RBI reduces growth projection
RBI reduced GDP growth projection for the current financial year by 20 basis points to 6.5% when grading global trade and placing tariffs in the US. Growth forecasts were reduced for three out of four quarters.
While a reduction in policy reports by 25 basis points, RBI noted that while it is expected that domestic factors such as permanent demand in rural areas and the expected revival in urban consumption will support growth, export goods will be reduced by developing global economic landscape.
Also read | RBI made its piece: fiscal and business policy must do the rest
Increasing unemployment
According to the latest survey of regular workforce (PLFS), India’s unemployment rate in persons aged 15 and higher in 2024 in 2024 in 2024 in the previous year. Rural unemployment increased by up to 2.5% of 2.4%, while urban areas have seen a slight improvement, while the unemployment rate decreased from 5.2% to 5%. However, unemployment in urban areas was much higher than in rural areas. In particular, women’s participation in the workforce in 2023 decreased to 40.3% of 41.3%.
Trump’s teasing of tariffs
90 days: This is the duration of a temporary break on mutual tariffs announced by US President Donald for all nations except China. A 10% basic tariff is used instead. China, which has retained against the US, will now face a steeper 125% of the tariff and signals a full -fledged trade war among the largest and the second largest countries in the world.
Also read | Mint Primer: What does Trump’s tariff anger mean for investors
However, the temporary relief launched the market rally, which caused the S&P 500 more than 10% and NASDAQ more than 12%. However, China soon retired 84% with American goods.
The appearing startups of AI
Recent comments from Trade Minister Piyush Goyal have evoked a debate on innovation in the ecosystem of the launch of India. Its concerns are not completely incorrectly placed, because many startups focus on consumer and retail space. Analysis of the Mint Recognized Beginning Enterprises shows that IT services, the health and food industry dominate.
Also read: Real Innovation Laggard is India Inc, Not Startups
However, there are also startups of artificial intelligence (AI), which accounts for about 1.5% of the total. While India has the third highest number of unicorn in the world, it lags behind the US, China and several other countries on AI and Deep Tech.
Byd’s Power Drive
The giant Chinese electric vehicle (EV) RYT has rapidly increased to importance and overcome Tesla in the volume of income and sales. In 2024, the company resulted in an impressive $ 107 billion revenue, which overtaken Tesla to $ 97.7 billion. This shift is a significant turning point in the EV industry, and it is expected to be exceeded by Tesla in a global market share by 2025, showing Hownialives.com.
The company’s growth is powered by its technological leadership, a vertically integrated manufacturing model and cheaper assembly of its vehicles compared to the Western models.
Also read: Mint Quick Edit | Byd versus Tesla: Let merit decide on the position of the field
Dutch task of Tata Steel
1600: This is the number of jobs that Tata Steel will reduce the Netherlands to save costs. This is almost one fifth of the 9,000 workforce in the factory I NOKNOIDEN Steel Factory. The company takes several measures to save over 500 million euros (probably £4 800 crore) in FY26 costs, Mint reported. This comes against the background of the transition towards cleaner steel with financial assistance of the Dutch government. By 2030, the company is trying to close one of its two blast furnaces based on coal in iNoiden.
Change in formulas of remittings
India remained the world’s largest remittance in the world in 2023 and received $ 119.5 billion from its international migrants. However, remittance patterns are changing. According to the Indian Reserve Bank (RBI), the proportion of remittances from advanced economies has increased and exceeded it from the Gulf countries.
In the years 2023-24, the US, the United Kingdom, Singapore, Canada and Australia were 52% of Indian remittances, while six Gulf countries, which organized 45% of Indian migrants, contributed only 38%. This reflects the shift of migrants towards qualified work in countries with higher incomes.
Also read | Brain gain: Experienced Indians promote overvoltage of remittance in India
Graph of the Week: Trend of Fuel
The Union Government has increased the consumer tax on gasoline and diesel £2 per liter. However, retail prices do not change due to the fall in oil prices. While the prices of gasoline and diesel have not deviated much from oil trends in recent years, the last step may open the gap.
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