Page 5 - Economic Policy

New UK PM Sunak faces dose of reality as economic, political woes mount

The new premier, Sunak's economic policy is set to face scrutiny as the Bank of England delivers what could be its biggest interest-rate hike in more than 30 years

RBI Monetary Policy: Repo rate up by 50bps; here's how it will impact you

On Friday, RBI increased the repo rate by 50 basis points taking the key repo rate to 5.9%; here is why it should matter to you

Government approves 22nd tranche of electoral bonds; sale from October 1-10

Ahead of assembly elections in Gujarat and Himachal Pradesh, the government on Thursday approved issuance of 22nd tranche of electoral bonds that will open for sale on October 1. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. State Bank of India (SBI), in the 22nd phase of sale, has been authorised to issue and encash electoral bonds through its 29 authorised branches from October 1-10, the finance ministry said in a statement. The authorised SBI branches include those in Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai. Assembly election dates for Gujarat and Himachal Pradesh are likely to be announced in few weeks. The 21st tranche of bond sales took place from July 1-10, 2022. Sale of the first batch of electoral bonds happened from March 1-10, 2018. SBI is the only authorised bank

UK PM Liz Truss defends decisive action of mini-budget amid market turmoil

British Prime Minister Liz Truss on Thursday defended her government's controversial mini-budget which has triggered widespread economic turmoil and insisted that it was the decisive action needed for long-term growth. In her first round of interviews with local BBC radio stations around the country since the tax-cutting and high government, borrowing measures were tabled by Chancellor Kwasi Kwarteng in the House of Commons last week, the recently elected leader insisted "controversial and difficult decisions" needed to be taken to improve the situation in the UK. Truss was keen to keep the focus on the largely welcome action taken to freeze fuel bills for households and businesses amid spiralling global energy costs in the wake of the Russia-Ukraine conflict. "We had to take decisive action to help people through this winter and next winter, said Truss. I understand that families are struggling with their fuel bills and we had to take urgent action to get our economy growing and g

Old economists, old ideas, bad policies

Big data is being put to extensive use for microeconomic analysis. Older economists to whom the government pays attention are quite clueless about these forms of analysis

Policy debate: Decoupling freebies from politics

Freebies pose serious fiscal challenges, but they need an economic policy response

Did India err by walking out of IPEF's trade pillar?

Given that India is currently negotiating trade deals with the UK, Canada and EU, is the decision to stay out of Indo-Pacific Economic Framework a step in the wrong direction? Find the answers here

Long Covid costing Australia's economy $3.6 bn annually, says report

Australia has announced a parliamentary inquiry into long Covid, with the aim of developing a clear definition of the illness and gauging the scale of its impact on the country's 26 million people

A quarter century of public-private partnership

With the government aiming to channel private capital to monetise brownfield operating assets, PPP may well be set to see a revival

Russia unveils economic development plan until 2030, focus on sanctions

The growth of the Russian economy will be driven by domestic demand, both from investors and consumers, the ministry noted

India has potential to produce 9.7 million tonnes of seaweed: ICAR-CMFRI

India has the potential to produce around 9.7 million tonnes of seaweed per year, as against the paltry 34,000 tonnes it produced last year, according to the CMFRI

Back to snow: World Economic Forum reverts to Jan for 2023 annual meeting

DAVOS, Switzerland (Reuters) - The World Economic Forum will revert to January for its 2023 annual meeting in the Swiss ski resort of Davos after moving to the spring for the first time due to the coronavirus pandemic.

Biden' economic plan for Japan faces criticism even before launch

US President's Joe Biden's offering of grants to Indo-Pacific region, starting with Japan was not taken in good spirit and was heavily criticised.

A change of course on privatisation

The modest targets reflect a welcome embrace of pragmatism in the govt's economic policy

Pak's central bank chief warns of taper tantrum-style shock to Ems

Reza Baqir urges advanced economies to act to stem rising global inflation

IMF revives $6-billion bailout for Pakistan's teetering economy

The agreement involves the implementation of prior actions before final approval is given by the IMF

Officials relieved at joint US-India economic partnership statement

The reason is that this is the first time that there is no ask from Capitol Hill on economic reforms

The schizophrenic BJP government

The paradox is that BJP's economic policies have been the opposite of its non-economic policies.

Have sunset clause for economic laws constraining growth: Vijay Kelkar

Kelkar suggested a system for periodic review of economic laws, howsoever revolutionary they might be when they are passed

BOJ plans to launch new scheme on climate change, keeps policy steady

The Bank of Japan said on Friday it will launch a new scheme to encourage financial institutions to boost lending and investment for fighting climate change