As the world awaits the end of the global pandemic, rural Bengal might be witnessing a recession unfolding in bits and pieces. With factories and tea gardens closing down, agricultural income falling and storm Aila ravaging a large part of deltaic West Bengal in 2010, migration gradually became a norm.
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
Stating that the economic costs of shutdown of the global economy are accumulating rapidly, Moody's projected that all G-20 advanced economies would contract by 5.8 per cent in 2020.
'Seen in the context of world turmoil in face of the pandemic and the Chinese 'miracle' of being the only country in the world to control it, this is not merely a 'Sputnik' moment, but a 'Sputnik Plus' moment,' argues Colonel Anil A Athale (retd).
All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank.
The survey confirmed that companies were shifting their focus away from cost control and returning to growth.
Olympics organisers must replan the Games without running up huge additional costs. IOC President Thomas Bach said his organisation faces several hundred million dollars in supplementary costs.
The gradual recovery of the markets from the recent global recession promises more opportunities for aspiring pilots in the aviation industry, a top official of US-based Delta Flight School said in Chennai on Friday.
Nearly six months after he nominated Dr Islam A 'Isi' Siddiqui to be the chief agricultural negotiator at the office of the US Trade Representative, US President Barack Obama -- fed up with what the White House called 'obstructionist' policies by Senate Republicans in not confirming Siddiqui and several others -- appointed Siddiqui and 14 others as soon as the Senate adjourned for the Easter vacation-recess.
Ex-Infosys CFO V Balakrishnan said the IT companies 'have to get employees who understand new technologies, they have to get rid of some of the employees, who are more on the legacy, and try to attract talent which is more digital'.
Every option before the finance minister comes with a price tag, observes T N Ninan.
Senior international Olympics official John Coates said on Saturday the delayed Tokyo Olympics could end up being the greatest Games ever, coming next year as the world emerges from COVID-19 crisis. Coates, Australia's Olympic chief and head of the International Olympic Committee's inspectorate for the Games, cited the examples of positive Summer Games that followed the two world wars of the 20th century. The Tokyo Games were postponed for a year to 2021 in the aftermath of the new coronavirus outbreak.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
Of those employers granting base pay increases, the average increase is expected to be 2.7 per cent in 2010, down from an actual 3.2 per cent in 2009.
Investors and manufacturers have long advocated the GST.
It is important for working professionals to not get attached to a designation or title or brand or a company name, asserts Aditya Malik, MD & CEO, Talentedge.
In what could have repercussions for the country's exports, the finance ministry has sounded a word of caution on world trade recovery, even as global recession appears to be on its way out.
The US India Business Council said India's 2010-11 Budget defined important steps aimed at fuelling growth and signaled that the global recession of 2008-2009 is already a remnant of the past for it.
The recession taught Indians value of money. So how to manage/use the salary hikes in an effective way so that it brings a fruitful return? Is it the time to splurge or go slow? Or is it prudent to continue with the austerity measures that one discovered during the lean time?
As per a survey by online job portal careerbuilder.com the challenges that the employees have come through in tiding over the economic recession last year have taken a toll on workplace morale.
In Q1, India's GDP shrank by a staggering 24 per cent year-on-year amid the imposition of one of the most stringent global nationwide lockdowns.
It also mentioned some Ayurvedic practices which can help recess the symptoms of respiratory tract in possible coronavirus infected cases.
Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by the fast-spreading virus.
India and the US are among the countries excluded from the list of nearly 60 low-risk countries.
Things are beginning to look better for the hospitality industry across the country, with an increase in occupancy levels to 10-30 per cent and hotel rates getting closer to the pre-recession ones.
Indra Nooyi and Shantanu Narayen have been named among America's '25 Top Gun CEOs' for their outstanding role in turning around the fortunes of their companies during a recession.
There are multiple reasons for a desperate Beijing to teach India the final lesson, thereby ensuring Chinese supremacy in Asia in this century.
Careers360 takes stock of training institutes that aim to make job-seekers more 'employable'
Voicing concern over the global recession, G-20 Finance Ministers have asked their central banks to adopt aggressive and unconventional monetary policies to ensure price stability and restore growth.
Prime Minister Narendra Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with Finance Minister Nirmala Sitharaman as the pandemic hit sectors from small industries to the aviation sector hard with millions of jobs at stake.
But at the same time before leaving for Presidential Day recess, the Senate has not cleared the names of at least a dozen Obama nominees. Obama warned that if the Senate does not approve/confirm his nominees, who are critical to run his administration, he reserves the right to use his recess appointment authority in the future.
In an address during the virtual meeting of the American Association of Physicians of Indian Origin (AAPI) on Saturday, Modi said COVID-19 had been used as an opportunity to work towards making the country self-reliant.
Under the Vivad se Vishwas scheme, the MNCs will have to bring in disputed amount to India, else, the entire money will be considered as loan from subsidiaries on which interest will have to be paid.
On the hike in fuel prices, she accused the government of profiteering and said it is turning a disaster into an opportunity to fill its coffers. She also alleged that the government is breaking the back of the poor, the farmers, and the middle class due to its 'insensitivity'.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
2009 was an eventful year and as we look back there were many landmark personal finance news and developments that will accompany us into the New Year. It is important to understand their impact and learn so that we become better at managing our finances and investments.
Many have questioned the wisdom of Bernanke's efforts to bail out the financial system as it teetered last year, and his decision to flood markets with newly printed money this year.
China, besides denying the United States allegations that COVID-19 has emerged from a bio-lab in Wuhan, also rejected that it emanated from a wet market in the central Chinese city from bats or pangolins before infecting humans.
The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
In the US, recession started in December 2007, and will last at least until December 2009 - the longest and deepest US recession since World War II, with the cumulative fall in GDP possibly exceeding 5 per cent. The recession in other advanced economies (the euro zone, United Kingdom, European Union, Canada, Japan, Australia, and New Zealand) started in the second quarter of 2008, before the financial turmoil in September and October further aggravated the credit crunch.
