Page 1 - CanIndia News - October 15, 2021 - NO: 22 VOL: 42
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Vol: 22  No: 42  § October 15, 2021         #CanIndiaNews

         India continues to be

         the fastest growing

         economy: IMF

        NEW YORK, NY             release of the report in  pressures from any future
                                 Washington, Gopinath said:  pandemic upsurge.
          India has emerged from a  "India came out of a very,  "We think that there's still
        "very tough second wave" of  very tough second wave and  room to provide more
        COVID-19, Gita Gopinath,  that led to a big downgrade in  support if needed, if the
        the International Monetary  July but we have no change."  pandemic takes a turn for the
        Fund's   (IMF)    Chief   "India is doing well in  worse, and to provide it in a
        Economist, said on Tuesday  terms of vaccination rates  targeted manner to the worst
        at the release of the flagship  and that's certainly helpful,"  affected households and
        report that showed India  she said.              firms," he said.          THE COUNTRY’S GROWTH RATE IS PROJECTED TO BE 9.5% THIS YEAR AND 8.5% IN 2022
        continuing to be the world's  India does, however, face  "But going forward over the
        fastest  growing  major  many challenges, she noted.  medium term, it would be  followed India with eight per  in 2021 and 4.9 per cent in  weakened, hobbled by the
        economy clocking a growth  "As of now, you know there  important to put in place,  cent this year and 5.6 per cent  2022 -- 0.1 percentage point  pandemic."
        rate of 9.5 per cent this fiscal  are many challenges that the  credible,  medium  term  the next -- a reduction of 0.1  lower for 2021 than in the  She wrote about the global
        year and 8.5 per cent in the  Indian economy always does  strategy to bring down the  per cent for both years from  July forecast.  picture: "Fuelled by the
        next.                    face with regard to the  debt to GDP ratio and create  the forecast made in July.  The WEO said: "The  highly transmissible Delta
          The    IMF's   World   financial market, with regard  space to meet the future  The UK came next with 6.8  downward revision for 2021  variant, the recorded global
        Economic Outlook (WEO)   to the fact that the virus has  development needs and  per cent growth this year,  reflects a downgrade for  COVID-19 death toll has
        report  kept  the  gross  not gone yet," Gopinath said.  infrastructure needs," he  followed by France at 6.5 per  advanced economies -- in  risen close to 5 million and
        domestic product (GDP)    Asked if the large fiscal  added.               cent, and the US at six per  part  due  to  supply  health risks abound, holding
        growth projections it had  deficit in India was a major  The WEO said that India's  cent.          disruptions -- and for low-  back a full return to
        made in July while India was  concern, Malhar Nabar, the  COVID-battered economy  Canada’s growth for 2021 is  income developing countries,  normalcy.  Pandemic
        in the grip of COVID-19's  Deputy Division Chief in  had shrunk by 7.3 per cent in  forecast at 5.7 per cent (down  largely due to worsening  outbreaks in critical links of
        second wave and had cut by 3  IMF Research Department,  the last fiscal year.  from 6.3 per cent in July) and  pandemic dynamics."  global supply chains have
        per cent its forecast of 12.5  said that while a medium-  Its long-term forecast for  4.9 per cent for next year (up  Gopinath, in her foreword  resulted in longer-than-
        per cent made in April before  term strategy was needed to  India's GDP growth is 6.1 per  from 4.5 per cent in July).  to the WEO, said: "The
        the pandemic's resurgence.  bring it down, it was still  cent in 2026.     The global economy is  global recovery continues but
          Briefing reporters at the  possible  to  meet  the  In the WEO tables, China  projected to grow 5.9 per cent  the  momentum  has  SEE IMF OUTLOOK, P.9

          Applications open for Mississauga-Malton Youth Council

          MISSISSAUGA            MMYC is an open, non-   Parliament, MPP Anand   per week. Meetings will be  Unemployment
                                 partisan platform for youth  and work together with  virtual and in-person with
           Are you a motivated   15-25 years old who live,  him to tackle these issues.  all COVID-19 guidelines in
          young  individual  who  work or attend school  They will also learn about  place.               rate falls again
          wants to make a tangible  within Mississauga-Malton  Ontario’s Parliament and  Applications must be
          impact in the community?  make an impact in their  different  areas  under  submitted  by  Friday,
           The Mississauga-Malton  local  community  and  provincial jurisdiction as  November 5, 2021 at 11:59  OTTAWA           pandemic level.
          Youth Council (MMYC) is  support fellow youth.   well as gain valuable  pm.                                               Employment   in   the
          back for its third year and is  The youth council will  leadership and teamwork  Call 905-696-0367 or  Canada's unemployment  services-producing sector
          officially    accepting  allow young individuals to  skills and earn volunteer  email            rate continued its downward  surpassed its pre-Covid level
          applications for council  bring  their  concerns  hours.               [email protected]  trend, falling 0.2 percentage  in  September,  while
          members!               directly to their elected  Estimated weekly time  rg  for    additional  points to 6.9 per cent in  employment in the goods-
           Established in 2019, the  Member  of  Provincial  commitment is two hours  information.        September 2021, the lowest  producing sector remained
                                                                                                          rate since the onset of the  3.2 per cent below its
                                                                                                          COVID-19     pandemic,  February 2020 level.
         Cinemas, theatres                                                                                Statistics Canada said last  up 1.1 per cent but were 1.5
                                                                                                                                    Total hours worked were
                                                                                                           Canada's  jobless  rate  per cent below their pre-
         and stadiums return                                                                              declined for the fourth  pandemic level.
                                                                                                                                    The number of people
         to 100% capacity                                                                                 September, Xinhua news  working from home was 4.1
                                                                                                          agency reported.
                                                                                                                                  million in September, down
                                                                                                           Employment returned to  from 5.1 million in April
                                 administered,      our                                                   its February 2020 level in  2020.
         CI News Service         government is cautiously                                                 September, increasing by
         [email protected]
                                 lifting capacity limits in select                                        157,000, or 0.8 per cent. The
                                 settings where we know proof                                             employment rate was 60.9   SUBSCRIBE to
        TORONTO                  of vaccination requirements                                              per cent, 0.9 percentage
                                 are providing an added layer of                                          points  lower  than  in   canindia news
          The province has lifting  protection to Ontarians,” said                                        February 2020.
        capacity limits in select indoor  Deputy Premier and Health                                        The     labor    force   10 Weeks  -  $15.00
        and    outdoor  settings  Minister Christine Elliott. “The                                        participation rate was 65.5  50 Weeks  -  $75.00
        including cinemas, sports and  fight against COVID-19 is not                                       per cent in September,           CALL
        concert venues where proof of  over and we must all remain  Limits have been lifted to  training)  matching the rate observed
        vaccination is required, as well  vigilant by continuing to follow  allow 100% capacity in the  Meeting and event spaces  in February 2020.  905.673.6625 Ext. 2
        as certain outdoor settings  the public health measures we  following settings:  (indoor meeting and event  The numbers of public-  EMAIL
        that have a capacity below  know work and keep us safe,  Concert venues, theatres and  spaces will still need to limit  and  private-sector  [email protected]
        20,000.                  and receiving your first or  cinemas             capacity to the number that  employees were at or above   MAIL
          “As we continue to see more  second dose of the COVID-19  Spectator areas of facilities         February 2020 levels, while   CanIndia News
        Ontarians roll up their sleeves  vaccine if you have not already  for sports and recreational     self-employment remained    478 Dundas Street West
        with over 22 million doses  done so.”            fitness (not gyms and personal  SEE CAPACITY LIMITS, P.3  8.4 per cent below its pre-  P.O. Box 30003 Oakville ON L6H 7L8
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