INDIA MUST ADOPT PLANS THAT AVERT THE WORST-CASE SCENARIO
Forecast of a Contraction in Economy Forecasting the sharpest contraction in world output since the Great Depression of the 1930s, the IMF slashed its projection by 6.3 percentage points from its January forecast for 3.3% growth to a 3% decline. In contrast, the recession of 2009 saw world output contract by a mere 0.1%. In […]
A SHOT OF HOPE WITH A GAME CHANGING VACCINE
Gravity of the situation Over the initial phase of the national lockdown (March 24 to April 14), India reported a 20-fold increase in confirmed SARS-CoV-2/COVID-19 cases (468 to >10,000), and a 36-fold increase in deaths (9 to 330). Increased testing may partly account for this; but testing is still inadequate and this data represent underestimates. […]
EXPLAINED: TYPES OF HUMAN CORONAVIRUSES
What are coronaviruses? Coronaviruses are a large family of single-stranded RNA viruses that cause diseases in animals and humans. In humans, the viruses usually cause mild to moderate upper-respiratory tract illnesses such as the common cold. In the last two decades, more aggressive coronaviruses have emerged that are capable of causing serious illness and even […]
Explained: Why Oil Prices Dropped to Negative? – for UPSC Exam
The Free Fall of Oil Prices: Oil Economics- Of Brent, WTI and OPEC plus Explained for UPSC Exam (Read full article to understand how oil futures & contracts work, their impact on Oil prices) What is happening? For the first time ever, a key U.S. oil benchmark, West Texas Intermediate, went below zero on 20th […]
CONCERNS OVER CHINA’S MEASURES TO PREVENT ILLEGAL WILDLIFE TRADE
Why in news? China recently started a process to classify a step to rein in animals and birds from illegal trading in wildlife. China has drawn criticism from several quarters over its handling of wet animal markets after the outbreak of the novel coronavirus disease (COVID-19). China on April 8, 2020, circulated a list of […]
PREVENTING FOOD SHORTAGES IS HIGH PRIORITY FOR SOUTH ASIA
Adverse Impacts of the World Bank’s Forecast The forecasted scenarios translate for South Asia into sharp declines in exports, disruptions in global value chains, deterioration of investment sentiment, reversal of capital flows, and reduced remittances. An extended lockdown for three months and a more partial lockdown in subsequent quarters would lead to a negative growth […]
KARZAI WELCOMES INDIA’S INVOLVEMENT IN TALKS
Why in news? Former Afghan President Hamid Karzai has welcomed the American gesture to bring in India into the ongoing negotiation for sustained peace in the war-torn country. The Afghanistan President said that he hopes India will join the peace process in support of a sovereign and united Afghanistan with a strong government, in keeping […]
ISLAMOPHOBIA IS RISING IN INDIA: OIC
Why in news? Calling on the Indian government to take steps to protect Muslim minorities who are being “negatively profiled,” facing “discrimination and violence” amidst the COVID-19 crisis, the 57-member Organisation of Islamic Cooperation (OIC) has criticised what it called “growing Islamophobia” in India. Recently the Ministry of External Affairs had reacted sharply to two […]
E-COMMERCE CAN’T SUPPLY NON-ESSENTIALS; GOA IS FIRST TO TURN VIRUS FREE
Why in news? The Ministry of Home Affairs (MHA) on 19th April 2020 clarified that supply of non-essential goods by e-commerce companies will remain prohibited during the lockdown. Goa, on 19th April 2020, became the first zero COVID-19 State in the country with the last seven positive cases also turning negative. What did the ministry […]