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ECONOMIC IMPACT OF CORONAVIRUS - MAHARASHTRA TODAY

The economic impact of the 2020 coronavirus pandemic in India has been largely disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy. Notably India had also been witnessing a pre-pandemic slowdown, and according to the World Bank, the current pandemic has "magnified pre-existing risks to India's economic outlook".<br>The World Bank and rating agencies had initially revised India's growth for FY2021 with the lowest figures India has seen in three decades since India's economic liberalization in the 1990s. However, after the announcement of the economic package in mid-May, India's GDP estimates were downgraded even more to negative figures, signalling a deep recession. (The ratings of over 30 countries have been downgraded during this period.) On 26 May, CRISIL announced that this will perhaps be India's worst recession since independence. State Bank of India research estimates a contraction of over 40% in the GDP in Q1 The contraction will not be uniform, rather it will differ according to various parameters such as state and sector. On 1 September 2020, the Ministry of Statistics released the GDP figures for Q1 (April to June) FY21, which showed a contraction of 24% as compared to the same period the year before.<br>

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ECONOMIC IMPACT OF CORONAVIRUS - MAHARASHTRA TODAY

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  1. ECONOMIC IMPACT OF CORONAVIRUS - MAHARASHTRA TODAY MAHARASHTRA TODAY

  2. ABOUT THE TOPIC The quick spread of the coronavirus, the latest pandemic, is wreaking havoc on financial markets, causing capital flight, currency devaluation and threatening a global economic recession

  3. ” The chances of the worst-case scenario, with all major economies suffering a significant shock, are rising by the day" —Tom Orlik, Bloomberg Economics ECONOMIST

  4. IMPACT OF CORONAVIRUS ON THE STOCK MARKET ( KSE ) NSE (BSE) Spain’s main stock exchange dropped from 10,000 points to just under 7,000 points As for the Dow market index, Boeing suffered the highest plunge, losing 18% of its value Japan’s main stock index saw its lowest mark since its previous iteration in November 2016

  5. IMPACT OF CORONAVIRUS ON THE STOCK MARKET NAME POINTS VAR.(%) VAR.(€) PREVIOUS BSE 6,260.00 -2.84% -183.30 6,443.30 KSE 8,611.99 -3.57% -318.36 8,928.95 ( INX ) 19,173.98 -4.55% -913.21 20,087.19 ICEX 500 2,304.92 -4.34% -104.47 2,398.10 NSE 16,887.78 +2.02% +334.95 16,552.83

  6. PROBLEM SOLUTION Introducing measures such as fiscal stimuli could help alleviate an economic recession Due to forced home isolation, people spend less money and exports are limited or halted

  7. OECD’s FORECAST OF covid-19 2019 2020 (Projected) Nov. 2020 (Projected)

  8. FLIGHTS FROM INDIA TO OTHER REGIONS $10bn+ in losses 200,000+ Canceled flights 120 (ON AVG.) Passengers per flight 25M Passengers in total

  9. FLIGHTS FROM INDIA TO OTHER REGIONS -14.5% -98.1% The Americas Asia-Pacific -22.6% -31.9% Africa/Middle East Europe

  10. Impact OF COVID-19 ON THE TECH INDUSTRY -160% -123% Smartwatches Computers -104% -101% Smartphones Consoles -121% -45% Smart speakers TV sets

  11. COUNTRIES WITH THE HIGHEST RECESSION CAUSED BY covid-19 Predictions may vary depending on the spread of the virus ⯀ ⯀ ⯀ ⯀ ⯀ ⯀ China USA India Iran Italy Spain

  12. ACCORDING TO OECD, THIS VIRUS PRESENTS THE “HIGHEST THREAT TO GLOBAL ECONOMY SINCE THE FINANCIAL CRISIS OF 2007-08”

  13. $48.6 per gram With concerns of a global recession, the price of gold is being affected too $26.22 -92% The price of oil has fallen to its lowest mark since June 2001 Indian car sales fell this much during the first half of February

  14. $11.3b $11.3b Estimated loss of income for airlines this year

  15. WTI Crude Oil Prices $63.27 $58.37 $49.61 Jan 06, 2020 Jan 21, 2020 Feb 04, 2020

  16. WTI Crude Oil Prices $44.76 $31.13 $20.55 Feb 28, 2020 Mar 09, 2020 Mar 18, 2020

  17. WE ARE ALSO AVAILABLE ON SOCIAL SITES TO GIVE YOU THE DAILY UPDATES! https://www.facebook.com/maharashtratoday https://www.instagram.com/maharashtratoday/ https://twitter.com/mtnews_official

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