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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...

  The Pradhan Mantri Garib Kalyan Package Insurance Scheme, extended for 90 days on March 30, has been extended to help health workers fight the coronavirus. The plan has been extended for 90 days. This information has been received from a government release. The plan was brought for all those providing health facilities, including community health workers, who come in direct contact with and care for Corona patients. Such people are at very high risk of getting infected.   A Prime Minister's release said, 'Pradhan Mantri Garib Kalyan Package Bima Yojana was launched on March 30, 2020, for a period of 90 days for health workers fighting the Coronavirus. This plan has been extended for the next 90 days. The Ministry of Health and Family Welfare has collaborated with the New India Assurance (NIA) Company Limited to provide insurance money based on the guidelines formulated for the scheme.   The scheme provides an insurance cover of Rs 50 lakh to people providing hea...

  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...

  The US is giving tensions to the dragon one after another due to a deteriorating relationship with the coronavirus. Now the Trump government can pull China out of the US Dollar Payment System (SWIFT) or cut its access. According to the Chinese newspaper South China Morning Post, Beijing is under tension regarding this possible move by the US.   The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a network used by banks around the world to report and receive financial transactions. It is a part of the infrastructure that makes the US dollar play an important role in international trade and investment.   Globally, banks have communication links with US banks, through which they conduct US dollar transactions. Through this payment system, White House can order US banks to stop transactions from any individual, institution or countries. The ruling Communist Party of China, which has surrounded the world about Xinjiang and Hong Kong, is in tens...

  India is considered to be the world's fastest running economy. Not only the leader of India but all the economic agencies of the world also say the same. There has definitely been a loss in the Corona era. Which shocked PM Narendra Modi's dream, which he had seen in January 2018 and said in an address to the entire nation at an event, to make the country a 5 trillion dollar economy by 2025, After which all the ministers of the country have been praising this. On the other hand, a smartphone maker company of America is continuously moving forward, beating the pace of Indian economy. The American company Apple has become a 2 trillion-dollar company. The special thing is that when PM Modi talked about the 5 trillion economies, Apple was not even a trillion-dollar economy. Today India has not even reached 3 trillion and Apple has reached the mark of two trillion. If this continues, Apple will become an economy of 5 trillion before India.   Apple's market cap in January 20...

  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 ...

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 ...

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...

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...