Around the Globe

Around the Globe

Government gets scope for fiscal expansion

In spite of all the glaring inconsistencies in the advance estimates of economic growth for FY17 released by the Central Statistical Organisation (CSO), the numbers could still be a blessing in disguise as it could provide additional fiscal expansion scope to the government. The CSO has pegged the nominal GDP growth for 2016-17 at 11.9 per cent, higher than the 11 per cent assumed in the Union Budget.

Govt should control sugar market

The Modi government’s policy has been always on fire fighting mode. It is also anti-farmer. When the Rangarajan committee submitted its report, the northern states did not consent to its suggestions. It talked about de-regulation and also suggested that there should be a consistency in export-import policy, otherwise India will lose credibility in the global market. Now they are tweaking that, which is very unfortunate.

Bookworms turning to audiobooks

Curling up with a paperback may be a forgotten luxury for many thanks to today’s busy lifestyles, but listening to a book on the go, while shopping or jogging, is fast becoming the new norm.
Gone are the cumbersome cassette sets that could cost three times as much as an old-fashioned book and often featured only excerpts to cut down on costs.
Now, audiobooks are just a click away and can be uploaded onto a smartphone for the same, if not lower, price as the print edition.

Hydrogen technology in focus to cut emissions

The heads of some of the world’s biggest oil firms and automakers agreed on Tuesday to push for broader global use and bigger investments in using hydrogen to help reduce emissions and arrest global warming.
The oil firms’ and car makers’ chiefs said the plan was part of global efforts to keep global warming well below 2 degrees Celsius, an ambitious goal agreed by 195 countries in Paris in 2015.

Bangalore world’s most dynamic city

Six Indian cities have made it to the world’s 30 most dynamic places that have the ability to embrace technological change, absorb rapid population growth and strengthen global connectivity, with Bangalore topping the chart.
Cities in India, China and Vietnam, along with several in the US, head the list of world’s fastest changing cities in JLL’s fourth annual City Momentum index. Other Indian cities in the list are Hyderabad at 5th position, Pune (13th), Chennai (18th), Delhi (23rd) and Mumbai (25th).
Asia Pacific cities comprise half the top 30 fastest-changing cities.

Govt to sell 25% in 4 general insurance firms and GIC Re

The government on Wednesday approved the listing of four public sector non-life insurance companies and state-owned reinsurer (GIC Re) to help bring in more transparency and equity in these companies and improve corporate governance. “It could be either by fresh equity or offer for sale. Both options are available. We can expand the shareholding so that the government share comes down to 75 per cent,” finance minister Arun Jaitley told reporters after the Cabinet meeting.

Sugar mills warned against speculation in futures trade

The government is believed to have asked sugar manufacturers against speculation in the futures, as it disfavours a further price spiral from the current level in view of the impending assembly polls in five states, including Uttar Pradesh and Punjab.
“We are ready with all measures that are needed to control prices. Once the production of sugar this year is re-assessed, the measures will be rolled out,” an official said.

Urjit finds unlikely saviour in Manmohan at grilling

RBI governor Urjit Patel, caught in a maelstrom since demonetisation was rolled out, found an unlikely saviour in ex-RBI governor Manmohan Singh on Wednesday.
It took place while the parliamentary standing committee on finance was subjecting Urjit to a Spanish inquisition.

Respect India's territorial sovereignty: India to China

In the midst of growing unease in their ties, India today asked China to respect its territorial sovereignty and said its ascent should not be seen as a threat to China's rise.

Foreign Secretary S Jaishankar also criticised Pakistan for "blocking" SAARC, saying the regional grouping has become "ineffective" due to insecurity of one member nation.

BSNL to launch 1000 wifi hotspots to address 4G challenges

Public-sector BSNL is all set to set launch 1000 high-speed wifi hotspots across the state to address the challenges posed by its absence in the 4G data services.

Kerala Circle CGM of BSNL, R Mani told reporters here that the proposed hotspots would provide 4.5G speed and it would be commissioned within a months' time.

Huge cost to buy the 4G spectrum was the hindrance for the state-run service provider to plunge into 4G service but it is expected to happen by this March, he noted.