Employment in India rose from 394.6 million in August to 404.2 million in September, and while the numbers are still below pre-Covid levels, the increase is encouraging.
With US Fed hiking rates, RBI might be pushed to increase its own rates to slow simultaneous fall of rupee & India's forex reserves. But this could also hurt economic growth.
Despite rising interest rates, bank credit growth rose to a nine-year-high last month. While credit to MSMEs has shown consistent double-digit growth, it’s large industries that have really helped.
CMIE’s consumer sentiments & RBI’s consumer confidence indices show improvement. If initial signs of inflation easing are sustained, consumer confidence will see marked turnaround.
Bihar has lowest own tax revenue, Punjab high committed expenditures, while Rajasthan has deviated from fiscal deficit target. Such states need to balance vote bank & fiscal prudence.
Central govt's fiscal deficit touched 21% of full-year target in April-June quarter. But going forward, buoyant tax collections could help manage higher than budgeted expenditure.
Countering insurgency needs the Pakistan Army to demonstrate a political will that ties leaders at the centre with those in the borderlands. But it may not have the imagination.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
21st edition of annual joint military exercise will be held from 1 to 16 September, aimed at sharing military tech, operational best practices & disaster relief coordination methods.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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