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The <a href="http://www.businessinsider.in/searchresult.cms?query=GST&amp;sortorder=effectivedate">GST Bill</a> has been passed in the Rajya Sabha and now it will go to the <a href="http://www.businessinsider.in/searchresult.cms?query=gst+council&amp;sortorder=effectivedate">GST council</a> for setting down the <keyword id="6412918" type="UNKNOWN" weightage="20" keywordseo="GST-rate">GST rate</keyword> in consultations with the states. 
 
The Council will now have to tread carefully after <a href="http://www.businessinsider.in/searchresult.cms?query=arun+jaitley&amp;sortorder=effectivedate">Finance Minister Arun Jaitley,</a> while presenting the GST Bill in the Rajya Sabha, said the GST rate is likely to be between 18 and 20 per cent, as advised by the chief economic adviser. 
 
As per economists, the GST rate of 18-20 per cent will cause mild <a href="http://www.businessinsider.in/searchresult.cms?query=inflation&amp;sortorder=effectivedate">inflation</a> and if it is kept higher than 20 per cent, it will lead to high inflation. 
"The more you move away from the standard rate of 20%, the inflationary pressures will rise. Inflationary pressures will depend on how the RNR (revenue-neutral rate, or the rate at which tax revenues will remain the same for Centre and states) is split between standard and low rate," Abheek Barua, chief economist at HDFC Bank, told ET. 
 
"There will be mild inflation...services would become expensive," DK Joshi, chief economist at ratings agency Crisil, told ET, adding “the inflationary pressures will reduce in the medium term because of efficiency gains. 
 
During the GST debate in the Rajya Sabha, former Finance Minister P Chidambaram said if the service tax rate is increased to 23-24%, it will lead to huge inflation and will lead to a backlash. 
 
(Image: Reuters)

GST Council to walk a tightrope while deciding GST rate between 18-20%

A rise in projects under implementation as well as a decline in the number of stalled projects point towards the fact that there is a pickup in economic activities. 
 Data released by independent economy tracker <keyword id="6493461" type="ORGANIZATION" weightage="100" keywordseo="CMIE">CMIE</keyword> showed an 8.4per cent rise in projects under implementation in the quarter ended June 30, fastest since the September 2012 quarter. 
 Private sector projects under implementation rose 0.8 per cent in the June quarter, the first expansion in eight quarters, providing boost to the <keyword id="6387077" type="ORGANIZATION" weightage="80" keywordseo="Narendra-Modi-government">Narendra Modi government</keyword> that has faced criticism of late for a slackening of reforms. 
 "Bottom line from this quarter's release is that the data looks encouraging with projects under implementation improving for the fourth quarter," <keyword id="48670" type="CITY" weightage="100" keywordseo="Morgan-Stanley">Morgan Stanley</keyword> noted in a report analysing the CMIE data. 
 
Another report said the stock of stalled projects has declined for the fifth successive quarter. 
 From a peak of 8.4 per cent of <keyword id="35050" type="CITY" weightage="80" keywordseo="gdp">GDP</keyword> in the quarter ended March 31, 2014, stalled projects' stock declined to 6.6 per cent in June 2015 quarter, helped by the government's emphasis on capital spending at the start of the new fiscal. 
 "Since March 2014, projects worth about 2 per cent of GDP have been installed. Progressing steadily, they have now reached a critical mass and can potentially start impacting domestic activity notably," <keyword id="6358584" type="CITY" weightage="100" keywordseo="HSBC">HSBC</keyword> noted in a report, which however also noted that new projects were conspicuous by their absence. This view is consistent with a rise in production of capital goods as per <keyword id="6427912" type="ORGANIZATION" weightage="80" keywordseo="IIP">IIP</keyword> data. 
 
Investments worth Rs 1.15 lakh crore were announced during the June quarter, a 33 per cent rise from a year ago but on a weak base, CMIE had said on July 1. 
 
Also, the first quarter of fiscal 2015-16 saw around 165 projects getting scrapped, which is up from 106 projects stalled in June 2014 quarter. 
 
A heavily indebted private sector has largely been unable to step up investment in the face of weak demand while banks, struggling with bad loans, are finding it difficult to cut rates or lend more to stimulate consumption. 
 
Further, bank credit growth fell to lowest in more than two decades in FY15. 
 
 
 
Further, bank credit growth fell to lowest in more than two decades in FY15. 
 
"Broad-based recovery seems far off. There might be green shoots here but both domestic and external demand remains extremely weak. There are noisy signals in the economy. Private investments will still take time to pick up. We should see action in the infra sector, which should push investment, but the financial institutions data does not reflect that. Who would lend to the infra sector at this juncture," said DK Joshi, chief economist, Crisil. 
 
Morgan Stanley says recent government action should sustain the revival in capital expenditure. 
 
"We believe that recent government action to accelerate the pace of medium term reforms (addressing issues related to land, labour and taxation) will help sustain the recovery in capex..." the report, authored by Chetan Ahya, Upasana Chachra and Nupur Gupta, noted. 
 It sees the economy growing at 6.5 per cent in FY16 as per the old GDP series, by which measure growth in FY14 was 4.9 per cent. Under the new GDP methodology <keyword id="6356076" type="UNKNOWN" weightage="100" keywordseo="indian-economy">Indian economy</keyword> expanded by a perkier 7.3 per cent in FY15 and is expected to accelerate to near 8 per cent in the current year. 
 
 
 
HSBC said that installing projects would provide momentum for some time in the absence of new factories and mines. 
 
 
 
"True, new projects are not showing any increase, but they may not really be the right indicator to track turning points. Right now, resolving a substantial number of stuck projects could in itself trigger notable investment spending," said Pranjul Bhandari, chief India economist, urging government to get state-run companies to step up investments. 
 
Much of the improvement is visible in the roads and railways sector where higher spending and policy initiative has resulted in investment picking up. 
 
In the April-May period, the government has managed to spend 14.8 per cent of its budgeted spending for the year. Within that, 13 per cent of plan funds for the entire year have been spent in the first two months, a fast start to the year. 
 
Many economists caution that investment activity remains weak. "While macro numbers, right from inflation to current account look under control, the domestic private investment remains weak. 
 
The credit growth does not show that manufacturing pickup is on way. It will take a while to gather momentum. As far as project implementation numbers go, they are coming from a very low base. Government's planned capital expenditure slowed down in May versus April," said Soumya Kanti Ghosh, chief economic advisor, SBI. 
 
(image credits: unep.org)

Rise in under-implementation projects indicates pickup in economic activities

Just a few months after relaxing the <keyword id="446542" type="UNKNOWN" weightage="100" keywordseo="gold-import">gold import</keyword> rules, the government is now planning to re-impose the curbs as the country's fascination for gold has led to a surge in the import of gold. 
 The revenue department of the <keyword id="47209" type="ORGANIZATION" weightage="80" keywordseo="Finance-Ministry">Finance Ministry</keyword> has asked the <keyword id="144110" type="ORGANIZATION" weightage="100" keywordseo="Department-of-Economic-Affairs">Department of Economic Affairs</keyword> (DEA) and the <keyword id="6354335" type="CITY" weightage="80" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) to reconsider the May 21 relaxation in the import rules. 
 
The RBI had relaxed the 80:20 rule, as it is called, in May at the behest of the Finance Ministry. Under this rule, nominated agencies were allowed to import gold provided they agreed to export 20% of the import. 
 
In September, the trade deficit increased to an 18-month high of $14 billion following a 450% increase in gold imports as importers were in a hurry to take advantage of the relaxation. "Gold imports have risen since the norms were relaxed...There is a concern. We have written to the DEA and the RBI," said a finance ministry official." 
 
Experts welcomed the move. "Given the country's dependence on imported commodities and fluctuation in currency, government will take all steps to address any factor that seeks to threaten macroeconomic stability of the country," said DK Pant, chief economist, India Ratings.

Government Mulls Re-imposing Gold Import Curbs To Control Trade Deficit

<ul class="summary-list"><li><keyword id="3981630" type="PERSON" weightage="60" keywordseo="tyreek-hill">Tyreek Hill</keyword> made an impressive chase-down tackle on Falcons linebacker Foyesade Oluokun after an interception on Sunday.</li><li>Hill's play immediately drew comparisons to a chase-down tackle that Seahawks receiver D.K. Metcalf made earlier in the year.</li><li>Hill previously said he would never make a chase-down tackle because his quarterback would never throw an interception like that.</li><li>On Sunday, though, Hill was ready for the action when the moment came.</li></ul>Tyreek Hill made an impressive tackle on Falcons linebacker Foyesade Oluokun to save a touchdown after a costly interception from Patrick Mahomes.The play came in the third quarter of Sunday's matchup between the Chiefs and Falcons. Mahomes threw the pick while the Kansas City offense was in the red zone, with Oluokun immediately breaking the other way for what looked like a potential touchdown.But Hill, one of the fastest players in the <keyword id="103436" type="ORGANIZATION" weightage="60" keywordseo="NFL">NFL</keyword>, cut off Oluokun before he fully broke free, punching the ball out of his hands out of bounds to prevent the pick-six.It was a fantastic play by Hill, and one that he had previously said he would never have to make.When <a href="https://www.insider.com/video-dk-metcalf-chase-tackle-seahawks-cardinals-2020-10" target="_blank" rel="noopener">Seahawks wide receiver D.K. Metcalf pulled off a similar chase-down tackle</a> earlier in the season, Hill was asked if he would have been able to pull off the play."The DK Metcalf play, that was a real nice play," Hill <a href="https://profootballtalk.nbcsports.com/2020/10/31/tyreek-hill-id-never-make-the-dk-metcalf-play-because-my-qb-wouldnt-throw-the-pick/" target="_blank" rel="noopener">said at the time</a>. "But unfortunately for me, I would never be able to showcase that because Patrick never throws interceptions."At the time, Hill was right to be confident in his prediction - through the first 12 games of the season, Mahomes had thrown just two interceptions.Still, the Chiefs were lucky that Hill was ready to snap into action when the moment came, regardless of what he had said in the past.

Tyreek Hill pulled off an impressive chase-down tackle after previously saying it was a play he would never have to make

India is not growing at a seven per cent rate as being reported by the government, an eminent Indian-origin economist has claimed, citing flat growth in several key sectors, according to a <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> news report. "They (India's national accounts) show India's growing at seven per cent a year. But I along with many other economists, I'm afraid don't believe the national accounts. They were redone in 2011," Vijay R Joshi, Emeritus Fellow of Merton College, Oxford and Reader Emeritus in Economics, University of Oxford, told a <keyword id="6354998" type="COMPANY" weightage="20" keywordseo="Washington">Washington</keyword> audience. Joshi, the author of a book titled 'India's Long Road--The Search for Prosperity' alleged that India's growth rate is back at 5.5 per cent, but the national accounts show a much rosier picture. During a discussion organised by the <keyword id="468500" type="ORGANIZATION" weightage="20" keywordseo="Carnegie-Endowment-for-International-Peace">Carnegie Endowment for International Peace</keyword>, a top American think-tank, the London-based economist gave several reasons to prove his point. "I will say one thing, (India's national accounts) is the only place where you can see seven per cent growth. You can't see it anywhere else. If you look at exports and imports, they have been flat. Shrinking or flat or growing very slowly. If you look at employment in the organised sector it's at a standstill," he argued. "If you look at industrial production, it has been growing very slowly. If you look at <keyword id="6355272" type="CITY" weightage="20" keywordseo="Bank">bank</keyword> credit, it has been growing very slowly. Bank credit in the industry has grown poorly in recent years," he asserted. "And especially if you look at investment, it has collapsed. The investment ratio which was 34 per cent of GDP in 2011 is now 27 per cent of GDP. So investment has really collapsed. (Thus) it is hard to believe that national income is growing at seven per cent a year," Joshi said. Responding to questions, Joshi said that under the present trends, India is unlikely to grow at seven-nine per cent a year for the next 25 years. "Not on present trends. Not unless we really gour act together. We can probably continue to grow at 5-5.5 per cent a year," he said, adding that a long-term growth rate of seven to nine per cent a year is a feat that has rarely been achieved by a democratic country like India. "This is a feat that has been achieved very rarely. It has been achieved only by three countries. That is China, South Korea, and <keyword id="46274" type="COUNTRY" weightage="20" keywordseo="Taiwan">Taiwan</keyword> and perhaps Singapore." Responding to another question, Joshi said while the Indian government led by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> has done quite well, but it has completely neglected the education and health sectors.

Economist claims India’s growth rate is fictitious

<a title_source="REUTERS/Eric Vidal " title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/54a3b899dd089587408b45cd-960/peter-praet.jpg"></a>REUTERS/Eric Vidal After months underplaying the risks of deflation, it looks like the European Central Bank (ECB) is now finally resigned to it.
Chief economist Peter Praet admitted in an interview released this morning that inflation figures will spend a large part of 2015 in negative territory, and offered some of the biggest hints so far on what Europe's QE programme is going to look like.
Praet was interviewed by <a href="https://www.boersen-zeitung.de/index.php?li=300&amp;artid=2014249002">German financial newspaper Boersen Zeitung</a>, and there's a <a href="http://www.bloomberg.com/news/2014-12-30/praet-warning-of-second-round-effects-raises-qe-chances-for-ecb.html">Bloomberg translation of his comments here</a>.
Spain's inflation figures, released yesterday, show the major effect that tumbling oil prices are likely to have. Prices dropped 1.1% in the year to December, the fastest drop in five years, and far faster than analysts expected.&#xa0;
Eurozone inflation was last at 2% at the beginning of 2013, and has been steadily dropping ever since. It's been below 1% for all of 2014, and a dip into deflation is now all but guaranteed in the new year. Here's that plunge:

Deflation c<a href="http://uk.businessinsider.com/europe-and-deflation-2014-10?r=US">an cause a host of economic problems</a>, especially for countries where the governments are heavily indebted and don't control their own currencies.&#xa0;
Praet's comments are some of the most dovish come from the ECB, making it sound all but guaranteed that the central bank will start a quantitative easing programme in January. He's also given a hint towards the makeup of the likely QE programme, saying that government bonds are "the only type of bond in which there is a significant market volume".
Unlike Germany's Bundesbank chief Jens Weidmann, who has argued that <a href="http://uk.businessinsider.com/r-ecbs-weidmann-says-german-2015-growth-may-be-better-than-expected-2014-12">the ECB should effectively ignore falling oil prices</a>, Praet says that with expectations for future inflation now "extremely fragile", the ECB must act to bring inflation upwards.
Wolfgang Schaeuble, Germany's finance minister, has also <a href="http://uk.reuters.com/article/2014/12/27/uk-ecb-assetpurchases-schaeuble-idUKKBN0K417A20141227">hit out at suggestions that Europe needs Q</a>E. The new programme could widen a major rift in Europe, with some of the bloc's healthier economies <a href="http://uk.businessinsider.com/europes-central-bankers-are-now-brutally-divided-2014-12">staunchly opposed to easier policy for the others</a>.&#xa0;

Europe's Chief Economist Says Deflation Is Coming 

New Delhi: While the <keyword id="20199673" type="General" weightage="20" keywordseo="moderation" source="keywords">moderation</keyword> in <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> is a welcome development, experts caution that the road ahead could be bumpy. The sequential momentum in <keyword id="19960157" type="General" weightage="20" keywordseo="food-prices" source="keywords">food prices</keyword> remains strong, with a 2.5 per cent month-on-month increase in prices, higher than the average sequential growth, indicating that inflationary pressures may persist. The uneven distribution of monsoon rainfall and the potential for excess rainfall in the coming months pose additional risks to food prices. RajSinha, Chief Economist at CareEdge, noted, "Despite the moderation in the inflation of the food and beverage basket when compared to last year, the sequential momentum remains strong, with a 2.5 per cent M-o-M increase in prices, higher than an average sequential grow." Dharmakirti Joshi, Chief Economist at CRISIL, highlighted the impact of the high-base effect, stating, While the high-base effect -- along with sequential monthly movements -- was supportive of food inflation, it had an adverse bearing on core inflation. The big worry now is food prices continue to be elevated with the on-month rise slightly higher than usual for July. "The good part is monsoon and sowing have been progressing well and the expectation is that the arrival of fresh supplies in the market should over the next few months curb the food price rise. Overall, though, we expect inflation to ease and average 4.5 per cent this fiscal mostly due to softer food prices. This should allow the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> to begin cutting earliest by October", Joshi added. Raghvendra Nath, Managing Director of Ladderup Wealth Management, expressed optimism regarding the CPI data, stating, "This decline is primarily attributed to a reduction in the Consumer Food Price Index, which fell from 9.36 per cent in June to 5.42 per cent in July. This improvement should offer reassurance to the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI), which has indicated that <keyword id="19920341" type="General" weightage="20" keywordseo="rate-cuts" source="keywords">rate cuts</keyword> will occur only when inflation sustainably aligns with its 4 per cent target. He added, "Positive expectations for the monsoon and adequate buffer stocks support the continued downward trend of CPI. However, any substantial rise in crude oil prices due to the ongoing geopolitical crisis could adversely affect inflation and the broader economy." Sanjeev Agrawal, President of the PHD Chamber of Commerce and Industry, also commended the decline in CPI inflation, stating, "It is highly appreciable that the CPI inflation has exhibited a decline in the year-on-year inflation rate at 3.5 per cent for the month of July 2024 from 5.08 per cent in June 2024." He added, "The food and beverages inflation eased sharply from 8.4 per cent in June 2024 to 5.06 per cent in July 2024 and fuel and light inflation from -3.7 per cent in June 2024 to -5.4 per cent in July 2024, are the main drivers of the softening inflation trajectory." India's Consumer Price Index (CPI) inflation eased significantly to 3.54 per cent in July 2024, marking its lowest level in nearly five years and a sharp drop from 5.08 per cent in June. This decline, which brought inflation below the Reserve Bank of India's (RBI) medium-term target of 4 per cent for the first time since 2019, has been largely attributed to a favourable base effect and a dramatic reduction in <keyword id="20621131" type="General" weightage="20" keywordseo="vegetable-prices" source="keywords">vegetable prices</keyword>. The primary driver behind this sharp moderation was the steep fall in vegetable inflation, which plummeted from 29.3 per cent in June to 6.8 per cent in July. The Consumer Food Price Index (CFPI) also saw a significant reduction, falling from 9.36 per cent in June to 5.42 per cent in July, contributing to the overall easing of CPI inflation. (ANI)

Experts welcome moderation of inflation in July, by warns of continued inflationary pressure ahead

As <keyword id="10387" type="COMPANY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> plans to reopen its US-based headquarters and nearby campuses from March 29, a new survey by the tech giant revealed on Tuesday that 73 per cent of workers want flexible <keyword id="1591611" type="PERSON" weightage="20" keywordseo="remote-work">remote work</keyword> options to continue globally, as hybrid work is set to become the next great disruption. Remote job postings on Microsoft-owned <keyword id="28120" type="COMPANY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword> has increased more than five times during the pandemic. "Over 40 per cent of the global workforce is considering leaving their employer this year and 46 per cent are planning to move now that they can work remotely," according to the Microsoft's ‘2021 Work Trend Index'. "The choices you make today will impact your organisation for years to come. It's a moment that requires clear vision and a growth mindset," says Jared Spataro, Corporate Vice President for Microsoft 365. "These decisions will impact everything from how you shape culture, to how you attract and retain talent, to how you can better foster <keyword id="6379846" type="UNKNOWN" weightage="20" keywordseo="collaboration">collaboration</keyword> and innovation," he added. Time spent in meetings has more than doubled globally and over 40 billion more emails were delivered in the month of February of this year compared to last year. "Collaboration trends in Microsoft Teams and Outlook suggest our networks have contracted but hybrid work will revive them," the survey noted. Nearly 40 per cent of those surveyed said they feel more comfortable bringing their full selves to work than before the pandemic and one in six have cried with a colleague this year. The ‘2021 Work Trend Index' outlined findings from a study of more than 30,000 people in 31 countries and analyses trillions of aggregate productivity and labour signals across Microsoft 365 and LinkedIn. "This is the time for business leaders to take the opportunity to access to different skills and talent not previously available to them," said Karin Kimbrough, <keyword id="69755" type="PERSON" weightage="20" keywordseo="Chief-Economist">Chief Economist</keyword>, LinkedIn. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/how-to-fix-android-apps-crashing-issue-on-your-mobile/articleshow/81646271.cms">Android apps are crashing and Google is working on a fix – here’s how to fix the issue</a> <a href="https://www.businessinsider.in/finance/banks/news/indias-supreme-court-waives-compound-interest-on-all-loans-put-under-moratorium-due-to-covid-19-pandemic/articleshow/81645705.cms">India’s Supreme Court waives compound interest on ALL loans put under moratorium due to COVID-19 pandemic</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-oneplus-9-and-oneplus-watch-to-launch-in-india-today-how-to-watch-live-stream-price-features-and-more/articleshow/81644503.cms">OnePlus 9 Pro, OnePlus 9 and OnePlus Watch to launch in India today – How to watch live stream, price, features and more</a>

Around 73% of employees want flexible remote work options to continue, says Microsoft's '2021 Work Trend Index'

<div class="KonaFilter image-container float_right"><div class="image on-image"></div></div>Google chief economist Hal Varian says that we're grossly underestimating the productivity benefits we're getting from robots and other forms of automation.Speaking at a Churchill Club forum in San Francisco last night alongside Paul Thomas (Chief Economist, Intel) and Jaana Remes (Partner, McKinsey Global Institute), he mentioned on multiple occasions that he views productivity as the true driving force of the global economy going forward.But we're not measuring it right.According to him, the issue with using GDP as a measure is that it doesn't take into account robots, which he claims are all in transaction costs:"The first invasion of the robots...washing machines, dryers, vacuum cleaners, dish washers, lawn mowers, et cetera...they showed up in domestic production but weren't in GDP, because it's not a monetized sector."The key to economic growth, he says, is in the time-savings that come from automation:"The paradox...is that everybody wants less work but more jobs. This idea that the robots are going to come and take away our jobs seems to be vastly overblown...they haven't destroyed jobs, they've typically destroyed work. People...have offloaded these unpleasant tasks to computers."Google wants this to be true, <a href="http://www.ft.com/cms/s/0/bbea6a02-ab92-11e4-8070-00144feab7de.html#slide0">since they are a leading company</a> in this era of complete automation. At the same time, <a href="http://www.technologyreview.com/view/519241/report-suggests-nearly-half-of-us-jobs-are-vulnerable-to-computerization/">researchers from Oxford say</a> that 45% of American jobs will be automated in the next 20 years.<a href="http://www.wsj.com/articles/what-clever-robots-mean-for-jobs-1424835002">The answer probably lies somewhere in the middle</a>. Automation will take away jobs, <a href="http://seekingalpha.com/article/2665715-automation-will-create-jobs-in-the-robotics-industry">but it will also create new jobs</a> - like building the robots that build the new products we want, or increasing demand for new ways to fill our leisure time.Varian also said that way to counter automation is with better education for everybody - especially people who might previously have not been able to get an education."I would say that the smartest person in the world is in China or India or Africa and they're stuck behind a plow. 10 years ago that talent would've gone to waste, but now they have access to the internet." He also cited online video, like the lessons offered by Khan Academy, as the single most important aspect in educating children in developing countries. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/better-commute-less-miserable-cars-rush-hour-2015-2">How to make your commute less miserable</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="14Zmw2czqxOE2HX_XYlqwMwdcvOxKlnz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Google chief economist: Don't fear the robots

Mumbai, Former Lok Sabha Speaker and ex-Maharashtra Chief Minister Manohar G. <keyword id="19952829" type="General" weightage="20" keywordseo="joshi" source="keywords">Joshi</keyword>, a senior <keyword id="19905334" type="General" weightage="20" keywordseo="shiv-sena" source="keywords">Shiv Sena</keyword> (UBT) leader, passed away following a heart attack early on Friday morning. "Our family is deeply saddened to inform you that <keyword id="20281058" type="General" weightage="20" keywordseo="manohar-joshi" source="keywords">Manohar Joshi</keyword> passed away today morning at 3 a.m. following prolonged age related health issues," his family said in a terse announcement at dawn. Joshi, 86, was rushed to the Hinduja Hospital in Mahim after suffering a heart attack late on Thursday. 'Sir', as he was popular in political circles because of his teaching background and a stern demeanour, succumbed during treatment around 3 a.m., plunging the state political fraternity into gloom. His family said that Joshi's mortal remains will be kept at their home in Matunga to enable people to pay their last respects from 11 a.m. - 2 p.m., and then taken in a procession for the funeral at Dadar Crematorium around 3 p.m. One of the closest confidantes of the late Shiv Sena founder Balasaheb Thackeray, Joshi had over six decades in politics starting as a Municipal Corporator, then Mayor, Maharashtra CM, Union Minister, then crowning glory as the Speaker of Lok Sabha. Joshi had been suffering from certain old-age related ailments for the past several months and largely kept out of public glare, but remained with the SS-UBT, till he breathed his last. Top leaders across the political spectrum have paid rich tributes to Joshi who headed the first-ever saffron government in the state comprising the undivided Shiv Sena-Bharatiya Janata Party (1995-1999), in an era when politics was more principled and less unscrupulous. Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> condoled the demise of the veteran leader. "Pained by the passing away of Shri Manohar Joshi Ji. He was a veteran leader who spent years in public service and held various responsibilities at the municipal, state and national level. As Maharashtra CM, he worked tirelessly for the state's progress. He also made noteworthy contributions as a Union Minister. During his tenure as the Lok Sabha Speaker, he strove to make our Parliamentary processes more vibrant and participative. Manohar Joshi Ji will also be remembered for his diligence as a legislator, having had the honour of serving in all four legislatures. Condolences to his family and supporters. Om Shanti." Maharashtra Governor Ramesh Bais, Chief Minister Eknath Shinde, Deputy CMs Devendra Fadnavis and Ajit Pawar, Union Minister Nitin Gadkari, mourned the demise of Joshi and recalled his services to the state and country. Shiv Sena (UBT) President and ex-CM <keyword id="19905331" type="General" weightage="20" keywordseo="uddhav-thackeray" source="keywords">Uddhav Thackeray</keyword>, who is in Buldhana, cut short his political tour to rush to Mumbai to pay his respects to Joshi. Top SS-UBT leaders, including Leader of Opposition Ambadas Danve, Aditya Thackeray, Sanjay Raut, Arvind Sawant, Sushma Andhare, Kishore Tiwari, and others paid rich tributes to Joshi, and remembered his contributions at various levels in public life. State and Central Bharatiya Janata Party leaders, Maharashtra Navnirman Sena Chief Raj Thackeray, leaders of Maha Vikas Aghadi and other parties also condoled the demise of Joshi.

Manohar Joshi: The 'Sir' with a stern demeanour

<ul class="summary-list"><li><keyword id="9976562" type="UNKNOWN" weightage="60" keywordseo="dk-metcalf">DK Metcalf</keyword> teased a potential <keyword id="477392" type="COMPANY" weightage="60" keywordseo="USA-Track-Field">USA Track &amp; Field</keyword> tryout on Twitter.</li><li>The second-year Seattle Seahawks wide receiver took the <keyword id="6356028" type="UNKNOWN" weightage="100" keywordseo="sports">sports</keyword> world by storm after sprinting 114.8 yards at a maximum speed of 22.64 mph to thwart Arizona Cardinals safety Budda Baker's full-field pick-six touchdown.</li><li><a href="https://twitter.com/usatf/status/1320763145279909891">The official USA Track and Field account tweeted</a>, "@NFL players are welcome to come test their speed against real speed next year at the Olympic Trials" in response to the hype around Metcalf.</li><li><a href="https://twitter.com/dkm14/status/1320933021923508226">Metcalf responded to the message</a> on his own account, adding "See you there" with a smiling emoji.</li><li>If sustained, Metcalf's 22.64-mph mark on Sunday was faster than all but one of the world's fastest 100-meter records this year, so the 6-foot-4, 229-pound 22-year-old could make a real impact at trials.</li></ul>DK Metcalf is undoubtedly one of the fastest men on the planet, and he put that speed on full display during his epic chase-down tackle on Arizona Cardinals strong safety Budda Baker.And now that the sports world has seen just how fast the 6-foot-4, 229-pound Seattle Seahawks wide receiver can move, chatter is building around his potential involvement with the USA Track &amp; Field team.<div type="image" title="dk metcalf budda baker" height="1666" width="2222" msid="78896555" hostid="261"></div>On Monday, the official Twitter account for USA Track &amp; Field quote tweeted a video of Metcalf's 114.8-yard <keyword id="127782" type="COMPANY" weightage="60" keywordseo="Sprint">sprint</keyword> from the Seahawks' Sunday Night <keyword id="64" type="SPORT" weightage="60" keywordseo="Football">Football</keyword> bout against the Cardinals with the following message:"For everyone asking if we have a spot open on our relay team for <a href="https://twitter.com/dkm14">@dkm14</a>, <a href="https://twitter.com/NFL">@NFL</a> players are welcome to come test their speed against real speed next year at the Olympic Trials."Metcalf responded from his personal Twitter account a few hours later, adding "See you there" with a smiling emoji.Though the exchange may have been playful in nature, the 22-year-old may have a legitimate shot at qualifying for the national team should he have a real interest. Metcalf reached a maximum speed of 22.64 miles per hour during his full-field sprint Sunday night. If sustained, that speed converts to a 9.88-second mark in a 100-meter dash.And he did that in a full football uniform!The owner of this year's fastest time in the outdoor 100-meter dash event — American Michael Norman — clocked in at 9.86 seconds back in July at AP Ranch in Fort Worth, Texas. The next-fastest mark was 9.90 seconds, <a href="https://www.worldathletics.org/records/toplists/sprints/100-metres/outdoor/men/senior/2020?regionType=world&amp;timing=electronic&amp;windReading=regular&amp;page=1&amp;bestResultsOnly=trueResultsOnly=true">per World Athletics</a>.<div type="image" title="DK Metcalf" height="1579" width="2106" msid="78896559" hostid="261"></div>Metcalf would be far from the first <keyword id="103436" type="ORGANIZATION" weightage="60" keywordseo="NFL">NFL</keyword> player to participate in the Olympic games should he actually find international success in a Track &amp; Field career. Since 2012, half a dozen football stars have competed for medals. And Kansas City Chiefs wide receiver Tyreek Hill — who is known as one of the fastest players in the league — has repeatedly said <a href="https://olympics.nbcsports.com/2020/01/30/tyreek-hill-olympics-kansas-city-chiefs-super-bowl/">he intends to try qualifying for the US national team</a> ahead of the <keyword id="395647" type="SPORT" weightage="60" keywordseo="Tokyo-Olympics">Tokyo Olympics</keyword>.But after a full NFL season, it'll undoubtedly be an uphill battle for either Hill or Metcalf to qualify. According to NBC Sports analyst Ato Boldon, a former sprinter who earned four Olympic medals in his prime, "you're not going from an entire NFL season to being an Olympic qualifier in the 100m."Still, Metcalf now has an open invitation to join some of the fastest humans on the planet at the United States Olympic <keyword id="444245" type="COMPANY" weightage="60" keywordseo="track-and-field">Track And Field</keyword> Trials in Eugene, Oregon, next year. The event will run from June 18 to June 27, with the <keyword id="6360967" type="UNKNOWN" weightage="60" keywordseo="olympics">Olympics</keyword> set to begin just one month later.<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.insider.com/video-dk-metcalf-chase-tackle-seahawks-cardinals-2020-10">How DK Metcalf's 23 MPH full-field, chase-down tackle unfolded as one of the best plays of the NFL season</a></li><li><a href="https://www.insider.com/dk-metcalf-chase-down-tackle-response-sports-world-budda-baker-2020-10">The whole sports world was in awe after DK Metcalf's uber-athletic chase-down tackle on Budda Baker — including Baker himself</a></li><li><a href="https://www.insider.com/deandre-hopkins-trump-supporters-ferrari-2020-10">DeAndre Hopkins flipped off Trump supporters from his Ferrari while driving through their caravan on his way to the Cardinals game</a></li><li><a href="https://www.insider.com/antonio-brown-tampa-bay-buccaneers-tom-brady-week-9-2020-10">Antonio Brown signs with the Tampa Bay Buccaneers and reunites with Tom Brady, but he won't be able to play right away</a></li></ul>

DK Metcalf teased a tryout for the Team USA Olympic track team after his jaw-dropping 100-yard chase-down tackle

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Keith Mui</div></div></div>LONDON - The second half of 2016 will probably be remembered for its geopolitical shocks and uncertainty rather than as a period of benign economic data.But to do so would be to only have one half of the story.According to Goldman Sachs' measures of economic activity, the last two quarters of 2016 were really pretty encouraging."If you look at economic data for the past few months, there's been an impressive acceleration in growth," Jan Hatzius, chief economist at Goldman Sachs, said in a speech in London on Monday.Here is the chart:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Goldman Sachs</div></div></div>"What lies behind this pickup in growth? We think two things," Hatzius said. "Number one; an easing of financial conditions. We've seen in general easier conditions in 2016 as compared with 2015, especially when the impact on growth is concerned.""Also we've started to move into mildly positive territory as far as fiscal policy is concerned," he added. This trend could continue into 2017, especially if the Donald Trump administration in the US cuts taxes and raises spending.Here is Hatzius again:"One of the big questions of the Trump administration is how much additional fiscal policy stimulus are we likely to see? Now our expectation is that there will be corporate tax reform and some individual tax cuts. We're not building in the full proposal in our numbers, but something around half of that in our numbers.""The tax cuts will be constrained because the US is already running a fairly high deficit. But nevertheless we expect an annual fiscal easing of $200 billion annually. We think that will take effect on growth at the end of 2017."But Hatzius said there were three key risks to that optimistic outlook for the year. His presentation was capped at 20 minutes and so he summed them up in a sentence each.Here they are:1. Trade protectionism: "Associated with the transition to the Trump administration, a hard turn towards protectionism. That's definitely something that we've got our eye on that I think is a downside risk to the global economy."2. European <keyword id="6358883" type="PERSON" weightage="60" keywordseo="Politics">politics</keyword>: "While Europe has improved there's still some significant problems, especially in the labour markets of the southern European economies."Here is how that political schedule stacks up:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Goldman Sachs</div></div></div>3. China: "China continues to see very rapid debt growth and increases in the debt to GDP ratio so we would have to have a close look at signals from China, especially as far as capital flows are concerned and this is a major focus of our Asia economics team."Here are those China debt charts:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Goldman Sachs</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/excel-what-if-analysis-data-tables-2016-12">This is the Excel trick that will change everything about how you work with data</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="h2bzJudDphyVLhOx4BBk5EthBy0FqKaI" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

GOLDMAN SACHS CHIEF ECONOMIST: There are 3 big risks for 2017

<div class="KonaFilter image-container float_right"><div class="image on-image"><a href="http://www.youtube.com/watch?v=Ry1wQbkHBEo">YouTube/Russell Investments</a></div></div>Russell Investments chief economists Mike Dueker was <a href="http://www.bloomberg.com/news/2014-01-30/russell-investments-chief-economist-dueker-found-dead.html">found dead in an apparent suicide</a>.
Police say it <a href="http://www.miamiherald.com/2014/01/30/3903326/russell-investments-economist.html">appears that Dueker took his own life</a> by jumping from a ramp near the Tacoma Narrows Bridge in Tacoma, Washington, the AP reports.
According to Bloomberg, Dueker, 50, had been missing since January 29, and friends and law enforcement had been searching for him. <a href="http://www.bloomberg.com/news/2014-01-30/russell-investments-chief-economist-dueker-found-dead.html">From Bloomberg</a>:
Dueker worked at Seattle-based Russell for five years, and developed a business-cycle index that forecast economic performance. He was previously an assistant vice president and research economist at the Federal Reserve Bank of St. Louis.
He published dozens of research papers over the past two decades, many on monetary policy, according to the St. Louis Fed's website, which ranks him among the top 5 percent of economists by number of works published. His most-cited work was a 1997 paper titled "Strengthening the case for the yield curve as a predictor of U.S. recessions," published by the reserve bank while he was a researcher there.
"We were deeply saddened to learn today of the death," a company spokesperson told Bloomberg. "He made valuable contributions that helped our clients and many of his fellow associates."
<a href="http://www.bloomberg.com/news/2014-01-30/russell-investments-chief-economist-dueker-found-dead.html">Read the full report at Bloomberg »</a>

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