More than 106,000 people have been infected by the coronavirus across the world and at least 3,600 have died as the disease upturns a modest growth in the world economy since mid-2019 and threatens key sectors of India's economy where some see a “silver lining” in China practically shutting down.
Multilateral lending agencies, like the World Bank and the International Monetary Fund (IMF), estimate that the coronavirus will have a long-term impact on global economic growth.
The Asian Development Bank (ADB) estimates that the world's gross domestic product (GDP) could reduce by 0.1%-0.4%, noting that financial losses could range from $77 billion to $347 billion. Growth in China could reduce by 0.3% to 1.7% and in developing Asia, excluding China, by 0.2% to 0.5%, the ADB said in an analysis outlining best- and worst-case scenarios.
The Organisation for Economic Cooperation and Development (OECD), the influential think tank, reckons this year world economy may grow at its slowest rate since 2009 because of the coronavirus.
The OECD has forecast a 2.4% growth for the world economy in 2020, down from 2.9% in November. A longer "more intensive" outbreak could halve growth to 1.5%, it said.
The IMF has promised $50 billion and World Bank $12 billion to fight the disease and its impact.
India: risks a lot, gains some
India's economy hasn't caught the bug but if the coronavirus crisis persists worldwide its plans to revive growth could be disturbed.
India's gross domestic product (GDP) growth fell to an unprecedented 27-quarter low of 4.7% in the quarter ended December 2019 (with the previous quarter’s growth having been corrected) due to contraction in investment and manufacturing output for two successive quarters. GDP growth is set to stagnate at 4.7% in the March quarter (Q4) too, according to the annual estimate by the National Statistical Office (NSO).
According to the United Nations Conference on Trade and Development (UNCTAD), India could lose $348 million in trade because of the coronavirus. India figures among UNCTAD's top 15 economies most affected by the slowdown in manufacturing in China.

India's chemicals sector could lose $129 million, textiles and apparel $64 million, automotive $34 million, metals and metal products $27 million--to list just some businesses.

YES Bank plans to raise Rs 20,000 crore through certificate of deposits

Currrent Affairs
Sickly private loan specialist YES Bank will hit the market with authentication of stores (CDs), a currency advertise instrument, to raise up to Rs 20,000 crore from institutional players, for the most part banks.
This is the principal huge scope (present moment) raising money exertion by the bank subsequent to being rescued under a remaking plan.
Rating office CRISIL has allocated 'A2' rating to the Rs 20,000 - crore CDs program of YES Bank.
The instruments conveying this rating are considered to have solid level of wellbeing in regards to opportune installment of money related commitments. Such instruments convey low credit chance, CRISIL said in an announcement.
The rating factors in the desire for proceeded with uncommon foundational support from key partners, alongside sizeable responsibility for Bank of India (SBI).
Truly Bank saw a consistent surge of stores in the previous scarcely any quarters given the difficulties looked by it and the antagonistic news reports concerning the bank.

Between December 31, 2019, and March 5, 2020, the store base contracted by around Rs 28,000 crore. Since March 31, 2018, the store base has declined by over Rs 63,000 crore. All things considered, the bank included contributors even in late quarters….Read More

MSE sentiment down for the third quarter in a row: CRISIL-SIDBI survey

Current Affairs
Hit by a drawn out financial droop, the business opinion among smaller scale and little undertakings (MSEs) slid pointedly to 106 in the quarter finished September 30, from 120 in the April-June quarter, as indicated by CRISIL-SIDBI study (CriSidEx).
The perusing on the file for January-March 2019 was 122; it was 128 in the October-December 2018 quarter and 124 in the July-September 2018 quarter. Amish Mehta, head working official, CRISIL, said the discoveries for the September 2019 quarter should be seen with regards to macroeconomic variables, for example, generation cuts via vehicle makers affecting usage of parts.
There was likewise a decrease in both volume and acknowledgment in item connected divisions, for example, steel, and a log jam in utilization, affecting pearls and adornments industry and lodgings, he said. The study demonstrated the desire from the following quarter — October-December — is higher than genuine estimation in the quarter in center. The distinction between perusing for the December 2019 quarter (129) and the genuine (106) is greatest, up until now.
The generation and limit use is probably going to stay stable the following quarter as 28 percent of members from assembling MSEs anticipated an expansion underway, 65 percent saw it as unaltered, and 7 percent anticipated that it should be lower.

Contracting was quieted as just 7 percent of the MSEs detailed increases to their representative base in SQ8, contrasted and 16 percent in SQ7, while 87 percent kept up the base and 6 percent announced decreases. Loan specialists have a worse than average point of view toward the business circumstance...Read More

Employee base is biggest cause of moderation in biz sentiment: Report

Economy News

The sentiment among micro and small enterprises (MSEs) got subdued in the March quarter, the sixth CriSidEx survey has shown. The CriSidEx score for January-March 2019 (Q4FY19) was 122, improving only by a unit, from 121 in Q4FY18.
These findings are in consonance with a moderation in several high frequency indicators, including the index of industrial production and rural consumption, observed in the first half of calendar year 2019.
Negative sentiment grew in terms of employee base in both manufacturing and services sectors, the report said. Positive sentiment rose in terms of order books size and profit margins year on year, it added.
However, this is likely to change, with 18 per cent respondents planning to add employees in the next quarter compared with 11 per cent in the previous one, said the report, released jointly by CRISIL and Small Industries Development Bank of India (Sidbi).
Services started from a lower base saw sentiment grow fast in FY19, and converged with manufacturing that saw ups and downs in positive sentiment in Q4, authors of the report told Business Standard.

 “MSEs operating in the leather, chemicals, pharma, IT/ITeS, and human resources segments reported a noticeable increase in positive sentiment, while those into gems & jewellery, textiles, auto components, and health care had a relatively subdued outing,” Mohammad Mustafa, chairman and managing director, Sidbi, said in a release.