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India’s Covid crisis is a warning for other low- and middle-income countries: IMF
PTI
Washington |
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‘The ongoing catastrophic second wave in India is a sign the worst may be yet to come in the developing world.’
Observing that the ongoing “catastrophic” second wave of Covid-19 in India is a sign that the worst may be yet to come, the IMF has said. The organisation also said that the situation in India is a warning of the possible events in low- and middle-income nations that have seemingly escaped the pandemic till now.
A report co-authored by International Monetary Fund (IMF) economist Ruchir Agarwal and its Chief Economist Gita Gopinath on Friday said that under the ‘business-as-usual’ scenario, the vaccine coverage in India is expected to remain under 35 per cent of the population by the end of 2021.
SBI changes rules, timings amid second COVID-19 wave; all you need to know
Customers are advised to visit the bank only if necessary as the bank will be open only for four hours; The public sector bank is making all efforts to avoid face to face interaction
BusinessToday.In | May 20, 2021 | Updated 12:49 IST
State Bank of India (SBI) has changed the opening and closing time of its branches amid the second COVID-19 wave in India. Customers are advised to visit the bank only if necessary as the bank will be open only for four hours 10 am to 2 pm till May 31, according to the Indian Banks Association.
Samsung, LG, Vivo, others brace for sale crash as lockdowns dwindle demand
Many companies, including giants like Apple and Samsung, even export their electronic parts and products out of India. At current production capacity, they can only cater to demand from global markets
BusinessToday.In | May 20, 2021 | Updated 12:47 IST
Though the Centre has refrained from imposing nationwide lockdown like last year, state-wise lockdown curbs have hurt businesses hard
Big electronic brands in India are bearing the brunt of the second Covid-19 wave as lockdowns and curbs around online selling of non-essential products in most states lead to a crash in sales. As India struggles against the wrath of Covid-19 wave, most top electronic companies such as LG, Panasonic, Carrier Midea, Vivo, Oppo, Haier and Godrej have either shut their plants or have cut down on production significantly.
Second COVID-19 wave humanitarian crisis, not economic one: Nomura
Nomura said it expects the overall hit to sequential growth in April-June to be much less severe than last year when there was a complete nationwide lockdown, and less than what the drop in mobility suggests
PTI | May 20, 2021 | Updated 16:00 IST
The second wave of the pandemic in India is more of a humanitarian crisis rather than an economic one, and is likely to have peaked, a Japanese brokerage said on Thursday.
Nomura said it expects the overall hit to sequential growth in April-June to be much less severe than last year when there was a complete nationwide lockdown, and less than what the drop in mobility suggests. It estimated the economy to contract by only 3.8 per cent in June quarter as compared with March quarter.