Page 47 - Economy

Indian states' fiscal deficit rose nearly 79 per cent after lockdown: RBI

The RBI's Handbook of Statistics on Indian States showed that apart from Arunachal Pradesh, Haryana, Sikkim and Odisha, all the states saw a higher fiscal deficit in FY21 as compared to FY20

Works under SBM to attract GST if not done for govts, authorities: AAR

Work done for State Urban Development Agency under the Swachh Bharat Mission (SBM) and Mission Nirmal Bangla would not be exempt from GST, according to the state Authority for Advance Rulings (AAR)

Warning signal for economy as headline inflation heads to high core

Rate of core price rise has been over 5% for over two years and remained over 6% for five months till Oct

UK finance ministery hits wealthy with higher taxes in £55 billion squeeze

British Finance Minister Jeremy Hunt announced a string of tax increases and tighter public spending in a budget plan on Thursday

Indian space business: An exciting field or a bubble about to burst?

There are plenty of challenges however before the scale is achieved, and not necessarily related to launches. There is a vast unmet insurance requirement

Global freight rates down 30% YoY; steel, auto, and pharma to benefit

However, average container prices are still 2-3 times higher compared to pre-pandemic levels

Education loan disbursal target for FY23 set at 13.5% lower than FY22: Rpt

In FY22, the country's financial system disbursed education loans for Rs 23,640 crore and for 12 PSBs in India, the target for FY23 has been fixed at Rs 20,450 crore

Supreme Court dismisses review petition on pre-GST state tax on lotteries

Court's verdict earlier led to legislation brought out by Karnataka and Kerala being declared invalid

NASSCOM research group to come up with standards for data anonymisation

'Unfiltered access not advisable', says CEO of Data Security Council of India

Multiple factors doubled retail inflation rate in wheat, rice since April

The spike in the prices of these two cereals was diametrically opposite to the cooling of the overall inflation rate and of food inflation, both of which hit a three-month low

Japan's economy shrinks 1.2% in July-Sept qtr as consumer spending declines

The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. Seasonally adjusted real gross domestic product for the world's third-largest economy shrank 0.3% on-quarter, according to government Cabinet Office data released Tuesday. The annual rate shows how the economy would have grown if the quarterly rate were to continue for a year. Japan's GDP, or the sum of the value of a nation's products and services, was weaker than analysts had expected, coming after three quarters of moderate growth. Like many nations, Japan has suffered as the coronavirus pandemic slammed industrial production and tourism. Private consumption grew 0.3% in July-September, slowing down from the 1.2% growth recorded the previous quarter. Private investment grew 1.5%, down from 2.4% growth in the previous quarter. Another factor is the Japanese yen's fall against other currencies, especially the U.S. dollar. The Federal Reserve has

Economic uncertainty a threat for flexi-work model: LinkedIn research

71% of business leaders surveyed in India want employees to work more frequently from office, instead of WHF. Despite this, 82% believe hybrid working is here to stay for the longer term

Indian cities will need $840 bn investment over 15 years: World Bank

Municipal bonds account for a marginal share in debt financing, says the report

China recalibrates policy, issues directions to rescue property sector

The move coincided with a publicly announced 20-point playbook from the National Health Commission aimed at reducing the economic and social impact of containing Covid

To globalise or not: Everything you need to know about friendshoring

In her visit to India last week, treasury secretary Janet Yellen said that the US is pursuing an approach called "friendshoring"

Chip curbs: Biden has outdone Trump in forcing the world to align on China

That's not just a challenge to Beijing, but also asks tough questions of allies - and presents Washington with a dilemma over how far it's willing to squeeze them to comply.

Inflation, Ukraine war make world economy gloomier than last month: IMF

In last month's WEO, IMF cut its forecast for global growth next year to 2.7%, from 2.9% seen in July and 3.8% in Jan, adding that it sees a 25% probability that growth will slow to less than 2%

MGNREGS work demand slows but still higher than pre-pandemic months

Experts say unless non-farm activities grow in rural areas or demand rises in the urban, the informal sector might continue to struggle

Biggest challenge for central bankers now to bring inflation down: IMF

"There's really a very narrow path to get things right," Gopinath said, noting that the dollar's sharp rise had important macroeconomic implications for a host of countries around the world

India and China are converging to high income levels, says Moody's

"The remainder have been in the same income category for decades and are either converging at a relatively slow pace or diverging from high-income levels," Moody's said.