UK will need to cut 200,000 jobs to avoid debt spiral
The IFS said about 100,000 job cuts this year would ensure the overall wage bill was unchanged, and avoid cuts elsewhere in departments. If pay increases with inflation in 2023, the government would need to cut another 100,000 jobs to keep the bill in check
India's GDP growth to decline to 5.7% in 2022: UNCTAD
India's GDP will further decelerate to 4.7 per cent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022.
ICT services export, market sophistication helps India to move up in Global Innovation Index
India jumped six spots to be ranked 40th in this year’s edition of the index.
Agriculture sector and rural demand remain resilient: RBI Governor Shaktikanta Das
“The private sector has been holding up. Rural demand is also gaining gradually, investment demand is picking up...the agricultural sector remains resilient,” Shaktikanta Das said.
ED freezes over Rs 21 cr deposits of online forex trading company OctaFX under FEMA
The action has been taken against the Indian arm of the company identified as OctaFX after the agency carried out searches against it under the provisions of the Foreign Exchange Management Act (FEMA).
India will be pillar of global economic revival: Piyush Goyal
"India is already the fifth largest economy in the world and is turbocharging its growth to become the third largest in the coming years," Goyal said.
Govt hikes DA by 4% under 7th Pay Commission; details here
The hike takes DA to 38 percent from current 34 percent.
RBI’s endgame for rupee must be a win for credibility
Managing the incidental outcomes of exchange rate policy on its interest rate policy and the economy will help the Reserve Bank of India maintain its credibility.
Why the US Fed's dot plot is spooking experts and what the latest rate hike means for India
The US Fed hiked interest rates by 75bps for the third consecutive time. While experts and the markets were expecting this one, what’s spooking them is the dot plot - which implies that there will be cumulative hikes of 125 bps over November and December. But what do these numbers mean for India, and will the RBI follow in the Fed’s footsteps?
What Is Stagflation And Is India Really At Risk Right Now? | Explained | Why Stagflation Matters
Hotter-than-expected US inflation numbers for August have thrown up several concerning trends, an important one being the risk of stagflation. But while reports suggest that the US may be on the verge of stagflation, the big question is, what does this mean for India? How relevant is stagflation for India, is India really at risk, and what would this mean for our household budgets? Watch this mini masterclass to find out!
Water begins receding in Pakistan's worst flood-hit south
The Indus River, which remained swollen until earlier this month, was now rushing at normal levels towards the Arabian Sea, according to Mohammad Irfan, an irrigation official in hard-hit Sindh.
As Chinese economy contracts, G20 GDP falls 0.4 percent in Q2 2022: OECD
The GDP of India, South Africa, UK and US also saw contraction in the second quarter of 2022 compared to the first.
RBI may hike rate by 35-50 basis points in next policy meeting: Sonal Varma of Nomura
A note penned by Sonal Varma, managing director, chief economist - India and Asia (ex-Japan) at Nomura, on September 13, said inflation surprised on the upside mainly due to higher food inflation.
CEPA may help double India’s exports to Bangladesh, narrow gap with China
Currently, India’s share in the total imports by Bangladesh is half that of China
Govt considers new coal imports as energy supply concern grows
Stockpiles of the fossil fuel at power plants have fallen about 11% since mid-August, meaning utilities have an average of 10 days supply, well below required levels of more than three weeks.
Government tweaks mineral concession rules to cut interest state charge on dues
The changes have been made under powers conferred by the Mines and Minerals (Development and Regulation) Act, 1957.
Sterling returns to the 1980s, and it may get cheaper still
The currency fell to as low as $1.1407 on Wednesday as investors grow fearful of the economic outlook. Sterling has lost nearly 10 percent of its value since early June
ECB poised for another big rate hike as inflation soars
Policymakers scramble to keep a lid on the bloc's most damaging bout of price growth in nearly half a century as it eats up household savings and weighs on business output
Oil slumps below $85 for first time since January on demand fear
US benchmark West Texas Intermediate sank below $85 while the global Brent benchmark fell below $90.
Centre to permit states to integrate with National Single Window System
Reverse integration would help investors who are on a state’s single-window system to come to the National Single Window System and improve the ease of doing business
India on course to becoming third largest economy by 2030, says Capital Economics
India recently overtook the UK to become the fifth-largest economy at market exchange rates.
Looking forward to internationalisation of CBDCs, says RBI deputy governor
The Indian central bank sees CBDCs being key to slashing time and costs associated with the settlement of international transactions
Global economic turmoil not to impact India's recovery: Moody's Investors Service
Moody's saw the Indian economy expanding by 7.6 per cent in the current fiscal compared to 8.7 per cent growth in the last financial year that ended on March 31. For 2023-24, it estimates a 6.3 per cent GDP growth.
India to onboard all states on National Single Window System by March 2023
The National Single Window System seeks to be the one-stop digital platform to obtain all central and state approvals required to start business operations in India.
