Economic Challenge

Budget neglects challenges facing Indian economy, say Left parties

The Union Budget has neglected the challenges facing the Indian economy and not provided any relief to the poor reeling under the pressure of high inflation, stagnated income and rising unemployment, Left parties said on Saturday. In a statement issued here, the politburo of the Communist Party of India (Marxist) said instead of addressing the root cause of the demand problem being faced by so many sectors of the economy and the lack of purchasing power for large sections of the population because of mass unemployment and shrinking wages, the BJP-led Centre is trying to stimulate the economy by giving tax cuts to a small minority with higher incomes even as expenditures are cut. "While the Economic Survey shows the desperate plight of India's labour force, pointing out the decrease in earnings over the last five years, this budget with its emphasis on cutting government expenditures while giving concessions to the rich will only increase the huge inequalities in India," the CPI(M) ..

Centre focuses on new strategy to tackle mounting economic challenges

Asia's third-largest economy forecast annual growth of 6.4 per cent in the fiscal year ending in March, the slowest in four years

China urges more aid for people in need as economic challenges persist

China's economy has struggled to gather steam this year, mainly due to a protracted property crisis and weak domestic demand

Startup fever grips India: What economic challenges, surprises lie ahead?

Is it likely that startups that listen carefully to what Tim Berners-Lee has to say are the ones that will thrive in tomorrow's world (the so-called Web 3.0)?

PM Modi holds talks with Maldives President, focusing on strengthening ties

Financial support from New Delhi to revive an ailing economy is expected to top the agenda when Muizzu meets PM Modi on Monday

Job creation is India's top economic challenge, policy experts say: Poll

An overwhelming 91 per cent majority of development economists and policy experts, 49 of 54, said unemployment would be the biggest economic challenge for the government's term

Sobering projections

Macroeconomic impact of climate change will be big

UNDP report indicates worsening economic insecurity in Afghanistan

According to the UNDP report, currently, seven out of 10 people in Afghanistan are not able to meet their basic life requirements and face economic insecurity

Russia becoming 'new global growth centre', says President Vladimir Putin

"The world has entered an era of radical changes and serious tests not only for specific companies and sectors, but also for whole countries and regions of the world," Putin said

China, India will be locked in competition, cooperation at same time: Allan

Stable economic and political environment in India is attractive to investors, said Nick Allan

Uncertain economy, rapid tech change bring mega-deals under fire

Recently, TCS saw its mega deal with Transamerica come to an end

Global challenges require constant vigilance

The biggest risk to India's economy and social stability comes from 'grey rhino' disasters that are highly probable but often ignored

EIB Global's finance worth EUR 10.8 bn in 2022 amid economic challenges

Despite the challenges of investing in an economic recovery after the pandemic, EIB Global, the development arm of the European Investment Bank, financed EUR 10.8 billion in 2022

India played key role in IMF's clearance of 48-month EFF to Sri Lanka

India played a crucial role in the International Monetary Fund (IMF's) clearance of a 48-month Extended Fund Facility (EFF) worth USD 2.9 billion to crisis-hit Sri Lanka, reported True Ceylon

Despite troubles, salaries in India may increase by 10.3% in 2023: Survey

Salaries in India are expected to increase by 10.3 per cent in 2023, highest among major world economies and Asian peers, according to Aon plc. In 2022, salaries in India witnessed an actual increase of 10.6 per cent in 2022. As per Aon plc's 28th Annual Salary Increase Survey in India, double-digit salary growth will continue in India despite economic volatility, largely as a response to high attrition rates. At 21.4 per cent, the attrition rate in India for 2022 remained high a consequence of an ever-changing talent strategy and the ongoing gap between supply and demand of talent. "With back-to-back double-digit increments, India Inc continues to be bullish on talent despite fears of global macro-economic uncertainty. "Organisations are increasingly prioritizing their spends towards top performances, key talent and high potential talent," said Pritish Gandhi, Aon Director & India Practice Leader, Executive Compensation & Governance. The study, that analyzed data across ...

India-Australia interim trade deal kicks in today after eight-month wait

The implementation of the interim trade pact, also known as Economic Cooperation and Trade Agreement (ECTA) has the potential to double the bilateral trade between the two countries to $50 billion

LinkedIn CEO sees growth outside US, with India leading amid headwinds

India has become LinkedIn's fastest-growing market as more companies and advertisers come online, with sales in the country rising at a 50% year-on-year clip, Roslansky told Bloomberg TV

PM kicks off Rozgar Mela, says India making effort to deal with challenges

Prime Minister Narendra Modi launched the "Rozgar Mela" on Saturday to recruit 10 lakh people and underscored his government's efforts to create jobs in the last eight years amid the opposition's constant criticism of it on the issue of unemployment. In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed. "It is a fact that the global scenario is not very good. Several large economies are struggling. In many countries, problems such as inflation and unemployment are at their peak," he said. No one thinks that the side-effects of the once-in-a-century COVID-19 pandemic will go away in 100 days, the prime minister said, adding that the crisis is grave and global, causing adverse effects all around. "Despite thi

Kalyan Jewellers sees 20% revenue growth in Sept qtr despite challenges

Jewellery retailer Kalyan Jewellers on Friday said it has registered a consolidated revenue growth of 20 per cent during the second quarter of FY23 despite various economic challenges triggered by the geopolitical situation. "We recorded consolidated revenue growth of approximately 20 per cent in Q2 FY23 as compared to the same period in the previous financial year, and approximately 50 per cent in H1 FY23, compared to the same period in the previous financial year," Kalyan Jewellers said in a statement. While the recently concluded quarter saw heightened levels of competitive intensity across various markets resulting in a lower gross margin than it was seen previously, the company continued to see robust operating momentum in its India business, driven by shift in demand towards branded retail chains, the company said. "As previously disclosed, we have developed a strategy and execution roadmap for our newly created franchise store initiative, and had opened our first franchised .

AIIB's Erik Berglof on ongoing economic turmoil and more

In an interview with Business Standard's Asit Ranjan Mishra, AIIB chief economist Erik Berglof talks about the economic turmoil and how the bank played a key role in bringing India and China closer.