record a negative 4.5 per cent growth rate in the current financial year (FY21), according to the FICCI’s Economic Outlook Survey.
Mariam Bint Mohammed Almheiri, UAE Minister of Climate Change and Environment, called upon UAE businesses to mainstream sustainability into all their operations
The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 per cent stake in Brazilian smart weapons and high-tech systems specialist, SIATT.
Dr Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has concluded a high-level visit to Thailand, during which the two nations agreed