Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>The economy is at a decisive moment, and Friday's jobs report may provide answers.</li><li>The last jobs report brought an unpleasant surprise when unemployment jumped up, causing the stock market to plunge.</li></ul>Friday's jobs report is a big one.That's because the US economy is at a critical point. The next batch of data could be a key indicator of whether the economy is sticking the <a target="_blank" class="" href="https://www.businessinsider.com/recession-prediction-soft-landing-goldman-sachs-us-economy-volatility-inflation-2024-8">soft landing or heading into a recession</a>.It'll also point toward how big the nation's central bank will go <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-wall-street-how-much-jackson-hole-fed-2024-8">on interest rate cuts</a> in its <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-likely-september-federal-reserve-holds-steady-july-2024-7">September 18 meeting</a>. While it's looking almost certain that the rate cuts Americans have been hoping for will finally happen, the question is how deep those cuts will go.So let's paint two scenarios, based on Friday's report, and both come down to one number.If the unemployment rate spikes again — as it did in <a target="_blank" class="" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">July's report </a>— the stock market could plunge, mirroring what happened after that unwelcome surprise. Unemployment above July's 4.3% could indicate that the jobs market is in even more dire straights and the chances of a coming recession could go higher. Additionally, the Fed could decide to cut rates even deeper than the expected 25-basis-point cut.On the other hand, if unemployment dips to 4.2% or below, it could be an indication that July's shockingly large increase was a blip and the job market isn't on a steep decline. The Fed could announce a 25-basis-point cut — the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">most likely scenario</a>, according to market predictions — which will mean that while the economy is cooling, it doesn't need drastic intervention on its way to a soft landing.The upcoming jobs report will clarify which of those two roads the Fed thinks we're on."It's really an opportunity for them to focus on the labor market and make sure that they are not inducing a more dramatic slowdown," Aaron Terrazas, chief economist at Glassdoor, told Business Insider.<h2 id="055a6f9d-c7c2-49a7-9322-c744c1fa5d7d">A golden path or Recessionland</h2>The Federal Reserve has held steady on interest rates for around a year — a decision called into question after July's disappointing jobs report.The Fed will likely be using the upcoming data to determine whether July's weak employment numbers persist and are indicative of a recession or if that was just a bump in the road and the economy can carry on into the coveted soft landing."We've got to be thinking about where will we need to be to pull off what I call the golden path, which is to get inflation down from these epic heights to something like our target without having a serious recession," Chicago Fed President Austan Goolsbee told BI. "And so far, we did that in 2023. This looks like a little bit of that magic dust. It has carried over into 2024, but there's weakening on the labor market side and so we've got to be attentive."Still, a 50-basis-point cut isn't guaranteed even if Friday's job gain and unemployment rate data are weak."I think the Fed will want to avoid being seen as excessively data-point dependent so that there would need to be a significant degree of weakness, very low payroll growth, or potentially a decline, and an increase in the unemployment rate for policymakers to suggest 50 basis points as the first rate cut," Gregory Daco, the chief economist of EY, told BI.While the size of a rate cut is in question, Federal Reserve Chair Jerome Powell <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-are-coming-federal-reserve-jackson-hole-powell-2024-8">all but confirmed an interest-rate cut</a> in September during his keynote speech at Jackson Hole last month and indicated that the Fed will be closely watching the incoming jobs data, saying that "the inflation and labor-market data show an evolving situation. The upside risks to inflation have diminished. And the downside risks to employment have increased."July's unemployment rate of 4.3% was the highest since October 2021. A slight dip in this rate is expected for August, the forecast on <a target="_blank" class="" href="https://www.investing.com/economic-calendar/unemployment-rate-300">Investing.com</a> showed, and job growth is expected to tick up.Terrazas said the question among economists right now is just how big of a cut the jobs report could prompt."If we do get a weak report, then I think 50 basis points is very clearly on the table," Terrazas said.David Kelly, J.P. Morgan Asset Management's chief global strategist, thinks the Fed will cut rates in September and December — both times being 25 basis point cuts."A payroll gain of less than 100,000 or a rise in the unemployment rate to 4.4% or above would make a 50 basis point cut in September likely," Kelly told BI in a statement about the upcoming labor market report.New data out Wednesday from the Bureau of Labor Statistics showed job openings fell for the second straight month in July, and the number of hires increased slightly."If we continue to get labor market data like today's report, then the pace of cutting is likely to be quick," Nick Bunker, economic research director for North America at the Indeed Hiring Lab, said on Wednesday. "Hopefully, the labor market can level off and a more deliberate pace of cuts can be undertaken. But the underlying trends in the data suggest that might not be the reality."The Fed likely will also be considering the path of inflation as it decides how much to cut rates. Inflation has cooled and is now hovering just a little above the Fed's 2% target. New consumer price index data, an inflation measure, will be released before the FOMC meeting.Inflation and the labor market have both cooled, <a target="_blank" href="https://www.businessinsider.com/jobs-unemployment-interest-rates-economy-recession-soft-landing-2024-8">but the much-sought soft landing could be in trouble</a>. A recession isn't here either — even if some widely followed <a target="_blank" href="https://www.businessinsider.com/sahm-rule-recession-unemployment-federal-reserve-interest-rates-cut-2024-8">recession indicators</a> have started to sound the alarm."I think the US economy is softening but not soft," Daco said.Goolsbee also emphasized the importance of looking at the data over time rather than a single point, and he noted that even if the Fed does start cutting rates this year, "the mission of the central bank is never done.""There is no declaring mission accomplished," he said. "It's a mistake to do that."Will an interest rate cut impact your life or finances? Contact these reporters at <a target="_blank" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>, <a target="_blank" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a>, and <a target="_blank" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a>.

The economy is at a fork in the road

New <keyword id="19900881" type="General" weightage="20" keywordseo="delhi" source="keywords">Delhi</keyword>: Japanese auto major <keyword id="19965528" type="General" weightage="100" keywordseo="honda" source="keywords">Honda</keyword> on Wednesday said it has started joint research on AI technologies with <keyword id="19896445" type="General" weightage="20" keywordseo="iit-delhi" source="keywords">IIT Delhi</keyword> and IIT Bombay with plans to develop driver assistance and automated driving technologies applicable in various regions of the world, including India. The joint research is aimed to further advance Honda CI (Cooperative Intelligence)-- the original Honda AI that enables mutual understanding between machines and people, the company said in a statement. Honda Cars India Ltd (HCIL), a Honda subsidiary in India, will sign a joint research contract with the two IITs. "The IITs are a home to a large number of excellent researchers and engineers, and through the joint research with those institutes, Honda will strive to advance the underlying technologies of CI, with an eye toward the future applications for technologies that reduce traffic collisions and enable automated driving," it said. With an aim to achieve further advancement of CI, Honda and IITs have set joint research themes such as recognition of the surrounding environment and cultivation of cooperative behaviour, and will conduct research and development while utilising the cutting-edge AI technologies, it added. Under the partnership, for each research theme, Honda associates and IIT professors will engage with IIT students for planning, designing, developing and testing technologies which work beyond the confines of the laboratory and thereby proceed with the research and development more flexibly and with a high degree of freedom, Honda said. "This will enable Honda and IITs to work in a more flexible environment with deeper exchange of academic and industry insights," it added. In addition, as part of this research, Honda with the help of IITs is aiming to conduct verification of driving assistance and automated driving technologies in the suburbs of Delhi and in Mumbai. Due to numerous variations in the road systems and a large number of road users, India has a complex traffic environment where situations that occur frequently are difficult for AI to predict. "By conducting technology verification in such a technically challenging environment, Honda and IITs will refine the underlying technologies of CI and strive to apply them to future driver assistance and automated driving technologies in various regions of the world, including India," the statement said. Honda said it has been actively hiring IIT graduates since 2019, and many of them are now playing key roles in the areas of mobility intelligence, including the research and development of CI.

Honda begins joint research with IIT Delhi, Bombay on AI technologies

Chickens, integral to the world's economy today, stand as one of the most consequential animals globally. Their significance spans various industries, from agriculture to gastronomy, solidifying their role in the economic landscape. The journey of chickens, from their origins to their widespread distribution across the ancient world, remains a subject of intrigue and uncertainty. Recent archaeological advancements have challenged previous understandings, revealing that many bone findings once presumed to be early chickens actually belonged to wild birds. However, a recent study conducted by an international team of archaeologists, historians and biomolecular scientists has provided groundbreaking insights into the earliest evidence of <keyword id="21178748" type="General" weightage="20" keywordseo="chicken-domestication" source="Orion">chicken domestication</keyword> for <keyword id="1486334" type="General" weightage="20" keywordseo="egg-production" source="Orion">egg production</keyword>. This discovery sheds light on a crucial aspect of ancient human-animal relationships, potentially revealing the primary factors driving the spread of domestic chickens across Eurasia and northeast Africa. <cmsannotation type="cmsannotation" annotationid="From Silk Road to supermarkets: Investigating the origins of chicken domestication" comment="subhead" text="From Silk Road to supermarkets: Investigating the origins of chicken domestication">From <keyword id="621419" type="General" weightage="20" keywordseo="Silk-Road" source="Orion">Silk Road</keyword> to supermarkets: Investigating the origins of <keyword id="62613" type="General" weightage="100" keywordseo="chicken" source="Orion">chicken</keyword> domestication</cmsannotation> The research team embarked on a comprehensive investigation, collecting tens of thousands of eggshell fragments from 12 archaeological sites situated along the Silk Road's central corridor in Asia. Employing advanced biomolecular analysis techniques such as <keyword id="189306" type="General" weightage="20" keywordseo="ZooMS" source="Orion">ZooMS</keyword>, the researchers were able to identify the origins of these eggshells. Unlike traditional genetic analysis, ZooMS relies on protein signals rather than DNA, offering a faster and more cost-effective method for species identification. Analysing eggshell fragments spanning approximately 1,500 years, the researchers discovered widespread evidence of chicken husbandry in Central Asia between 400 BCE and 1000 CE. This suggests a significant role for this region in the early domestication and dispersal of chickens along the ancient Silk Road. The identification of these eggshell fragments as originating from domesticated chickens, coupled with their prevalence across various sediment layers at each excavation site, led the researchers to a significant conclusion. It became apparent that domestic chickens were laying eggs out of season, exhibiting a higher frequency compared to their wild ancestor called the red jungle fowl, which nests only once per year and typically lays six eggs per clutch. “This is the earliest evidence for the loss of seasonal egg laying yet identified in the archaeological record. This is an important clue for better understanding the mutualistic relationships between humans and animals that resulted in domestication,” said Dr. <keyword id="21178752" type="General" weightage="20" keywordseo="Robert-Spengler" source="Orion">Robert Spengler</keyword>, leader of the Domestication and Anthropogenic Evolution research group and principal investigator on the study. All in all, this enhanced reproductive capacity is why domestic chickens became highly desirable to ancient societies, ultimately shaping their evolution into the globally significant species we recognise today. These findings were published in the journal Nature Communications and can be accessed <a href="https://dx.doi.org/10.1038/s41467-024-46093-2">here</a>.

Research unveils the key moment that transformed chickens into the economically relevant animals that they are today

<ul class="summary-list"><li>Dollar dominance faces key challenges in the future, Brookings researchers said.</li><li>The think tank pointed to four forces that could be make the greenback less attractive. </li></ul>There are a handful of challenges to the dollar's top status in financial markets, according to researchers from the Brookings Institution.In a recent <a target="_blank" class="" href="https://www.brookings.edu/articles/the-changing-role-of-the-us-dollar/">note</a>, the think tank pointed to the US dollar's shifting status in global financial markets, with the use of the <a target="_blank" class="" href="https://www.businessinsider.com/dedollarization-imf-stealth-erosion-global-us-dollar-forex-reserves-sanctions-2024-6">greenback declining steadily </a>over the past several decades. While the <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-currency-war-trade-usd-reserves-explained-2024-5">dollar still dominates</a> central bank reserves and world trade, the currency accounted for 59% of all global reserves at the start of 2024, down from 71% of reserve in 1999, according to estimates from the International Monetary Fund.<div type="image" title="Dollar's share of global reserves graph" height="1138" width="1145" msid="112816893" hostid="261" sizebytes="59508"></div>Meanwhile, the share of nontraditional currency reserves has edged higher. Currencies like the Australian dollar, the Swiss franc, and Chinese yuan accounted for 11% of all central bank reserves at the start of this year, up from 2% recorded in 1999, per IMF data.<div type="image" title="Share of nontraditional currency reserves" height="1162" width="1151" msid="112816894" hostid="261" sizebytes="62210"></div>That decline has sparked some fear among investors that the dollar could soon be ousted from its top-dog position in financial markets. While most experts say that <a target="_blank" href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-war-usd-yuan-china-russia-brics-currency-2024-7">likely isn't happening anytime soon</a>, the think tank said the dollar's dominant status faces key challenges, pointing to four factors in particular.<h2 id="eb86da1f-7f18-4189-b9a3-3748f015a7bb">1. US sanctions</h2>The US began implementing sanctions on Russia and its allies after Moscow began its invasion of Ukraine in 2022. That's sparked a de-dollarization drive in Russia and other BRICS nations, which have suggested they're looking to shift away from the dollar as a reaction to Western trade restrictions.Russia, in particular, has taken steps to heavily de-dollarize its economy, with the nation adopting a <a target="_blank" href="https://www.businessinsider.com/dedollarization-russia-china-yuan-ruble-exchange-rate-benchmark-new-sanctions-2024-6">yuan-to-ruble exchange rate</a>, proposing a <a target="_blank" href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-dominance-currencies-brics-china-russia-india-putin-2023-7">rival currency to the greenback</a>, and reportedly spearheading an <a target="_blank" href="https://www.businessinsider.com/dedollarization-russia-actively-working-brics-local-currencies-platform-us-dollar-2024-6">alternative payment platform</a> that wouldn't be reliant on the dollar.China, which saw its companies hit with <a target="_blank" href="https://home.treasury.gov/news/press-releases/jy2546">secondary sanctions</a> from the US Treasury last week, has also signaled a shift away from the dollar, <a target="_blank" class="" href="https://www.businessinsider.com/dedollarization-china-yuan-cny-trade-usd-sanctions-protection-reserve-currency-2024-5">promoting its yuan as an alternative</a>."If the United States is capricious with sanctions, acts unilaterally, and fails to develop a doctrine of economic statecraft, the dollar could be dethroned," Brookings researchers said, citing <a target="_blank" class="" href="https://www.businessinsider.com/economic-sanctions-russia-us-dollar-dominance-yellen-alternative-yuan-dedollarization-2023-4">comments</a> from US Treasury Secretary Janet Yellen.<h2 id="eff7251a-f1be-40d0-8494-5988c77ddab7">2. US debt</h2>The US's rising debt load could make currency holders more wary of the dollar, especially if there are concerns that the US may not be able to pay back its dues.While the US debt balance hasn't yet breached unsustainable levels, the government's rapid pace of spending has done little to ease markets. Fitch, for instance, <a target="_blank" href="https://www.businessinsider.com/fitch-downgrades-us-credit-rating-deficit-debt-ceiling-2023-8#:~:text=Fitch%20downgraded%20the%20US's%20credit,the%20debt%20limit%20until%202025.">downgraded the US</a><a target="_blank" class="" href="https://www.businessinsider.com/fitch-downgrades-us-credit-rating-deficit-debt-ceiling-2023-8#:~:text=Fitch%20downgraded%20the%20US's%20credit,the%20debt%20limit%20until%202025."> credit rating</a> last year, citing a "steady deterioration in standards of governance.""Bickering over appropriations, Congress has shut the government down several times. Further political instability could erode investor confidence in the dollar," the researchers said.<h2 id="c18d8d68-8ac9-451c-b2c2-8ff5942f963f">3. Improved payment technology</h2>More advanced payment systems have made it easier to exchange nontraditional currencies. That could weigh on demand for the US dollar, which has traditionally been seen as the most attractive medium of exchange."Typically, converting such currencies to dollars, and vice versa, has been easier and cheaper than exchanging them for one another. But China and India, for example, will soon no longer need to exchange their respective currencies for dollars to conduct trade cheaply. Rather, exchanging renminbi for rupees directly will become cheaper. Consequently, the reliance on 'vehicle currencies,' particularly the dollar, will decline," Eswar Prasad, a senior fellow at the Brookings Institution, said in a previous note.<h2 id="0b9967af-c144-471b-8ee3-4faf7baad925">4. Central bank digital currencies</h2>Digital currencies issued by central banks could also make it easier and cheaper to nontraditional currencies. China is developing one such <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/dollar-dominance-outlook-china-india-digital-currency-race-fed-innovation-2024-1">CBDC</a>, and CIPS, China's Cross-border Interbank payment system, has been "growing rapidly" over the past few years, the think-tank noted.The Fed has created its own instant payment network, but hasn't moved to create a CBDC, with Powell suggesting last year that a <a target="_blank" class="" href="https://www.federalreserve.gov/faqs/is-fednow-replacing-cash-is-it-a-central-bank-digital-currency.htm">digital currency would require approval from lawmakers</a>. That means the US risks falling behind other countries, where digital payment tech is rapidly developing, Brookings researchers said.Still, despite warnings, most currency experts <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-war-currency-usd-dominance-china-yuan-economy-2024-5">do not believe de-dollarization</a> is a near-term threat to the US or its currency. At the moment, there are no close competitors to the greenback in financial markets — and countries that try to de-dollarize anyway <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-war-usd-yuan-china-russia-brics-currency-2024-7">risk a host of economic consequences</a>, like slower growth and lost investment value, one commodities vet told Business Insider.

The 4 forces that will challenge the dominance of the dollar, according to economic researchers

<ul class="summary-list"><li>Economists at the Peterson Institute studied what would happen if Trump undermined Fed independence.</li><li>They found that GDP would shrink, inflation would rise, and capital would flow to other countries.</li></ul>In August, Trump floated the idea that, as a successful businessman, he should have "at least" a say in the Federal Reserve's monetary policy.A new study by the Peterson Institute of International Economics, a renowned nonpartisan think tank, found that such an idea could have catastrophic economic consequences. The <a target="_blank" href="https://www.piie.com/sites/default/files/2024-09/wp24-20.pdf">study's lead researchers</a> dug into the economic impact of three of Trump's campaign promises: <a target="_blank" href="https://www.businessinsider.com/trump-mass-deportation-immigraiton-plan-federal-reserve-inflation-2024-9">mass deportations</a>, <a target="_blank" href="https://www.businessinsider.com/jared-golden-10-percent-tariff-bill-trump-2024-9">tariffs</a>, and eroding Fed independence.Throughout the course of a prospective Trump term, <a target="_blank" href="https://www.businessinsider.com/donald-trump-campaign-fed-independence-jerome-powell-interes-rates-politics-2024-4">undermining the central bank's independence</a> would lead to $304 billion in economic losses, the study found. While Trump has not specified exactly how he would interfere in the Fed, the researchers assumed he is successful and <a target="_blank" href="https://www.businessinsider.com/interest-rate-cut-trump-fed-powell-reaction-independence-history-2024-9">pressured the bank to jack up economic growth</a> when conducting their study. They found that such action would result in lower GDP and higher inflation through 2040.Business Insider spoke with one of the study's authors, Warwick McKibbin, a senior fellow at PIIE. He said that initially, GDP and employment would rise, but that inflation and input costs would go up soon after. Eventually, capital would flow out of the US, causing the dollar to fall in value."It's like the party at the front and the hangover after four years," McKibbin said over the phone. He said that by 2028, <a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-inflation-kamala-harris-election-impact-2024-9">inflation would be built into the system</a> at an additional 2% per year and the economy would shrink.Domestic producers would bear the brunt of the consequences due to rising input costs. As domestic goods get more expensive, workers' purchasing power would go down, McKibbin said. All the while, the researchers argue that investors would get spooked by the politicized Fed and start directing their capital to other countries starting around 2026. Production would shift to other parts of the world, including China, the study found."Ironically, it means the rest of the world gets this free lunch because all that capital that would have gone into building America's future growth will now get invested somewhere else, mainly Canada, Mexico, and China, as well as Australia," McKibbin told Business Insider. Though Trump promises an America First economic agenda, McKibbin said that taking control of the Fed would get him the opposite results.According to the study, the economy would hit a low point in 2028 and begin rebounding."But not back to where you were," McKibbin said.He said the capital stock would feel the impact for a long time, and full recovery could take decades.While Trump's specific ideas about the Fed remain murky, some of his allies are quietly drafting plans on how to strip the central bank of independence, <a target="_blank" href="https://www.wsj.com/economy/central-banking/trump-allies-federal-reserve-independence-54423c2f">the Wall Street Journal reported</a>. The 10-page manifesto apparently includes policy shifts and suggests the president should have a direct say over interest rates. Sources told the Journal the group thinks Trump should be able to fire Jerome Powell as Fed chair before his term ends in 2026.Trump hasn't publicly acknowledged the plans and his advisors said they're not endorsed by the campaign. McKibbin and his fellow researchers did not examine Vice President Kamala Harris' policies in the same way because, according to the paper, she has not "proposed any major departures from the Biden administration's policies and none with as significant international economic implications as Trump's."Still, McKibbin said he wishes there was more research on the subject. He doesn't think the public is paying enough attention to the risks of Trump's Fed proposals or the overall murkiness of the candidates' economic policy. Neither Trump nor <a target="_blank" href="https://www.businessinsider.com/what-you-need-to-know-about-kamala-harris-opportunity-economy-2024-9">Harris</a> has shared much about how to <a target="_blank" href="https://www.businessinsider.com/trump-harris-economy-tech-debate-tariffs-taxes-2024-9">enact their proposals</a> or their long-term economic impacts."If you're going to advocate a policy, there has to be evidence as to why you're advocating that policy," McKibbin said.The policy haziness persists even as the <a target="_blank" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5">economy is a top issue for many voters</a> and potentially the deciding issue in the election.

A researcher who studied Trump's plans to control the Fed said it could tank the economy

Sixty-six percent of <keyword id="23012810" type="General" weightage="100" keywordseo="road-traffic-deaths" source="keywords">road traffic deaths</keyword> in <keyword id="19952305" type="General" weightage="20" keywordseo="Southeast-Asia" source="keywords">Southeast Asia</keyword> are of <keyword id="20239488" type="General" weightage="20" keywordseo="pedestrians" source="keywords">pedestrians</keyword>, motorized <keyword id="20937113" type="General" weightage="20" keywordseo="two-wheeler-riders" source="keywords">two-wheeler riders</keyword>, and <keyword id="20007750" type="General" weightage="20" keywordseo="cyclists" source="keywords">cyclists</keyword>, while the highest traffic fatalities in India are among two- and three-wheeler riders, according to the latest <keyword id="20738786" type="General" weightage="20" keywordseo="WHO-report" source="keywords">WHO report</keyword>. The "WHO South-East Asia Regional Status Report on <keyword id="20187029" type="General" weightage="20" keywordseo="road-safety" source="keywords">Road Safety</keyword>" was launched during "Safety 2024", the 15th World Conference on Injury Prevention and Safety Promotion, 2024. According to the World Health Organization (WHO), globally, 30% of reported road traffic deaths involved users of powered two- and three-wheelers. Occupants of four-wheeled vehicles make up 25% of the deaths and pedestrians account for 21 %. Cyclists represent 5% of the deaths. The remaining 20% include occupants of large vehicles, heavy goods vehicles, and other or unknown user types. "In the WHO Southeast Asia Region, the share of reported road traffic deaths is 46% for users of powered two- and three-wheelers, 12 for occupants of four-wheeled vehicles, 17% for pedestrians, 3% for cyclists and 22% for others. In all these countries, vulnerable road users (pedestrians, motorised two-wheeler users and bicyclists) constitute 66% of the total reported road traffic deaths," the report said. "Drivers or riders of two and three-wheelers constitute the highest proportion among all road user categories in India (45.1%), Maldives (100 %), Myanmar (47%) and Thailand (51.4%)," it added. The WHO noted that no country in the South Asian region had achieved the target of reducing its estimated road traffic deaths by 50 %. However, considerable reduction in the WHO's estimated road traffic deaths occurred in the Maldives and Thailand, where estimated road traffic deaths decreased by 46.2% and 41.7 %, respectively. On the contrary, reported road traffic deaths in the region increased by 15 % in the 2010-2021 period. At the country level, no member state of the Southeast Asia Region with more than 10 million population has reported a decrease in road traffic deaths during this period. "However, it should be noted that the reported number of road traffic deaths in Thailand reduced by 22.9% between 2016 and 2021. The estimated road traffic deaths too increased in Bangladesh, India and Nepal during the period 2010-2021 by 23 %, 2% and 25%, respectively," the report said. Etienne Krug, director of the WHO's Department for Social Determinants of Health, said road traffic crashes were a major crisis of the 21st century. "...a large proportion of people who die in road crashes are those who cannot afford to buy a car. This is urgent time to take action. The report reveals that the crisis is huge but we need to understand and act with determination that prevention is possible and needs strict enforcement," he said. The three-day conference is being hosted by the Indian Institute of Technology (IIT), Delhi; George Institute for Global Health in collaboration with the All India Institute for Medical Sciences (AIIMS), National Institute of Mental Health and Neuro Sciences (NIMHANS) and co-sponsored by WHO. "To reduce inequities, we must acknowledge that injuries disproportionately impact vulnerable communities -- because we are far behind in addressing real problems with real solutions. Lived experience shows how policy shapes differential exposure, risk, and outcomes, underscoring the urgent need for change," said Jagnoor Jagnoor, head of injury division at George Institute for Global Health. During the conference, the international experts are uniting with a shared goal of "building a safer future for all: Equitable and sustainable strategies for injury and violence prevention". The conference will focus on five key themes -- improving coordination and collaboration among stakeholders, strengthening capacity for research and practice, integrating injury prevention with global health agendas such as sustainability and equity, empowering communities, and promoting informed policymaking.

Pedestrians, cyclists, two-wheeler riders constitute 66% of road fatalities in Southeast Asia, says a WHO report

<ul class="summary-list"><li>Russia's economy is growing but headed for big trouble, researchers wrote in a recent article. </li><li>They pointed to Russia's outsized military spending, which has come at the cost of its private sector.</li></ul>Russia's wartime economic boom is masking much deeper problems, according to a group of researchers.The authors of a recent article, who hail from institutions including the Yale School of Management, the Wharton School, the Carnegie Endowment, and the Kyiv School of Economics, cast a stark warning for Russia's economic situation despite the nation posting strong growth numbers since its invasion of Ukraine in 2022.Russia's economy is expected to <a target="_blank" href="https://www.imf.org/en/Countries/RUS">expand another 2.4% this year</a>, according to figures from the International Monetary Fund. However, much of that growth stems from the Kremlin's wild spending spree, and Russia's economy is hindered by a number of problems that could set it up for trouble in the long run, the researchers said."The reality of Russia's economic situation is far more complex and concerning than some would have you believe. The productive core of the Russian economy has been severely compromised," the group wrote in <a target="_blank" class="" href="https://fortune.com/europe/2024/08/19/an-economic-catastrophe-is-lurking-beneath-russias-gdp-growth-as-putin-throws-everything-into-the-fireplace/">an op-ed for Fortune</a> this week.Russia has been spending heavily on its military and defense sectors, setting a <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-putin-ukraine-war-military-spending-budget-kremlin-inflation-2023-10">record military budget for 2024</a>. But that spending has come at a cost to Russia's private sector, some economists say, with other areas of its economy being slammed by a <a target="_blank" class="" href="https://www.businessinsider.com/russia-lacks-workers-ukraine-war-labor-crisis-worker-shortage-2023-12">severe shortage of workers</a> as resources get funneled into Russia's invasion of Ukraine.Private firms are showing signs they're unable to keep up with <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-war-spending-casualties-manpower-mobilization-labor-shortage-inflation-2024-8">consumer demand</a>. That imbalance has caused <a target="_blank" class="" href="https://www.businessinsider.com/russia-war-economy-boosts-wages-salaries-beat-inflation-labor-crunch-2024-2">wages</a> and <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-inflation-outlook-ukraine-war-gas-prices-oil-sales-2024-7">inflation</a> to spiral in the nation, prompting central bankers in Russia to <a target="_blank" class="" href="https://www.reuters.com/markets/rates-bonds/russian-central-bank-hikes-rates-by-200-bps-18-highest-more-than-two-years-2024-07-26/#:~:text=MOSCOW%2C%20July%2026%20(Reuters),an%20overheated%20economy%20come%20down.">hike interest rates to 18% in July.</a>"Simply put, Putin's administration has prioritized military production over all else in the economy, at substantial cost," the researchers wrote. Higher borrowing costs could spell trouble for Russian consumers, who are increasingly burdened by debt. <a target="_blank" class="" href="https://www.ceicdata.com/en/indicator/russia/household-debt--of-nominal-gdp">Household debt</a> accounted for 20% of Russia's total GDP at the end of the first quarter, according to CEIC data. Higher interest rates, in that backdrop, could set the nation up for a "looming crisis," the researchers added.Meanwhile, Russia's finances aren't squaring, partly because the nation is taking in less money from its <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russian-energy-revenue-crude-oil-prices-gas-exports-sanctions-ukraine-2024-1">oil and gas trade. </a>The nation is running a 2% budget deficit — which is "significant" by Russia's standards, the researchers added. "In conclusion, the apparent resilience of the Russian economy is largely illusory, built on a precarious foundation of unsustainable government spending and short-term market factors," the researchers wrote. "A looming economic catastrophe driven by the fundamental flaws in Russia's current strategy will likely set the stage for severe long-term consequences that will play out in the years ahead," they added.Experts have warned of a dire future for Russia as it drags its economy through a third year of war. On the extreme end, forecasters are calling for the nation to <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-collapse-recession-moscow-ukraine-war-us-dollar-energy-2024-7">enter a severe recession</a>, with most experts agreeing that the nation has <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-real-situation-economist-ukraine-war-sanctions-growth-inflation-2023-11">poor prospects for long-term growth</a>.

Russia's economic growth is masking a looming 'economic catastrophe,' researchers say

<ul class="summary-list"><li>BCA Research's Peter Berezin cautioned that Fed rate cuts won't "save the day" from a recession.</li><li>Slowdown trends are showing in multiple markets, he wrote in the Financial Times.</li></ul>Interest rate cuts have stalled for too long to be an effective cure-all against a recession, a BCA Research analyst wrote for the <a target="_blank" href="https://www.ft.com/content/c074dde0-7510-44c0-a178-8ca80254dfb1">Financial Times</a>.Chief global strategist Peter Berezin outlined that evidence of a slowing economy can be found at every turn, indicating that the Federal Reserve may be late in slashing rates. The central bank reduces rates to revive the economy, once inflation is at acceptable levels.As inflation has slowed sufficiently, the market forecasts that the Fed is ready to ease rates by a <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html">quarter point in September</a>. But even if the central bank fulfills this expectation, that won't cancel out recessionary risk, Berezin said."The Federal Reserve is unlikely to save the day. The economy succumbed to recession just months after the central bank started lowering rates in January 2001 and September 2007," he wrote.Earlier this summer, Berezin voiced similar concern that a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-prediction-2025-decline-fed-fails-avoid-recession-2024-7">contraction was impending</a> and now reiterated many of the same reasons as to why.These include strained manufacturing activity and increased stress in both residential and commercial property markets. As these sectors fumble with high borrowing costs, they could amplify woes later on.For instance, weak home sales have already caused the number of housing units under construction to sink over 8% this year, Berezin noted. If construction continues to erode, it could trigger a wave of layoffs down the road, he said.Meanwhile, record office vacancies continue to trend higher, offering grim outlooks for lenders in the commercial real estate sector. Given that regional banks are the market's central loaners, they can expect more losses to come, Berezin wrote.In more immediate terms, current recession fears largely hinge on the labor market, after it signaled weakness earlier this summer. All eyes are now on <a target="_blank" href="https://www.businessinsider.com/jobs-report-federal-reserve-cutting-interest-rates-unemployment-economy-recession-2024-8">Friday's jobs report</a>, as any hit or miss in the data could be the difference between relief or panic on Wall Street.Berezin also focused on the job market's health, noting that rising unemployment will likely erode consumer spending habits in the US — a catalyst for more cooling in the economy.If the upcoming nonfarm payrolls print is weaker than expected, some analysts expect that the Fed will cut by 50 basis points this month instead. But that might not make much difference, Berezin said."Even if the Fed does deliver more easing than is currently priced in, the impact will only be felt with a lag," he said.The Fed's failure to prevent a recession would crater the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> to 3,800, he forecast, indicating a nearly 31% decline from current levels. The index's forward price/earnings ratio would fall from 21 to 16, he added.To brace for this outcome, now is the time to embrace bonds, Berezin wrote. While the 10-year Treasury yield remains above 3.7% currently, he expects it to eventually drop to 3% in 2025.Other analysts have made <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-economy-recession-soft-landing-powell-2024-9">similar calls to Berezin</a>. For instance, Renaissance Macro Research chief economist Niel Dutta also considers the Fed as late in cutting, citing that it's difficult to revive a declining labor market.

Fed rate cuts are coming too late to fend off a US recession, research firm says

In a bid to make learning more engaging and stress-free, the <keyword id="22615810" type="General" weightage="20" keywordseo="national-council-for-educational-research" source="keywords">National Council for Educational Research</keyword> and Training (<keyword id="20255499" type="General" weightage="20" keywordseo="NCERT" source="keywords">NCERT</keyword>) has issued guidelines for implementing '<keyword id="22348286" type="General" weightage="100" keywordseo="bagless-days" source="keywords">bagless days</keyword>' for <keyword id="19929042" type="General" weightage="20" keywordseo="students" source="keywords">students</keyword> in classes 6 to 8. This initiative aligns with the recommendations of the <keyword id="19919114" type="General" weightage="20" keywordseo="National-Education-Policy" source="keywords">National Education Policy</keyword> (NEP) 2020, which emphasised the need for a ten-day bagless period for this age group. The guidelines, developed by the Pandit Sunderlal Sharma Central Institute of Vocational <keyword id="19907717" type="General" weightage="20" keywordseo="education" source="keywords">Education</keyword>, aim to integrate these bagless days into the core curriculum rather than treating them as an add-on. The focus is on providing students with hands-on experiences and exposure to the world beyond textbooks. <div type="Article" hostid="261" msid="111815619" title="This school has 12-hour days, &amp;#39;relaxing&amp;#39; meals — and no smartphones" mstype="2" mssubtype="0"></div>During these ten days, students will be encouraged to participate in various activities, including: <ul><li>Internships: Students will have the opportunity to intern with local vocational experts like carpenters, gardeners, and potters, gaining practical skills and insights into potential <keyword id="20082244" type="General" weightage="20" keywordseo="career-paths" source="keywords">career paths</keyword>.</li><li>Field trips: Visits to historical monuments, cultural sites, and higher educational institutions will broaden students' horizons and foster a sense of curiosity.</li><li>Community engagement: Interactions with local artists and craftsmen will expose students to different cultures and traditions.</li></ul>The NCERT believes that these experiences will not only bridge the gap between theoretical knowledge and practical application but also help students make informed decisions about their future careers. Schools are advised to allocate a minimum of ten days or 60 hours for these activities, which can be incorporated flexibly throughout the year. By introducing bagless days, the NCERT aims to create a more holistic and enriching learning environment for students, fostering creativity, critical thinking, and a lifelong love for learning. <div type="Article" hostid="261" msid="108733872" title="New curriculum, books for grades 3-6 from 2024-25, no change in syllabus for other classes: CBSE" mstype="2" mssubtype="0"></div>

NCERT students of classes 6-8 to enjoy 10 ‘bagless days’, internships and field trips

<ul class="summary-list"><li>Fed chair Powell and BOJ governor Ueda are making key statements on Friday.</li><li>Powell's speech at Jackson Hole may signal future US interest rate cuts.</li></ul>It's a busy day for central bank and market analysts.Central banks often make cryptic statements — in part to avoid jolting the markets — so analysts will be busy trying to make sense of public statements from the bosses of the US Federal Reserve and the Bank of Japan on the same day.Fed chair Jerome Powell is set to give a keynote at the central bank's annual economic symposium in <a target="_blank" class="" href="https://www.businessinsider.com/fed-interest-rate-cute-powell-jackson-hole-signal-us-economy-2024-8">Jackson Hole, Wyoming</a> at 10 a.m. EDT on Friday. Investors will be <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-wall-street-how-much-jackson-hole-fed-2024-8">watching</a> for signals around interest rate cuts: when it's coming, its size, and the pace of subsequent cuts.Meanwhile, Kazuo Ueda, the governor of the Bank of Japan, sat through five hours of grilling in parliament on Friday, weeks after the central bank's rate hike sent <a target="_blank" class="" href="https://www.businessinsider.com/markets-japan-rate-hike-yen-fx-carry-trade-stock-futures-2024-8">global markets plunging</a> in early August.<a target="_blank" class="" href="https://www.kansascityfed.org/research/jackson-hole-economic-symposium/jackson-hole-economic-policy-symposium-structural-shifts-in-the-global-economy/">Ueda was a panelist at the Jackson Hole symposium</a> last year, so there was speculation that he is missing the by-invite-only event this year due to the special parliamentary hearing at home. However, sources told <a target="_blank" class="" href="https://www.nikkei.com/article/DGXZQOUB2196D0R20C24A8000000/">Japanese media</a> that the decision not to attend was made earlier.At Friday's hearing, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-23/boj-s-ueda-still-plans-to-hike-rates-if-economy-meets-outlook?ref=biztoc.com">Ueda attributed</a> the market volatility early this month to "overdone" concerns over the US economy. Ueda also said the central bank plans to hike rates if Japan's inflation continues to move toward its 2% inflation target."There is no change to our basic stance that we will adjust monetary policy as we gain confidence in the likelihood" of the economy achieving the inflation target, said Ueda, per <a target="_blank" class="" href="https://asia.nikkei.com/Economy/Bank-of-Japan/BOJ-Gov.-Ueda-restates-stance-on-policy-normalization-after-market-rout">Nikkei.</a><h2 id="005ed888-64ec-452e-a2b0-dee943451d1f">BOJ rate hike to carry chaos</h2>Japan has been mired in deflation for decades, so the BOJ has been trying to stimulate the country's economy all this while. Now, Ueda has the tough job of weaning the economy off the stimulus without causing shocks domestically — and internationally.Post-pandemic, the Fed's rate hikes have complicated the BOJ's job, as higher rates in the US encouraged dollar-denominated investments, boosting the dollar. This, in turn, battered the Japanese yen, which hit a near <a target="_blank" class="" href="https://www.reuters.com/markets/currencies/dollar-defensive-amid-lower-yields-yen-hovers-near-38-year-trough-2024-07-03/">four-decade low.</a>The depressed yen made imports expensive for Japan. So while it was good for the country's fight against deflation, a quick decline in the yen also caused other problems, like depressed consumption.To support the yen, the BOJ lifted its ultra-low rates in late July. However, the world's financial system is so entwined that the move unraveled <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-yen-carry-trade-unwind-fed-japan-rates-2024-8">carry trades</a> that had a domino impact on the world's markets.Days after the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-asia-nikkei-kospi-taiex-asx-recent-lows-2024-8">historic market rout</a> in early August, the <a target="_blank" class="" href="https://www.businessinsider.com/market-crash-japan-central-bank-boj-cools-interest-rate-hike-2024-8">BOJ walked back</a> on more hikes in the short term. But Ueda's Friday statement affirmed more hikes — although he also said he would carefully communicate the BOJ's thinking going forward."We will continue to monitor the situation closely with a very high sense of urgency," he said, per Nikkei.The BOJ's closely-watched <a target="_blank" class="" href="https://asia.nikkei.com/Economy/Inflation/Japan-s-inflation-accelerates-for-third-consecutive-month-in-July">"core-core" inflation rate</a> was 1.9% in July — below the central target.Despite Japan's difficulties in boosting inflation, the BOJ's current policy rate around 0% is still too low, so the central bank is likely to continue hiking rates even if inflation dips below 2%, wrote Takahide Kiuchi, an executive economist at the <a target="_blank" class="" href="https://www.nri.com/jp/knowledge/blog/lst/2024/fis/kiuchi/0823">Nomura Research Institute,</a> on Friday.However, given the volatility in stock and the yen following the central bank's last rate hike, it's likely to move cautiously, added Kiuchi, a former BOJ policy board member.Kiuchi expects the BOJ to hike rates next in January.

Powell's not the only central banker in the spotlight. Away from Jackson Hole, one chief had to endure 5 hours of intense questioning.

New Delhi: India's Consumer Price Index (<keyword id="20468215" type="General" weightage="20" keywordseo="CPI" source="keywords">CPI</keyword>) <keyword id="19895000" type="General" weightage="100" keywordseo="inflation" source="keywords">inflation</keyword> dropped to 3.54 per cent in July 2024, its lowest in nearly five years, largely driven by a decline in <keyword id="20028256" type="General" weightage="20" keywordseo="vegetable" source="keywords">vegetable</keyword> <keyword id="19900607" type="General" weightage="20" keywordseo="prices" source="keywords">prices</keyword>. However, despite this positive development, the <keyword id="19934368" type="General" weightage="20" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> (<keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword>) has cautioned that the path forward may be challenging, according to the SBI research report. The dramatic reduction in vegetable inflation, which plummeted from 29.3 per cent in June to a mere 6.8 per cent in July, played a crucial role in achieving this multi-year low. The weighted contribution of vegetables to the overall CPI also shrank from 1.77 per cent in June to 0.55 per cent in July, underscoring their impact on the headline inflation figure. Additionally, the prices of fruits and fuel showed signs of moderation, contributing further to easing inflationary pressures. However, this broad-based relief was tempered by a slight uptick in core CPI inflation, which excludes food and fuel prices. The SBI's latest report highlights that the once-dominant "Follow the Fed" mantra appears to be waning, with an increasing number of central banks prioritizing domestic economic conditions over synchronizing with U.S. rate decisions, signaling a shift in global <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">monetary policy</keyword> dynamics. This decline in CPI marks the first time in half a decade that CPI inflation has dipped below the Reserve Bank of India's (RBI) target of 4 per cent, a feat largely attributed to a steep fall in vegetable prices. Core CPI rose from 3.12 per cent in June to 3.30 per cent in July, driven primarily by an increase in mobile tariffs. Notably, the transport and communication segment saw inflation rise sharply from 0.97 per cent in June to 2.48 per cent in July, indicating sector-specific pressures. The moderation in food inflation, which stood at 5.06 per cent year-on-year in July, was significantly influenced by a higher base effect. Despite this, concerns persist over the uneven distribution of monsoon rainfall, particularly in key foodgrain-producing states experiencing deficient precipitation. With La Nina conditions gaining strength, the possibility of excessive rainfall in August and September looms large, raising fears of crop damage that could reignite food price inflation. Looking ahead, inflationary pressures may persist, potentially exceeding the RBI's forecast of 4.5 per cent for FY25. The domestic growth momentum remains robust, with GDP expected to surpass 7 per cent in Q1 FY25. However, geopolitical uncertainties continue to pose risks to the growth outlook. The RBI, maintaining a tight liquidity stance to control inflation, has deferred potential rate cuts to December 2024 or February 2025. State-wise analysis reveals that the majority of states recorded CPI inflation rates below the national average, with only six out of 22 states experiencing higher-than-average inflation. Despite this, significant rural-urban inflation differentials were observed, with most states seeing higher inflation in rural areas compared to urban counterparts. Only four states reported higher urban inflation. Historically, when the U.S. Federal Reserve adjusts its interest rates, global capital flows are impacted, prompting central banks in emerging markets to follow suit. However, while the Fed's recent rate hike cycle (2022-2023) saw a synchronized global response, the current rate-cutting phase is proving to be less coordinated. Central banks in countries like China, Chile, Brazil, Mexico, the UK, Canada, and the European Central Bank have already begun reducing rates, while the Fed is expected to initiate cuts in September 2024. India's Index of Industrial Production (IIP) grew by 4.2 per cent in June 2024, down from a revised 6.2 per cent in May. The mining sector led the growth with a 10.3 per cent increase, followed by electricity at 8.6 per cent and manufacturing at 2.6 per cent. For the April-June 2024 period, industrial growth stood at 5.2 per cent, compared to 4.7 per cent in the same period the previous year. As India navigates the delicate balance between growth and inflation, the coming months will be critical in shaping the country's economic trajectory, especially with potential global shifts in monetary policy and the evolving monsoon season.

CPI inflation drops to lowest in five years but road ahead could be bumpy: SBI Report

Global brokerage firm <keyword id="19977638" type="General" weightage="20" keywordseo="Morgan-Stanley" source="keywords" meta.keywordsubtype="org" meta.entityname="Morgan Stanley" meta.hostid="261" meta.entityid="Morgan Stanley">Morgan Stanley</keyword> expects <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword>'s upcoming <keyword id="19936553" type="General" weightage="100" keywordseo="Budget" source="keywords">Budget</keyword> to focus on the government's <keyword id="20634687" type="General" weightage="20" keywordseo="road-map" source="keywords">road map</keyword> for '<keyword id="19916816" type="General" weightage="20" keywordseo="Viksit-Bharat" source="keywords">Viksit Bharat</keyword>' by 2047 and spell out the <keyword id="22362494" type="General" weightage="20" keywordseo="medium-term-plan" source="keywords">medium-term plan</keyword> for <keyword id="20101140" type="General" weightage="20" keywordseo="fiscal-consolidation" source="keywords">fiscal consolidation</keyword>. "With fiscal prudence guiding the overall fiscal policy stance, we expect the focus to remain on <keyword id="22362493" type="General" weightage="20" keywordseo="capex-expenditure" source="keywords">capex expenditure</keyword> over revenue expenditure and targeted social sector spending with a focus on improving access to physical, social and digital infrastructure," said Morgan Stanley's research report on Wednesday. Sitharaman is scheduled to present the full Budget for fiscal 2024-25 on July 23, which will be the first major policy document of the new government. The brokerage firm expects the central government's fiscal deficit target to be retained at 5.1 per cent of GDP in 2024-25 in line with the interim budget (against 5.6 per cent of GDP in 2023-24) and to be on track to attain the target of 4.5 per cent of GDP by the next financial year. "The fiscal headroom has improved with a larger-than-expected transfer of surplus from the RBI, which, in our view, will help to maintain the momentum on capex expenditure and increase targeted welfare spending. In this context, we see the possibility of a slightly lower fiscal deficit target (tad below 5.1 per cent of GDP), given the support from tax and non-tax revenues," it said. It also expects the Budget to provide focus on the government's road map for 'Viksit Bharat' (developed nation) by 2047. In addition, the budget could also give a road map for a medium-term plan for fiscal consolidation beyond 2025-26, it added. The report said the impact of the Budget on the stock market has been on a secular decline, albeit actual performance is a function of pre-budget expectations (as measured by market performance ahead of the budget). As of now, the market seems to be approaching the Budget with exuberance and could be dealing with both volatility and a correction post-budget, if history is a guide, it said.

Morgan Stanley expects Budget to focus on road map for 'Viksit Bharat'

Mumbai, A special PMLA court here on Thursday remanded <keyword id="6358200" type="General" weightage="50" keywordseo="jet-airways" source="Orion">Jet Airways</keyword> founder <keyword id="122732" type="General" weightage="50" keywordseo="naresh-goyal" source="Orion">Naresh Goyal</keyword> in 14-day judicial custody in a money laundering case linked to an alleged fraud of Rs 538 crore at the Canara Bank. The court accepted <keyword id="6361408" type="General" weightage="100" keywordseo="goyal" source="Orion">Goyal</keyword>'s request to send him to the Arthur Road jail in South Mumbai. The <keyword id="6357808" type="General" weightage="50" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) arrested Goyal on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office here. The 74-year-old businessman was produced before the special judge for cases under PMLA, MG Deshspande, at the end of his ED remand on Thursday. The court remanded him in judicial custody as no further remand was sought by the probe agency. The court also accepted Goyal's request to send him to the Arthur Road jail in Byculla instead of Taloja jail in Navi Mumbai. Later, Goyal moved an application saying he suffers from a host of health issues and requested that he be allowed to undergo daily medical checkups by his family physician, specialist consulting doctors and personal doctors, and be provided with medical facilities on a regular basis during his stay in the jail. In the application, Goyal said he was suffering from ischemic heart disease and was operated at the <keyword id="6425633" type="General" weightage="50" keywordseo="asian-heart-institute" source="Orion">Asian Heart Institute</keyword> for "treatment of 80 per cent of blockages in his left main artery which is a life threatening condition". His plea said he also has hypertension, diabetes, restricted mobility, severe shoulder impingement and neck pain due to a fall in June 2022. In another application, Goyal sought appropriate bedding on a daily basis considering his medical conditions and home-cooked food as per dietary prescription. The court has asked the prosecution to file its say on Goyal's applications. The money laundering case stems from an FIR of the <keyword id="6354889" type="General" weightage="50" keywordseo="central-bureau-of-investigation" source="Orion">Central Bureau of Investigation</keyword> (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives of the now-grounded private airline in connection with an alleged Rs 538-crore fraud case at the Canara Bank. The FIR was registered on the bank's complaint which alleged that it sanctioned credit and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore of which Rs 538.62 crore was outstanding.

You Searched For "Central Road Research Institute" and got 13 results

The economy is at a fork in the road

Juliana Kaplan,Madison Hoff,A…

Honda begins joint research with IIT Delhi, Bombay on AI technologies

PTI

Research unveils the key moment that transformed chickens into the economically relevant animals that they are today

Kunal Kambli

The 4 forces that will challenge the dominance of the dollar, according to economic researchers

Jennifer Sor

A researcher who studied Trump's plans to control the Fed said it could tank the economy

Alice Tecotzky

Pedestrians, cyclists, two-wheeler riders constitute 66% of road fatalities in Southeast Asia, says a WHO report

PTI

Russia's economic growth is masking a looming 'economic catastrophe,' researchers say

Jennifer Sor

Fed rate cuts are coming too late to fend off a US recession, research firm says

Filip De Mott

NCERT students of classes 6-8 to enjoy 10 ‘bagless days’, internships and field trips

BI India Bureau

Powell's not the only central banker in the spotlight. Away from Jackson Hole, one chief had to endure 5 hours of intense questioning.

Huileng Tan

CPI inflation drops to lowest in five years but road ahead could be bumpy: SBI Report

ANI

Morgan Stanley expects Budget to focus on road map for 'Viksit Bharat'

PTI

Jet Airways founder Naresh Goyal sent to 14-day judicial custody

PTI

Popular Keywords

Buying Guides