Read daily news briefs on the economic issues collected from different sources.
Indian Benchmark equity indices are showing a strong rebound compared to its peer indices. The trend is largely due to strong inflows of foreign portfolio investment and easing crude oil prices. [BL]
In the latest report of the Human Development Index (HDI) published by the United Nations Development Programme (UNDP), India ranked 132nd position among 191 countries. India ranked 130th position in the year 2020. However, according to UNDP, the latest report can not be compared with the 2020 report. This is mainly due to the increase in the number of participants, COVID impacts, and recent global geopolitical upheavals. [BL]
Urban unemployment in the April-June quarter of 2022 was 7.6%, 0.6% lower than the previous period according to the latest “Periodic Labour Force Survey” quarterly bulletin. It is also the lowest since the pre-COVID level. However, the workforce participation rate is largely stagnant. Rajasthan and Kerala registered the highest unemployment rates of 12.8% and 12.5% respectively. [BL]
Finance minister, Nirmala Sitharaman said that monetary policy alone cannot tackle inflation, it also requires some robust fiscal measures. She added that there is a need to address supply-side constraints, timely and periodic response to development on the ground, manage input prices, logistics and infrastructure, and a steady supply of food and perishables. [ET]
A part of the credit agency Fitech, Creditsights finds calculation errors in its recent debt report on two power and transmission companies controlled by Gautam Adani. [BS]
Google Play Store is conducting a pilot programme to enable the distribution of daily fantasy sports and rummy apps in India. The pilot programme will go on for one year. Till now these apps are being distributed through a .apk file from the developer’s website. [FE]
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
