Around the Globe

Around the Globe

Trump in visa shop to truncate Indian IT industry earning

US president Donald Trump appears hell bent on having his way, never mind the industry or his opponents. After passing executive orders restricting entry of refugees from select nations, the Trump administration has moved ahead with its next pet theme – protectionism.

Cautious optimism writ large all over

Presenting an overview of the health of an economy recovering from the shock of note-ban, the Economic Survey 2017 has pegged the GDP growth at 6.75 to 7.5 per cent in 2017-18.
The wider variation suggests impending risks arising from external factors like US protectionism and rising oil prices.
The Survey noted that GST roll out would boost investment and growth in the coming fiscal with long term benefits from demonetisation.

Inflation to be below 5% in FY17, trend to continue: Survey

Retail inflation is likely to be well below RBI's target of 5 per cent in the current fiscal as demonetisation would discourage any price headwind, the Economic Survey for 2016-17 said today.

The new inflation targeting approach by the Monetary Policy Committee (MPC) and gains from macro-economic stability will help India consolidate gains on price control, meaning prices will be less susceptible of individual whims and caprice of governments, the Survey said.

Note ban shaves off GDP growth rate by up to 0.5 pc in FY17

Demonetisation will shave off the economic growth for the current fiscal by 0.25 per cent to 0.50 per cent though it will have long-term benefits for the economy by reducing interest rates and eliminating corruption, besides bringing in more activities in the formal sector.

The cash squeeze, following junking of high value notes of Rs 500/1000 on November 8, 2016, the Economic Survey for 2016-17 said, "will have significant implications for GDP, reducing 2016-17 growth by 0.25 to 0.50 percentage points compared to the baseline of 7 per cent".

Rail Budget to focus on safety, infra development

A safety fund of Rs 20,000 crore for railways reeling under a series of deadly derailments, development of new lines, station redevelopment and setting up of Rail Development Authority and High Speed Rail Authority will be in focus as Finance Minister Arun Jaitley presents the first Rail Budget subsumed in the General Budget tomorrow.

GDP to be lower at 6.5% in FY17; rebound next fiscal: Survey

India's economic growth has been pegged at 6.5 per cent for the current fiscal, down from 7.6 per cent recorded in the last financial year, but is expected to rebound in the range of 6.75-7.5 per cent in 2017-18.

The Economic Survey for 2016-17, tabled in the Parliament by Finance Minister Arun Jaitley today, underlined the need for more reforms.

The Survey's GDP growth figure for the current fiscal is lower than 7.1 per cent the Central Statistics Office had forecast earlier this month.

Look forward to pay hike similar to last year, report says

Employees in India can expect pay hike of 10.3 per cent on an average across job roles in 2017, marginally higher than last year, according to new research by the Hay Group division of Korn Ferry.

"This year's compensation study predicts the pay raise to be more or less the same or slightly higher than last year. The general market can expect the median salary increase and salary hike figure to stay between 10-11 per cent," said Amer Haleem, Country Manager, Productized Services, Hay Group.

Creation of next-gen infra govt's top priority: Prez

Next-generation infrastructure right from highways to i-ways along with creation of a blue economy through innovative Sagarmala project and lighting the rural India have been on top of the government's agenda, President Pranab Mukherjee said today.

Pulse rates in check due to govt's proactive steps: President

Pulse prices are under control after the government took proactive steps, President Pranab Mukherjee today said, emphasising that the government's focus has been on "holistic development" of the farm sector.

The President also said the acreage under kharif and rabi crops has risen this year on account of favourable monsoon after consecutive years of drought.

H-1B reform bill introduced in US House of Representatives

A legislation has been introduced in the US House of Representatives which among other things calls for more than doubling the minimum salary of H-1B visa holders to USD 130,000, making it difficult for firms to use the programme to replace American employees with foreign workers, including from India.