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Today, due to Coronavirus, the call of the global recession has started in the whole world. The biggest reason for this is a large number of cuts in jobs. Due to this, the purchasing power of the people has decreased, due to which the demand is falling in every sector of the economy and as a result, the economies are seen getting stuck in the recession. Many financial measures are taken by the government to remove the economy from the state of this recession, which is called fiscal and monetary measures. One of these monetary measures is Helicopter Money by which the economy is prevented from getting caught in the recession.   What is Helicopter Money?   The term Helicopter Money was first coined by economist Milton Freedman in 1969. This means that the Reserve Bank will print the money and give it directly to the government so that it can distribute it to the public so that people can meet their basic needs with this money.   It is symbolic like pouring money...

  Coronavirus has caused a lot of damage to the world economy. At the same time, ordinary people will also face a lot of trouble. 37 million people in the world are poor. In fact, the Bill and Melinda Gates Foundation report says that progress in the health sector over the past several decades has completely defied and put the world in a major economic crisis. According to the report, no matter how much the actual spread of corona has occurred, the virus has caused great financial devastation.   The foundation cited the IMF report as saying that in the Corona period, $ 18000 billion has been spent on improving the global economy and boosting growth. After that, by the end of 2021, a loss of 12 trillion or more is expected. The Foundation's annual report 'Goalkeepers Report' states that it analyzes the UN's Sustainable Development Goals on poverty alleviation and health-related issues.   In the report, the Foundation stated that extreme poverty has increased 7 pe...

  Japan's economy recorded a major decline in the second quarter (April – June) due to the COVID-19 epidemic. Japan's Cabinet Office said on Tuesday that real gross GDP fell by 28.1 per cent year-on-year in the April-June quarter. This is worse than last month's estimate of 27.8 per cent. The coronavirus epidemic has forced people to stay home. In addition, restaurant-stores are closed. The travel and tourism business has come to a standstill. This has affected global economies and many companies. Japan's economy is dependent on exports. Exports have been badly affected due to the lockdown. This has led to a major decline in Japan's GDP. Japan's Prime Minister Shinzo Abe has resigned due to health reasons. After this, the process of choosing a new Prime Minister is going on. Party members can vote on this next week. The Cabinet Office says that increasing growth will be a priority after the new PM is elected.   According to data released by the Cabinet Offic...

  Fitch Ratings has projected a steep 10.5 per cent drop in the Indian economy in the current financial year 2020-21. India's gross domestic product (GDP) declined by 23.9 per cent in the first quarter (April-June) of the current financial year. It is one of the highest figures of decline in major economies of the world. A strict lockdown was imposed in the country because of the Coronavirus epidemic. This is considered to be a major reason for the decline in the economy.   Fitch Ratings said on Tuesday that there will be an improvement in GDP in the third quarter of the current financial year i.e. October-December. However, there are clear signs that the pace of recovery in the economy will remain sluggish and uneven.   Fitch said that we have revised our estimate of GDP for the current fiscal year to -10.5 per cent. In comparison to the global economic scenario released in June, India's economy has been projected to decline by five per cent. Fitch had earlier pr...

  Given the impact of the coronavirus epidemic and nationwide lockdown, the government has given taxpayers some leeway in terms of tax compliance. The lockdown was implemented in March this year. Therefore, the government had also announced to extend the period of filing the income tax returns of the previous financial year with the investment deadline for taxpayers eligible to receive tax exemption for FY 2019-20. Along with this, companies have also been given exemption in the deadline to issue Form-16. It is noteworthy that Form-16 is required to fill the income tax return.   In such a situation, you need to look at the important dates for filing income tax returns this year:   1. Investment deadline for tax exemption: The government had extended the investment deadline in tax saving schemes for the financial year 2019-20 from March 31, 2020, to June 30, 2020. However, this deadline was later extended for another month. Now the period of investment in tax savi...

  The US economy has recorded the largest decline in recorded history due to the coronavirus epidemic. The US Commerce Ministry, in its second estimate for the April-June quarter released on Thursday, said the economy had plummeted 31.7 per cent. In the first estimate, the government said in late July that the US economy had fallen by 32.9 per cent in the June quarter.   The biggest quarterly decline in US economy records was in 1958. At that time the economy had fallen by 10 per cent. America has started keeping a record of GDP growth since 1947. Lockdown in the April-June quarter disrupted business activities in the world's largest economy and left millions of workers unemployed. In the first quarter of this year, the US economy declined by 5 per cent. The case of COVID-19 infection started in the US since February. According to economists, economic recovery is not expected to happen soon, as the pace of virus infection has not stopped but financial relief from the gover...

  Gold is a useful asset in deep crisis, in the current difficult global conditions, this assumption is once again being proved right. Between the COVID-19 epidemic and the geopolitical crisis, gold is again setting a record and has proved to be a better investment option for investors than other assets. Analysts believe that gold will remain high for at least one-and-a-half years amid fluctuations. Experts say, "Gold prices are rising due to uncertainty in the world market. However, despite the 'physical' demand for gold being low, investors are looking for the best alternative to the yellow metal for their savings and investment amidst 'risk'. Has claimed, but the world is not very sure about it yet. However, he believes that as positive news about the vaccine comes, investment in other assets will increase and gold will stabilize.   Gold will remain at a high level for at least one year. He says that gold is a 'boon' for investors at this time of cri...

  NITI Aayog is going to create its own Poverty Index to measure poverty in the country. It aims to reduce poverty in states in association with GMPI. In fact, due to Corona, there is a fear of about 40 crore population in the country going below the poverty level.   Due to the worsening economic conditions in the Corona period, the large population of the country is afraid of going below the poverty level. Recently, the NITI Aayog held an inter-ministerial meeting to improve the situation. UNDP was also present in this along with officials of the concerned ministry. The meeting also discussed poverty reduction and alternative reforms in the country. According to media reports, the index has to be prepared by the end of the year and the poverty situation in the states is improving. This will also improve India's rank in UNDP MPI's Global Ranking. The Indian Poverty Index aims to improve health, infant mortality, nutrition, education and standard of living. The Internationa...

  The COVID-19 epidemic in Japan, the world's third-largest economy, has severely affected consumption and trade. Due to this, Japan's economy declined by 27.8 per cent year-on-year in the April-June quarter compared to the same period last year. This is the biggest drop in Japan's economy so far.   In a report released on Monday, Japan's Cabinet Office said that the country's pre-seasonal seasonally adjusted real gross domestic product (GDP) declined by 7.8 per cent over the January-March quarter. The annual rate means that if the economy will decline at the same rate throughout the year, then what will be the rate of annual decline. Significantly, Japan's economy is stuck in recession in the January-March quarter itself.   According to Japan's media reports, the decline in Japan's economy is the biggest economic decline since World War II. But the Cabinet Office said that Japan started keeping such economic figures since 1980. The last biggest ...

  The Insurance Regulatory and Development Authority (IRDA) had allowed health insurance premiums to be paid in instalments. Thereafter, the insurance holders had the option of paying premium instalments monthly, quarterly or half-yearly. This was considered a major decision in the interest of insurance holders. However, it is now becoming expensive for the insurance holder. This is because insurance companies are levying 3-4 per cent nodal charge on premium payments through instalments.   Such an insurance company is charging a fee in the name of management. According to sources, IRDA has not fixed any limit on this fee. Despite this, many insurance companies are charging an additional 3 to 4 per cent from the insurance holder on premium payments in instalments. Insurance experts say that the insurance company may impose a nodal charge of 2 to 3 per cent to compensate for the expenses incurred on managing EMI and loss of investment potential. Nodal charge is levied to cov...

  After Amazon, the e-commerce platform, Flipkart is also going to enter the alcohol business. Flipkart has partnered with startup Diageo to deliver liquor to two cities in India (West Bengal and Odisha). According to Reuters, the agreement states that Flipkart customers will be able to order their favourite alcohol. The hip bar will then pick it up from retail outlets and then deliver. Diageo holds a 26 per cent stake in the hip bar.   According to the IWSR drinks market analysis, Flipkart and Amazon's interest in delivering liquor in West Bengal is a bold move to make inroads into the $ 27.2 billion alcohol market. The state governments of West Bengal and Odisha have said that Flipkart may be associated as a technical service provider of the Indian alcohol home delivery mobile application Diageo-supported hip bar. It is to be noted that West Bengal is the fourth most populous state in India with a population of 9 crores, while Odisha has a population of over 4.1 crores. In s...

  Gold prices have seen considerable fluctuations in recent times. Actually, there are many reasons for the fluctuations in gold prices but there are two main reasons for this. In this, if any emergency situation arises, then prices start rising. For example, gold prices in COVID-19 pandemic are at record levels. The reason for this is that gold is always considered a safe asset. Second, if everything is correct, then its prices are normal. This is seen before 2019. There are five reasons which have more impact on gold prices. Gold has been an important part of the cultural needs of Indian customers in a family or religious festive atmosphere in the country. Gold has always been a favourite as a physical asset. There are six reasons for this.   Economic uncertainty: When a crisis triggers an economic crisis, it usually affects the equity market, global trade and the financial ecosystem. Market volatility is created due to fluctuations in supply and demand. This uncertaint...

  Russian President Vladimir Putin announced on Tuesday that the health ministry's approval for the country's first coronavirus vaccine has been approved. Putin said that this Covid-19 Vaccine has already been applied to his daughter. However, he did not clarify whether he had taken the vaccine himself. Putin said, 'My daughter has also taken vaccine for this vaccine, initially she had a mild fever but now she is completely fine.' They told that my daughter is fine and feeling good. He also took part in this whole trial. After this announcement, Russia has become the first country which has claimed to have completed the work of making the vaccine. Russia has planned that this vaccine will be given first to the health workers, then to the elderly. Moscow has also talked about supplying the vaccine to many countries. Russia says it can start mass production of its Corona vaccine by September.   According to RT, this vaccine has been prepared by Gamleya Institute of Mo...

US Finance Minister Steven Mnuchin hoped the US economy would be back on track in the third quarter of the current year. He said that America is busy dealing with the Coronavirus and the economy affected by it is slowly moving towards reform. So far, more than 46 lakh cases of COVID-19 have been reported in the US while more than one and a half lakh people have died due to infection. The US has suffered the biggest economic decline of its modern history because of the COVID-19. Because of this, America has gone five years behind in terms of economic growth.   The US economy recorded a 32.9 per cent year-on-year decline between April and June. Mnuchin said, 'Coronavirus has badly affected our economy and there is no fault of anyone in it. The virus came from China and they should have been warned about it first. US President Donald Trump's government has been constantly accusing China of not alerting the world about the virus. However, China continues to deny these allegatio...

Due to the lockdown implemented in the country due to Corona, people are facing many problems. In view of this, the government changed the last dates of several financial operations. The last date for these operations was extended until 31 July. In such a situation, if you have not done these tasks till now, then you must definitely tackle them by July 31, otherwise, you may have problems. We are telling you about these works.   In order to get a tax exemption, the Income Tax Department had extended the last date of filing ITR from 31 July to 30 November for the investment fiscal 2019-20. At the same time, to save tax, the deadline for investing under Section 80C, 80D, 80E of income tax was extended till 31 July. If you have not invested anywhere yet for tax saving, do it as soon as possible.   Submit Form 15G / 15H, Form 15G / 15H is filled to avoid TDS deducted on income tax. Due to the coronavirus lockdown, the government has extended its date to 31 July 2020. Form ...

Cipla has been approved by The Drug Controller General of India to sell anti-COVID-19 drug favipiravir for the treatment of corona-virus, Cipla said India as corona-virus infections in the world's third position at this time. The Indian regulatory permitted Cipla accelerated approval to produce and marketing favipiravir in an effort to meet the unmet need for COVID-19 treatment options in the country, the company said. And the other hand other drug company which include Glenmark Pharmaceuticals are racing to supply generic versions of favipiravir, originally developed by Japan's Fujifilm Holdings for treating influenza.   India reported over 48,916 fresh cases of the novel coronavirus with 757 new deaths on Saturday, the total number of coronavirus infections in India crossed the 13 lakh-mark to reach 13.36.861, marking the biggest daily surge in cases, as officials in some states complained of shortages of vital drugs for those hospitalized.   Cipla said that it will ...

The Pension Fund Regulatory and Development Authority (PFRDA) said on Friday that NPS account holders would be allowed partial withdrawals for treatment-related expenses of COVID19. PFRDA said in a letter addressed to all shareholders and account holders under the National Pension Scheme (NPS) that in view of the decision of the Government of India, under which COVID19 has been declared an epidemic, COVID19's decision to declare critical illness Has been done, which is mortal. The PFRDA has stated in the letter that the account holders will be allowed partial withdrawal for the treatment of the disease. This permission will be given for the treatment of account holders, their spouse, children, dependent parents if needed. PFRDA has clarified that partial withdrawal facility will not be available to the account holders of Atal Pension Yojana Scheme (APY Pension). PFRDA said that we would like to clarify that at present there is no provision for partial withdrawal of...

In a key detail amid the lockdown caused by COVID19, the People's Bank of China has bought a one per cent stake in India's major debtor Housing Development Finance Corporation (HDFC). According to the information given to BSE, China's central bank acquired about 1.75 crore shares of HDFC in the March quarter. This development has come at a time when HDFC shares have fallen drastically. HDFC shares have fallen by more than 25 per cent in the last one month due to the worldwide spread of coronavirus infection. HDFC shares closed at Rs 1701.95 per share on the BSE on the last day of the trading week on Friday. After this share purchase, the share of foreign portfolio investment in HDFC has increased to 70.88 per cent. The Singapore government also holds a 3.23 per cent stake in it. People's Bank of China has bought stakes in many companies around the world. It also includes large companies such as BP PLC and Royal Dutch Shell PLC. While the market too...

The country is struggling with a coronavirus (COVID-19) infection. Meanwhile, the government on Tuesday provided a big relief for the common man. Finance Minister Nirmala Sitharaman held a press conference after discussing the current situation with the Finance Ministry officials. During this, he said that a relief package for the industries facing the crisis will be announced soon. Made a big announcement for the common man as well. Nirmala said- for the next three months there will be no charge on withdrawing money from any ATM. Apart from this, the condition of keeping a minimum balance in bank accounts has also been abolished. The Finance Minister said that the date for filing ITR returns and linking PAN-Aadhaar has also been extended till June 30. The interest charged on delayed payment of TDS has been reduced from 12% to 9%. The last method for filing income tax for the financial year 2018-19 was extended till June 30. The dispute also ext...

Fearing the spread of coronavirus (COVID-19), the country's markets opened with a sharp decline. Due to which the lower circuit had to be installed within the market within the first half an hour. BSE slipped 10% or 2991.85 points to reach 26,924.11. Similarly, the Nifty moved 9.63% or 842.45 points down to 7,903. However, when the market resumed trading 45 minutes later, the decline further increased. Today, the Sensex fell 3,934.72 points to 25,981.24 and the Nifty closed 1,135.20 points down at 7,610.25. Earlier, on March 13, the market also had a lower circuit. However, recovery was also done that day. 3 reasons for market falls 1. Due to the spread of coronavirus (COVID-19) infection, many states of the country have been locked-down till 31 March. 2. Foreign investors are continuously withdrawing money from the Indian market. They have sold shares worth Rs 50,000 crore in about two weeks. 3. Markets worldwide are declining due to fear of spreadi...