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Mint SnapView has been highlighting. What this shows is that ‘K-shaped economic recovery’, as economists call the phenomenon, is at risk of becoming a continuing trend in the absence of policy steps to correct the imbalances.

S&P Global Ratings on Monday raised India’s growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4 per cent, as it expects growth to slow in the second half (October-March) of the current fiscal, on higher base impact and subdued global growth. “We have revised up our projection for India’s GDP growth for fiscal 2024 (ending in March 2024) to 6.4 per cent, from 6 per cent, as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports.

Read here: Exit polls, GDP data, F&O expiry, auto sales to guide market direction this week The agency also noted that GDP exceeded the 2019 level by 15.5 percent in India in the first half of the current fiscal. Also, fixed investment has recovered considerably more than private consumer spending, it added. S&P also believes that it will take some time for India's interest rate cycle to turn as the headline inflation still remains above the RBI's target of 4 percent.

India’s growth forecast for FY24 upward to 6.4% from 6% projected earlier, bringing it in line with RBI’s estimate of 6.5%. The American rating agency, however, lowered the FY25 growth estimate by 0.5 percentage points to 6.4%. It expects the economy to bounce back to 7% growth in FY26 and FY27. The upward revision by the global rating agency follows a similar revision by the International Monetary Fund, which revised India’s growth forecast for FY24 upward to 6.3% in October from 6.1% projected earlier and brings it on par with World Bank (6.3%) and ADB (6.3%). Indian economy likely grew better than expected at 6.7% in the second quarter of FY24, according to a median of an ET poll of 10 economists, compared with 6.5% projected by RBI.

deluges, droughts and wildfires, leaders are convening for another round of United Nations climate talks later this month that seek to curb a centuries-long trend of humans spewing ever more greenhouse gases into the atmosphere. For hundreds of years, people have shaped the world around them for their benefit: They drained lakes, deforested lands and mined for metals and minerals to grow wealth and economies. They dug up billions of tons of coal, and then oil and gas, to fuel empires and economies.

Christopher Luxon was sworn in as New Zealand's prime minister on Monday and said his top priority was to improve the economy. The 53-year-old former businessman leads a conservative coalition after his National Party struck a deal Friday with two smaller parties following a general election last month. After the swearing-in ceremony, which was presided over by Governor-General Cindy Kiro, Luxon told reporters the job was an «awesome responsibility.» He said he would hold his first Cabinet meeting Tuesday and look to quickly finalize a 100-day plan. He said he also planned a visit to Australia before Christmas Day. Luxon said he needed to get a Treasury briefing on the state of the government's finances. «We are concerned and worried that it's been a deteriorating picture for a number of months now,» Luxon said. Under the coalition agreement, Luxon has promised to deliver tax cuts and train 500 more police officers within two years.

Xi Jinping Thought in the New Era of Socialism with Chinese Characteristics." A billboard-sized image of Mr Xi, China’s leader, waves to visitors as they enter the lobby. In a nearby factory NHI’s tunnel-boring machines, used for digging metro lines, rise four storeys into the air. The company was founded by the state many decades ago.

Every month, Mint’s Plain Facts section brings out an update on key global economic data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts attempt to explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India. This time, we explain incoming central bank decisions in various countries, and the deflation in China that’s raising questions about its growth prospects.

Independent market expert Mahantesh Sabarad says “this could probably be the good time to lock in your home buying activity because you will potentially see interest rates falling as you go ahead because most of the home loans are variable interest rate structured, you will tend to find that benefit coming in. I do not believe that this is the time to get into the cement companies as a play on the real estate sector. ” Do you think cement and building materials is a better way to play the real estate theme right now because the real estate developers themselves have run up quite substantially? Yes, sometimes it does make sense to play in the real estate segment through the cement companies but not always.

The coming week should be interesting, as significant economic data releases and critical new flows are expected to provide direction to the market, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said. Among the domestic data sets, India's quarterly GDP figures, monthly auto numbers, and exit polls from the recently concluded state elections are likely to weigh on markets, Singh said. Nifty ended flat while Bank Nifty with declines of 0.9%. What is the outlook for next week? Markets have been trading with a positive tilt in recent weeks, but the key indices, Nifty, Bank Nifty, and Sensex, have been unable to break above recent highs. And, with investor interest in the primary market increasing, as well as profit-booking, we should expect increased volatility in the coming week.

Danielle Smith will be using the province’s Sovereignty Act to challenge Ottawa’s requirement to achieve a net-zero electricity grid by 2035.Smith confirmed the plan on 630 CHED’s and QR Calgary’s Your Province Your Premier on Saturday.During the radio show, Smith said the province tried to work collaboratively with the federal government to make the province’s electricity grid net zero by 2050. However, Ottawa’s target of 2035 is “unachievable” and will make electricity unaffordable for Albertans, she said.“We will not put our operators at risk of going to jail if they do not achieve the unachievable,” she said.

MUMBAI : Asset allocation in equities should reflect the changes in market conditions. Unfortunately, a lot of investors have misinterpreted this as selling when the market goes up and buying when the market goes down," says Nimesh Chandan, chief investment officer, Bajaj Finserv Mutual Fund. The asset management firm was in the news recently for launching a balanced advantage fund (BAF), a type of hybrid mutual fund that invests in a mix of equity and debt securities.

Council of Economic Advisers Chair Jared Bernstein tells ‘FOX News Sunday’ that ‘real wages’ are rising and the job market is ‘as tight as it’s ever been.’ 

SYDNEY (Reuters) — The Australian government will introduce legislation this week that would give the central bank's independent expert members more responsibility for setting interest rates with a new specialist monetary policy board.

By Hyonhee Shin

Investing.com — With investors on tenterhooks over when global interest rates might start to fall, upcoming inflation data this week will be in focus. OPEC+ meets to discuss oil output cuts and data from China will give fresh insights on the economic outlook for the world’s number-two economy. Here’s what you need to know to start your week.

Stocks on Wall Street closed mostly higher on Friday to notch another winning week on growing expectations the Federal Reserve is done with raising interest rates and could start cutting them next year.

Meena is far more comfortable now with hailing an autorickshaw in Bengaluru. Namma Yatri, the Bengaluru-based autorickshaw service built on a digital public goods framework, knows she needs a ride that’s disability-friendly. The autorickshaw driver who goes to pick her up is trained and aware of the needs of persons with disabilities, a factor that allows Meena to be more mobile and independent.

Narendra Modi will attend the World Climate Action Summit in Dubai on December 1, the Ministry of External Affairs (MEA) said in a statement on Sunday. The prime minister will reach the United Arab Emirates (UAE) on November 30, at the invitation of H.H.

Narendra Modi urged Indians living in the country to stop relying on cash for transactions and instead pay digitally, a habit the government has been seeking to inculcate in citizens as part of its digital economy efforts. In the 107th edition of his public outreach programme ‘Maan ki Baat’, Modi urged citizens to make payments only through the digital mode for at least a month. “Decide for yourself that for one month you will make payments only through UPI (Unified Payments Interface) or any digital medium, and not through cash," he said.

Repo rate, also known as the repurchase rate, is the rate at which the central bank lends money to commercial banks. Repo rate is crucial in altering the economic landscape in the intricate network of financial systems. Fluctuations in this rate have far-reaching implications, altering the cost of credit and borrowing across the economy. Here’s how.