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<ul><li><keyword id="19920097" type="General" weightage="20" keywordseo="Karwa-Chauth" source="keywords">Karwa Chauth</keyword> is set to add ₹22,000 crore worth of business to the <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword>.</li><li>This year's spending is expected to surpass last year's ₹15,000 crore mark.</li><li>Karwa Chauth will be celebrated across India on Sunday.</li></ul>Deeply rooted in Indian culture and spirituality, the festival of Karwa Chauth has grown into a significant economic event, with an estimated ₹22,000 crore worth of business anticipated in markets nationwide. The traditional festival will be celebrated across India on Sunday, marking a day of fasting and prayer for the well-being and longevity of spouses. This year's spending is expected to surpass last year's ₹15,000 crore mark, reflecting a surge in enthusiasm and <keyword id="23410660" type="General" weightage="20" keywordseo="consumer-activity" source="keywords">consumer activity</keyword>. Over the past week, markets across the country have witnessed a lively atmosphere, with bustling crowds shopping for clothing, jewellery, cosmetics, gift items, and puja essentials in preparation for the occasion. Delhi, one of the central hubs for the festivities, is expected to contribute significantly to this economic boom, with sales projected to reach approximately ₹4,000 crore. The shopping spree spans a variety of items associated with Karwa Chauth, including jewellery, traditional clothing, makeup products, sarees, and religious items like Karwa pots, sieves, lamps, wicks, and prayer books. In addition, red glass bangles, anklets, toe rings, lockets, and intricately designed Karwa thalis are among the popular items being purchased. This year, silver Karwas have also been introduced to the market, and they are expected to be in high demand. Henna (mehendi) application, considered auspicious for the festival, has also seen a surge in popularity, with markets, temples, and public places filled with women lining up to get their hands decorated. In Delhi, Connaught Place's Hanuman Temple has become a prominent spot where thousands gather for mehendi, while beauty parlours and private mehendi sessions are booked solid. Henna artists find a valuable opportunity to earn a livelihood during this period. Karwa Chauth not only boosts retail activity but also sets the stage for the upcoming <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword>, with many shoppers placing orders for <keyword id="20242079" type="General" weightage="20" keywordseo="gold-jewellery" source="keywords">gold jewellery</keyword>. The wedding season, commencing in November, traditionally sees a rise in bookings for bridal jewellery, and the festival serves as an early catalyst for these purchases. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms">Best smartphones under ₹25,000 in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

Karwa Chauth festivities to boost economy by ₹22,000 crore

In a major step toward protecting students and their families, the Indian government has issued new guidelines aimed at curbing misleading advertisements by coaching centres. The Centre's crackdown addresses exaggerated claims like “100% selection” or “guaranteed job security” — promises that often lead to disappointment among students who invest time and money expecting a near-certain outcome. <h2>Protecting consumers, not shutting down coaching</h2>On Wednesday, the Central Consumer Protection Authority (CCPA) rolled out these guidelines in response to numerous complaints from the National Consumer Helpline. According to <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare, the government’s goal is not to shut down coaching centres but to ensure their ads don’t “undermine consumer rights.” “We have seen coaching centres deliberately concealing information from prospective students,” Khare said. “Therefore, we have come out with the guidelines to provide guidance to people involved in the coaching industry.” So far, the CCPA has issued 54 notices to violators and imposed penalties of around Rs 54.60 lakh. <h2>What’s prohibited?</h2>The guidelines lay out strict boundaries on what coaching centres can — and cannot — say in their ads. Here’s what the guidelines address: <ul><li>False Claims: Ads should not make unsubstantiated promises about “100% selection” or “100% job security.”</li><li>Course Details: No exaggerating or omitting information about courses, their duration, or outcomes.</li><li>Faculty Credentials: Qualifications of teachers must be presented accurately, with no fake credentials.</li><li>Fees and Refunds: All fees and refund policies must be transparent.</li><li>Selection Rates and Ranks: Coaching centres cannot claim high selection rates or exam rankings without proof.</li></ul>Additionally, they are not allowed to use successful candidates’ names, photos, or testimonials in ads without written consent from these individuals. Khare advised students to double-check the information provided by coaching centres. “Many UPSC students clear prelims and mains on their own and take only interview guidance from coaching centres,” she explained, encouraging students to verify the course details actually taken by successful candidates. The guidelines go beyond the broad term “coaching.” They define coaching as academic support, education, guidance, study programs, and tuition — but they exclude counselling, sports, and creative activities. The purpose of this definition is to keep the focus on academic and career-oriented programs, which are most prone to misleading ads. <h2>Full disclosure and consequences for violators</h2>Transparency is now mandatory, as coaching centres must display disclaimers and reveal essential course details. Facilities, infrastructure, and resources must be represented accurately, along with any required approvals or recognitions from authorities like AICTE or UGC. Khare, who also serves as the CCPA chief, stressed that coaching centres should accurately present the service, resources, and infrastructure provided. For instance, if they advertise “fully-equipped classrooms,” the guidelines require this to be an honest description. These guidelines come as a supplement to existing laws and are enforceable under the Consumer Protection Act. This means violators will face penalties, potentially similar to the Rs 54.60 lakh already imposed by the CCPA. The government hopes these new standards will push coaching centres to keep their ads honest, helping students and families make better-informed decisions. (With inputs from agencies)

No More False Promises: Government sets rules to prevent misleading and exaggerated coaching centre ads

Did you know that your high-speed <keyword id="6357247" type="General" weightage="20" keywordseo="Internet" source="Orion">internet</keyword> might be making you a bit, well… sluggish? According to new research, faster internet connections could actually be helping to drive up <keyword id="6364492" type="General" weightage="20" keywordseo="Obesity" source="Orion">obesity</keyword> rates in Australia. The study examined years of data from the Household, Income, and Labor Dynamics in Australia (HILDA) survey, tracking the expansion of high-speed internet across the country from 2006 to 2019. The result? The faster the internet, the more likely people are to gain weight. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Fast internet changing daily habits</h3>According to Dr. Klaus Ackermann from Monash Business School, the connection between fast internet and weight gain has to do with “sedentary behavior.” He explains, “Access to high-speed internet connection decreases the likelihood of individuals meeting the minimum physical activity recommendation proposed by the WHO. That is, individuals become more inactive and exhibit more sedentary behaviour.” Basically, with high-speed internet, we’re more likely to spend hours watching streaming shows or playing online games. And, as Dr. Ackermann says, “Sedentary behavior is induced by the need to stay connected online for longer hours, which leads to lower metabolic rates and contributes to obesity.” And that’s not all — the more we’re sitting around, the more we’re likely to snack. “This problem is elevated by the need to frequently consume snacks during computer usage, which increases the daily intake of calories that contribute to obesity,” Ackermann points out. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">A growing (and costly) problem</h3>Beyond individual health, Australia’s obesity crisis is also creating a big economic issue. Obesity cost the country $11.8 billion in 2018, and that number is projected to reach an astonishing $87.7 billion by 2032. According to the study, a mere 1% increase in National Broadband Network adoption is linked with a jump in <keyword id="20107050" type="General" weightage="20" keywordseo="Body-Mass-Index" source="keywords">Body Mass Index</keyword> (BMI) of 1.57 kg/m² and a 6.6% increase in the prevalence of obesity. In simple terms, fast internet is allowing people to live slower lives—lives that involve a lot more sitting and a lot less moving. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Breaking the cycle</h3>So, what’s the solution? Dr. Ackermann suggests that we might need <keyword id="21876118" type="General" weightage="20" keywordseo="public-health-campaigns" source="keywords">public health campaigns</keyword> to remind people of the risks that come with endless screen time. “One avenue of suggestion could be creating awareness of the potential increase in <keyword id="23729054" type="General" weightage="20" keywordseo="sedentary-behavior" source="keywords">sedentary behavior</keyword> with internet access; this could motivate people to take breaks between screen time to reduce sedentary behavior and engage in physical activity to promote a healthier lifestyle,” he says. He adds that encouraging people to take breaks and do more physical activities might be key. “Such public health campaigns could encourage the need to physically engage in errands, if possible, as opposed to strictly accessing goods and services online,” Ackermann advises. High-speed internet may be part of modern life, but maybe it’s worth taking a step back now and then to get off the couch. As Dr. Ackermann puts it, “Public health campaigns that encourage short but vigorous physical activity… could be useful for individuals with busy lifestyles who may only have limited time.” The findings of this research have been published in Economics &amp; Human Biology.

The faster your internet, the more likely you are to be obese, a study has found

Economists at the country's largest lender, SBI, today said they see India's Q2 real GDP growth slowing down further to 6.5% in the September quarter of this fiscal year. Amid concerns over the country's economic growth rate and whether it is slowing down, the analysts said they expect FY25 growth to come "closer to" 7%. SBI analysts join a long line of agencies like Fitch, ADB, IMF, Moody, World Bank, S&amp;P, and even RBI in forecasting India's GDP growth for FY25 in the range of 6.8% to 7.2% for FY25, driven by robust consumption and investment. SIP inflows have been at an all-time high, and so has QIP (qualified institutional placement) fundraising. As many as 71 companies raised Rs 88,678 crore this year through QIPs. Activity in Indian primary markets also remained robust, with 78 mainboard IPOs in 2024; this is a 111% rise from just 38 listings in FY23. Between April and June 2024, India's real GDP grew by 6.7%, the lowest growth seen in 15 quarters, pushing experts to believe that India is caught in a cycle of slowdown. "There is some incipient pressure evident on the domestic economy. Based on our analysis of 50 meaningful leading indicators (both consumption and demand-centric), a dip looks plausible across select cohorts of agriculture, industry, and services in Q2," the <keyword id="22337294" type="General" weightage="20" keywordseo="SBI-economists" source="keywords">SBI economists</keyword> added. Stating that they track 50 indicators to gauge economic activity, SBIs note said the proportion of indicators showing acceleration declined to 69% in Q2 FY25, as against 80% in Q2 FY24 and 78% in Q1 FY25. However, things might be changing now, given that rural demand has started looking up amidst muted urban demand. SBI also explained that the ongoing regulatory tightening on unsecured lending and roadblocks that are hindering rollover/refinancing of debt through unsecured credit are dismantling the unwarranted exuberance that had built up post-pandemic, especially in the urban areas. Madhu Lunawat, CIO &amp; Fund Manager, Bharat Value Fund states that the overall investment environment remains strong due to favorable economic conditions supporting government policies &amp; reforms. "The sustainable inflow from domestic investors is going to support the Indian equity market in any kind of correction. The long-term bullish structure of Indian economy will continue to attract new domestic &amp; global investors to participate in India’s growth story through various Investment avenues.” <h2>Rate cuts not on cards</h2>RBI Governor Shaktikanta Das clarified today that changing the monetary policy stance to 'neutral' does not mean a rate cut is imminent in the central bank's next policy announcement. Notably, RBI MPC is set to meet between December 4 and 6, 2024, to decide if the prevailing repo rate of 6.5%, which has stayed unchanged for the last 2 years, should be brought down or not. In its last meeting, The <keyword id="20501100" type="General" weightage="20" keywordseo="RBI-monetary-policy" source="keywords">RBI monetary policy</keyword> committee had shifted its stance to 'neutral' indicating that it is open to adjusting interest rates based on economic conditions. "It should not be assumed that we have done this, so therefore the next step is a rate cut. A change in stance doesn't mean that the next step is a rate cut in the very next meeting. It's not so," Das said. Das also cautioned that inflation remains a key factor, and inflation and CPI prints for October are expected to stay high.

SBI economists see Q2 GDP growth slowing down to 6.5%; FY25 growth to be closer to 7%

<ul class="summary-list"><li>Kids are often involved in many different extracurricular activities growing up.</li><li>Children's activities can cause unhappiness when they feel pressured to achieve specific metrics.</li></ul>Whether it's driving a child to theatre practice, karate class, or both, <a target="_blank" href="https://www.businessinsider.com/kids-organized-sports-benefits-rest-resilience-2024-7">after-school activities</a> can be time-consuming for both children and parents.While after-school activities can be a great place to <a target="_blank" href="https://www.businessinsider.com/making-friends-older-age-how-make-new-connections-2024-6">make friends</a> and discover new interests, it's important that these structured activities do not completely take over a child's schedule.Erica Fener Sitkoff, a clinical child psychologist, and Peter Gray, a research professor at Boston College, spoke to Business Insider about the importance of downtime for kids — even the ones who seem to be thriving with a full schedule of <a target="_blank" href="https://www.businessinsider.com/dont-join-extracurriculars-just-to-buff-up-college-application-2023-9">extracurricular activities</a>.<h2 id="942c09ab-1fbe-431c-b469-3356ac063f9d">Check-in with your child on their feelings toward their activities</h2>It may be hard to tell if your child's activities, or even one particular activity, have become overwhelming and if they need more downtime. But being observant, checking in, and <a target="_blank" href="https://www.businessinsider.com/parental-stress-is-a-public-health-crisis-2024-9">removing some of the stress</a> is a good place to start.While your child may naturally excel at their structured activities, parents need to <a target="_blank" href="https://www.businessinsider.com/parenting-expert-let-kids-fail-resilience-2024-8">remove the pressure</a> around achieving a certain level of success in their activities."There's a difference between giving kids lots of exposure to things so they can figure out what they gravitate toward and what they're good at," Fener Stikoff said. "It's another thing to have them do a lot of things and be the best at all of those things," adding that that pressure can take the joy out of activities for some kids.It's also important to check in with your child on how they're feeling about the structured activities they're already involved in. One way to do this is by noticing more subtle <a target="_blank" href="https://www.businessinsider.com/son-heading-to-college-fall-behaving-badly-2024-7">shifts in their attitude</a> toward their activities."What I recommend to parents, is if your child isn't asking for it or doesn't remember that today's the day for such and such activity, then don't take your child to it," Gray said. "If your child wants it, that's when it's good. There's no value in putting your child into an activity they don't want."Fener Sitkoff agreed that it's important to note your <a target="_blank" href="https://www.businessinsider.com/mom-connected-kids-through-activities-interests-teenagers-2024-5">child's interest in activities</a> but recommended checking in directly with them."Continue to check in with your kid to say: Are you still liking it? What do you love about this? Is there anything you don't love about it?" Fener Sitkoff said.<h2 id="deb509f9-2333-4b0e-91f2-485504bbac91">Downtime is key to a child's overall well-being</h2>Downtime and school activities are not mutually exclusive. It's imperative that a child participating in any activity, even one they love, still find time to prioritize downtime for their overall <a target="_blank" href="https://www.businessinsider.com/how-parents-set-up-their-kids-for-healthy-lives-2016-7">health and development</a>.Fener Sitkoff told Business Insider that downtime encourages creative thinking, <a target="_blank" href="https://www.businessinsider.com/let-your-kids-children-take-risks-learn-grow-2023-11">problem-solving</a>, reflection, and independence."If you think about when kids are on their own, to create their own experiences, <a target="_blank" href="https://www.businessinsider.com/ways-to-raise-a-more-confident-child-2016-3">they learn confidence</a>," Fener Sitkoff said. "It's like they're driving it themselves. They learn independence and decision-making. Then, when they are with peers, having unstructured downtime, they work on their social skills of how to work collaboratively with others."Although we may think about downtime as something we should fit into a <a target="_blank" href="https://www.businessinsider.com/manage-school-calendar-pdf-with-ai-google-chatgpt-2024-8">child's schedule</a> amid their other activities, it plays a key role that should be recognized as more than an afterthought."It's funny that we even call it downtime," Gray told Business Insider. "Children are designed to be doing children's things. They're designed to <a target="_blank" href="https://www.businessinsider.com/benefits-being-only-child-playful-parenting-2024-8">play, explore</a>, and follow their interests. They're not designed to be in all these adult-directed activities. It's true we call it downtime now as if they're stepping down from all the other stuff they're doing, but it ought to be that that's childhood. It ought to be what they're primarily doing."<h2 id="8239117a-cd4b-4a0b-bf67-3a6b6dd53554">Allow your child to set the tone of what their downtime looks like</h2>We all have different ideas of what downtime looks like in practice. For some kids, downtime may mean <a target="_blank" href="https://www.businessinsider.com/tricks-get-kids-interested-reading-books-2024-8">catching up on a book</a> alone; for others, it may mean playing a new video game they've wanted to try.Fener Sitkoff recommended parents center the <a target="_blank" href="https://www.businessinsider.com/work-life-balance-financial-goals-raising-son-2024-7">idea of balance</a> when considering their involvement with their kids' downtime."When parents schedule and dictate downtime, you're not creating that sense of <a target="_blank" href="https://www.businessinsider.com/autonomy-supported-parenting-choice-within-limits-improves-wellbeing-study-2021-1#:~:text=Offering%20kids%20%22choices%20within%20limits,Insider's%20homepage%20for%20more%20stories.">agency and autonomy</a> in a young person. On the flip side, if you give no structure, then you've let a young person who hasn't had all the life experiences you've had guide themselves," Fener Sitkoff said.For example, if your child wants to spend their downtime <a target="_blank" href="https://www.businessinsider.com/kid-screen-addiction-child-psychologist-parent-tips-2024-9">using technology</a>, you might allow them to do that, but help them create guidelines for how long they will use it Stikoff recommended. This might look like allowing your child to spend 30 minutes playing a digital game rather than more than four hours.Even if you provide guidelines on how long your child will spend engaging in specific forms of downtime, Gray recommends that parents allow their children to have downtime alone or with other children, but not always in the presence of adults."Children have to <a target="_blank" href="https://www.businessinsider.com/unsupervised-play-outdoors-kids-neighborhood-benefits-2024-5">get away from adults</a>. It's not even playing if there's an adult there telling you what to do," Gray said.Structured after-school activities can definitely benefit children's lives, but prioritizing their ability to have downtime, in whatever way your child chooses, is a key aspect of their development.

Relax with the extracurricular activities — downtime is equally important for kids

<ul class="summary-list"><li>Raja Rajamannar, chief marketing and communications officer of Mastercard, is one of BI's <a target="_blank" class="" href="https://www.businessinsider.com/most-innovative-chief-marketing-officers-2024-6">"Most Innovative CMOs"</a> of 2024.</li><li>Tapping into people's passions can inspire emotional connections with consumers.</li></ul>Marketers have long understood that emotion, not logic, drives most consumer behavior. A staggering 92% of purchasing decisions are driven by emotion, according to a Harvard Business School study. The idea dates all the way back to the 1950s, when television came to the fore and gave brands a groundbreaking medium for compelling, emotionally driven storytelling.Considering the profound advances in media, technology and connectivity since then, marketers are still strategizing about how to stir people's emotions. With attention more fragmented than ever, making a truly emotional connection has become a tall task. In this incredibly chaotic landscape, marketing leaders looking for a future-ready strategy are focusing on people's passions as a way to capture attention and affection — and achieve long-term growth.<h2 id="9ec2275f-ced8-47a4-97f9-c923b1aa3313">Focus on what unites us</h2>Defining your audience by its passions — and tapping into the positive emotions people associate with those passions — can be an effective way to connect in today's overwhelming environment. Instead of segmenting consumers by geography or age, targeting people by their passions like music, sports, food, or travel allows marketers to transcend traditional demographics.Recently completed proprietary research from Mastercard reveals just how powerful passions can be as a way to forge stronger connections with consumers. Three-quarters of people surveyed across eight markets say engaging in their passions is a part of their identity. Not only that, but passion-focused activities offer a form of stress relief and make them feel more like themselves, per the study. Music, often referred to as the universal language, is a prime passion category that unites and inspires. Take the recent<a target="_blank" href="https://www.contagious.com/news-and-views/cannes-lions-2024-entertainment-winners"> Johnnie Walker campaign</a> that aimed to give long-overdue recognition to the 88-year-old "forgotten mother of Bossa Nova" Alaíde Costa for her role in pioneering the smooth and rhythmic Brazilian music genre. It culminated in a Carnegie Hall concert, which she was denied decades ago. Powerful. The campaign went on to win a Cannes Lions Grand Prix in June in the music category.Mastercard embraces this passion-based approach to engage a wider audience in more meaningful ways. By focusing on what truly excites people, we're able to curate unique experiences for a broader range of cardholders, fostering deeper and more lasting connections. Our <a target="_blank" href="http://priceless.com">priceless.com</a> site offers a variety of special experiences, categorized by passion and available only with Mastercard.<h2 id="f850eeb1-dd6f-44f5-b754-0dc3fa74ed87">The proof is in the passion</h2>The days of brands brashly pushing ads on people are over. Consumers expect brands to add value to their lives, and marketers must be able to deliver on that expectation in new and dynamic ways. The research suggests a significant opportunity for brands: people want brands to act as an "incentivizer" in the passion space, rewarding them and helping them feel justified pursuing their passions.In fact, our survey data identifies eight key roles that brands can play to either accelerate consumers' passions or alleviate their frustrations — one of which is fostering shared connections around their passions. A prime example of this is how Nike taps into peoples' passion for wellness, which is ranked the second highest among those we surveyed, while strengthening community bonds. Nike has cultivated a global community through its <a target="_blank" href="https://affiliate.insider.com?h=dbba50699d99b1a6fd0474ee43e851742a7cae2f110133f30d422b3b1cdb97b9&amp;postID=670060ce0c43543ec7aada6f&amp;postSlug=consumers-passions-emotional-connection-stronger-marketing-strategy-growth-behavior-audience-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.nike.com%2Fnrc-app">Nike Run Club </a>app, which brings runners together virtually and physically. The app provides coaching, tracking, and social features, connecting people over their shared passions for running. They also host live running events and challenges to further foster this sense of community.<h2 id="ae05c97c-10b6-4f61-8e5a-6528f6327668">The complexity of emotion</h2>Traditional market research involves surveying people to understand their purchasing motivations. While this is effective in some cases, uncovering the emotions consumers associate with a brand or product is often too complex a task for this type of research. For instance, someone who prefers blue candy to green may attribute the preference to taste but, in reality, may be influenced by a positive association with the color itself. When consumers respond to surveys, they often overly rationalize or deliberate their reasoning, not capturing the complete emotional story.We must continue to find new ways to understand impact. One powerful solution is neuromarketing, which taps into neuroscience to understand the subconscious drivers of emotion. Neuromarketing can derive an abundance of data-driven insights from study participants, allowing us to discern consumers' emotional associations with logos, messages, storylines, colors, and more. By revealing how brands truly resonate with people, neuromarketing offers new opportunities to enhance the effectiveness of their campaigns.Inspiring an emotional response is an incredibly challenging task for marketers at a time when consumers feel bombarded by messages. By tapping into the interests people already identify with and feel connected to, brand leaders can step forward as purveyors of passion — creating emotional impact that consumers will never forget.

The power of passions: Tapping into consumers' emotional bonds

<keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">Festive season</keyword> in India is in full swing and kickstarted with the first day of <keyword id="20023931" type="General" weightage="100" keywordseo="Navratri" source="keywords">Navratri</keyword> on Thursday (October 3). The day marks the onset of a nine-day long festival which people celebrate in their own ways. The festival of Navratri will end with <keyword id="20211589" type="General" weightage="20" keywordseo="Dussehra" source="keywords">Dussehra</keyword> or Vijayadashami on Saturday, October 12 this year. This will be followed by various other festivals such as Karwa Chauth, Dhanteras, Diwali, Bhai Dooj, Chhath Puja, and Tulsi Vivah. Each year, when people are in festive mode, the demand for <keyword id="21040964" type="General" weightage="20" keywordseo="Indian-goods" source="keywords">Indian goods</keyword> reaches its peak and drives business. And this year, economic activities in the country are set to get an even bigger boost. The Confederation of All India Traders (<keyword id="20143308" type="General" weightage="20" keywordseo="CAIT" source="keywords">CAIT</keyword>) is expecting a significant rise in <keyword id="20337020" type="General" weightage="20" keywordseo="retail-business" source="keywords">retail business</keyword> during the Navratri festival, projecting a 43% increase in sales over the next 10 days. A CNBC report says that according to CAIT, last year’s 10-day Navratri period saw a business of ₹35,000 crore. This year, the organisation expects an even bigger boost in <keyword id="19950652" type="General" weightage="20" keywordseo="economic-activity" source="keywords">economic activity</keyword> across India, with Delhi alone projected to contribute over ₹8,000 crore during the festive season. The festive period, which began with Ganesh Chaturthi and includes major celebrations like Diwali and Christmas, resulted in a cumulative business of ₹3.75 lakh crore last year, as per CAIT’s data. Praveen Khandelwal, CAIT’s Secretary General Emeritus and Member of Parliament from Chandni Chowk, pointed out that there is a growing trend among consumers to prefer Indian-made products, especially traditional clothing like sarees, lehengas, and kurtas. Additionally, small vendors selling flowers, lamps, incense sticks, and other festive decorations are also expected to see a boost in demand during this period.

Navratri 2024: Delhi might witness business of ₹8,000 crores this festive season, predicts CAIT

<keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> CEO <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> recently made headlines for engaging in a war of words with comedian <keyword id="20947562" type="General" weightage="20" keywordseo="Kunal-Kamra" source="keywords">Kunal Kamra</keyword> on Twitter (X). The comedian had criticised Ola EV's customer service, sharing photos of Ola scooters gathering dust at a dealership. Aggarwal was quick to respond to his post, saying that he can pay him more for what he got for this "paid tweet." Now, a day after the spat, Ola Electric has been slapped with a show-cause notice by <keyword id="20127554" type="General" weightage="20" keywordseo="CCPA" source="keywords" meta.keywordsubtype="org" meta.entityname="CCPA" meta.hostid="261" meta.entityid="CCPA">CCPA</keyword> (Central Consumer Protection Authority) for increased customer service complaints. <h2>CCPA issues show-cause notice to Ola Electric </h2> According to a report in ANI, the CCPA took official action against Ola Electric on October 8, issuing the notice to the company in response to a growing number of grievances from consumers regarding the its electric scooters. According to a filing made by Ola Electric, the company acknowledged receipt of the notice, confirming that it would respond to the CCPA within the 15-day timeline provided. The notice, which currently does not impose financial penalties, signals the government’s intent to address concerns over <keyword id="21054298" type="General" weightage="20" keywordseo="consumer-rights" source="keywords">consumer rights</keyword> violations and misrepresentation. Ola Electric reassured stakeholders that this regulatory development would not affect its financial or operational activities in the immediate term. <div type="Article" hostid="261" msid="114004646" title="'Pay your staff properly, solve the 80,000 complaints first': Internet reacts on Ola CEO Bhavish Aggarwal and Kunal Kamra feud" mstype="2" mssubtype="0"></div> <h2>Complaints against Ola Electric</h2> The notice from the CCPA comes amid a surge in consumer dissatisfaction regarding Ola Electric’s scooters, which has become increasingly evident both through official channels and on social media. The National Consumer Helpline has received over 10,000 complaints regarding issues such as delayed deliveries, service inefficiencies, and persistent mechanical problems with Ola scooters. Allegations of <keyword id="20610549" type="General" weightage="20" keywordseo="misleading-advertisements" source="keywords">misleading advertisements</keyword> and unmet service promises have further eroded trust in the company, which initially captured consumer enthusiasm with its vision of accessible, eco-friendly transportation Specifically, many complaints have centered around recurring issues with vehicle components, delays in promised services, and unfulfilled refund requests following booking cancellations. This growing wave of discontent has pushed the regulatory spotlight onto the company, forcing it to confront its service shortcomings more directly. <h2>Kunal Kamra vs Bhavish Aggarwal </h2> The growing backlash against Ola Electric came into sharp public focus when comedian Kunal Kamra took to social media to criticize the company’s service failures. In a post on X, Kamra shared a photograph of an Ola dealership with several scooters gathering dust. He tagged prominent figures like Nitin Gadkari, Minister of Road Transport and Highways, questioning the state of EV adoption in India and calling on the Department of Consumer Affairs to weigh in on the matter. <div type="Article" hostid="261" msid="113984574" title="‘Comedian ban na sake, Chaudhary banne chale’: Ola CEO Bhavish Aggarwal after Kunal Kamra criticises Ola EV service" mstype="2" mssubtype="0"></div> Kamra’s post quickly garnered attention, inviting frustrated consumers to share their experiences with Ola Electric in the comments. In response, Ola Electric CEO Bhavish Aggarwal fired back, accusing Kamra of engaging in a “paid tweet” to damage the company’s reputation. Aggarwal challenged Kamra to work with Ola to improve services, offering to pay him more than what he supposedly earned from his comedic career. The heated exchange between the two personalities quickly went viral and got people talking. <h2>Share Prices plummet </h2> The consumer dissatisfaction and negative publicity surrounding the company have had immediate repercussions in the financial markets. Following the social media spat between Kamra and Aggarwal, Ola Electric’s share prices took a significant hit, falling by 8% to Rs 90.82 on the BSE. This marks a 43% drop from the company’s all-time high of Rs 157.5, though the stock remains 18% above its IPO price of Rs 76.

Government takes action against Ola Electric for customer complaints, Bhavish Aggarwal’s company slapped with show-cause notice

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning. Milton has strengthened once again into a Category 5 hurricane. Gas stations across Florida are already <a target="_blank" rel="noopener" href="https://www.businessinsider.com/florida-gas-stations-out-of-fuel-before-hurricane-milton-landfall-2024-10">running out of fuel</a> as millions of people try to flee.In today's big story, we got our first interest-rate cut, <a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-economy-recession-no-landing-borrowing-2024-10">but it doesn't feel like it for many consumers</a>.What's on deck:<ul><li>Markets: Roblox is the latest target of <a target="_blank" href="https://markets.businessinsider.com/news/stocks/roblox-stock-price-short-seller-hindenburg-report-gaming-inflated-metrics-2024-10">short-seller Hindenburg Research</a>.</li><li>Tech: The DOJ is considering asking a judge to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/google-search-antitrust-case-doj-remedy-alphabet-2024-10">break up Google</a>.</li><li>Business: Walt Disney World will temporarily <a target="_blank" href="https://www.businessinsider.com/disney-world-shut-down-hurricane-milton-florida-orlando-parks-2024-10">close its doors</a> for Hurricane Milton.</li></ul>But first, we're canceling the landing.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">So much for the help</h2><div type="image" title="Business person in a suit holding scissors, preparing to cut strings suspending a stack of cash, with a group of people standing below" height="1500" width="2000" msid="114087130" hostid="261" sizebytes="264596"></div>The US economy is having an Instagram vs. reality moment.Last month's interest-rate cuts were supposed to kick off a new era. After two years of battling inflation, the Federal Reserve finally claimed victory. More rate cuts were coming, which meant lower borrowing costs for everyone.<a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-economy-recession-no-landing-borrowing-2024-10">But the relief many were hoping for isn't materializing</a>, writes Business Insider's Jennifer Sor. Let's break down why.We finally got an interest-rate cut, but borrowing costs are still high. What gives? First off, last month's interest-rate cut wasn't going to provide immediate relief. It takes time for cuts to trickle down to consumers. The Fed also telegraphed the cut, so the market started pricing it in.That seems fair, but borrowing rates are still rising in some cases. Yes, the average 30-year fixed mortgage rate <a target="_blank" href="https://www.businessinsider.com/mortgage-rate-increase-since-federal-reserve-cut-interest-rates-housing-2024-10">has gone up 47 basis points since the Fed cut rates</a>, writes BI's Matthew Fox.So the Fed cut rates but borrowing costs went up? How is that possible? You can thank the 10-year Treasury yield, <a target="_blank" href="https://www.businessinsider.com/economy-outlook-impact-of-rate-cuts-10-year-treasury-yields-2024-9">which is a key benchmark used by</a> lenders. It went above 4% this week for the first time since August.I'm confused. Why is there such a discrepancy between the two? The Fed's rate is focused on the short-term while the 10-year Treasury reflects a longer-term view (hence the name). As a result, the 10-year bond yield can diverge from the Fed's benchmark rate.Gulp So what does the 10-year Treasury rising mean for the economy? Big picture, it's a good thing. Thanks to a stellar jobs report, investors have a positive view of the economy's future. But the downside is we shouldn't expect the slew of rate cuts investors were banking on. The economy will likely avoid a recession and not need the help.Is this a soft landing or a hard landing? Neither. It's considered a "no landing" because the economy remains strong, but in a way that risks reigniting inflation, which would hamstring the prospect of future stimulative rate cuts.What's with all the aviation metaphors? I don't know.OK, so at this rate, will I ever be able to buy a house? It's honestly not as bad as it seems. BI's James Rodriguez, who's covered the housing market for a while, <a target="_blank" href="https://www.businessinsider.com/housing-market-ice-age-homebuyers-mortgage-rates-spring-real-estate-2024-10">has a piece on why the industry's ice age is starting to thaw</a>. There was a 34% year-over-year increase in active listings in September. More inventory will help unstick the economy.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>The Kremlin says <a target="_blank" rel="noopener" href="https://www.businessinsider.com/kremlin-says-trump-sent-putin-covid-tests-pandemic-denies-calls-2024-10">Trump sent Putin COVID tests</a> during the pandemic, but denies subsequent calls.</li><li>Boeing's negotiations with union leaders <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/boeing-strike-negotiations-union-leaders-break-down-after-two-days-2024-10">break down 2 days after restarting</a>.</li><li>Exclusive: AI cloud startup Ori is in talks to raise up to $80 million in funding, <a target="_blank" href="https://www.businessinsider.com/ori-gpu-ai-startup-talks-raise-funding-nvidia-2024-10">sources say</a>.</li><li>A surprising company <a target="_blank" rel="noopener" href="https://www.businessinsider.com/robotaxi-ridesharing-tesla-waymo-uber-2024-10">might beat Elon Musk</a> in the robotaxi race.</li><li>Influencers are swiping a new black card at <a target="_blank" href="https://www.businessinsider.com/influencer-marketing-startup-oth-network-pays-creators-products-services-2024-10">restaurants, spas, and fitness studios</a>.</li><li>I don't allow Roblox in my house. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/roblox-not-allowed-my-child-kids-why-explained-2024-10">Here's why</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo of wave hitting Florida park" height="1000" width="2000" msid="114087135" hostid="261" sizebytes="112966"></div><ol><li>The Hurricane Milton trade is in full effect, according to US natural gas futures. Energy traders are betting the storm barreling toward Tampa will cause power outages in multiple states. <a target="_blank" href="https://markets.businessinsider.com/news/commodities/hurricane-milton-power-outage-florida-electricity-natural-gas-prices-futures-2024-10">Futures on US natural gas have dropped 8% over the past few days</a> as power plants are expected to be left idling as demand evaporates.</li><li>A short-seller takes aim at Roblox for "lying to investors." Hindenburg Research accused the online gaming platform of <a target="_blank" href="https://markets.businessinsider.com/news/stocks/roblox-stock-price-short-seller-hindenburg-report-gaming-inflated-metrics-2024-10">inflating its user numbers</a> by including bots and players with multiple accounts. It also called Roblox a "pedophile hellscape," claiming child users are exposed to grooming and pornography. A Roblox spokesperson said in a statement it "totally" rejected the claims made in the report.</li><li>Bank of America is bullish on stock gains ahead of this earnings season. "The bar isn't high," BofA analysts said in a Tuesday note. Stocks should rise as long as companies report they're <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stocks-q3-earnings-lower-rates-stocks-returns-outlook-bofa-2024-10">feeling good about lower rates</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Vinod Khosla" height="900" width="1200" msid="114087136" hostid="261" sizebytes="76966"></div><ol><li>OpenAI's exec exodus might actually be a good thing, Vinod Khosla says. The legendary investor backing OpenAI has <a target="_blank" href="https://www.businessinsider.com/openai-vinod-khosla-fixing-ai-image-2024-10">plenty of confidence in the startup</a>, even after multiple high-profile exits. He also thinks the AI industry is catching strays from "Luddites" — those who think the tech is a slippery slope into a Westworld-ian apocalypse.</li><li>The DOJ may seek to break up Google. After a major antitrust lawsuit against Google, a federal judge ruled that it illegally monopolized online search. Now, prosecutors are proposing "behavioral and structural remedies." If enacted by a judge, the changes could <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/google-search-antitrust-case-doj-remedy-alphabet-2024-10">force a major reorganization or even a breakup</a> of some of Google's basic businesses, including its search engine.</li><li>Where are the Gen Z Mark Zuckerbergs? Gen Zers, aged 13 to 27, haven't produced any big-name tech founders like previous generations. But don't just blame it on Zoomers' blasé attitudes toward work — <a target="_blank" href="https://businessinsider.com/gen-z-tech-founder-gap-zuckerberg-bezos-holmes-2024-10">there's a bigger reason</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A screenshot of zara.com" height="1500" width="2000" msid="114087133" hostid="261" sizebytes="93076"></div><ol><li>Zara's bizarre website is the secret to its success. The site, which feels more like a magazine spread than an online retailer, is routinely roasted for being "virtually unusable." But experts say <a target="_blank" href="https://www.businessinsider.com/zara-website-memes-mocked-secret-success-aspirational-luxury-consumers-2024-10">there's a method to Zara's madness</a>: It's meant to project an upscale image, distancing itself from other fast-fashion brands.</li><li>The "happiest place on earth" takes a rain check. There are literally storm clouds forming over Florida's family-friendly amusement parks, as the state braces for Hurricane Milton. It's a <a target="_blank" href="https://www.businessinsider.com/disney-world-shut-down-hurricane-milton-florida-orlando-parks-2024-10">rare occasion for Disney World</a>, which has only closed its gates nine times in more than 50 years.</li><li>Tesla executives are hitting the exits. In the past week, <a target="_blank" href="https://www.businessinsider.com/elon-musk-loses-4-top-executives-ahead-of-robotaxi-event-2024-10">four of Elon Musk's direct reports have announced they're leaving</a>, or have already left, the company. Their departures come ahead of Robotaxi Day tomorrow, where Musk is tasked with convincing investors that Tesla is more than just a car company.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Hurricane Milton is projected to hit the west coast of Florida, including the Tampa Bay area.</li><li>Federal Open Market Committee's September meeting minutes and forecast published.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

Why the interest-rate cut isn't delivering the relief consumers were hoping for

<ul class="summary-list"><li>China has announced a slew of supportive policies to give its economy a boost.</li><li>But the past week's stimulus blitz did not offer fiscal support to China's discouraged consumers.</li></ul>China's latest stimulus blitz offers everything but one key fix: new incentives to revive consumers.In a rare press conference on Tuesday, Beijing demonstrated fresh resolve to reverse the country's economic malaise. An adrenaline shot <a target="_blank" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9">worth of policy was announced</a>, ranging from mortgage financing to lower interest rates and reductions to the reserve requirement ratio.JPMorgan estimates that the latter will inject around 1 trillion yuan into the country's banking system. That's alongside other liquidity support and plans for a stock stabilization fund.Markets have lauded the measures as a step in the right direction and a meaningful improvement compared Beijing's piecemeal support initiatives thus far. The country's equities have ballooned on the news, leading to the largest weekly rally <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-27/china-stocks-climb-as-fiscal-stimulus-bets-woo-more-buyers">since 2008.</a>But economists, though also encouraged, warn not to overestimate what these policies can achieve."Although the numbers sound big and the efforts seem wide-reaching, this stimulus announcement alone may not be enough to bring the entire Chinese economy out of the doldrums," Liz Young Thomas, Head of Investment Strategy at SoFi, said in written commentary.<h2 id="d53ed0b2-fd6d-434c-80d4-1201796d73bb">Want change? Help consumers</h2>"This economy has many deep, structural, fundamental problems that cannot be turned around just simply by a stimulus package," Tianlei Huang told Business Insider. "I think it's probably a bit too early to celebrate."The Peterson Institute for International Economics research fellow explained that Tuesday's stimulus boost will be offset by the country's major fiscal contraction. The government has simply not spent enough on consumers, even though an economic recovery depends on them.A lack of domestic spending sits at the crux of China's turmoil: consumers are so savings-oriented that China is fighting a deflation spiral. Meanwhile, buyers don't want to touch real estate, a sector so big it makes up as much as 30% of the nation's GDP, Huang said.Despite its size, the market suffers from debt, defaults, and unsold inventory.In Huang's view, Beijing needs to start spending more on people rather than its consistent focus on areas like infrastructure. Addressing the housing downslide might also boost confidence, given how many individuals depend on the market for work.While Tuesday's stimulus package didn't address fiscal support, Chinese officials appear to be getting around to it. On Friday, <a target="_blank" href="https://www.reuters.com/markets/asia/chinas-central-bank-cuts-banks-reserve-requirement-ratio-by-50-bps-2024-09-27/">Reuters</a> reported that China plans to issue over $284 billion worth of yuan in special sovereign bonds — a move meant to shore up fresh stimulus.That followed a day after Chinese leadership noted a need to support household consumption and a stable real estate market. These rare comments were made at the Communist party's monthly Politburo meeting, <a target="_blank" href="https://www.reuters.com/world/china/china-vows-necessary-spending-hit-economic-growth-target-2024-09-26/">Reuters</a> said.Meanwhile, Barclays cited that some policymakers have recently advocated for an even larger fiscal stimulus package, amounting to as much as $1.4 trillion worth of yuan, to be unleashed over two years.The bank considers this a "bazooka" stimulus scenario, which would snap up housing surplus, prop up consumption, and continue to ease debt burdens and fund public services. By Barclay's estimates, this could take GDP growth to 5% in 2025.The scenario reported on Friday will trigger a milder boost, raising next year's growth to 4.4%.As to this year's growth, economists have turned anxious that Beijing may miss its <a target="_blank" class="" href="https://www.businessinsider.com/china-growth-targets-axa-investment-property-sector-industrial-production-2024-9">growth target of 5%</a>. Even if China commits to bigger fiscal support in the near term, it could be too late to change things this year, Huang said.He noted a lag between bond announcements and actual bond issuance. Winter is also around the corner, which can slow down activity in stimulus-targeted sectors, such as infrastructure."Sounds weird, but that was actually one of the major reasons why additional Treasury bond issued last year since October was actually not spent until earlier this year," he said.To be sure, fiscal expansion is not enough to entirely shore up consumer faith. Policies need to address why consumers are not spending, Bank of America wrote on Wednesday."We argue the key is to fix an increasingly prevalent problem to save China from the economic malaise — the lack of positive incentives at the micro level in both public and private sectors," the bank said.For instance, Chinese consumers are staying away from new housing projects even as China has introduced <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-stimulus-package-push-wont-reverse-property-market-crisis-2024-9">looser mortgage rates and downpayment rules</a>.Huang explained this on the fact that new construction is simply not getting finished, reducing fresh demand — some shoppers are waiting for years to receive their purchase. In his view, the government needs to be more direct in funding unfinished projects.

China's massive stimulus is missing a key ingredient: a way to revive the nation's consumers

Prime Minister Narendra Modi, on Wednesday, congratulated Reserve Bank of India's (RBI) Governor, Shaktikanta Das for bagging an A+ grade rating in the Global Finance Central Banker Report Cards 2024. Prime Minister in a post on social media "X" said, "Congratulations to RBI Governor Shri @DasShaktikanta for this feat, and that too for the second time. This is a recognition of his leadership at the RBI and his work towards ensuring <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> and stability." <keyword id="20850250" type="General" weightage="20" keywordseo="RBI-Governor-Das" source="keywords">RBI Governor Das</keyword> has been awarded the A+ grade rating for the second consecutive year. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 100 key countries, territories, and districts, as well as the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. Grades are based on an "A+" to "F" scale for success in areas such as <keyword id="21364628" type="General" weightage="20" keywordseo="inflation-control" source="keywords">inflation control</keyword>, economic growth goals, currency stability and <keyword id="22859834" type="General" weightage="20" keywordseo="interest-rate-management" source="keywords">interest rate management</keyword>. "A" represents an excellent performance, down through "F" for outright failure. "Central bankers have waged war against <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> over the past few years, wielding their primary weapon: higher interest rates. Now, countries around the world are witnessing the tangible results of these efforts, as inflation has dropped significantly," said Global Finance founder and editorial director Joseph Giarraputo. The RBI has been successful in controlling the larger macroeconomic situations in the country. The apex bank is actively working to push economic growth through its <keyword id="20900764" type="General" weightage="20" keywordseo="monetary-policies" source="keywords">monetary policies</keyword>. The RBI recently kept the the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> unchanged at 6.5 per cent after the deliberations of the Monetary Policy Commitee meeting earlier this month. The move reflects the central bank's cautious approach amid ongoing economic uncertainties. Announcing the monetary policy decisions, Das had said that the decision to keep the repo rate steady comes amidst persistent concerns about inflation, which remains above the RBI's target range. RBI Governor Das said that the inflation will moderate from July onwards as the monsoon has improved and global food prices have shown signs of easing in July. The Q1 <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) inflation for the current financial year (2024-25) is projected at 4.5 per cent. CPI inflation for the first quarter of the next financial year (Q1 2025-26) is projected at 4.4 per cent, as announced by the RBI Governor. India's retail inflation, after breaching 5 per cent in June, softened drastically in July. In line with the moderation in retail inflation, wholesale inflation in India too witnessed a sharp decline in July. The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 2.04 per cent (provisional) for July 2024 (over July 2023).

PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Report

<ul class="summary-list"><li>Goldman Sachs' Jan Hatzius says the US economy is doing fine and slowdown fears are "overblown."</li><li>Solid second-quarter earnings and a strong July retail sales report bolstered confidence in economic stability.</li></ul>The US consumer is doing just fine, and so too is the economy.That's according to <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs'</a> top economist Jan Hatzius, who pointed to second-quarter earnings results as evidence that fears of an imminent slowdown are "overblown.""The last couple of weeks have basically said that the economy is still doing fine. And typically when recessions occur, things happen pretty quickly. So if you see a couple of weeks of data that say the economy is still doing fine, you want to put some weight on that," Hatzius told CNBC on Monday.Fears of an economic slowdown and potential recession were heightened earlier this month following the release of <a target="_blank" class="" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">a weaker-than-expected July jobs report.</a>Select second-quarter earnings commentary on the consumer from some companies geared toward lower-income households <a target="_blank" class="" href="https://www.businessinsider.com/shoppers-spending-less-retailers-brands-cutting-prices-economy-explained-why-2024-7">also didn't exude economic confidence from investors.</a>But with 93% of <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> companies having reported results, Goldman Sachs crunched the numbers and found that the economy is fine and a recession is not imminent."Reports of concern over the US consumer are greatly exaggerated," Hatzius said in a note on Sunday. "Our quantitative measure of sentiment around the consumer on earnings calls improved sequentially, sales growth at consumer-facing companies slowed bt remains healthy, and real income growth appears solidly positive across all income groups."The bank said the second-quarter earnings are on track to grow 11% year-over-year, which was more than the expectation of 9% at the start of earnings season, and revenue growth of 2.4% after accounting for inflation remains solid."This adds to our conviction that economic activity is rising roughly in line with our estimate of short-term potential GDP growth," Hatzius said.Additionally, earnings growth expectations for 2025 have jumped by one percentage point since the start of the second-quarter, which bucks the historical pattern of downward growth revisions.A strong <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-recession-outlook-economy-inflation-job-market-bull-rally-2024-8">July retail sales report released last week</a> also bolstered confidence in the economy and helped fuel the stock market's best weekly gain of 2024, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-fed-jackson-hole-after-years-best-week-2024-8">with the S&amp;P rising nearly 4%.</a>Taking all of the recent data into consideration, Hatzius reduced the probability of an economic recession to 20% from 25%, and said the odds of a recession could fall even further in early September.If the August employment report is "ok or better we'll probably take it back to 15%," Hatzius said to CNBC.The August jobs report will be released on September 6.

You Searched For "consumer activism" and got 12 results

Karwa Chauth festivities to boost economy by ₹22,000 crore

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Government takes action against Ola Electric for customer complaints, Bhavish Aggarwal’s company slapped with show-cause notice

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Why the interest-rate cut isn't delivering the relief consumers were hoping for

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China's massive stimulus is missing a key ingredient: a way to revive the nation's consumers

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PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Report

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The US consumer is strong and fears of a recession are 'overblown' based on the latest earnings results, Goldman Sachs says

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