India second worst-hit major economy in Q2; UK tops the list : Bulletin: Business Today
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India second worst-hit major economy in Q2; UK tops the list

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Vivek Punj | November 28, 2020

India second worst-hit major economy in Q2; UK tops the list

India has been the second worst performer among major economies during July-September quarter as COVID-19 pandemic continued to impact businesses. India's GDP fell 7.5 per cent during the September quarter, albeit much slower than the 23.9 per cent decline registered in the June quarter, signalling a rebound.

India's GDP contracts 7.5%, sequential growth at new high of 23.2%

While the economy contracted for the second successive quarter, declining 7.5 per cent year-on-year, there was something to cheer about. The GDP grew at 23.2 per cent sequentially signaling a gradual recovery ahead. This also remains the best quarter-on-quarter growth since 1996 when the country started giving out quarterly numbers.

Ready to discuss all issues with farmers, says Narendra Tomar

Appealing to protesting farmers to end their agitation, Union Agriculture Minister Narendra Singh Tomar said the government is ready to discuss all issues with them. After braving water cannons and clashing with security personnel, thousands of farmers started entering the national capital on Friday as part of their 'Delhi Chalo' march against the Centre's new farm laws.

COVID-19 impact: Disney to lay off 4,000 additional employees

The Walt Disney Co. announced plans to lay off 4,000 more employees largely due to the effects of the COVID-19 pandemic. The announcement by the company was made in a U.S. Securities and Exchange Commission filing earlier this week, saying 32,000 employees at the parks, experiences and products division will be terminated in the first half of fiscal year 2021, which began last month.

Speed of economic recovery a 'pleasant surprise'; manufacturing shows positive growth: Niti Aayog VC

Niti Aayog Vice Chairman Rajiv Kumar termed the speed of India's economic recovery as a "pleasant surprise" and said manufacturing shows a positive growth that confirms a rebound. India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.

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