-The Times of India   Terming the government's attempt to allow foreign direct investment in multi-brand retail as a miscalculation that lacked political consensus, BJP leader Yashwant Sinha has warned that a looming slowdown needs urgent measures to remove supply side blockages. The former finance minister, who heads Parliament's standing committee on finance, said unlike in 2008, the government has no room to increase the fiscal deficit that is already above 5% while...

-PTI   The United Nations has warned that the world is on the brink of another recession, projecting that global Economic growth will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down.  The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6 per cent from 4 per cent in...

The Congress today appears besieged and beleaguered with key allies and even members from its own ranks lining up behind the combined Opposition in vehemently opposing the Manmohan Singh government’s decision to allow FDI in multi-brand retail. But, paradoxically, this state of siege — reflected by the prolonged deadlock in Parliament with a quasi no-confidence motion hanging over it — also gives the Grand Old Party a great opportunity not just...

-PTI   The retail and manufacturing sectors have emerged as the largest job providers in Bihar, together employing more than 14 lakh people.  According to a recent report containing a summary of the Fifth Economic Census, 2005, around 9.77 lakh people are employed in the retail sector, while more than 4.58 lakh people work in the manufacturing sector in Bihar.  The two sectors account for 65 per cent of total employment generated by all...

Foreign retailers may have to reserve at least half of their jobs in superstores for rural youth and source more than the mandated 30% from micro and small industries as the government tries to salvage the big ticket but controversial economic reform.  An official said the government is likely to have a relook at a proposal that seeks to reserve at least 50% of jobs in foreign-owned superstores for those who...