Wealth in India
As per a report by Swiss bank Credit Suisse, Household wealth in India, more than doubles to $12.6 trillion in 2019.
IMF Quota System
The IMF members delay quota changes and agree to maintain funding.
Forex Reserves
The foreign exchange reserves hit an all-time high of $439.7 billion for the week ended October 11.
MPC sees further slowdown in growth
The Monetary Policy Committee(MPC) has shown a concern over the growth slowdown.
FMCG and Rural Growth
The rural growth has fallen below that of urban for the fast-moving consumer goods (FMCG) industry.
IMF Cuts India’s growth Rate
The International Monetary Fund cut its estimate for India’s growth this year to 6.1% from 7% projected in July.
Nobel Prize in Economics
The Royal Swedish Academy of Sciences has decided to award the 2019 Nobel Prize in Economics to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”.
Rythu Bharosa scheme
The Andhra Pradesh government is set to launch its flagship ‘Rythu Bharosa’ scheme.
World Bank cuts India’s growth projection
According to the latest World Bank projections, India’s growth rate is projected to fall to 6%.
Industrial Output shrinks
India’s industrial output shrank at its fastest rate in more than six years in August to 1.1%.