With a focus on cluster-based development to achieve its 1-trillion dollar economy goal, the BJP government in Uttar Pradesh has identified Aligarh, Unnao, Jhansi and Prayagraj districts from the four geographical areas of the state to develop special investment regions (SIRs) for manufacturing by putting to use large chunks of “wasteland” available there, it is learnt. The Yogi Adityanath-led Cabinet had recently given the go-ahead to develop four SIRs in the state. While the Uttar Pradesh Nodal Investment Region for Manufacturing (NIRMAN) Bill will be tabled in the Assembly’s upcoming…
Tag: Economy
Understanding the Critical Role of MSMEs in India’s Economy
Micro, Small, and Medium Enterprises (MSMEs) in recent years have attained significant importance in driving economic growth and development. Such businesses secures an important role in creating jobs, fostering innovation, and contributing to the overall Gross Domestic Product (GDP) of a country. The MSMEs importance is been discussed in this blog and also why they are regarded as the backbone of many economies worldwide has been taken into account in this discussion. Define MSME MSMEs are characterized by their size and assets, with detailed criteria ranging from country to country.…
RBI’s bumper payout to limit big ticket divestment; govt to maintain Rs 50k cr target: Report
The record Rs 2.1 lakh crore dividend payout by the Reserve Bank of India will limit the need for big-ticket divestment, a domestic rating agency said on Thursday. Care Ratings said the new government will retain the interim budget’s Rs 50,000 crore target on receipts from divestments. “With a bumper dividend from the RBI, the central government’s fiscal position remains comfortable, which may limit the urgency to push ahead with big-ticket divestments,” it said. If there is a shortfall in the resource accretion, the government will prefer asset monetisation, it…
Federal Reserve: Wall Street Week Ahead: Recession? To land softly? Inflationary recession? Investors assess the strength of the economy
[ad_1] With a pitiful first half for the stock market now in the history books, investors are assessing whether the US economy can survive a significant recession as federal Reserve Raises rates to fight the worst inflation in decades. The answer to this question has a direct bearing on the markets. Strategists say an economic slowdown coupled with weak corporate earnings could reduce the S&P 500 by at least 10%, undoing losses that have already pushed the benchmark index down 18% year-over-year. Conversely, according to some analysts’ price targets, in…
Rupee today: Rupee depreciating by half a percent and economy of $3 trillion!
[ad_1] This is rare for a $3-trillion currency Economy To lose half a percentage point in one trading day against the dollar. But 2022 has been such a rare year of exaggeration – both for amplitude in daily currency movements and net withdrawals by foreign funds. Tuesday was the eighth day in 2022 when the Indian monetary unit fell by more than half a percent against the dollar. It closed down 0.53% at $79.37 and hit another lifetime low of 79.38. The recent unilateral depreciation of the rupee has reflected…
Recession: US economy will ‘narrowly survive’ recession in 2022 and 2023: IMF
[ad_1] US economy Likely to slow down in 2022 and 2023, but will “avoid a recession” federal Reserve The International Monetary Fund said it implements its rate-tightening plan to curb inflation. “The policy priority now should be to rapidly slow down wage and price increases without the onset of a recession” International Monetary Fund said in a statement on Friday. “This will be a difficult task,” as global supply shortages and domestic labor shortages are likely to persist, and the war in Ukraine creates additional uncertainty, it said. Managing director…
Is the US economy in the grip of a recession?
[ad_1] New York: is US economy Sliding in and Banning the Recession Russia Over that Ukraine war A boomerang started in the Eastern Donbass region, causing stocks to fall and the entire currency market turning bearish. Based on the analysis of various economic experts, billionaires, investors, stock market players and even government officials, the economy is going into a tailspin and the market is set to fall by 40 per cent, which is at least as many as six. I have cause for concern. One in 10 Americans put their…
RBI policy rate hike: RBI’s decision to hike policy rate to help economy in medium term, says Assocham
[ad_1] industry body Assocham said on thursday Reserve BankThe decision to increase the benchmark lending rate by 50 basis points to 4.9 per cent will help the Indian economy in the medium term. The central bank on Wednesday hiked the repo rate for the second time in five weeks. Earlier, it had increased the short-term lending rate by 40 basis points (bps) on May 4. Assocham President Sumant Sinha said through a clearly coordinated approach between the two countries reserve Bank of India And Finance MinistryThe Indian government and monetary…
Vladimir Putin says no iron curtain will shut down Russia’s economy
[ad_1] President Vladimir Putin said on Thursday that no iron curtain will fall on the Russian economy despite sanctions imposed by the West as Moscow will not shut itself off from the world like the Soviet Union. The sanctions imposed on the West over Russia’s invasion of Ukraine have prompted Russia, one of the world’s largest producers of natural resources, to have the biggest economic contraction since the 1991 collapse of the Soviet Union. has done. Asked about possible deals with partners such as China and India amid the “shutdown”…
Growing Economy, Not 2017 Tax Act, Is Boosting Corporate Tax Receipts
[ad_1] Corporate tax revenue jumped in 2021, and some proponents of the 2017 Tax Cuts and Jobs Act argue the big tax cuts in the bill deserve credit (wall street journalI, Goodspeed and HassettBut there’s a better explanation: Last year’s strong economic growth, high inflation, and pandemic-related relief legislation increased both corporate profits and paid-tax business. Soon after the TCJA was passed, the Congressional Budget Office (CBO) forecast Corporate tax receipts will fall from 1.5 per cent of gross domestic product (GDP) in 2017 to 1.2 per cent in 2018…