INDUSTRY STRUCTURE AND DEVELOPMENTS Sample Clauses

INDUSTRY STRUCTURE AND DEVELOPMENTS. The global economies are facing a synchronized slowdown, resulting from a variety of factors affecting the world. The outbreak of coronavirus 2019 (COVID19) has globally disrupted people’s lives, interrupted businesses and jeopardized decades of development and progress. To add to the existing issues, the pandemic outbreak and the resultant lockdown and containment measures initiated by the authorities has worsened the economic environment. This has forced policy makers to take extreme steps in the form of huge fiscal stimuli to encourage economic activity. With the existing slowdown visible across the globe, the pandemic is expected to have severe consequences on the world economy leading to lay-offs, reduction in capex by companies and delay in discretionary purchases. The Indian economy decelerated sharply in the fourth quarter of FY 2019-2020 at 3.1%, lowest in almost 17 years, after growing at 4.1% in Q3 FY 2019-2020. With the lockdown scenario, consumption and investments are expected to be severely impacted in the first quarter of FY 2020-21. RBI has cut the repo rate by 40 bps to 4.0% in May 2020, which is the lowest ever and rolled out a range of measures to preserve financial stability and counter the economic impact of COVID19. The historical corporate tax cuts introduced in September 2019 are expected to encourage domestic and foreign private investments in the long run. Also, the alternative tax regime introduced in the latest budget is expected to increase household disposable income, thereby boosting private consumption, and potentially expanding the tax base. FY 2019-2020 inflation stood at 4.8%, below the RBI’s upper target limit and is expected to fall further in the current year with declining crude prices and slump in domestic demand, making the rate cuts more favorable.
Sample 1
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