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Economic Forecast - Shanmugam IAS academy in coimbatore
Economic Forecast

WORLD MENTAL HEALTH DAY

What’s in news?

World Mental Health Day is observed on October 10 annually since 1992.

Key data’s:

  • Aim: To mobilize efforts in support of mental health and provides an opportunity for everyone to talk and discuss mental health issues, and what more needs to be done.
  • Theme 2019:Mental Health Promotion and Suicide Prevention”.
  • Suicide is one of the main problems among the youngsters between the age group of 15-29 years of age and WHO estimated that, for every 40 seconds, someone losing their life.
  • In 1994, for the first time, the day was celebrated with a theme – “Improving the Quality of Mental Health Services throughout the World”.
  • This year, the day was supported by WHO, the International Association for Suicide Prevention and United for Global Mental Health.

40 seconds of action:

An awareness campaign launched by WHO to raise awareness about the rising incident of suicide and on its prevention.

 

ECONOMIC FORECAST OF MOODY

What’s in news?

India’s economic growth were forecasted as 5.8% from 6.2% earlier by Moody.

Key data’s:

  • Moody’s Investors Service lowered its 2019-20 growth forecast for India to 5.8% from 6.2% earlier.
  • The economy of our country was experiencing a pronounced slowdown partly due to long-lasting factors. 

Reason for this slowdown:

  • Deceleration to an investment-led slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation.
  • With the recently announced corporate tax cuts and lower nominal GDP growth, it expects a central government deficit of 3.7% of GDP in 2019-20, marking a 0.4 percentage point slippage from its target.
  • Moody, the rating agency’s projection comes ahead of the International Monetary Fund’s growth projections due next week.
  • Georgieva, new managing director of IMF, forecasted to its lowest rate since the beginning of the decade due to a widespread deceleration to an investment.
  • It expects growth to pick up to 6.6% in FY21 and around 7% over the medium term.
  • According to the Reserve Bank of India (RBI), is likely to be near this trough at 5.3% in the July-September quarter.
  • Last month, the Asian Development Bank and the Organisation of Economic Cooperation and Development lowered 2019-20 growth forecast for India by 50 basis points and 1.3 percentage points to 6.5 per cent and 5.9 per cent.

 

Link for our new UPSC Channel – https://bit.ly/2oTWVYF

 

Links to note:

https://www.iasipstnpsc.in/economy-2/

https://www.theweek.in/news/biz-tech/2019/10/10/moodys-slashes-india-gdp-growth-forecast-below-6-percent.html

https://www.news18.com/news/world/world-mental-health-day-2019-date-theme-and-significance-2340007.html

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