ADB cuts India’s FY21 contraction forecast to 8% on back of faster recovery

The (ADB) on Thursday upgraded its forecast for the Indian economy, projecting 8 per cent contraction in 2020-21 as compared to 9 per cent degrowth estimated earlier, on the back of faster than expected recovery.

Observing that the economy has begun to normalise, the Asian Development Outlook (ADO) Supplement said the second quarter contraction at 7.5 per cent was better than expected.

The economy contracted by 23.9 per cent in June quarter of the current fiscal on account of the impact of the coronavirus pandemic.

“The forecast for FY2020 is upgraded from 9.0 per cent contraction to 8.0 per cent, with in H2 probably restored to its size a year earlier. The growth projection for FY2021 is kept at 8.0 per cent,” it said.

Highlighting that India is recovering more rapidly than expected, the report said the earlier South Asia forecast of 6.8 per cent contraction is upgraded to (-)6.1 per cent in line with an improved projection for India.

Growth will return in 2021-22, at 7.2 per cent in South Asia and 8 per cent in India, it added.

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Review panel asks vaccine makers to submit more data to get authorisation

The wait for the Covid-19 vaccine just got a bit longer for India as two key players were told on Wednesday that their clinical trial data was inadequate for a fast-track approval. At a virtual review meeting, spread through the day, the subject expert committee (SEC) asked vaccine makers International (BBIL) and (SII) to come back with more data for getting an accelerated marketing authorisation.

The expert committee, which is advising the Drug Controller General of India (DCGI) on the matter, flagged several concerns such as why the AstraZeneca vaccine, with which Serum Institute has a tie-up, has not yet been approved in its home country UK. The panel, comprising specialists in diverse medical fields, also sought details of causal relationship analysis of the serious adverse event of the Chennai participant in the Serum trial. Bharat Biotech, which was equipped with only phase 1 and 2 data, were asked to get back once they had sufficient efficacy data from phase 3 trial.

Experts have pointed out that Serum did not have complete immunogencity data from the phase 3 trial on 1,600 persons. Immunogencity data refers

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Buying shares vs. Trading CFDs: what is the difference?

When it comes to buying shares, you are either an investor or a speculator. An investor holds a piece of stock for the long term while a speculator capitalises on short term volatility.

Both the investors and the speculators aim to make money depending on the accuracy of their predictions.

As Warren Buffet, the world-renowned value investor puts it, investing is a long term game. When you invest in a piece of common stock, you are investing in the issuing company. Consequently, your eyes should be on the fundamentals of the company, including its long term growth plan.

However, in speculation, your focus is the short-term price movements resulting from the forces of demand and supply. Speculators can try to make money in both the rising and falling markets depending on their strategy.

How to speculate on shares

You can speculate on shares by buying low and selling high or through what is known as short-selling. In short selling, the speculator borrows the stock they believe will decline in price from the broker and sells it at the current rate. They then have to wait for the prices to go down after which they repurchase the stock and return it

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