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Covid-19 hangs over the future like a spectre: RBI report
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MUMBAI : The Reserve Bank of India on Thursday refused to give an outlook on domestic growth even as the global economy is expected to slump into recession in 2020.
In its bi-annual monetary policy report, RBI said that macro econmic risks brought on by the covid-19 outbreak looks severe, the outlook would depend on the intensity, duration and spread of the pandemic .
The impact of the pandemic comes at a time when the economy was just at the turn of a recovery, “but Covid-19 now “hangs over the future, like a spectre," it said.
The pandemic is expected to impact economic activity in India in several ways. The domestic lockdown and the second round effects operating through a severe slowdown in global trade and growth could slowdown
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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