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  After 1930, the whole world is now going through the worst phase of the economic recession. Also, the coronavirus is proving to be the most destructive to poor and developing countries. These information has been given by the World Bank.   World Bank President David Malpass said that the biggest problem facing the countries of the world is the reopening of schools. However, the World Bank is encouraging countries of the world to spend on education, social and health programs. He told to journalists that the risk of risk in many countries is increasing in the economic slowdown. David Malpass said that this COVID-19 recession is very deep. This is creating more trouble for those who are economically week. The World Bank is working on a most major development program for the countries. It is expected in this fiscal year.   The Board of the World Bank had approved the expansion of the Health Emergency Program. Under this program, $ 12 billion will be spent on the va...

America's leading general-interest magazine Town & Country has included   Nita Ambani and   Reliance Foundation in its list of top philanthropists of 2020 in its summer issue. He has been bestowed with this honour for helping in combative action by preventing the coronavirus epidemic. The magazine's cover story states that Ambani has played a leading role in the Reliance Foundation's efforts to feed the poor and labourers, make financial contributions and establish the country's first COVID19 hospital. Nita Ambani is the only Indian in this list of top philanthropists. The list also includes celebrities like Tim Cook, Oprah Winfrey, Lawrence Powell Jobs, the Louder family, Dontella Versace, Michael Bloomberg, Leonardo DiCaprio. Town & Country is America's leading lifestyle magazine. It is the oldest continuously published magazine in the US. It has been published since 1846. Every year an entire issue of this magazine is devoted to the Philan...

The Income Tax Department has released the Income Tax Return Form (ITR Form) for the financial year 2019-20. For this, the government has also issued a notification. The last date to fill the ITR form for the financial year 2019-20 is 30 November. The department has issued 7 different forms this time. These include ITR-1 (Sahaj), ITR-2, ITR-3, ITR-4 (Sugam), ITR-5, ITR-6, ITR-7 and ITR-V (verification) forms. The Income Tax Department had earlier withdrawn Form 1 and Form 4 to include changes in tax rules due to the COVID19 epidemic. The Income Tax Department has given information about the new forms by tweeting. Taxpayers will have a separate space in each ITR form to provide details of expenses or investments made during the quarter ended 30 th   June. Add caption Who else has to fill the ITR form? ITR 1 Form: Citizens with an income up to Rs 50 lakh can fill this form. This includes income from salary, a house and interest. ITR 2 Forms: ITR 2 F...

The Reserve Bank of India (RBI) made several announcements on Friday to accelerate the sluggish economy due to the Corona transition. Giving details of the measures in a press conference, RBI Governor Shaktikanta Das said that the period of loan moratorium (deferment for repayment of a loan) is being extended by three months. The RBI governor said that the global economy has been affected badly due to the Corona infection. Due to this, the income of the common man has also been affected. In view of this, the EMI payment exemption period is being extended until August. That is, now borrowers will not have to pay EMI till 31st August. However, this facility is voluntary and if one wishes to pay EMI, he can. The RBI has barred all commercial, regional, rural, NBFC and small finance banks from recovering EMIs of all types of term loans. Postponing the payment of EMI will not affect the credit score of the common man. The RBI has stated that the moratorium period will not b...

India Ratings and Research (Ind-Ra), a Fitch group company further reduced its estimate for India's gross domestic product (GDP) growth rate to 1.9 per cent for 2020-21. Earlier in the year 1991-92, India's GDP growth was recorded at 1.1 per cent. In a note released on Monday, the agency changed its estimate of 3.6 per cent GDP growth announced on March 30 to 1.9 per cent. The agency's chief economist Sunil Kumar Sinha said, "This an estimate is based on the assumption that the partial lockdown will continue till mid-May." The entire lockdown due to COVID19 is scheduled to end on 3 May. However, experts want it to continue in the hotspot for some more time. The agency's estimates suggest that GDP could return from the third quarter of the year 2021 (October – December 2020) to the level of the fourth quarter of the year 2020 (January – March 2020), if the second quarter of the year 2021 The resumption of normal economic activities during (...

Due to coronavirus (COVID-19) infection, the growth rate in the Asia region in the calendar year 2020 will be 0%. This growth rate is the lowest since 1960. This estimate has been made by the International Monetary Fund (IMF). In a virtual press conference on Wednesday night, Changyong Rhee, director of the Asia and Pacific Department of the IMF, said that such a crisis has never happened before. It is worse than the global financial crisis and Asian countries have nowhere to go about it. Rhee said that the growth rate in the region in 2020 is likely to be the worst in 60 years. The region has grown at a growth rate of 4.7 per cent during the global financial crisis and 1.3 per cent during the ASEAN financial crisis. However, he said that Asia has better conditions than other areas in terms of the Act. The new World Economic Outlook released on Thursday by the IMF predicts the global economy to shrink sharply to 3 per cent in 2020. The World Economic Outlook states that t...

The International Monetary Fund (IMF) fears that this year the global economy is looking to be caught in the biggest economic slowdown of the last century. IMF MD Kristalina Georgieva said on Thursday that more than 170 countries are expected to have a negative increase in per capita income this year due to the Corona epidemic. According to him, due to Corona epidemic, this year's global economic recession may be the most dangerous after the Great Depression of 1929. Speaking on the topic 'Coping with Crisis: Priorities of the Global Economy' ahead of the important meeting of the IMF and World Bank next week, Georgieva said that the world is currently facing its most serious challenge. COVID19 has put a thunderbolt on social and economic systems like we had never seen before. According to him, tens of thousands of people have lost their lives due to this virus and the lockdown imposed to avoid it has affected the livelihood of crores of people. Significant...