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Tuesday Feb 07, 2023

Economic Review 2022-23 | Capital expenditure target of Rs 7.5 lakh crore is expected to be achieved in the current financial year: Review


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New Delhi : Capital expenditure has started boosting private investment and the budgeted target of Rs 7.5 lakh crore for the current fiscal is expected to be achieved. This has been estimated in the Economic Review 2022-23 presented in Parliament on Tuesday. It has been said in the review that the capital expenditure of the central government has increased at an annual rate of 63.4 percent in the first eight months of the financial year 2022-23.

This has been another major factor driving the economy of the country. According to the review, ‘the current trend suggests that the budgeted target of capital expenditure for the full year will be achieved.’ Accordingly, with the strengthening of the books of the companies, their ability to borrow has increased.

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The finance minister had raised capital investment by 35.4 per cent to Rs 7.5 lakh crore for the financial year 2022-23 to continue public investment to revive the pandemic-hit economy. Capital expenditure in the last financial year was Rs 5.5 lakh crore.

The government has emphasized on increasing capital expenditure for the progress of economic growth affected by the Corona epidemic. It is expected that increased public spending will help in increasing private investment.



Need to further strengthen relations with India, will work, said US MP. Latest News In Hindi India US News USA MP Shri Thanedar Says Will Work To Strengthen Economic Ties With India


Talking about the relationship between India and America, an American MP said that the relationship between the two countries is not as strong as it should be. He said that he would work on establishing better relations with India.

Need to strengthen ties with India, will work, says US MP

US MP Mr. Thanedar

Image Credit source: PTI

Indian-American Congressman Mr. police station said that India And America The relations between have not been as strong as they need to be. He pledged that he would work to strengthen economic ties, which would benefit both the countries and help enhance people-to-people cooperation.

Thanedar (67) represents Michigan’s 13th Congressional District, which consists primarily of Detroit and its suburbs. He was sworn in as a member of the US House of Representatives earlier this month. He has become the fifth Indian-American to join the current Congress (Parliament). Earlier, Dr. Ami Bera, Raja Krishnamurthy, Ro Khanna and Pramila Jaipal have also become MPs.

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India now has the presidency of the G20

Thanedar told PTI-language, I think historically it (India-US relationship) has not been as strong a relationship as it should be. We are the two largest democracies. India has huge economic power. India now has the presidency of the G20. Please tell that India has got the presidency of G20 this year. The special thing is that India has made up its mind to focus on the needs of many changes in the organization. In this regard, meetings are also being organized in different states of India.

Both India and America will be benefited

Thanedar’s first month in the House has been historic, as he voted 15 times to elect the Speaker. This week he was made a member of two influential House committees – Small Business and Homeland Security. He told, India has been recognized for its economic power. America will benefit from this. I think, both America and India will benefit from strong mutual relations, a relationship of trust, mutual economic relations, … more trade, mutual trade.

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Dragon creating military and economic pressure on Taiwan, America gave warning to China. Antony Blinken warns China against changing status quo on Taiwan


The rivalry between China and Taiwan is old. Taiwan considers itself an independent nation, but China has always been asserting its authority over it. In the last few months, Chinese fighter aircraft have entered the border of other countries several times.

Dragon creating military and economic pressure on Taiwan, America gave warning to China

US Secretary of State Antony Blinken. (file photo)

Image Credit source: TV 9

US Secretary of State Antony Blinken has warned China against changing the status quo of Taiwan, which is important for maintaining peace and stability in the region. During a conversation with David Axelrod, founding director of the Institute of Politics at the University of Chicago, Blinken said on Friday that over the past few years, China has been trying to put military and economic pressure on Taiwan.

“With regard to Taiwan, we have seen in the last few years that China has made a decision that it is not comfortable with the status quo that has been in place for decades, which is affecting the relationship between our countries and the management of the difficult situation,” he said. I have been really successful.

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Blinken said, we have seen them (China) in the last few years. They have increased military pressure, economic pressure on Taiwan, they are trying to cut its ties with international organizations and countries around the world. He said that from the US perspective, the status quo has worked and it is important for maintaining peace and stability in the Taiwan Strait.

Indian-American Republican leader Nikki Haley has said that she feels that she can be the new leader to take the country in a new direction and it is not possible for Joe Biden to get a second term as US President. In an interview given to Fox News, the former governor of South Carolina and US ambassador to the United Nations said that she plans to run for a possible presidential election. Asked whether she is joining the presidential race, the 51-year-old leader said, “I think, you keep watching.” Well, I am not going to make any announcement here.

‘Danger on the world, UN Chief Gutares warned, said partnership and cooperation is the only defense. UN secretary general antonio guterres warns of dangers to world in world economic forum


United Nations Secretary-General Antonio Guterres said on Wednesday that the world is facing severe storms on different fronts and at the moment we can only work together to reduce the damage caused by it. Guterres at the annual meeting of the World Economic Forum (WEF) here in 2023 […]

'Danger on the world, UN Chief Gutares warned, said - partnership and cooperation are the only defense

United Nations Secretary-General Antonio Guterres.

Image Credit source: PTI

United Nations Secretary-General Antonio Guterres said on Wednesday that the world is facing severe storms on different fronts and at the moment we can only work together to reduce the damage caused by it. Guterres here World Economic Forum In his special address at the (WEF) Annual Meeting 2023, he asked to stay away from the use of fossil fuels and stop the self-defeating battle against nature.

He said that there is no perfect solution for such a storm. But we can try to reduce the loss from this and take advantage of this opportunity. He said that the time has come to find a way of partnership and cooperation between our fragmented world.

world slows down

He said that I have not come here to belittle or belittle the challenges or the bad situation in the world. Unless we look at the problems with all sincerity, they will not be solved. Guterres warned that our world is battling storms on various fronts. The immediate problem is the global economic crisis. Things are not looking right. There is recession in many parts of the world. The pace of the whole world has slowed down.

We are not prepared for pandemics at all

He further said that Kovid-19 is still affecting the economies and not being prepared to deal with future pandemics is not fair for the economies. He said that even after facing all this, we have not learned the lesson of global public health in the epidemic. We are absolutely not prepared for future pandemics.

increase in global temperature

He said that every coming week is bringing new climate related disasters. The emission of green house gases is at a high level. The pledge to stop the increase in global temperature to 1.5 degree Celsius is not being fulfilled. Without taking any action, we are heading towards a 2.8 degree Celsius rise in temperature.

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India Economy | Bad news on the economic front! World Bank slashes India’s economic growth rate for FY24


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Pic: Money Control

New Delhi. India’s economic growth rate will come down to 6.6 percent in the next financial year (2023-24). The World Bank has estimated this. The growth rate in the current financial year 2022-23 is estimated to be 6.9 percent. “However, India will remain the fastest growing economy among the seven largest emerging market and developing economies (EMDEs),” the World Bank said in its latest forecast on the Indian economy.

The economic growth rate in the financial year 2021-22 was 8.7 percent. The growth rate in the financial year 2024-25 is estimated to be 6.1 percent. “Slowdown in the global economy and growing uncertainty will have an impact on export and investment growth,” the statement said. The government has increased spending on infrastructure and facilities for business. However, this would help in mobilizing private investment and support the expansion of manufacturing capacity.

The World Bank said, “The growth rate is expected to slow down to 6.6 percent in the financial year 2023-24. After that it may come down to a little above six per cent. In the first half (April-September) of the current financial year, the gross domestic product (GDP) growth rate has been 9.7 percent on an annual basis. This indicates an increase in private consumption and investment. For most of last year, consumer price index-based inflation remained above the Reserve Bank of India’s (RBI) comfortable level of six per cent.

Due to this, the central bank has increased the key policy rate repo by 2.25 percent between May and December. India’s merchandise trade deficit has more than doubled since 2019 and stood at $24 billion in November. The trade deficit widened due to crude petroleum and petroleum products ($7.6 billion) and other items such as ores and minerals at $4.2 billion. The World Bank said India used its international reserves ($550 billion in November, or 16 percent of GDP) to hedge exchange rate volatility to curb rupee depreciation.



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