Read daily news briefs on the economic issues collected from different sources.
The inflation based on the consumer price index (CPI) hit 7% in August 2022 due to the rise in the prices of food items like cereals and vegetables along with the cost of homes and rentals. At the same time, the index of industrial production dipped to a four-month low of 2.4% in July 2022. [BL]
The sign of a slowdown in the Indian IT sector can be seen as social media is filled with the complaints of several candidates who were offered jobs off-campus and in-campus recruitment processes but still waiting for formal confirmation. [BL]
The last hurdle to the Adani takeover of New Delhi Television Limited (NDTV) seems to be cleared now. The Income-Tax Department has clarified that The warrants of the RRPR holding can be converted into NDTV shares in favour of the VCPL. [BL]
In the financial year 2022, over 3.5 million used cars valued at $23 billion were sold in India. According to the Indian Blue Book report, the demand for used cars in tier-2 and tier-3 cities of India is growing very fast. [BL]
According to the latest report of the International Labour Organization (ILO), forced labour and forced marriage rose to 50 million globally by 2021 a sharp rise from 40 million in 2016. [BL]
According to economists, RBI may raise the key policy rate by 0.5 percentage points [ET]
TRAI has said the 30days/month plans for prepaid consumers are given by all telecom service providers. [ET]
India could account for 12% of global iPhone sales by the financial year 2026. [BS]
Amazon seller services an arm of the US e-commerce giant reported a net loss of Rs.3.6 thousand crores in the financial year 2022. [BS]
The subsidy on fuel which was as low as Rs.241 crore in the financial year 2022 will raise significantly in the current fiscal year. The centre will likely provide an additional Rs.20 thousand crore subsidy to state-run fuel retailers. [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
