Updates on Indian and Global Economy

1. According to monthly data of the Centre for Monitoring Indian Economy, at least 10 states are reporting double-digit unemployment rate. These states includes: Haryana (19.7%), Rajasthan (15.3%), Delhi (12.5%), Himachal Pradesh (12%), Uttarakhand (22.3%), Tripura (17.4%), Goa (15.4%),and Jammu & Kashmir (16.2%)
2. Besides these states, Bihar has an employment rate of 11.9%, West Bengal (9.3%) and Punjab (9.6%).
3. According to a report by RBI published on 20th Oct 2020, mutual funds in India saw their net foreign liabilities drop by 18%  to $ 9.6 bn in FY20. A major cause of this drop may have been the result of the decline in the value of investments from non-residents indians (NRIs) in March, after the covid-19 outbreak hit the markets. The foreign liabilities of mutual funds fell from $12.4 bn in March 2019 to $9.6 bn in March 2020.
4. Finance Minister of India Nirmala Sitharaman has urged the central public sector enterprises (CPSEs)to achieve 75% of their planned capital expenditure (capex) target for FY21 by December to support economic growth impacted by the covid-19.
5. Depite economic slow down due to covid-19 pandemic, India experience a surge in its FDI inflows. Total FDI inflows surged from $11.51 bn between April and June to $35.73 bn by the end of August 2020.Equity FDI has quadrupled from $6.5 bn between April and June to $27.1 billion by August.
6. China is the only major economy of the world to register economic growth in a pandemic hit year. Accrding to official Chinese data released on 20th Oct 2020, China GDP growth is expanding in the 3rd quarter at 4.9% from a year earlier in the july-Septenber period.