Representative image Impostor syndrome seems to be more common than actually thought, though at a collective level. People may often feel that the groups they are affiliated with may be underperforming in comparison to other groups. Although this self-critical approach may work in certain cases, it may also overlook the positives, and decrease the morale of those affiliated with the group. Many in India seem to have a collective/national-level impostor syndrome. While the Indian economy is much better placed than its peers in the emerging markets, and other economies, the government is being criticised on the economic front. The criticism comes when the fundamentals of the Indian economy are robust, despite the exogenous shocks caused by the COVID-19 pandemic, supply chain disruptions, monetary policy tightening by the US Federal Reserve, the Ukraine-Russia conflict, and inflated crude oil prices. India's macroeconomic health remains robust despite external pressures, and ongoing … [Read more...] about Bibek Debroy writes: India’s economy is better placed than its peers, other economies around the world
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IMF cuts India’s FY23 growth forecast by 80 bps to 7.4%
The International Monetary Fund (IMF) has cut its gross domestic product (GDP) growth forecast for India for the current financial year by 80 basis points to 7.4 percent. A similar downgrade has been made to the growth forecast for FY24, which now stands at 6.1 percent as against 6.9 percent earlier. "For India, the revision reflects mainly less favourable external conditions and more rapid policy tightening," the IMF said on July 26 in an update to its World Economic Outlook report. Russia's invasion of Ukraine in late February disrupted supplies of crucial commodities, pushing up prices globally. Consequently, key central banks in the developed world, such as the US Federal Reserve, have begun tightening their monetary policies in earnest to cut down multi-decade high inflation . This has exerted further pressure on the Indian rupee, which has hurtled to multiple record lows in recent weeks and last week breached the 80-per-dollar mark for the first time . Close … [Read more...] about IMF cuts India’s FY23 growth forecast by 80 bps to 7.4%
Targeting India’s Smaller Cities Paves The Way To Mobile Commerce Gold
Share to Twitter Share to Linkedin When it comes to mobile-first populations, India leads the list. The country counts more than 1 billion active mobile subscriptions with a massive appetite for mobile apps and interaction. On a single day in December 2021, for example, an astounding 1.06 billion mobile subscribers were active on their phones. Fast forward to 2022, and the State of Mobile 2022 report by Data.ai , a market intelligence and decision-making platform for the mobile app economy, shows app downloads in India hit the highest levels yet. What's more, the report highlights an uplift in the two metrics that matter most to marketers: time and money spent on apps. Indian consumers spent roughly one-third of their waking hours on mobile, using their devices for an average of 4 hours and 42 minutes per day in 2021. Compare that to the average daily television viewership of around 3 hours and 17 minutes per day, and it's clear mobile is where the … [Read more...] about Targeting India’s Smaller Cities Paves The Way To Mobile Commerce Gold
USD vs INR | India’s macroeconomic fundamentals are strong
Representative Image In the August Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said that the Indian Rupee (INR) has fared “much better than several reserve currencies as well as many of its EME and Asian peers”. The Governor also added that the INR has depreciated “more on account of the appreciation of US dollar rather than weakness in macroeconomic fundamentals of the Indian economy”. Of late, there has been a lot of discussion around the INR. Towards the end of July, the rupee touched 80 against a US dollar , leading to discussions that it is a sign of a weakening Indian economy. But, is this the case? First, exchange rate increasing or decreasing against a foreign currency is not a sign of weakness or strength. In fact depreciation of the currency is often cited as a positive development for the domestic economy. If a currency depreciates against a foreign currency, the exports become cheaper with respect to the other country, and imports … [Read more...] about USD vs INR | India’s macroeconomic fundamentals are strong
Car Erupts Into Flames After Driver Smokes Cigarette While Using Hand Sanitizer
A car erupted into flames Thursday after a driver smoked a cigarette while using hand sanitizer, according to the New York Post. The victim suffered minor burns and was taken to the hospital. Officials said the man was smoking a cigarette in his car in a shopping center in Rockville, Maryland. He then used hand sanitizer, which set the car ablaze, according to the report . ICYMI (~530p) vehicle fire at Federal Plaza, 12200blk Rockville Pike, near Trader Joe’s & Silver Diner, @mcfrs PE723, M723, AT723 & FM722 were on scene (news helicopter video) pic.twitter.com/TeAynaGsgp — Pete Piringer (@mcfrsPIO) May 13, 2021 “Using hand sanitizer and smoking a cigarette is a bad combo in unventilated areas like a car,” a Montgomery County Fire and Rescue Service official told ABC 11. Hand sanitizer is highly flammable and contains a high percentage of alcohol , around 60% ethanol or 70% isopropanol. Video taken from a news helicopter shows the car engulfed … [Read more...] about Car Erupts Into Flames After Driver Smokes Cigarette While Using Hand Sanitizer
Government nod for Corbevax as booster for adults vaccinated with Covishield, Covaxin soon
Representative Image REUTERS/Dado Ruvic/Illustration/File Photo The Union health ministry is expected to soon approve Biological E's Corbevax as a precaution dose for people above 18 years who are double vaccinated with either Covishield or Covaxin, official sources said on Tuesday. The approval will be based on the recommendations made by the COVID-19 Working Group of the National Technical Advisory Group on Immunisation (NTAGI) last week, the sources told PTI. If approved by the government, this would be the first time a booster dose of a Covid vaccine different from the one used for primary vaccination would be allowed in the country. "Corbevax will be considered as a precaution dose after completion of 6 months or 26 weeks from the date of administration of the second dose of either Covaxin or Covishield vaccines for those aged above 18 years enabling use of Corbevax as a heterologous COVID-19 vaccine for precaution dose administration in this age group," a source said. … [Read more...] about Government nod for Corbevax as booster for adults vaccinated with Covishield, Covaxin soon
Politician who abused, assaulted Noida woman arrested
Absconding politician Shrikant Tyagi was arrested Tuesday from Meerut, officials said, days after he was seen in a social media video abusing and assaulting a woman for objecting to his alleged illegal constructions at a housing society here. Tyagi was at large since Friday evening, and the Noida Police had announced a reward of Rs 25,000 on his arrest. Additional Director General of Uttar Pradesh Police (law and order) Prashant Kumar said in Lucknow Tyagi has been arrested. On the controversy surrounding security given to Tyagi by the Uttar Pradesh police, Kumar said he had no such protection after February 2020. A senior Noida police officer told PTI, "Tyagi's three associates were also held along with him." Before the arrests, Tyagi's wife was once again detained for questioning Tuesday morning in the case lodged at the Phase 2 police station here, according to officials. Tyagi, who was at large since Friday evening, had Monday moved a court in the Gautam Buddh Nagar … [Read more...] about Politician who abused, assaulted Noida woman arrested
Moneycontrol Pro Panorama | Are US and Indian markets decoupling?
Dear Reader , The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. In a case of how cheer for the economy may not be so for markets, investors in US stocks fretted over excellent jobs data. US businesses added 5,28,000 jobs in July, beating most estimates by an embarrassing margin. US 2-year treasuries rose after the report, as the market priced in a more certain likelihood of another 75-basis point rate hike by the US Fed. But the S&P 500 slipped, as investors pondered over what too strong an economy could mean for interest rates. Those fears did not carry over to India, however, with the stock market rising by a strong 0.8 percent at 1.15pm. The RBI’s 50 basis point hike in the repo rate last week and its determination to stay in ‘withdrawal of accommodation’ mode is … [Read more...] about Moneycontrol Pro Panorama | Are US and Indian markets decoupling?
MC Explains: How Chinese military drills around Taiwan will disrupt global shipping
Representative Image. (PC-AFP) The Chinese military, for the last week, has carried out military exercises involving missile strikes, warplanes, and ship movements crossing the midline of the Taiwan Strait. As a response, Taiwan's military also began a live-fire artillery drill simulating a defense of the island against an attack after days of massive Chinese military exercises. All the while, international cargo traffic in the Strait of Taiwan has been hit and ships are looking at alternate routes. "The number of shipping vessels operating in the Taiwan Strait has dropped from around 250 a day to just 15-20 ships a day, after the Chinese military blocked six zones in the Strait," a trader based out of Singapore told Moneycontrol. He added that many shipping lines were even cutting short scheduled loadings for importers across Asia. Close The Chinese government has been firing missiles across the Taiwan Strait in protest of a visit by US House … [Read more...] about MC Explains: How Chinese military drills around Taiwan will disrupt global shipping
Women will be inducted in Maha Cabinet in next expansion: Devendra Fadnavis
Maharashtra Deputy CM Devendra Fadnavis (File image) Facing flak over non-representation of women in Maharashtra's expanded Cabinet, Deputy Chief Minister Devendra Fadnavis on Tuesday said female legislators will be surely inducted in the ministry in the next round of expansion. Forty-one days after taking oath, Chief Minister Eknath Shinde earlier in the day expanded his cabinet by inducting 18 new members – nine each of the rebel Shiv Sena group and the BJP – but no woman legislator found a place in his team, inviting criticism from opposition parties and activists. With the expansion, the strength of the Shinde ministry has gone up to 20.Responding to the criticism, Fadnavis said in Mumbai, There will be women in the next cabinet expansion for sure. Earlier, people were critical of us for delay in the cabinet expansion, but now they have come up with something new. When Chief Minister Uddhav Thackeray-led government had taken oath (in November 2019), there was not a … [Read more...] about Women will be inducted in Maha Cabinet in next expansion: Devendra Fadnavis