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Economic Forecast - Shanmugam IAS academy in coimbatore
Economic Forecast


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.



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.


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