Read daily news briefs on the economic issues collected from different sources.
In an initial review, the Competition Commission of India (CCI) found that the Sony-Zee deal to create a $10 billion TV enterprise can hurt competition as they hold “unparalleled bargaining power”. [BS]
The revenue per employee at IT firms continues to decline for 2nd straight year. According to industry experts, the reasons behind this continuous decline are higher offshoring and work from home. [BS]
Despite the war in Europe and high inflationary pressure worldwide, the private final consumption expenditure (PFCE) and capital investment in India registered a strong recovery in the first quarter of the financial year 2023. However, this is not the same for government expenditure. [BS]
The rises in energy prices, mainly driven by the war, resulted in record inflation of 9.1% in August in the euro zone’s 19 countries. Since 1997, when the record-keeping for the euro started, it is the highest level of inflation. [BS]
India’s economy grows 13.5% in quarter 1(April-June), the highest in a year, boosted by a strong recovery in construction and contact intensive services as well as a favourable base effect which has magnified the growth. [ET]
Flexible policies such as childcare sabbatical, Flexibility at work, especially to young mothers, nanny allowance and day care reimbursement are being adopted by Indian companies to hire and retain female employees in senior and non-conventional roles. As a result, Gender Diversity is improving largely in companies work places. [ET]
With an eye on the Lok Sabha election 2024 and Assembly polls in seven crucial states, Kejriwal is going to begin his all-India campaign ‘Make India No. 1’ on 7 September. [ET]
Despite the spike in food and fertilizer subsidies, the Centre’s fiscal situation is in control and the fiscal deficit stood at 20.5% in April-July (FY2023). [ET]
According to provisional data from the Centre for Disease Control and Prevention, US Life expectancy at birth dropped to 76.1 years from 77 years and 78.8 years in 2020 and 2019 respectively due to the Covid-19 pandemic. It is the lowest since 1996. [ET]
Editors:
Alok Aditya (Junior Research Fellow at ISEC)
Anuradha (Research Assistant at ADRI)
Note: BL – Business Line, BS – Business Standard, FE – Financial Express, ET – Economic Times