Black money is difficult to deal with.
Black money is difficult to deal with.
As many as 45.5 million people were unemployed in September in the OECD region, a grouping of mostly developed nations.
The observations are based on the grouping's latest composite leading indicators released on Monday, that provide early signals of turning points with regard to economic expansion and slowdown.
According to the Organisation for Economic Cooperation and Development's latest Economic Outlook, India's growth rate is likely to slow to 7.1 per cent in 2012 from 7.3 per cent in 2011, but would inch up to 7.7 per cent in 2013.
Supporting the Finance Ministry's view that tax exemptions to the developers and units in SEZs are a drain on economy, the Organisation of Economic Cooperation and Development has asked the government to review tax exemptions in these areas.
The OECD, in March, projected 4.3 per cent economic expansion for India in 2009. The report further said the extent of the deterioration in the fiscal position prior to the slowdown has reduced the scope for 'discretionary fiscal policy action'.
Subdued demand from developed countries and blocs like the US and EU is impacting exports of key sectors including engineering, gems and jewellery and may have implications on India's exports in case the global situation does not improve in coming months. Global inflation, Russia-Ukraine war, simmering China-Taiwan crisis and supply disruptions are hurting economic growth worldwide, leading to poor demand, experts say. The world merchandise trade volume is expected to grow 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, according to the World Trade Organization forecast, released in April.
The report was jointly prepared by the Paris-based Organisation for Economic Cooperation and Development and the World Trade Organisation.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
Under pressure from India and other countries for sharing account details of suspected tax offenders, Swiss banks have said any information exchange would be according to the conditions set out by the Organisation for Economic Cooperation and Development (OECD), the grouping of mostly developed nations.
This activity will allow us to identify those jurisdictions where either the legal framework is not good enough or practices are not good enough and, therefore, information is not flowing.
The global agricultural production growth is expected to be low at 1.7 per cent annually during 2011-20 as compared to 2.6 per cent in the previous decade, due to lower growth in oilseeds and cereals, an agri survey said.
Dismissing fears of a slowdown, Finance Minister Pranab Mukherjee on Monday said India's growth drivers are intact and the Centre is committed to policy reforms.
Cautioning that risks remain in the 16-nation euro area, Paris-based OECD has called for more financial reforms in many member countries to ensure sustainable growth.
However, the economy expanded by 7.9 per cent in the second quarter from 6.1 per cent in the previous quarter, giving hopes of durable economic rebound.
More than 44 million people were without a job in March in the OECD region - a grouping of countries which account for over 60 per cent of global output.
It says that growth outlook for most countries is improving lead by US and UK.
The political mood seems to have changed in most Organisation for Economic Cooperation and Development capitals, and it would be very difficult for any government to justify new stimulus measures in today's environment. Public pressure to reduce government budget deficits and minimise public debt burdens is growing across the developed world.
The unemployment rate in the OECD region a grouping of 27 developed and developing nations stood at 8.8 per cent in November 2009, amid the global labour market slowly witnessing signs of stabilisation.
The global economy is projected to expand by 4.2 per cent this year, but rising oil and commodity prices and European debt crisis could hurt the overall recovery, according to Paris-based think-tank OECD.
The declaration said the SCO leaders reaffirmed their commitment to peaceful settlement of disagreements and disputes between countries through dialogue and consultations.
Lou also spoke about China's tensions with neighbouring countries without directly mentioning the eastern Ladakh border standoff with India since May 2020 which resulted in the Galwan Valley clash in June of that year.
Get more people working, get more people working in modern manufacturing and services in our cities, and get people working better and longer, suggests Naushad Forbes, past president, CII.
The biggest challenge for workers across the world is to find a perfect balance between work and life.
The Organisation for Economic Cooperation and Development has projected the Indian economy to expand 8.5 per cent in 2011-12, much lower than the growth of 9.6 per cent witnessed in 2010-11 financial year.
According to Organisation for Economic Cooperation and Development's report on gender and employment, there is a worldwide increase in women's participation in the labour force but considerable gaps remain in working hours, conditions of employment and earnings.
Brazil, Russia, India and China, also known as the BRIC group of countries, are expected to overtake the rich countries in primary energy consumption by 2030 and worsen their environmental calamities, Paris-based Organisation for Economic Cooperation and Development has warned. The OECD estimates suggest that 63 per cent population in the BRIC countries is living under medium to severe water stress and this share is expected to increase to 80 per cent by 2030.
Heavy lobbying, lurid language and poor analysis are inhibiting government planning for cyber protection, according to the new report on Systemic Cyber Security published by the Organisation for Economic Cooperation and Development.
It feels worsening economic downturn will dent the internet economy. The only silver lining for the IT sector, which generates about $50 billion for Indian IT services companies, is the likely growth in the services and software sectors 'along with new internet and communications-related products and infrastructure, as they are an essential part of spending and partly recession-proof,' the OECD report said.
The Air Chief Marshal also said that India's rise in the Global South marks a "pivotal point" in international affairs.
National Security Advisor Ajit Doval on Wednesday said that the Shanghai Cooperation Organisation members should respect the sovereignty and territorial integrity and seek no unilateral military superiority in adjacent areas.
The unemployment rate in the OECD region, comprising mostly developed nations, slipped to 8.6 per cent in May, while the count of jobless people in the area stood at 45.9 million during the same month.
Chief Economic Adviser V Anantha Nageswaran on Thursday said cryptocurrencies are akin to 'a world of Caribbean pirates' in the absence of a centralised regulatory authority and are yet to pass the test of a fiat currency. He said that the government is pursuing a 'high-wire balancing act' to ensure that the gains in growth, inflation, and rupee stability of the last four years are not frittered away. He said the recent development in Terra-Luna cryptocurrency, which witnessed a massive meltdown last month, is a 'very important cautionary tale'.
"On space, we will be able to announce that India is signing the Artemis Accords, which advance a common vision for space exploration for the benefit of all humankind," a senior administration official said hours before the meeting between Prime Minister Narendra Modi and President Joe Biden in the Oval Office.
Trade ministers of key WTO member countries, including India would meet on the sidelines of the Organisation for Economic Cooperation and Development meeting in Paris in the last week of May.
The initiative for the consultations among the select ministers was taken by Australian Trade Minister Simon Crean.
India has signed a pact with the British Virgin Islands to check tax evasion and money laundering.
