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    THE ECONOMIST

    Rachel Reeves: Britain's first woman finance chief

    Labour had put the economy at the heart of its election manifesto, targeting growth and wealth creation as key priorities in government, while its emphasis on the latter is not normally associated with the party's traditionally leftist policies.

    India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

    India could receive a sovereign rating upgrade in the next 24 months if the central government manages its finances prudently and reduces the fiscal deficit to 4% of GDP. The trigger for the upgrade would be a general government deficit falling below 7% of the GDP, with a significant portion driven by the central government. The central government estimates a fiscal deficit of 5.1% of GDP in the current fiscal, down from 5.63% in 2023-24.

    India's roaring growth may not change the story of its great divide, finds economists' poll

    A nearly 85% majority of development economists and policy experts, 43 out of 51, in a May 15-June 18 Reuters poll, said they were not confident economic inequality would significantly reduce over the next five years, including 21 who said they had no confidence at all.

    Economists bat for capex push, fiscal prudence and more jobs at pre-Budget meet

    Budget 2024: The focus on the quality of spending, sans mindless freebies, and steps to further curb inflationary pressure should continue, some of the economists told finance minister Nirmala Sitharaman at the customary pre-budget consultation, advising against reckless giveaways. Successful tackling of inflation, they said, would be the biggest pro-poor move.

    Job creation is India's top economic challenge, policy experts say

    According to a poll of policy experts by Reuters, tackling India's chronic joblessness will be the biggest challenge for the government over the next five years, despite the country's status as the world's fastest-growing major economy. The economy grew more than 8% last fiscal year, but this growth has not translated into sufficient job creation, particularly for young people. The recent parliamentary elections saw Prime Minister Narendra Modi's BJP losing its majority, partly due to issues such as widening inequality, inflation pressure, and a lack of well-paying jobs.

    Budget must focus on employment generation, boost to manufacturing sector: Economists

    Economists attending the pre-Budget consultation with Finance Minister Nirmala Sitharaman emphasized the need for the upcoming Budget to prioritize employment generation and bolster the manufacturing sector. They highlighted concerns over unemployment and urged the government to focus on job creation. There was consensus that with the economy showing resilience, stimulating consumption demand would not be a major challenge.

    • RBI economists call for higher private investments, warn rising food prices could derail disinflation process

      RBI economists emphasize the need for higher private investments to drive growth amidst a disinflationary stance to manage spillover effects of elevated food prices, potentially delaying rate adjustments even if CPI hits target levels.

      US import prices unexpectedly fall in May

      Import prices dropped 0.4% last month after an unrevised 0.9% surge in April, the Labor Department's Bureau of Labor Statistics said on Friday. That was the first decline in import prices since December. Economists polled by Reuters had expected import prices, which exclude tariffs, to edge up 0.1%.

      Bubble of all bubbles? US economist predicts a 2025 stock market crash, likely worse than 2008 crisis

      Economist Dent warns of a 2025 stock market crash worse than 2008 crisis, attributing it to artificial bubble building post-Covid pandemic. He analyzes global economies, highlights economic devastation, and predicts a crash driven by inflated asset prices.

      Economists expect big-bang reforms to continue under Modi 3.0

      Modi is set to be sworn in for third term as India's Prime Minister in coalition government with key partners Telugu Desam Party and Janata Dal (United). Economists anticipate focus on economic reforms to achieve goal of Vikshit Bharat by 2047. Budget to prioritize infrastructure, manufacturing, and welfare schemes amid global economic challenges.

      Upward GDP projection and no change in interest rates welcomed by industry and economists

      Industry leaders and economists widely accepted RBI's monetary policy stand of no change in interest rates. Besides upward projection of GDP growth for FY25 from 7 per cent to 7.2 per cent is welcomed by the Industry.

      Lok Sabha Results: Will a fractured mandate for NDA impede new govt's infra and capex push?

      The 2024 Lok Sabha elections deliver a fractured mandate, influencing economic reform outlook. Experts recommend focusing on public capex and high-tech sectors for growth. Tanvee Gupta Jain predicts fiscal leeway for populist spending, supported by progress in implementing labor laws.

      Dhruv Rathee factor? How YouTubers ruined Modi-led BJP’s game in Lok Sabha elections 2024

      Dhruv Rathee factor: From viral sensations to influential voices, YouTubers have emerged as a force to be reckoned with in shaping public opinion and influencing political landscapes. With millions of subscribers and a knack for captivating storytelling, these digital creators have transcended traditional media boundaries to become powerful agents of change. In the realm of Indian politics, one such figure stands out: Dhruv Rathee.

      Modi retaining power under changed circumstances to make reforms challenging: Economists

      Economists warn that PM Narendra Modi's retention in power after the general elections under 'changed circumstances' will pose challenges for implementing critical reforms.

      US risks a ‘Forever’ trade war with China, says Economist Stephen Roach

      The US is erecting new trade barriers that will hold back China’s sales of key products like electric vehicles, accusing Beijing of building excess capacity using state subsidies and flooding global markets with cheap products.

      April core sector grows 6.2%, IIP seen 6-6.5%

      India's eight core infrastructure sector, including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, grew 6.2% in April, up from 6% in the previous month. The sector's output slowed to 7.6% in FY24, with coal output up 7.5% and electricity generation rising 9.4%. Fertilizer production contracted 0.8% for the fourth consecutive month.

      Fed's favourite underlying inflation gauge is seen cooling

      Economists expect the personal consumption expenditures price index minus food and energy - due on Friday - to rise 0.2% in April. That would mark the smallest advance so far this year for the measure, which provides a better snapshot of underlying inflation.

      Household income, employment outlook returns to pre-pandemic levels

      The study also reveals that overall spending is primarily driven by essential expenditures, which are mostly price inelastic, while non-essential spending shows less alignment with price levels. The higher income groups displayed more optimism post-pandemic.

      India inflation likely slipped in April: Reuters poll

      India's consumer price inflation is expected to ease to 4.80% in April, driven by persistent food inflation challenges. Economists foresee inflation remaining around 5% or higher in the coming months, with the RBI expected to cut interest rates next quarter.

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