This year has been a super busy one as far as mobile phones are concerned. Almost every week we we saw a new phone from the Indian as well as international manufacturers stepping in. just 2 weeks ago <keyword id="16129" type="CITY" weightage="80" keywordseo="HTC">HTC</keyword> brought the ONE Max to India and now they are back again on the launch pad.<br />
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They have brought 3 new smartphones for the Indian consumer who want bang for their buck. Aimed at the mid segment of mobile phones, the new Desire models from HTC do look impressive, but at the same time a little expensive.<br />
<br /> The first in the line-up is <keyword id="1969384" type="UNKNOWN" weightage="100" keywordseo="Desire-700">Desire 700</keyword> (Dual Sim) that also fetches a 1 year theft and water spill mobile <keyword id="35450" type="COMPANY" weightage="40" keywordseo="insurance">insurance</keyword> with it. Priced at Rs 33,050 the phone has a 5-inch touchscreen, 1.2 GHz Quad-core processor and 1 GB of RAM. It also has an 8 MP camera and 8 GB internal storage.<br /> Next in line is <keyword id="1969385" type="UNKNOWN" weightage="100" keywordseo="Desire-601">Desire 601</keyword> that has a 4.5-inch display, 1.2 GHz Quad-core CPU and 1 GB RAM. Users get over 12 hours of talk time on this phone and the shape of the phone is inspired by HTC ONE. It is priced at Rs 24,190.<br />
<br /> The last to come is <keyword id="1969386" type="UNKNOWN" weightage="100" keywordseo="Desire-501">Desire 501</keyword> with 4.3-inch touchscreen, which comes across as a more affordable HTC phone marketed toward the youth of the country. Available in three colours and designs this phone features 1.15 GHz Dual-core processor and 1 GB RAM. This one is priced at Rs 16,890.<br />
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Both the Desire 501 and 601 will start sales by the end of this week, while Desire 700 will be available around Christmas in India. The 700 and 601, have got the HTC Sense 5 interface and BlinkFeed on them, however the 501 is on the older version of Sense UI.<br />
<br /> These new phones definitely strengthen HTC’s mid segment of smartphones. The prices could have been better, but they are giving <keyword id="6357050" type="COMPANY" weightage="40" keywordseo="EMI">EMI</keyword> scheme to the customers, which should ease some of the pressure.<br />



HTC Launch 3 New Desire Phones In India, The Most Expensive
One Comes With Mobile Insurance

<img class="gwt-Image" src="/photo/30225511.cms" />It is not everyday you come across phones that have a nice <keyword id="459" type="ORGANIZATION" weightage="100" keywordseo="price">price</keyword> and lot of features to offer. We recently reviewed the <keyword id="1853043" type="UNKNOWN" weightage="100" keywordseo="HTC-Desire-601">HTC Desire 601</keyword>, which grew on us as we used it. It has a good design, decent price and a lot of goodies to keep you occupied for long. Here is our take of this nifty little device from <keyword id="16129" type="CITY" weightage="100" keywordseo="HTC">HTC</keyword>.<br />
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<strong>Design</strong><br />
Coming from a brand that has been launching swanky devices, the Desire 601 is no different. We got our hands on the white version of the phone that has picked up it frontal looks from its elder brother (HTC ONE). However, unlike the HTC ONE, this phone has a removable rear thats allows the users to replace the battery and SIM cards. Hidden behind a silver grille on the front lie the twin speakers that are quite loud.<br />
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As far as the screen is concerned HTC has given this phone a 4.5-inch touch display. Flip the phone around and you will get a matt finished back embedded around a 5MP camera. The power button is located on top, while the volume keys on the right side. Overall the phone looks pretty neat and is not too fragile. White colour does attract smudges so be careful where you place the device.<br />
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<strong>Performance</strong><br />
Specs-wise this phone is not a rocket but good enough to be a sports car. One will find cheaper Indian options with the same specs but not the same quality. HTC Desire 601 has a 1.4 GHz dual-core CPU, 1 GB RAM and 8 GB internal storage. Space on the phone can be expanded using a microSD card up to 64GB. The touchscreen has nice colours to portray at 540 x 960 pixels resolution. At no point did we find the screen losing its quality, not even under the sun.<br />
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Besides the rear 5MP camera HTC Desire 601 has a secondary VGA camera for video chat or taking selfies. Other features include proximity sensor, accelerometer, geo tagging and two SIM slots. To give Desire 601 its life, HTC is providing a 2,100 mAh Li-Po battery in this mobile. It did give us over 24 hours of battery life in 2G, but the hours dropped down to about 14 hours when we switched to a 3G connection.<br />
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<strong>User Interface</strong><br /> Desire 601 runs <keyword id="6355645" type="COMPANY" weightage="40" keywordseo="android">Android</keyword> 4.2.2 with HTC Sense 5 user interface. The interface is the same as the one found on the HTC ONE series of mobiles. All the features such as Blink Feed and Zoe come to this phone as well. We were able to customize home screen panels with ease. Blink Feed works well too and one can get all their social and registered feeds under this hub. We were hoping to find some good Indian apps on the 601, but sadly they were missing.<br />
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<strong>Verdict</strong><br />
We quite enjoyed our time with this phone, barring a few exceptions. Where we loved the modern looks, we didn’t like the fact that this phone gave moderate shots. You can call us spoilt after using the HTC ONE’s ultrapixel camera, but the 5MP camera on the Desire 601 does not give the results one desires. The battery life could have been better for 3G use as well. As for the price, one can pick the device for as low as Rs 21,000, which is not bad value for money. <br />


[Review] HTC Desire 601: Good Looks And Neat Features At A Decent Price

<br /><ul><li>India, the third country worst hit by the <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> pandemic, has recorded a spike of 53,601 <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> cases in a single day, pushing the total tally to 22,68,675.</li><li>According to the ministry officials, With more patients recovering and being discharged from hospitals and home isolation, the total recoveries have jumped to 15,83,489 with 47,746 Covid-19 patients were discharged in the last 24 hours.</li><li>The actual case load of the country is the active cases -- 6,39,929, which is only 28.21 per cent of the total positive cases. They are under active medical supervision. </li></ul><br />The Union Health Ministry on Tuesday said that successful implementation of effective containment strategy, aggressive and comprehensive testing coupled with standardized clinical management have resulted in a sharp hike in the recovery rate at nearly 70 per cent.<br /><br />India, the third country worst hit by the Covid-19 pandemic, has recorded a spike of 53,601 coronavirus cases in a single day, pushing the total tally to 22,68,675.<br /><br />According to the ministry officials, With more patients recovering and being discharged from hospitals and home isolation, the total recoveries have jumped to 15,83,489 with 47,746 Covid-19 patients were discharged in the last 24 hours. <br /><br />The actual case load of the country is the active cases -- 6,39,929, which is only 28.21 per cent of the total positive cases. They are under active medical supervision. <br /><br />With a consistent and sustained increase in recoveries, the gap between recovered patients and active Covid-19 cases has reached nearly 9.5 lakh. <br /><br />"India's test, track and treat strategy is showing the desired result -- the gap between percentage Recoveries and percentage Active Cases is growing every day," the ministry added.<br /><br />Besides this, as a result of focus on improved and effective clinical treatment in hospitals, use of non-invasive, improved and coordinated services of the ambulances and timely treatment, the Case Fatality Rate (CFR) has been low when compared to the global average. "It has fallen below 2 per cent today, currently standing at 1.99 per cent."<br /><br />Case fatality rate is the proportion of people who die from a specified disease among all individuals diagnosed with the disease over a certain period of time. The rate typically is used as a measure of disease severity.<br /><br />SEE ALSO: <br /><a href="https://www.businessinsider.in/politics/world/news/trump-was-rushed-from-the-briefing-room-by-secret-service-after-a-shooting-outside-of-the-white-house/articleshow/77474005.cms">Trump was rushed from the briefing room by Secret Service after a shooting outside the White House</a><br /><a href="https://www.businessinsider.in/careers/news/mckinsey-facebook-amazon-nokia-and-some-other-companies-looking-for-a-product-manager-right-now/slidelist/77464438.cms">McKinsey, Facebook, Amazon, Nokia — and some other companies looking for a product manager right now</a><br /><a href="https://www.businessinsider.in/business/startups/news/how-karan-bajaj-sold-his-less-than-18-month-old-startup-white-hat-jr-to-byjus/articleshow/77415329.cms">A WhatsApp message, six weeks of talks and a $300 million deal – how Karan Bajaj sold his less than 18-month old startup White Hat Jr to Byju’s</a><br />

India's COVID-19 recovery rate nears 70%

<ul class="summary-list"><li>Chicken is an essential part of South African culture and the economy.</li><li>The country has seen a 20% rise in the cost of chicken, with higher prices on the way.</li><li>More than half of South Africa's adults live below the poverty line.</li></ul><p>CAPE TOWN, South Africa — Food insecurity is not new to South Africans, and the soaring prices of mainstay ingredients like chicken will make it even harder for people to access basic foods. </p><p>Chicken is an essential part of South African culture and economy. A Google search beginning with "nearest …" often automatically offers choices such as "KFC," "Nandos," or "Chicken Licken." </p><p>Not only are there almost 1,000 KFC locations in the country, but South Africans use the entire bird when cooking — including the heads and feet, known as "walkie talkies" and "runaways." Chicken is the biggest source of protein in the country of 60.1 million people.</p><p>The average per capita consumption of chicken in South Africa in 2020 was nearly 39 kilograms a year, more than double the beef consumption of 16 kilograms a year, and more than four times the 9 kilograms a year of egg consumption, according to the South African Poultry Association.</p><p>As of the beginning of July, the price for a whole frozen chicken has risen 20% year-over-year to 33.65 rand, or about $1.96, according to research by the banking group Absa's "Agri Trends: Livestock Report."</p><iframe title="Meat consumption per capita in South Africa" id="datawrapper-chart-U0mCs" src="https://datawrapper.dwcdn.net/U0mCs/3/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="400"></iframe><p>And poultry prices will continue to climb, according to the report.</p><p>"We expect chicken prices to follow an upward trend over the coming weeks, supported by a weaker exchange rate, sustained high input costs, and firm consumer demand for affordable sources of meat protein," the report says.</p><p>In a country where more than half of adults are living below the national poverty line, and 27% of children in the country have stunted growth, according to UNICEF, a 20% rise in the cost of a food staple like chicken means fewer people will be able to afford a major source of protein. Rising prices are causing stress for consumers, poultry farmers, and small-scale fast-food outlets.</p><p>Aamir Shahzad, the owner of Aysha's Take Aways in Lotus River, Cape Town, said that in the past year, he has seen the price of his main ingredients rise significantly, citing the cost of staples like butter, which has jumped from R12 to R22; the price of 1 kilogram of chili powder rose from R35 to R90; and the price of chicken has nearly doubled, from R24 to R45 a kilogram.</p><p>Shahzad is feeling the strain — he said he has very little leeway to increase prices, and since he did earlier this year, sales are down. He had to lay off four of his five employees, and his small business incurred a loss of R22,000, or about $1,940, in June.</p><p>"There is not a lot of money," he said. </p><div type="image" title="Aamir Shahzad standing in his restaurant." height="4689" width="3751" msid="93280506" hostid="261"></div><h2><strong>Everything costs more in this impoverished economy </strong></h2><p>Economic hardships are hitting South Africa's residents from many angles, including higher fuel and electricity prices and rising interest rates.</p><p>South Africa already faces sharp inequality in who can access goods and services, and the COVID-19 pandemic deepened the divide. And it led to a sharp jump in unemployment, from 27.6% in the first quarter of 2019 to 34.5% in the first quarter of 2022.</p><p>"The rising cost of chicken does not show the whole picture, as the situation for South Africa's poor is a lot worse than this one indicator," said Mervyn Abrahams, the program coordinator at the Pietermaritzburg Economic Justice and Dignity Group, an organization that monitors the cost of food prices for South Africa's poor.</p><p>The PEJDG tracks a basic basket of groceries, containing 44 essential foods, in its Household Affordability Index, and it found that in June the cost of a basic nutritional food basket had risen 11.5% year-over-year, to R3,187 for a family of four.</p><p>Abrahams said about half the country's workers earn R3,500, or $211.65, a month, the country's basic minimum wage.</p><p>"This basket has become totally unaffordable. We are in terrible trouble," Abrahams said.</p><p>The South African economy was struggling even before the arrival of COVID-19. It entered a recession in the latter half of 2019, and the pandemic caused the economy to shrink even further, with GDP contracting 5% by the end of 2020.</p><p>Throughout 2021, the economy made a steady recovery, reaching its pre-pandemic levels in the first quarter of 2022. Growth came to a halt, though, with the ongoing war in Ukraine, which has put enormous pressure on an already-strained food supply. </p><p>Even though food prices are rising, experts say the grocery bill is not even the spending priority for the country's poor.</p><p>"People prioritize transport costs, electricity, and servicing of debt. Only then do people start buying food," Abrahams said.</p><h2><strong>The cost of feeding a family</strong></h2><p>All of this means that chicken, which is a mainstay in many homes and businesses, is becoming less affordable, though it's still cheaper than red meat and other protein options. </p><p>And it's becoming harder for chicken farmers and producers to sustain a livelihood, given the rising costs of growing, feeding, and selling the bird. </p><p>"It's putting a lot of strain on smaller producers," said Joandra Cloete, the director of Our Poultry Place Farm, a broiler farm outside of Cape Town that also offers mentoring and sells feed and other poultry products to other small-scale farmers.</p><p>The difficult times are pushing farmers to make desperate choices.</p><p>"At times it's even forced the small producers to quit their projects. Others try to mix their own feed, but it just results in huge death tolls of their chickens," Cloete said. While mixing or buying less feed might seem like a cost saving, it can cause slow growth in chickens and other health problems.</p><p>Cloete said that it was inevitable that Our Poultry Place Farm had to increase its prices.</p><p>"We had no choice when it came to passing on the pricing, otherwise we will have to close our farms, leaving many without jobs and children and households suffering," she said.</p><p>Though the steep rise in food prices is putting poor households under pressure, they are getting some government stipends, which started during the height of COVID-19.</p><p>The government has been paying out a monthly grant of R350 to 10.5 million people since March 2020, to ease the rising cost of food.</p><p>"It seems like that R350, most of it is going towards chicken," said Chris Shutter, the CEO Astral Foods, the largest chicken producer in South Africa.</p><p>While the grants have helped in the short term, South Africans are now grappling with more price increases, with food and nonalcoholic beverages rising 7.6% year-over-year in June — that's up from the 6.2% rise in March, before the start of the war in Ukraine.</p><h2><strong>Cheaper cuts and odd spikes</strong></h2><p><strong></strong></p><div type="image" title="A tray of chicken curry at restaurant." height="3840" width="5760" msid="93280508" hostid="261"></div><p>Shahzad, the owner of Aysha's Take Aways, said he knows of several fast-food chicken shops that are for sale because the owners are struggling to earn a living running the establishments. In his five years of running his business, this is the worst drop in sales he's experienced.</p><p>From what the PEJDG's Abrahams has seen, people are not giving up chicken entirely but are shifting to eating the less desirable parts of the chicken like the gizzard, liver, and feet.</p><p>That shift has increased demand so much, it's resulted in a noticeable spike for some of these parts. The price for 2 kilograms of chicken liver, for example, rose 24% year-over-year to about R68 in June.</p><p>Abrahams said that global supply-chain issues have made an already difficult situation worse.</p><p>According to PEJDG, a 10-kilogram bag of frozen chicken parts rose 14% year-over-year, to R384, in June.</p><p>The National Agricultural Marketing Council noted this concern in its March 2022 issue of the South African Poultry Products Prices Monitor.</p><p>"South Africa's current economic challenges are likely to exacerbate consumers' inability to afford poultry, which is one of the most affordable and most consumed source of animal protein by the country's household majority," the council said. </p><p>For her part, Our Poultry Place Farm's Cloete sees no easy way for South Africans to get around the spike in food prices.</p><p>"I guess consumers just have to roll with the punches, and mommies have to try to feed their families with tighter budgets," she said.</p>

South Africans have a love affair with chicken. But higher prices are testing if they can afford it.

<p>Under acting head Michael Piwowar, the Securities and Exchange Commission has signaled a desire to reconsider Dodd-Frank rules. Specifically on the table is the <a href="https://www.wsj.com/articles/acting-sec-chief-targets-pay-rule-in-latest-effort-to-ease-post-crisis-rules-1486412378">requirement that corporations disclose the pay gap between their chief executive's compensation and that of median workers</a>. This runs counter to what the American people want.</p><p>JUST Capital's research has shown that Americans - including active investors - are highly in favor of transparency from companies, especially on issues of pay, for both executives and the average worker. In fact,"pays workers fairly compared to the CEO" was called out explicitly as an important component of the JUST 100 Index.</p><p>At JUST, we assess company performance on all the things the public tell us they care about. On this particular issue, JUST analysts have estimated the CEO:Median US Worker Pay ratios for all companies in the Russell 1000. The average across all represented industries is 236.0 to 1.</p><p>Variability among industries is substantial, from Internet and Software (where the average pay ratio is roughly 118:1) to Consumer Services (almost 500:1).</p><div><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/589a2ac13149a162308b487b-800/screen shot 2017-02-07 at 30952 pm.png" alt="Screen Shot 2017 02 07 at 3.09.52 PM" data-mce-source="Just Capital" /><p class="source"><span>Just Capital</span></p></div><p></p></div></div></div><p><span style="font-weight: 400;">However, </span><em><span style="font-weight: 400;">within</span></em><span style="font-weight: 400;"> industries things get even more interesting.  Take the Capital Goods sector for example. Here, Fastenal (FAST) has a ratio of just 48 to 1, whereas SolarCity Corporation (SCTY) comes in at a whopping 602:1 (</span><em><span style="font-weight: 400;">Note: SolarCity was acquired by Tesla in November, 2016. Elon Musk is CEO of both companies</span></em><span style="font-weight: 400;">).  GE comes in second, at 518:1.</span></p><div><span style="font-weight: 400;"></span></div><div><span style="font-weight: 400;"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/589a2b203149a195008b5c7d-773/screen shot 2017-02-07 at 31043 pm.png" alt="Screen Shot 2017 02 07 at 3.10.43 PM" data-mce-source="Just Capital" /><p class="source"><span>Just Capital</span></p></div><p></p></div></div></span></div><p>In the Banking sector, JP Morgan tops the charts at 635:1, with Zions Bancorporation at the low end with a ratio of just 60:1.  To be fair to JP Morgan, it's worth noting that their wealthier investment banking brethren are included under the Capital Markets sector, and not Banking.  </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/589a2b623149a162308b4880-800/screen shot 2017-02-07 at 31104 pm.png" alt="Screen Shot 2017 02 07 at 3.11.04 PM" data-mce-source="Just Capital" /><p class="source"><span>Just Capital</span></p></div><p></p></div></div><span style="font-weight: 400;">According to </span><a href="https://www.wsj.com/articles/acting-sec-chief-targets-pay-rule-in-latest-effort-to-ease-post-crisis-rules-1486412378"><span style="font-weight: 400;">The Wall Street Journal</span></a><span style="font-weight: 400;">,  "[c]ompanies complain the metric … isn't informative to shareholders", yet our market research has shown us that 96% of Americans believe it is important to measure how just corporations are. </span></p><p><span style="font-weight: 400;">In addition, 87% of Americans would use information about justness when looking for a job, 84% would use it to inform purchasing decisions, and yes, 85% would use it to inform investing decisions. </span></p><p><span style="font-weight: 400;">Regardless of any decisions at the SEC, JUST Capital will continue to compile this data.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/ship-sink-gulf-of-mexico-galveston-texas-artificial-reef-2017-1">The US government just sank a giant ship on purpose - and the footage is amazing</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A5Nzk4OTE6om9nwfmwxMDjoKNWBXH5mk" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'A5Nzk4OTE6om9nwfmwxMDjoKNWBXH5mk',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

The SEC could ditch a rule that reveals the pay gap between CEOs and workers - here's the data

<ul><li><strong>On March 5th, the <keyword id="6358156" type="ORGANIZATION" weightage="20" keywordseo="central-bank">central bank</keyword> decided to leave the repo rate unchanged at 6%.</strong></li><li><strong>The move highlights the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>'s uncertainty regarding the short-term trajectory of India’s economy.<br /></strong></li><li><strong>The RBI has lowered its <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword> guidance and forecasted a growth rate of 7.4% for fiscal 2019.</strong></li></ul><br />The first bi-monthly meeting of the Reserve Bank of India’s Monetary Policy Committee in the 2019 fiscal year turned out, as many expected, to be a non-event. <br /><br />On March 5th, the six-member committee voted to keep the repo rate, or the rate at which it extends credit to commercial banks, unchanged at 6% for the fourth time in a row. The vote was 5-1. <br /><br />The move underlines the fact that there are no easy answers when it comes to determining macroeconomic policy. The central bank has opted for a wait-and-watch approach in response to the lack of concrete data and trends. It is as uncertain about the short-term trajectory of India’s economy as we are. It does however, expect a slight decline in inflation and a pickup in economic growth- both of which justify its decision to stay the course on <keyword id="6371181" type="UNKNOWN" weightage="20" keywordseo="interest-rates">interest rates</keyword> for the time being.<br /><br />Central banks lower and raise interest rates for a number of reasons. In theory, if an economy is growing at a sluggish pace and/or inflation is too low, the central bank will reduce interest rates in order to stimulate investment and economic growth as companies will have lower borrowing costs. However, if the resultant pickup in growth leads to a higher-than-expected acceleration in prices, then the central bank will reduce interest rates to keep inflation in check. <br /><br />However, in reality, this information can be hard to ascertain, especially in a country like India where official economic data can betray the ground reality due to the overwhelming size of the informal economy as well as failures in reporting and measurement. Acting hastily with respect to monetary policy can have far-reaching negative impacts across all sectors of the economy, which is why playing-it-safe is the guiding principle of central banks. <br /><br />The RBI’s decision shows that its mainly uncertain about the following things:- <br /><br /><strong>The looming spectre of higher inflation</strong><br /><br />The RBI surprised market analysts by lowering its inflation guidance, while retaining a cautious outlook on certain inflation risks. It expects inflation to fall between 4.7% and 5.1% in the first half of fiscal 2019, compared with a previous forecast of 5.1-5.6%. It expects a further decline in inflation to 4.4% in the second half, as against an original guidance of 4.5-4.6%. This is likely prompted by the fact that retail inflation fell for the second consecutive month this past February, to 4.4%, owing to a decline in vegetable prices. <br /><br />However, there are a number of factors that could lead to a spike in inflation in the near term, all of which the RBI lacks clarity on. Firstly, if oil prices were to rise sharply, India, which imports four-fifths of its oil, would be adversely affected. Since crude oil prices are notoriously volatile, it can be hard to plan for a sharp increase. Secondly, a lower-than-expected rainfall in the coming monsoon will hurt food supplies and increase prices. Thirdly, the government’s revisions to the minimum support price scheme for kharif crops could also have an inflationary effect. Finally, the US Federal Reserve’s planned rate hikes this year could lead to an outflow of funds from India, which in turn, could lead to the depreciation of the rupee against the dollar, which in turn, will make imports more expensive. <br /><strong><br />Threats to India’s growth recovery</strong><br /><br />Like the IMF, the central bank also pegged <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> growth at 7.4% this year, compared to a growth rate of 6.6% in fiscal 2018. In the October-December period of 2017, India achieved its highest growth rate in five quarters, recording a growth of 7.2% following a rebound in manufacturing, agriculture and construction. Recent data on the increase in sales of two-wheelers ( an indicator of rural consumption), the expanding production of capital goods and higher demand for retail loans indicate a solid level of growth in the next few quarters. <br /><br />But, as the RBI pointed out, there are a number of threats to this growth recovery. Firstly, the ongoing war over tariffs between US and China could lead to increased protectionism and hurt global growth. Secondly, the recent spate of frauds at India’s banks could result in a prolonged drag on private investment. It also remains to be seen how the government’s bank recapitalisation will pan out or whether the new bankruptcy rode will lead to the swift and effective resolution of insolvency cases. Finally, in anticipation of next year’s general elections, the government could be compelled to deviate from its budgeted expenditure by offering a number of handouts to vote banks which could hurt public finances and drive funds away from necessary investments like infrastructure and job creation. <br /><br />Amidst all this uncertainty, the RBI is sure about one thing though. <br /><br /><strong>The importance of making everyone feel good</strong><br /><br />Clearly, the RBI didn’t want to ruffle any feathers and hurt market sentiments with a rate hike. The central bank’s decision to lower its inflation guidance and reinforce the IMF’s bullish projections on India’s growth further indicate its desire to make everyone feel good and help facilitate a modest recovery in growth after last year’s slump. <br /><br />Following the government’s decision to <a href="http://www.business-standard.com/article/news-ians/will-borrow-rs-2-88-lakh-cr-in-fy19-s-first-half-government-118032600833_1.html">reduce its borrowing</a> from markets in the first half of the current fiscal year, which led to a decline in bond yields, it seems that the RBI wants to continue to encourage investor confidence. Earlier this week, it said it would allow commercial banks to <a href="http://indianexpress.com/article/business/banking-and-finance/bond-losses-rbi-allows-banks-to-spread-provisions-over-four-quarters-5121096/">spread out their loss provisions </a>on bond investments in the last two quarters of fiscal 2018 over as many as four quarters instead of accounting for them in the quarter when they were incurred. This will provide a welcome relief to banks who have experienced a significant depreciation in the value of their bond holdings in the past six months following a rise in bond yields, which has lead to a reduction in bond prices. <br /><br />Both debt and equity markets responded favourably to the RBI’s decision to leave the repo rate unchanged. The Sensex and Nifty were up by 601 and 208 points, respectively, at the close of trading on March 5th while bond yields fell to 7.13% from 7.30%. <br /><br />The RBI could be tempted to lower rates if growth is subdued over the next few quarters, which is a definite possibility. Conversely, if inflation exceeds forecasts, we could see a rate hike. The most likely outcome, however, is that the uncertainty will persist, in which case the RBI will do what it does best: nothing. <br />

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HTC Launch 3 New Desire Phones In India, The Most Expensive One Comes With Mobile Insurance

Sulabh Puri

[Review] HTC Desire 601: Good Looks And Neat Features At A Decent Price

Sulabh Puri

India's COVID-19 recovery rate nears 70%

IANS

South Africans have a love affair with chicken. But higher prices are testing if they can afford it.

Larry Claasen

The SEC could ditch a rule that reveals the pay gap between CEOs and workers - here's the data

Martin Whittaker, Just Capital

The Reserve Bank of India left rates unchanged because, like us, it’s uncertain about a lot of things

Dilsher Dhillon