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New Delhi [India], March 6 (ANI): The Delhi All <keyword id="20858468" type="General" weightage="20" keywordseo="india-institute-of-medical-sciences" source="keywords">India Institute Of Medical Sciences</keyword> (<keyword id="19914075" type="General" weightage="20" keywordseo="aiims" source="keywords">AIIMS</keyword>) has said that the problem of poor eyesight in children has increased in the last 10 years. While earlier this problem was present in 13 to 15 per cent of children, it has increased to 20 to 25 per cent in the last 10 years. That means if there are 50 children in a classroom, then out of them there will be 15 to 20 children who require glasses. Dr <keyword id="20858465" type="General" weightage="20" keywordseo="rohit-saxena" source="keywords">Rohit Saxena</keyword>, professor of ophthalmology and pediatrics, <keyword id="20858467" type="General" weightage="20" keywordseo="rp-center" source="keywords">RP Center</keyword> at AIIMS, said that in earlier times, only 3 to 4 per cent of children required spectacles but now this number has increased. "Earlier, the problem of vision defects was seen in children 10 to 12 years of age. But now, at the age of 6 to 7 years, the eyesight of children has started deteriorating and they need to wear glasses," said the doctor. Not only this, but the doctor also said that even children under 4 years of age are facing the problem of myopia, or vision defect and the reason for its increase is the continuous use of gadgets like mobile phones, tablets, etc. in children. Children keep using mobile phones and other gadgets for many hours and parents do not interrupt them, Dr Rohit said, adding that before Corona, when parents used to come to us, they used to complain about television hours and ways to solve them. "But now parents say that he uses the phone only for 2 hours, which means that there has been a change in the mentality of the parents, which is affecting the eyesight of children," he added. Dr Rohit Saxena said that if children are studying online, then parents should ask them to study on a computer or laptop only and use smart screens for entertainment. "The distance should be equal to one hand and if the distance is greater than that, then it will also be fine," he added. Professor <keyword id="20858466" type="General" weightage="20" keywordseo="dr-saxena" source="keywords">Dr Saxena</keyword> of the RP Center said that in the last 30 years, the problem of poor eyesight in children has increased rapidly. In this regard, the countries of East Asia are at the forefront. This includes countries like China, Singapore, and Hong Kong. "In the countries of East Asia, 80 to 90 per cent of children suffer from visual impairment. Not only this, if we talk about <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, this problem is continuously increasing among children in India," said the doctor. "Especially earlier, we used to think that the problem of visual impairment was less common in children in rural areas, but now the figures coming out show that even in rural areas, the problem of visual impairment is seen in small children. This means that even in those areas, the use of mobile phones and other gadgets has increased among children," he said. Dr Rohit said that in the data collected from rural areas in the last 10 years, earlier, 3 to 4 per cent of children had the problem of visual impairment, which has now increased to 7 to 8 per cent. The doctor said that it is very important to increase digitalization, which is a good thing. People are becoming aware of this, even in rural areas. Along with this, excessive use of mobile phones, tablets and other gadgets is harmful to children. "Parents need to be made aware of this and will have to explain this to their children since young minds are not aware of the potential damage," he stated. In such a situation, there are some symptoms. If the symptoms are visible in your child, then pay attention to them. For example, if the child is not able to copy the homework from the board in the class, if the child is copying homework from the other child's notebook, or if the child is watching the board with eyes slightly closed. Additionally, if the child is watching TV very closely, reading books very closely or has watery eyes and is used to constant rubbing of their eyes, these are all symptoms of a vision defect or myopia. Regarding this, parents should immediately take their children to the doctor and get their eyes checked. Along with this, if children use the phone continuously or have to do homework online, then parents should keep in mind that they must take a 5-minute break every half hour and always keep their computer or laptop near the window so that their children keep looking outside while studying. Along with this, if possible, study in the open on the balcony or terrace. Children need to go out 2 hours during the day in the morning or anytime before evening. (ANI)

Poor eyesight in children increased in past 10 years: AIIMS

A general perception is that most of the rural population is not well-versed in digital banking in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. However, in what can be termed as a revelation, according to a pan-India "Financial Literacy and Inclusion survey" conducted by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>), digital banking awareness and knowledge among the rural and urban population across the country is at par with each other, with the average being 11.7 for both segments on a score of 21. The survey was based on three parameters namely, financial knowledge, attitude and behaviour. On a total score of 21, the average urban and rural scores were 11.7. Zone-wise, the scores were as follows: In the north zone, the scores in urban and rural areas were at par at 11.5 each. Similarly in the east zone too, the scores were 12.1 for both rural and urban areas. In the central zone, the score for urban areas was 12.5 and for rural areas, it was marginally less at 12.1. The West zone also showed neck-to-neck scores with urban areas recording 12.6 and rural areas showing 12.5. In the south zone, the urban area score was 11.2 while the rural area score stood at 10.3. With both urban and rural areas not showing much of a difference across the country according to the RBI survey, it indicates that in terms of awareness about digital banking, a lot needs to be done to improve knowledge across all strata of society. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/fm-nirmala-sitharaman-admitted-to-aiims-hospital-say-news-reports/articleshow/96513576.cms">FM Nirmala Sitharaman admitted to AIIMS Hospital, say news reports</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/central-bank-of-india-to-raise-up-to-1500-crore-this-fiscal/articleshow/96520295.cms">Central Bank of India to raise up to ₹1,500 crore this fiscal</a>

Financial literacy poor across urban, rural population in country: RBI survey

A parliamentary committee has recommended setting up population-based cancer registries in rural areas to help data-driven and evidence-based policy formulation. It has also suggested raising taxes on tobacco products citing that increasing their market price would make them less affordable. This will result in lower consumption and decrease the risk of tobacco-related diseases, including cancer, the panel said. The <keyword id="46535" type="General" weightage="80" keywordseo="health-ministry" source="Orion">health ministry</keyword> must pursue with the Department of Revenue to expedite the decision on raising taxes on tobacco products, the Department-related Parliamentary Standing Committee on Health and Family Welfare said in its 147th report. It was presented in <keyword id="48510" type="General" weightage="80" keywordseo="rajya-sabha" source="Orion">Rajya Sabha</keyword> on Friday. It said for better policy formulation on cancer treatment and uniform distribution of cancer care, there is an urgent need to have realistic information about the incidence and type of cancers across the country. The committee said that the health ministry should take appropriate steps to persuade state governments to participate in the formulation of the cancer atlas so that the entire Indian population is covered under Population Based Cancer Registries (PBCRs). This will help in data-driven and evidence-based policy formulation, it said. It suggested that PBCRs can be linked to the Ayushman Bharat Digital Mission to record data of cancer patients to get real-time information on cancer-related illnesses. "The committee has taken note that currently PBCRs cover 16 per cent of the Indian population only. Therefore, it is quite necessary that the National Cancer Registry Programme cover the population of India extensively, in order to have a unified national database for scientific understanding of epidemiology of cancer," the report said. Stressing a robust screening mechanism for cancer, the committee suggested that one day in a month can be fixed for cancer screening. While appreciating the government's impetus on an institutional framework for cancer care and management and financial support for combating cancer, the committee said cancer must be dealt with separately instead of being a part of other lifestyle and non-communicable diseases. It recommended the demerger of the National Cancer Control Programme (NCCP) from the National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular diseases and Stroke (NPCDCS) to have a better focus on screening, early diagnosis and management of cancer. In its report, the committee said that in all the leftover districts Non-Communicable Diseases (<keyword id="131571" type="General" weightage="50" keywordseo="ncd" source="Orion">NCD</keyword>) clinics should be set up at the earliest and more healthcare professionals be trained for screening of common cancer. The panel highlighted that adequate human resource in cancer centres is crucial for their complete operationalisation and recommended setting up subsidised or free accommodation for patients and their relatives near cancer hospitals. The National Health Authority (<keyword id="672062" type="General" weightage="80" keywordseo="nha" source="Orion">NHA</keyword>) should consider including all types of cancer diagnostic tests under the Ayushman Bharat <keyword id="6524177" type="General" weightage="50" keywordseo="pradhan-mantri" source="Orion">Pradhan Mantri</keyword> Jan Arogya Yojana (AB-PMJAY), it said. It appreciated that in compliance with the committee's recommendations, the NHA has approved the inclusion of diagnostic tests under the AB-PMJAY with respect to breast, cervical and oral cancer. The committee noted that the health ministry has set up the e-Sanjivini Ayushman Bharat-Health Wellness Centre (AB-HWC), where doctor-to-doctor telemedicine services can be delivered through the hub and spoke model. It recommended that this model should be strengthened so that the opinions of experts can be provided to cancer patients in isolated and backward areas. The ministry should instruct National Cancer Grid (<keyword id="1502308" type="General" weightage="50" keywordseo="ncg" source="Orion">NCG</keyword>) officials to explore group negotiation of commonly used high-value cancer drugs with pharmaceutical companies through a transparent central tendering platform to have substantial discounts on cancer drugs. Since the mandate of the National Pharmaceuticals Pricing Authority is to ensure the availability of drugs at affordable prices, the committee reiterated that the pricing of cancer drugs should not be guided by profit as in the case of the other businesses. If it is not possible to reduce the profit margin of such drugs, the government may subsidise it, it said in its report. "The committee feels that the submission made by the Secretary, Department of Pharmaceutical, before the committee that over a period of about eight years or so the actual price increase in the drugs had been only between two to four per cent, does not mean that each manufacturer keeps the price of the drug below 10 per cent, as the mechanism permits them to make the hike up to 10 per cent," the report said. The committee said the government should rationalise the annual price hike limit of cancer drugs from 10 to five per cent in order to rescue poor cancer patients. It also suggested the ministry look at subsidising the healthcare cost for cancer patients and declare radiotherapy service as an essential commodity. The ministry should take the matter on board immediately and declare radiotherapy service as an essential commodity so that patients can get some relief from bearing the high cost of the service, it said. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/india-puts-curbs-on-laptop-and-tablet-imports-heres-how-it-could-impact-you/articleshow/102430014.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/india-puts-curbs-on-laptop-and-tablet-imports-heres-how-it-could-impact-you/articleshow/102430014.cms" target="_blank">India puts curbs on laptop and tablet imports – here’s how it could impact you</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms" target="_blank">Indian smartphone market sees a declines in Q2; Vivo in the lead</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-recover-in-july-2023/articleshow/102347978.cms">Electric two-wheeler sales recover after spending June in the pitlane</a>

Parliamentary panel recommends setting up of population-based cancer registries in rural areas

India's economy is expected to grow at 7-7.2 per cent in the current fiscal year driven by robust economic fundamentals and continuity in domestic policy reforms, <keyword id="20006170" type="General" weightage="100" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword> said on Monday. The August update of <keyword id="19896400" type="General" weightage="20" keywordseo="deloitte" source="keywords">Deloitte</keyword>'s India Economic Outlook said several initiatives in the <keyword id="19908389" type="General" weightage="20" keywordseo="union-budget" source="keywords">Union Budget</keyword> 2024-25 toward improving agriculture productivity, creating jobs for the youth, and in manufacturing and addressing the challenge of access to finance for micro, small, and medium enterprises (MSMEs), would help improve supply-side demand, curb inflation, and prop up <keyword id="20139791" type="General" weightage="20" keywordseo="consumer-spending" source="keywords">consumer spending</keyword>, especially in rural areas. Deloitte India Economist Rumki Majumdar said, India will witness robust growth in the second half after a period of uncertainty in the first six months of the year. "Key contributing factors include the continuity in domestic policy reforms, reduced uncertainties in the US post-elections, and more synchronous global growth within a low inflation regime. "Additionally, improved global liquidity conditions, as central banks in the West ease their monetary policy stance, will enhance capital flows and drive higher investments, particularly in the private sector," Majumdar said. Observing that strong economic fundamentals would drive <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> between 7 per cent and 7.2 per cent in FY25, the Economic Outlook report said effectively addressing the urban-rural consumer spending gaps, inflation, and employment concerns can significantly enhance the affordability of aspirational rural consumers. "The much-desirable policy pivot was evident in the Union Budget presented last month. Reducing the urban and rural spending gap in the coming years will ensure sustained consumer demand from a larger consumer base," it added. Deloitte India's growth projection is at par with that of RBI, which projected FY'25 growth at 7.2 per cent. It is higher than Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. The <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> grew at 8.2 per cent in 2023-24 fiscal year. The report further said despite strong growth, private consumption spending has remained modest over the past five years. The pandemic, high global and domestic inflation, consequent tightening of financial conditions, and the effects of poor agriculture output on rural demand seem to have capped private consumption growth in India. But a Deloitte research showed that India is witnessing distinct and broad-based shifts in consumption patterns. There is a broad-based shift in the composition of consumption towards more non-food and discretionary items, reflecting changing lifestyles and preferences that are here to stay. According to the Household Consumption Expenditure Survey, spending on discretionary goods and services (including conveyance) has gone up both in rural and urban India, with the former quickly catching up in spending on discretionary durable goods (including automobiles, electric and electronic goods) with the latter in just one decade. "Demand for processed food has been among the highest in most states, suggesting a shift towards ready-to-eat options. Rapid urbanization, increasing women's participation in the workforce, and enhanced marketing and availability are driving these changing dietary habits," the report said. According to Deloitte research, if increasing income in states results in a relatively equitable distribution and higher rural spending, businesses can tap into a larger proportion of the state's population that resides in rural areas. This gives businesses access to a large consumer base and a sustainable consumer spending demand, as compared to states with a widening gap.

Indian economy likely to grow at 7-7.2 percent in FY25,Deloitte India says

New Delhi, Amid the coronavirus pandemic when the pace of manufacturing and services sector came to a grinding halt, <keyword id="6355165" type="UNKNOWN" weightage="20" keywordseo="agriculture">agriculture</keyword> and allied sectors in India have picked up pace as the country saw the strength of the farm sector. The <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> also took care of a large population of the country related to agriculture and farming and enacted new laws to intensify the winds of improvement in the agricultural sector. The <keyword id="6358021" type="COMPANY" weightage="20" keywordseo="budget">Budget</keyword> 2021-22 is going to be presented in <keyword id="6354721" type="COMPANY" weightage="20" keywordseo="parliament">Parliament</keyword> on Monday, amid wrangling over agricultural reform. In such a situation, it is expected that the Modi government, which claims to give priority to the progress of villages, the poor and <keyword id="45092" type="COMPANY" weightage="20" keywordseo="farmers">farmers</keyword>, will also give priority to agriculture and rural development in the upcoming Budget. According to the Economic Review 2020-21, while the industry and services sectors are projected to fall by 9.6 per cent and 8.8 per cent, respectively, in the current financial year, the growth rate of agriculture and allied sectors can remain at 3.4 per cent. The agriculture and allied sectors recorded a growth rate of 3.4 per cent at constant prices during FY 2020-21 (first advance estimate). The Modi government's priority has been to double the income of farmers by 2022 and to develop basic facilities in villages including 'pucca' houses for all the poor in the country. Therefore, with a view to achieving these goals, the budgetary allocation of major schemes of agriculture and rural development sector can be expected to increase in the upcoming Budget. A senior official of the Union Ministry of Agriculture and Farmers Welfare said that farmers' awareness about all the schemes of agriculture sector including Prime Minister <keyword id="7283018" type="PERSON" weightage="20" keywordseo="kisan-samman-nidhi">Kisan Samman Nidhi</keyword> (PM-KISAN) is continuously increasing and the benefits of these schemes are beginning to be seen at the ground level. The government will also focus on the scheme to provide short-term agricultural loans to farmers at affordable interest rates. Other schemes of the agriculture sector, including the Prime Minister Crop Insurance Scheme, the Prime Minister Agricultural Irrigation Scheme, can also be given importance in this budget. Agricultural economists point out that along with agriculture, the government will give prominence to the plans of the food processing industry, which will help in achieving the goal of doubling the income of farmers. Major schemes for the development of villages proved to be very helpful in providing employment opportunities to the workers migrating from the cities during the corona period. The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA), in addition to providing employment to the daily wage labourers in the villages, proved to be crucial in the development of basic infrastructure in the villages, which was called an opportunity in disaster and under the self-sufficient India package. Experts say that in the upcoming Budget also, other rural development schemes including MNREGA can be increased. The budgetary allocation of MNREGA was ₹61,500 crore in 2020-21, but under the self-sufficient package in the corona era, an additional allocation of ₹40,000 crore was made for the scheme. Farmers have been agitating for more than two months on the borders of Delhi to repeal the new agricultural laws and to demand a legal guarantee for the purchase of crops at the minimum support price (MSP). Agricultural experts point out that MSP is a big issue in the farmers' movement, so some announcement can be expected in the Budget regarding MSP as well. Union Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> will present the General Budget of the upcoming financial year 2021-22 in Parliament on Monday. SEE ALSO: <a href="https://www.businessinsider.in/travel/article/the-many-marvels-of-satpura-biosphere-reserve/articleshow/80598269.cms">The many marvels of Satpura Biosphere Reserve in Madhya Pradesh</a> <a href="https://www.businessinsider.in/budget/news/india-travel-and-tourism-sector-is-hoping-that-the-budget-2021-wont-leave-them-behind/articleshow/80596702.cms">India’s travel and tourism sector is hoping that the Budget won’t leave them behind</a>

Rural poor, farmers' progress to be government's priority :Budget 2021

Narendra Modi, elected leader of the National Democratic Alliance (NDA) will take oath as <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s prime minister for a historic third term on Sunday evening at 7:15 PM. After a decade of full majority governance, Modi will now run a <keyword id="20018803" type="General" weightage="20" keywordseo="coalition-government" source="keywords">coalition government</keyword>, with the Telugu Desam Party and Janata Dal (United) as key partners. Despite being in coalition, experts feel that there won't be much change in the new government's economic agenda. Economists believe that <keyword id="20509939" type="General" weightage="100" keywordseo="Modi-3-0" source="keywords">Modi 3.0</keyword> will not slow down the reforms and to achieve the goal of Vikshit Bharat by 2047, <keyword id="20404815" type="General" weightage="20" keywordseo="economic-reforms" source="keywords">economic reforms</keyword> and policy reviews need to be continued across multiple sectors, including infrastructure, labour, and manufacturing. These reforms are deemed essential to drive economic growth and development in India. "The oft-repeated target of becoming a developed country by 2047 requires far-reaching reforms in the factor market, opening up of the economy and infrastructure development and a thrust towards labour intensive manufacturing. In a coalition environment it may not be easy to carry out big bang reforms, but the thrust of incremental reforms should be in this direction," said M Govind Rao, Member, Fourteenth Finance Commission and former Director, National Institute of Public Finance and Policy. Economists have noted that spending on <keyword id="20229510" type="General" weightage="20" keywordseo="populist-measures" source="keywords">populist measures</keyword> will increase because of coalition politics, however, the government will continue with its focus on "<keyword id="20054650" type="General" weightage="20" keywordseo="Made-In-India" source="keywords">Made In India</keyword>" reforms. Sectors like infrastructure and manufacturing will remain the priority of the government. "There's likely to be a swerve towards greater populist spending and some commitment of resources to states of alliance partners is also likely. But India's public finances are in relatively robust health and to be augmented by significant reserves from the RBI. India's infrastructure spending will continue apace but perhaps with greater private sector participation. Expenditure on defence modernisation and indigenisation will also undoubtedly continue" said Gautam Sen, retired political economist London School of Economics and author, Former member of the Indo-UK Roundtable and Senior Consultant UNDP. The full budget expected to be announced in July, will reflect the economic agenda of Modi 3.0. Many economists expect the Budget will likely see a spurt in welfare and support schemes mainly for farmers and poor. The Budget will indicate the policy priorities for the new coalition government and decide the growth trajectory for the next five years, On the economic front, economists have cautioned the government about the potential setbacks from a sluggish global economy and geopolitical crisis. "One constraint remains the sluggish world economy, which could suffer worse setbacks next year, though Indian growth has risen despite it. The unknown is the impact of external shocks of intensifying wars and uncertainty over energy prices" added Sen. Meanwhile, in a significant boost to the start of Modi 3.0, the Reserve Bank of India on June 7 revised upwards the <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24.

Economists expect big bang reforms to continue under Modi 3.0

<ul class="summary-list"><li>The Indian economy has grown strongly under Narendra Modi, whose party is set to win another term.</li><li>India's success has caught the eye of figures including Elon Musk, Jamie Dimon, and Tim Cook.</li></ul>India's powerful economic growth and blossoming middle class under Narendra Modi have caught the eye of corporate titans like Elon Musk, Jamie Dimon, and Tim Cook.Modi is pretty much a shoo-in for a third term as prime minister after the national election now underway ends on June 1. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil.<h2>Fueling growth and shaking hands</h2>India's economy has more than doubled in size during Modi's decade in charge to more than $3.7 trillion last year.The International Monetary Fund (IMF) <a target="_blank" href="https://www.imf.org/en/Blogs/Articles/2024/04/29/asias-growth-and-inflation-outlook-improves-but-risks-remain">recently upgraded</a> its growth forecast for real Gross Domestic Product (GDP) to a robust 7.8% this year, 6.8% in 2025, and 6.5% in 2026.India has already overtaken Britain to become the world's fifth-largest economy. It's on track to leapfrog Japan and Germany into third spot behind the US and China by 2027.The country's flagship stock index has also tripled in value since Modi took office in May 2014, thanks to wealth gains and growing investment appetites.Moreover, <a target="_blank" href="https://sbi.co.in/documents/13958/36530824/270224-HCES_Feb24.pdf">one estimate</a> puts the percentage of the Indian population living on less than $2.15 a day at below 5%, down from 12% in 2011. However, the <a target="_blank" href="https://pip.worldbank.org/country-profiles/IND">World Bank</a> pegged that figure at nearly 13% in 2021.India's middle class has also ballooned with 60 million people now earning the rupee equivalent of more $10,000 a year — about $37,200 once adjusted for <a target="_blank" href="https://www.imf.org/external/datamapper/profile/IND">purchasing power</a>. Goldman Sachs <a target="_blank" href="https://www.goldmansachs.com/intelligence/pages/indias-affluent-population-is-likely-to-hit-100-million-by-2027.html">expects</a> the ranks of the relatively affluent to swell to 100 million by 2027."Modi has done an unbelievable job in India," JPMorgan's Dimon <a target="_blank" href="https://www.businessinsider.com/jpmorgan-jamie-dimon-economy-inflation-recession-stagflation-geopolitics-crypto-bitcoin-2024-4">told</a> the Economic Club of New York last month. "I know the liberal press here, they beat the hell out of him. He's taken 400 million people out of poverty."Musk has <a target="_blank" href="https://twitter.com/elonmusk/status/1781541775183610310">posted</a> on X that he's looking forward to visiting India and meeting Modi this year. He delayed his trip last month, blaming "very heavy Tesla obligations." The pair are expected to discuss Tesla building a multibillion-dollar factory in the country.As for Apple's Cook, he hailed India on a November earnings call as an "incredibly exciting market" and a "<a target="_blank" href="https://www.businessinsider.com/apple-tim-cook-obsessed-india-consumers-iphone-2023-7">major focus of ours</a>" given the explosive growth in potential customers as locals get richer.<div type="image" title="Sundar Pichai, Tim Cook, Narendra Modi, Joe Biden" height="3907" width="5861" msid="109838230" hostid="261" sizebytes="846512"></div>Modi has also met with Nvidia CEO Jensen Huang, Microsoft boss Satya Nadella, and Alphabet's Sundar Pichai. He's likely to be seeking to attract foreign direct investment (FDI) in India — and to capitalize on bosses' <a target="_blank" href="https://www.businessinsider.com/us-china-relations-reshoring-manufacturing-jobs-made-in-america-2023-10">desire to hedge their bets on China</a> given its strained relationship with the US, economic woes, and how disruptive its strict pandemic lockdowns were to global supply chains."India's population and economic growth numbers are causing a lot of global executives to revisit their India presence and consider scaling up," Richard Rossow, a senior advisor and chair in US-India Policy Studies at the Center for Strategic &amp; International Studies, told Business Insider."Paired with increased concerns about supply chain resilience and security concerns about China, it's a very good time for a hard push to win investments."The United Nations said that India and China both had a population of 1.426 billion in April last year, meaning India is probably now the most populous given its rising birth rate.<h2>Change for the better — mostly</h2>Modi has instigated a raft of major economic reforms since taking office, intended to make India more business-friendly, and boost government revenues by taxing more of the country's vast informal economy.He rolled out a tax on goods and services, simplified bankruptcy laws, lifted FDI restrictions, cut corporate income tax, and ended retrospective taxation.However, not all of Modi's moves spurred growth."Demonetisation was a key economic policy which had negative effects on the economy," Kunal Sen, a director of the United Nations University World Institute for Development Economics, told BI.Sen is the author of several books about India's economy and a professor of development economics at the University of Manchester.He was referring to Modi's sudden declaration in November 2016 that all 500 and 1,000-rupee bills — 86% of Indian currency in circulation — would <a target="_blank" href="https://www.businessinsider.com/india-ending-500-and-1000-rupee-bills-to-fight-corruption-2016-11">no longer be accepted as legal tender</a>.The government's goals were to capture undeclared income, get rid of counterfeit currency, broaden the tax base, and bring more activities into the formal economy."The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. This last economic policy has been revolutionary," Sen said.He was hailing a broader digitization drive under Modi that has <a target="_blank" href="https://www.businessinsider.in/business/news/how-indias-digital-payments-ecosystem-has-evolved-in-the-last-one-year/slidelist/90595832.cms">transformed</a> how Indians bank, invest, pay their taxes, and conduct business.<h2>Prosperity for all</h2>Modi's efforts have helped to usher in a more prosperous era for some Indians, but many have been left behind.Young people are India's beating heart, with about half its population under 25 and almost two-thirds under 35. Matching those hundreds of millions of people with jobs has proven a challenge, with youth unemployment almost tripling from below 6% in 2000 to about 18% in 2019. It still stands at a hefty 10% in 2023, per the <a target="_blank" href="https://webapps.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/---sro-new_delhi/documents/publication/wcms_921154.pdf">International Labor Organization</a>.The report found that nearly 30% of India's graduates were unemployed in 2022, and only about 10% of the working-age population was formally employed.<div type="image" title="A farmer uses oxen to plow fields for lentils in Nimaj, Rajasthan, northern India." height="3464" width="5196" msid="109838232" hostid="261" sizebytes="690700"></div>"Unemployment is a big issue," Rossow said, emphasizing this isn't just a problem with recent graduates but a "much, much larger bubble: the underemployed farm laborers."Rising agricultural productivity is likely to help farm workers make a faster transition to city life in the years ahead, but they'll struggle to secure modern jobs in the services industry "without significant reskilling and education," Rossow said.As a result, lower-skilled manufacturing and assembly jobs and lower-end services jobs will be needed, he added.Another major challenge will be tackling a widening wealth divide. The richest 10% of the population hold more than 72% of the nation's wealth, per an Oxfam report <a target="_blank" href="https://d1ns4ht6ytuzzo.cloudfront.net/oxfamdata/oxfamdatapublic/2023-01/India%20Supplement%202023_digital.pdf?">published</a> last year.Business tycoons Mukesh Ambani and Gautam Adani both rank among the world's 15 richest people, per the <a target="_blank" href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>. Luxury-goods sales are booming with <a target="_blank" href="https://www.carwale.com/news/mercedesbenz-lineups-waiting-period-reduced-in-india/">long waitlists</a> for flashy purchases like the Mercedes "G Wagon."<div type="image" title="The Ambani family onstage with Rihanna." height="854" width="1280" msid="109838233" hostid="261" sizebytes="99148"></div>The <a target="_blank" href="https://www.businessinsider.com/anant-ambani-pre-wedding-festivities-lack-empathy-india-radhika-merchant-2024-3">lavish pre-wedding party</a> thrown by the Ambani family earlier this year was singled out by some as an affront to the huge number of Indians living in poverty.Almost 1.3 billion people live on less than $3,500 a year by one estimate, and India ranks 111th on the <a target="_blank" href="https://www.globalhungerindex.org/ranking.html">Global Hunger Index</a>, below even North Korea.Rising equality is partly explained by a "capital-intensive mode of economic growth along with increasing power of business conglomerates," Sen told BI, referring to how huge companies like the Adani Group secure huge government contracts to build ports, bridges, highways, and other infrastructure.A third challenge is regional inequality, as some states like Bihar and Uttar Pradesh haven't experienced the same growth and modernization of their economies as others, Rossow said.<h2>The Russia riddle</h2>One striking aspect of Modi's economic boom has been its reliance on Russia since it invaded Ukraine in early 2022.India went from getting 2% of its crude oil from Russia before the war, to 35% last year. During that period, the US and Europe slapped sanctions on Russian oil to defund Putin's military machine and punish Moscow for attacking a sovereign nation.Despite that, India purchased an estimated $37 billion of Moscow's oil in 2023 — 13 times the amount it bought annually prior to the conflict. Its buying helped Russia rake in a <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-sales-india-ukraine-war-moscow-western-sanctions-2024-2">record $320 billion</a> of federal revenue last year.Indian demand for Russian oil has <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-oil-trade-crude-india-discount-barrel-sanctions-price-cap-2024-2">cooled</a> in recent months as new sanctions have made it <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-energy-exports-india-imports-revenue-sanctions-discount-2024-3">more expensive</a>, but the buying remains controversial.Officials in India have <a target="_blank" href="https://markets.businessinsider.com/news/commodities/crude-oil-prices-india-russia-trade-geopolitics-opec-supply-puri-2024-2">defended</a> the purchases, saying that if they'd bought Middle Eastern oil instead, global crude prices would have shot up.India is also one of the world's largest oil refiners and has helped Western nations to maintain access to refined petroleum products even as they're refraining from buying Russian crude directly.Yet the country imports 85% of its oil, so its overriding interest is securing the cheapest oil possible to support its development, said Neelima Jain, a senior fellow and chair in US India Policy Studies at CSIS."India will continue to buy Russian oil if the price remains favorable and allows for firm volume guarantees, as the country prioritizes energy affordability and accessibility during its rapid rural-to-urban transition, which has led to a 6% year-on-year growth in energy demand," she told BI."In an inflationary environment, economics [rather] than geopolitics will drive India's energy choices."<div type="image" title="Narendra Modi and Vladimir Putin" height="3196" width="4714" msid="109838234" hostid="261" sizebytes="426292"></div><h2>India the IT hub</h2>Under Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.Big Tech stalwarts like Microsoft have a <a target="_blank" href="https://www.businessinsider.com/microsoft-has-so-many-patents-its-outsourced-the-job-to-india-2013-5">long history</a> of outsourcing to India, but recent efforts to cut red tape and slash corporate taxes appear to have fueled fresh interest.Sweeping layoffs at Alphabet, Amazon, Meta, Salesforce and other US tech titans in the past few years could presage a large exodus of jobs to India.Sanjay Shetty of Randstad India <a target="_blank" href="https://economictimes.indiatimes.com/tech/technology/outsourcing-hubs-like-india-to-bag-40-of-jobs-lost-to-layoffs/articleshow/101088673.cms?">told The Economic Times</a> last summer that he expected 30% to 40% of the tech jobs eliminated globally to move to India by 2025."India is going to be the biggest gainer in the medium to long term, as almost every company that we speak to is looking at expanding its India base," Shetty said.Even if that pans out, it won't be a panacea for a country facing not just unemployment and underemployment, but also stark income inequality, regional disparities, and the risk of alienating Western allies by continuing to buy Russian oil.Yet overall, India appears to be headed in the right direction."The growth is real, if focused on a few key states," Rossow said. "India's dynamic technology services sector is to IT services what China is to manufacturing. So there is much to cheer, even as the reform agenda seems to never end."

Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty 

<ul><li>As per a tweet by Motilal Oswal, <keyword id="6808641" type="UNKNOWN" weightage="20" keywordseo="Bandhan-Bank-stock">Bandhan Bank stock</keyword> will be added to MSCI index effective from October 16.</li><li>Bandhan is a long -term compounder and will be able to consistently deliver over 30% growth, said a research report by Axis Capital.</li><li>The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans.</li></ul> Kolkata-based lender Bandhan Bank which has been servicing rural women with small loans, is now expected to hit the big leagues soon. As per a tweet by Motilal Oswal, the bank’s stock will be added to the MSCI index effective from October 16. Investors celebrated the huge feat by a 5-year old bank and the shares jumped nearly 10%, hitting the upper circuit, after which the exchanges halted trading in the company’s shares. MSCI is Morgan Stanley Capital International index is headquartered in New York. It enters a league of top stocks which will also provide by access to global investors, institutions and funds. As per the brokerage firm, this is an effect of its merger with Ahmedabad-based Gruh Finance which recently received an approval from National Company Law Tribunal. Even before the MSCI entry, Bandhan has been one of the rare banking success stories in India. “It is well placed to deliver industry-leading return ratios with a high-yielding assetbook on one side and robust low-cost deposit franchise on the other. Bandhan is a long term compounder and will be able to consistently deliver over 30% growth,” said a research report by Axis Capital in early September. The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans. Currently, around 90% of the bank’s portfolio consists of small loans only. Gruh Finance, as the name suggests, provides housing loans mostly to rural populace. This loan portfolio will provide diversity to the primarily entrepreneurship-based loans that Bandhan currently provides. The shares of Bandhan hit an upper circuit at ₹608 per share in today’s trade, increasing by over 9% in the morning trade. The stock of Gruh Finance also rose by around 7.9% as of 12 pm. <div type="image" title="Coffee Day Global Ltd. is incorporated, in order to start the cafe business (1) (2)" tempid="101146" msid="71541429" hostid="261"></div>

A five-year-old bank lending to poor women in rural India has made it to MSCI in New York

To ensure that the unemployed rural population of India also fulfils its <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneur&amp;sortorder=effectivedate">entrepreneurial dreams</a>, a new programme is going to be launched soon on the lines of ‘<a href="http://www.businessinsider.in/searchresult.cms?query=startup+india&amp;sortorder=effectivedate">Startup India, Standup India’</a>. 
 
The Deen Dayal Upadhyay Swaniyojan Yojana will be launched soon in which rural poor will be able to explore self-employment opportunities. 
 
The programme, which will be funded by the National Rural Livelihood Mission of the rural development ministry, will have skill sets such as driving, plumbing, <a href="http://www.businessinsider.in/searchresult.cms?query=agriculture&amp;sortorder=effectivedate">agriculture</a>, horticulture, etc. 
 
In case of funding, the Micro Units Development and Refinance Agency, or the <a href="http://www.businessinsider.in/searchresult.cms?query=mudra+bank&amp;sortorder=effectivedate">MUDRA Bank</a> will oversee it. 
 
As per the Socio Economic and Caste Census (SECC) data, one third of India's rural households are landless and depend on manual labour for an income, highlighting the need for <a href="http://www.businessinsider.in/searchresult.cms?query=skill+development&amp;sortorder=effectivedate">skill development</a> in these areas. 
 
(Image: Indiatimes)

Unemployed rural-poor to get desi version of ‘Startup India, Standup India’, fulfil entrepreneurial dreams

<ul class="summary-list"><li><keyword id="12061888" type="UNKNOWN" weightage="60" keywordseo="usain-bolt" source="Orion">Usain Bolt</keyword> told Insider he had damaged teeth during his sprinting career.</li><li>The damage was because of the poor dental quality available in his home country of <keyword id="11909321" type="UNKNOWN" weightage="60" keywordseo="jamaica" source="Orion">Jamaica</keyword>.</li></ul>Usain Bolt's genetics gifted him the generational athleticism to win eight Olympic gold medals, but he's still needed some dental work. Bolt, a native of Trelawney, Jamaica, received poor <a href="https://www.businessinsider.com/14-common-myths-about-teeth-debunked-dentists-2020-10" target="_blank" rel="noopener">dental care</a> early in life, which led to <a href="https://www.insider.com/olympic-polevaulter-bust-his-teeth-during-tokyo-training-session-2021-7" target="_blank" rel="noopener">damaged teeth</a> at the age of 10 and general anxiety about future dental work. "If you watch my career, I had broken teeth through my younger age that I couldn't get fixed because it wasn't easily accessible," Bolt told Insider. In Jamaica, there is less than one dentist for every 100,000 people on average, according to the <a href="https://apps.who.int/gho/data/node.main.HWFGRP_0060?lang=en" target="_blank" rel="noopener">World Health Organization</a>. A study published by the <a href="https://www.caribbeanmedicaljournal.org/2020/12/20/oral-health-related-quality-of-life-in-an-adult-jamaican-population/" target="_blank" rel="noopener">Caribbean Medical Journal</a> found that 70% of Jamaicans had a painful aching in their mouth, 65% found it uncomfortable to eat food due to the state of their dental <keyword id="11894571" type="UNKNOWN" weightage="60" keywordseo="health" source="Orion">health</keyword>, and 49% were <a href="https://www.insider.com/you-can-get-cavities-from-kissing-partner-bad-dental-hygiene-2021-7" target="_blank" rel="noopener">self-conscious about their teeth</a>. Bolt was exposed to the harsh conditions of Jamaican dentistry as a child."It wasn't a good experience as a kid to get your teeth pulled because we did not have all the necessary numbing agents to help," Bolt said of his first trip to <a href="https://www.insider.com/halloween-candy-dentists-worst-best-for-teeth-2021-10" target="_blank" rel="noopener">the dentist</a>. "It was a lot more painful than it should've been as a kid."<h2>Bolt's experience in Jamaica caused him to develop anxiety about <keyword id="12107998" type="UNKNOWN" weightage="60" keywordseo="dental-care" source="Orion">dental care</keyword> later in life</h2>When Bolt established himself as a global star and came into wealth, he decided to get his teeth fixed in Germany in 2015."I went to Germany when I finally decided to fix my teeth properly, and just the equipment and how it was done quickly and done well was just amazing," Bolt said. Still, Bolt said he had anxiety and fear about the experience due to his bad experiences at Jamaican dentists. "Something that I think people are always worried about. Because a lot of people don't go the dentist," Bolt said. "Because they're always slightly worried about what's going to happen."<div type="image" title="Usain Bolt" height="1333" width="1778" msid="87744345" hostid="261"></div>Bolt is not the only professional athlete to suffer from dental anxiety either, and some who suffer from it grew up in the US.A study by <a href="https://www.aaoinfo.org/blog/athletes-are-more-likely-to-have-poor-oral-health/" target="_blank" rel="noopener">The American Association of Orthodontists</a> found that 49% of athletes had untreated tooth decay and early signs of gum inflammation.Dr. Amira Ogunleye, a cosmetic dentist who co-owns her dental firm "Beautiful Smiles" in South Florida, operates on <a href="https://www.beautifulsmilesfl.com/celebritygallery.html" target="_blank" rel="noopener">high-profile athletes,</a> including <keyword id="11910345" type="UNKNOWN" weightage="60" keywordseo="lebron-james" source="Orion">LeBron James</keyword> and <keyword id="12110923" type="UNKNOWN" weightage="60" keywordseo="dwyane-wade" source="Orion">Dwyane Wade</keyword>. She's seen the struggles and fears associated with athletes' dental care up close."You could have a 6-foot-10 guy in your chair, and he is terrified," Ogunleye told Insider. "No matter how 'manly' these men are, once they get in that room, it's like they're no longer the name. They're a patient who has dental anxieties. They're a patient who has concerns."Dental care is less available to Black and Hispanic children in the US, according to the <a href="https://www.cdc.gov/oralhealth/oral_health_disparities/index.htm" target="_blank" rel="noopener">Center for Disease Control</a> (CDC), with 17% of children from low-income households having untreated cavities in their primary teeth, which is three times the percentage of children from higher-income households. "A lot of individuals, especially in the brown and Black communities, have not had regular access to dental care," Ogunleye said. "A lot of them I found had really bad experiences one way or another growing up, so there's just been this fear, and it leads a lot of people to put it off until it becomes really bad."<h2>Bolt is now working to make quality dental care more accessible to underserved communities</h2><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>'s <a href="http://child.nohp.org.in/(S(nqj155nijq21djr3eoxxbisu))/About_us1/NOHP.aspx" target="_blank" rel="noopener">National Oral Health Program </a>reports that 95 percent of all adults have gum disease, and 50 percent of citizens don't use a toothbrush. The program also noted that 70 percent of children under the age of 15 have dental caries (cavities).The Philippines College of Dentistry found that nearly 90 percent of Filipinos suffer from tooth decay, and almost 100 percent of children between 3 and 5 years old have cavities.But Bolt is now working on expanding global access to dental care, starting with his home country by partnering with 3D dental printing technology company <a href="https://sprintray.com/" target="_blank" rel="noopener">SprintRay.</a> Bolt is launching a charitable initiative to provide underserved global populations with high-quality dental care.The initiative is currently slated to include two clinics, a centralized 3D printing lab, and a mobile dental unit, but this may change based on specific needs advised by the Jamaican Dental Association or Health Ministry."I understand the need for this in the rural areas of Jamaica," Bolt said. "Se get a bus and travel around the rural areas to the less fortunate and just the people who can't really travel miles to get there."Bolt's efforts are focused on Jamaica for the moment, but the goal is to make SprintRay's services available to communities in other countries in the future.

You Searched For "rural poor in india" and got 10 results

Poor eyesight in children increased in past 10 years: AIIMS

ANI

Financial literacy poor across urban, rural population in country: RBI survey

IANS

Parliamentary panel recommends setting up of population-based cancer registries in rural areas

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Indian economy likely to grow at 7-7.2 percent in FY25,Deloitte India says

PTI

Rural poor, farmers' progress to be government's priority :Budget 2021

IANS

Economists expect big bang reforms to continue under Modi 3.0

ANI

Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty

Theron Mohamed

A five-year-old bank lending to poor women in rural India has made it to MSCI in New York

Katya Naidu

Unemployed rural-poor to get desi version of ‘Startup India, Standup India’, fulfil entrepreneurial dreams

BI India Bureau

Usain Bolt suffered from broken teeth and dental anxiety during his career due to poor dental care in Jamaica

Jackson Thompson

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