Old Gold May Maintain New Shine Gold is set to score the best gains in a decade this year as the pandemic and a gloomy outlook for the world economy sparked a rush towards the yellow metal, considered a safe haven in turbulent times. Volatility in other asset classes and a risk-off sentiment also attracted investors to goldDelay in approval of vaccine, fear of lockdown and fear of covid strain may create a global turbulence and positive support for gold. As the economic and social uncertainties triggered by the coronavirus pandemic turned the spotlight on gold as a safe haven.
World’s Biggest Vaccine Manufacturer In India To Get Serum Vaccine Nod India to do large-scale production and supply of coronavirus vaccines as it enters 2021. India contributes 60 per cent of the vaccine production to the world. India is going to play a vital role in equitable distribution of vaccines around the worldThe mass production will be only after it is proven efficacious and immunogenic for mass use. India’s production capacity is over 200 million doses and may increase if needed. Infrastructure for logistics and storage is will develop as the vaccines are required to stored be at specified temperature.
India Identifies As The New China Major outcome of COVID-19 is the likely shift in global supply chains away from China to other economies. India could benefit from this move and they expect a fair share of manufacturing to shift from China to India in the near future.Under the Aatmanirbhar Bharat package, the government has introduced several measures to address the immediate pain points of the economy as well as steps to improve India’s manufacturing competitiveness and now all eyes are on the upcoming Budget. This Budget is expected to be different due to an unprecedented social and economic challenge, and exuding confidence that the government will take bold steps to respond them
India To Spend On Covid Pain For Bigger Gain This year’s budget will be increased from its current 30 trillion rupees ($407 billion) when new spending plans are announced. Government’s budget gap will probably widen to 8% of GDP this year.The developments will give a boost to spending to help weather the hit from the coronavirus pandemic. Economy entered an unprecedented recession last quarter; so, the government spending is key to staving off a prolonged crisis in the nation. Potentially, India can build upon aspects such as push in rural economy and huge consumption base to put economy back on a healthy growth.
Increasing Count Of Banks Is Increasing (A)Mount Of Monies Brining efficiency to country’s finances will require new entrants and newer tech to mould old systems. While planning expenditure is a good 1st step, prioritizing it is the next needed step as spending levels were akin to H1FY20 levels, owing to curbs applied to many departments.Covid 19 is causing shockwaves across the world, with India’s GDP correction reflecting similar economic infections. Like before, reforms are being merited as economical vaccine, with individuals and institutions awaiting govt.’s Relief package 3.0 announcement.
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