The coronavirus pandemic’s economic collapse in the UK is severe, worst in three centuries. The economy contracted by 9.9 percent in 2020, initial estimates from the Office for National Statistics showed on February 12, 2021. A study of historical data by the Bank of England shows that recession to be the worst since 1709, the year known as the Great[Read More...]
The Finance Minister, Nirmala Sitharaman has announced a series of measures in the name of Atmanirbhar Bharat 3.0 package in order to re-energise the stagnant Indian economy. These measures include credit support for the stress sectors, increasing of job creation, measures to boost the reality sector and tax relief to the homebuyers and developers. The whole amount is Rs. 2.65 lakh[Read More...]
In previous article (Crisis Management Part (II)), (Read Part I) I have started discussing the concept “Interest Free Loan” which will be an important alternative Banking Principle to be discussed and implemented in a country whose GDP is -23.9% due to lockdown and the downfall of its economy was in discussion from couple of years. Interest Free Loan is the[Read More...]
Interview with Prof. Arun Kumar by Mohd. Nuashad Khan What’s your take on the free fall of the GDP? Is it because of the pandemic or something else? I am surprised that the decline in GDP in Q1 is given as 23.9 per cent. It should have been much more because the unorganised sector which is 45 per cent[Read More...]
The World Health Organization (WHO) first announced COVID-19 as a world health crisis in January 2020. Since the virus was first diagnosed in Wuhan, China, it has been actively discovered in over 190 countries.[1] In early March, the point of convergence of infections transferred from China to Europe, especially Italy and Spain, but by April 2020, the virus was all[Read More...]
