write a brief note on the present economic scenario of the world
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Answer:
The world economy or global economy is the economy of all humans of the world, considered as the international exchange of goods and services that is expressed in monetary units of account.
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❥With an improvement in the economic scenario, there have been investments across various sectors of the economy. The mergers and acquisition (M&A) activity in India stood at US$ 28 billion in 2019, while private equity (PE) deals reached US$ 48 billion. Some of the important recent developments in Indian economy are as follows:
❤Merchandise export and import (in US$ terms) declined by 4.8 per cent and 9.1 per cent, respectively, in 2019-20.☞︎︎︎Nikkei India Manufacturing Purchasing Managers’ Index (PMI) stood at 30.8 in May 2020, showing contraction in the sector because of coronavirus-related restrictions.
❤Gross tax revenue stood at Rs 15.04 lakh crore (US$ 215.28 billion) in 2019-20 – income tax collection contributed Rs 4.80 lakh crore (US$ 68.14 billion) to it..☞︎︎︎In 2019, companies in India raised around US$ 2.5 billion through 17 initial public offers (IPO).
❤India's Foreign Direct Investment (FDI) equity inflow reached US$ 469.99 billion between April 2000 to March 2020, with maximum contribution from services, computer software and hardware, telecommunications, construction, trading, and automobiles.
❤India’s Index of Industrial Production (IIP) for 2019-20 stood at 129.2.
❤The combined index of eight core industries stood at 137 in March 2020. Its cumulative growth was 0.6 per cent in 2019-20.
❤Consumer Price Index (CPI) – Combined inflation was 5.9 per cent in March 2020 as compared to 6.6 per cent in February 2020. The annual consumer price inflation increased to 4.8 per cent in 2019-20 from 3.4 per cent in 2018-19.
❤Around 12 million jobs in a year were created in India during 2015-19.
❤India improved its ranking in World Bank's Doing Business Report by 14 spots over last year and was ranked 63 among 190 countries in the 2020 edition of the report☞︎︎︎India is expected to have 100,000 start-ups by 2025, which will create employment for 3.25 million people and generate US$ 500 billion in value as per Mr T V Mohan Das Pai, Chairman, Manipal Global Education.
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