STATE SPENDING
NATO is spending more on defence, but it's likely not enough
NATO allies increase defence spending to meet targets due to concerns over Russian aggression and the potential return of Donald Trump. Some countries exceed expectations while others lag behind. The focus is on ensuring readiness for potential threats.
Budget 2024 may see Modi govt hiking rural housing subsidy by 50% following Lok Sabha disappointment
India plans a substantial increase in rural housing subsidies in the upcoming federal budget, potentially exceeding $6.5 billion, up by 50% from the previous year. This initiative aims to address rural economic distress and boost infrastructure spending including village roads and job programs, amid challenges in the agriculture sector and recent electoral setbacks for Prime Minister Narendra Modi's party.
Capitalism hasn’t failed — we’ve actually greatly benefited from freer market
Schumpeterians believe that government attempts to help, help and help again are the root cause of all that has gone wrong. They link this to declining GDP growth, angst among workers that 'decent jobs' are disappearing, rising inequalities, a soaring number of billionaires, rising inflation, crazy stock market valuations, Trumpist populism, protectionism and soaring fiscal deficits.
India's weekly vegetable spending up in the past few weeks, says survey
Rising vegetable prices due to various factors like the heatwave and monsoon challenges have led to increased consumer spending. Authorities are urged to step in to address the situation and stabilize prices for households across the country.
Digital media growth to take Indian ad market size to Rs 1.2 lk cr in 2024
The Indian advertising market is predicted to grow 11.8% in 2024, reaching ₹1,22,155 crore, primarily driven by digital media. Traditional media ad revenue is expected to grow 8.4% to ₹64,398 crore, while digital media is expected to grow faster at almost 16% to reach ₹57,757 crore. India's traditional media market share is twice that of global and APAC size. However, digital's share of total ad spends could reach 50% by 2026.
FMCG spends up 18% in two years due to inflation- Kantar
Consumers have increased their spending on daily essentials, groceries, and household products by 18% in the first quarter of 2024 compared to two years ago, according to a recent Kantar report. Despite a recent softening in commodity prices, the prices for these goods remain nearly a fifth higher.
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Budget 2024: Five steps of India's Budget formation explained
Budget 2024: The Union Budget, crafted annually by the Department of Economic Affairs within the Ministry of Finance, functions as a comprehensive financial blueprint for the nation. It details projected revenues and expenditures for the forthcoming fiscal year. The preparation process for Budget 2024 commenced six months ahead of its presentation, initiating with the dissemination of Budget Circulars to pertinent ministries and departments.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Domestic markets continued to reach new record highs, building on gains made since the election results. "The market is also benefiting from positive trends in global markets, particularly in the US as it progresses steadily towards the presidential election in November. Volatility has decreased this month, supporting a short-term upward trend," explained Siddhartha Khemka, Head of Retail Research at Motilal Oswal.
A record number of NATO allies are hitting their defence spending target during war in Ukraine
Over 20 NATO member nations are meeting the alliance's defense spending target, amidst concerns over Russia's war in Ukraine. NATO Secretary-General Jens Stoltenberg commended European efforts for collective security, ahead of a pivotal summit in Washington.
Watchdog: Nuclear-armed nations are deepening reliance on nuclear weapons
In 2023, the world's nine nuclear-armed states continued modernizing their arsenals, deepening reliance on nuclear deterrence, per the Stockholm International Peace Research Institute (SIPRI). Amid rising geopolitical tensions, nuclear spending surged by $10.7 billion, totaling $91.4 billion. The US and Russia, holding nearly 90% of global warheads, remain central to these developments.
Father’s Day 2024: Popular gifts, average spending and origins
Data from the National Retail Federation reveals that Americans are expected to spend approximately $22.4 billion on this Father’s Day. This is the second highest spending recorded on Father’s Day. Though, Americans have spent more purchasing gifts on Mother's Day in 2024 than the expected spending on Father's Day. This is higher than the spending recorded in the pre-pandemic years.
Despite IMF scrutiny, Pakistan boosts defence spend by 16%
Pakistan has increased its defence budget by 16.4%, despite seeking a bailout deal from the IMF to prevent economic collapse. The latest allocation of $7.37 billion for fiscal year 2024-25 is a 16.4% increase from the previous year's $6.33 billion. Pakistan's armed forces heavily rely on imports, with China emerging as its biggest partner. The country is the world's fifth-largest arms importer, with 82% of its arms imports coming from China in 2019-2023.
India’s tech spending to grow highest in APAC in 2024: Forrester
Technology spending in India is projected to grow by 10.8% to reach approximately $54.5 billion in 2024, the highest in Asia Pacific regions, as per a Forrester report. The spending in AI-augmented software and services will lead the growth in IT categories.
Milind Karmarkar on two sectors that may outperform in Modi 3.0
Power utilities have already done well and possibly they will continue to do well because there is growth in that sector. So, many of these companies are putting in new power plants and things like that. So, there is definitely growth in that sector.
Chakri Lokapriya's top midcap stock picks for near term
I think defence, semiconductor, industrial, infra are easy reforms for the current government in the current shape to continue because even the allies, for instance, Naidu is a very reform-oriented person.
Better ForeCaste: Gap in consumption shrinks; spending by SC, ST, OBCs rose 1% faster each yr
Consumption spending in marginalized groups like Scheduled Castes, Scheduled Tribes, and Other Backward Classes has seen a faster annual growth rate of 9.2% between 2011-12 and 2022-23, indicating a decline in consumption inequity between upper and lower castes in India. The monthly per capita consumption of these groups nearly tripled in rural areas.
Pakistan to unveil Rs 18 trillion budget on June 12: Minister
The Pakistan government is likely to present the budget with the outlay of around Rs 18 trillion for the financial year 2024-25 on June 12, a minister said on Wednesday. The government will table the budget in the National Assembly after approval from the Cabinet, The Express Tribune newspaper reported, quoting the Minister of State for Finance Ali Pervaiz Malik.
BJP-led NDA's narrow majority shifts focus to rural spending and increased private investments
The recent election results in India saw the ruling BJP-led NDA secure a majority, though narrower than expected. A Bernstein report predicts increased focus on direct social schemes, especially in rural areas. Private sector investments are expected to drive the capex cycle, with implications for economic growth and market dynamics. Market volatility is anticipated due to policy uncertainty, while financials remain a key sector.
Electoral shock dashes hopes of rate cut
Food inflation challenges RBI, impacting rate cuts. Elections, populist spending, and fiscal landscape influence rate cut decisions.
Gen Z to help India's travel spending expand 9% a year: McKinsey Report
A new McKinsey report predicts India's travel spending to grow at 9% annually driven by strong GDP growth. Domestic air passenger traffic is set to double by 2030, boosting the domestic travel market to potentially become the world's fourth largest.
Spotify raises U.S. prices of its premium plans in margin push
On a monthly basis, Spotify has raised prices of its individual plan to $11.99 from $10.99, duo plan to $16.99 from $14.99 and its family plan to $19.99 from $16.99 in the U.S.
Setting up shop for turbo policy
India's economic growth of 8.2% in 2023-24 surpasses historical hurdles, reflecting policy continuity's impact on performance.
Leave gaming to the real mai-baap
Gaming is a significant industry in India, with around 57 million active gamers, the second-largest globally after China. Children, youngsters, and women form a significant part of this user base, enabled by increased broadband penetration, smartphone adoption, and local content creation. However, the government is considering imposing time and spending limits on gamers to address gaming addiction, sparking concerns about state overreach. Instead, the focus should be on raising awareness about screen time and letting parents make informed choices, rather than intrusive regulations.
RBI's ₹2 lakh-crore boost may help India's new govt have an easy-peasy run to achieve a goal
The RBI on May 22 announced a record-high dividend transfer to the government equivalent to 0.6 per cent of GDP ( Rs 2.1 lakh) from its operations in FY24. The figure has surpassed the 0.3 per cent of GDP expected in the FY25 budget from February. Hence, the rating agency said that it will aid the authorities in meeting near-term deficit reduction goals.
RBI's record dividend presents a delicious dilemma for new Indian government
As India prepares for a new government by June 4, a significant Rs 2.11 lakh crore windfall awaits allocation. Options range from faster deficit reduction to increased spending. Analysts anticipate positive investor sentiment, though preferences vary between deficit reduction and expenditure. The BJP-led government's cautious approach contrasts with opposition promises
UK defence minister says China sending 'lethal aid' to Russia for Ukraine war
Britain's Defence Minister Grant Shapps revealed evidence of China sending "lethal aid" to Russia for use in its war against Ukraine, during a London conference. He urged NATO to increase defense spending and strengthen alliances to protect democratic freedoms. Despite China's denial of aiding Russia's war effort, it has significantly boosted trade with Russia, reaching $240 billion in 2023. Meanwhile, US National Security Adviser Jake Sullivan expressed concerns about China's support to Russia's defense industry but noted no direct provision of weapons has been observed.
US retail sales misses expectations in April
Retail sales in the United States were flat in April, signaling a slowdown in consumer spending. Overall sales held steady at $705.2 billion, with a 3.0% increase from a year ago.
India fourth-largest military spender, overall global spending accelerates: SIPRI report
In 2023, India ranked as the world's fourth-largest military spender, with a total expenditure of $83.6 billion, marking a 4.2% increase from the previous year. This data comes from a report by the Stockholm International Peace Research Institute (SIPRI), which also revealed a global rise in military spending, reaching $2,443 billion, a 7% increase from 2022. The top 10 spenders, including the United States, China, and Russia, all boosted their military expenditures.
Exceeding target: Oil PSUs made a capex of ₹1.28 lakh cr in FY24
State-run oil companies exceeded capex targets, with IndianOil leading in spending. ONGC focused on drilling more wells for energy prospects. HPCL invested in a refinery project, while GAIL and Oil India also increased spending.
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