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"From the economy's point of view, the lockdown undoubtedly looks costly right now, but compared to the lives of Indian citizens, it is nothing" (translation, original in Hindi). [76] A new set of guidelines for the calibrated opening of the economy and relaxation of the lockdown were also set in place which would take effect from 20 April. [77]
The economic crisis created a situation where India had to accept the conditions imposed by the World Bank and the IMF, which included structural reforms. As a result, the Indian economy was opened up to foreign participation in various sectors, including state-owned enterprises. This move towards liberalization was seen by some as necessary to ...
Growth during the 1980s was higher than in the preceding decades but fragile. It not only culminated in a crisis in June 1991 but also exhibited significantly higher variance than growth in the 1990s. Central to the high growth rate in the 1980s was the high growth of 7.6 percent during 1988–1991. [16]
The Philippines' real GDP contracted by 0.2% in the first quarter of 2020, the first contraction since the fourth quarter of 1998, a year after the 1997 Asian financial crisis. [332] The economy slipped in technical recession after a 16.5% decline was recorded in the second quarter. [333]
During the financial crisis of 2007–2008, performance of the Indian banking sector was far better than its international counterparts. This was also credited to the successful implementation of the recommendations of the Narasimham Committee-II with particular reference to the capital adequacy norms and the re-capitalization of the public ...
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
The first popular use of the phrase in Hindi was Atma Nirbhar Bharat Abhiyan (Self-Reliant India Mission) during the announcement of India's COVID-19 pandemic economic package in 2020. Since then, the phrase has been used by the Ministry of Consumer Affairs, Food and Public Distribution , the Ministry of Education , and, the Ministry of Defence ...
The reasons AT&T gave for the cancellation was to invest the money into its networks and in taking care of its employees during the pandemic. [71] In response to the economic damage caused by the pandemic, some economists have advocated for financial support from the government for individual Americans and for banks and businesses.