On 6 February, 2023 Southern Turkey and the adjoining areas in Syria were hit by a 7.8 magnitude earthquake followed by several aftershocks. The tremors have flattened buildings and destroyed roads and other infrastructure. At least 35,000 casualties (UPDATE) have occurred across Turkey and Syria, with the vast majority being in the former nation. A news report cited the Turkish environment minister saying that 24,921 buildings across the region had collapsed. What...
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Stress in villages, but growth in cities, says Hindustan Unilever CEO - Sagar Malviya
Economic Times Unilever global chief executive Alan Jope said high inflation impacted demand from low income consumers in Indian villages even as growth remains stronger in cities. "The market growth in India remains stronger in urban areas than in rural areas and that reflects the high impact of high food inflation on low income consumers. We are seeing rural markets broadly flat in value terms with lower volumes," Jope said during its...
More »The number of Micro, Small, Medium enterprises that closed in 2022-23 was 6000% greater than two years ago - Parliamentary Question
Rajya Sabha 10,655 micro, small and medium enterprises (MSMEs) closed in 2022-23. That is a 6,088% increase over the number in 2021-22, with 175 closures. The data was revealed by the Ministry of Micro, Small and Medium Enterprises, Government of India as part of the response to a Parliamentary Question asked in the Rajya Sabha. The data was compiled from the Udyam registration portal, the Ministry's online portal for registrations and...
More »Economic Survey 2022-23 Highlights inflation risks and Rupee depreciation pressure on Indian Economy
The Economic Survey 2022-23, released today, has flagged threats to the Indian economy, even as it forecasts a GDP growth rate of 6.5% for the next fiscal year. The survey has said that the challenge of the Indian rupee depreciating remains. "However, the challenge of the depreciating rupee, although better performing than most other currencies, persists with the likelihood of further increases in policy rates by the US Fed". What...
More »Budget Briefs: Samagra Shiksha got 25% more, but only 51% of allocation utilized - Mridusmita Bordoloi, Avani Kapur, Sidharth Santhosh
Accountability Initiative, Centre for Policy Research At the start of the Financial Year (FY) 2022-23, GoI allocated the highest budget for Samagra Shiksha since its inception at Rs. 37,383 crore Budget Estimates (BEs). This was 25 percent higher than the Revised Estimates (REs) for FY 2021-22. An additional Rs. 447 crore was sought through the supplementary budget in December 2022, bringing the revised allocations to Rs. 37,831 crore. The pace of GoI...
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