recession
By Mohammed Kudrati The Indian economy grew 7.2% in the previous financial year ending March 31 this year, with quarterly growth coming in at 6.1% in last quarter (Q4) of the financial year (January to March 2023), data released by the Ministry of Statistics and Programme Implementation (MOSPI) shows. These yearly numbers have come in marginally above expectations. The official estimate by the government for the full year stood at 7%. Economists told Reuters that the growth rate for the full year would be around 6.8%. However, these economists were only expecting growth in Q4 to be around 5%, ...
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By BOOM Team A massive job cut began at Goldman Sachs on Thursday with the investment giant planning to slash down around 6.5% of its workforce. CNBC reported that around 3,200 people in the workforce are likely to be let go, terming it the cost-cutting move the largest in the banking sector. "We're looking at expenses in every corner of the firm, so it's ridiculous to focus on any single segment or item," BBC quoted Goldman Sachs's spokesperson as saying. The firm employs around 49,000 people across the world. Among several people to be laid off is 23-year-old Shubham Sahu, a graduate from II...
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By Kirti Rawat पिछले 2 सालों में महंगाई लगभग 6% से ऊपर बढ़ चुकी हैं. Covid 19 से शुरू हुई बढ़ती महंगाई का प्रकरण आम आदमी की कमर तोड़ रहा हैं. ना सिर्फ सब्जी, फल, दूध, अंडे, रोज़ मर्रा की चीज़ें, किराना आदि ही नहीं बल्कि बच्चों की स्कूल की फीस, कपडे़, यहां तक की घर का किराया तक सभी आइटम बेइंतेहा महंगे होते जा रहे हैं. पेट्रोल, डीजल के बढ़ते दामों के अलावा ये महंगाई किस हद तक आम आदमी का बजट बिगाड़ रही हैं? क्या कारण हैं इस बढ़ती महंगाई के पीछे? क्यों दुनिया भर में महंगाई इस वक़्त अपने चरम पर हैं? कम्बख्त पैसा के इस episode पर, हम पहुँचे है जनता के बीच उनसे ये अहम सवाल पूछने।
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By Mohammed Kudrati Several social media users have mocked Raghuram Rajan claiming that the former Governor of the Reserve Bank of India said that India should be in a recession to show "inclusivity". BOOM found the claim to be false as the said remark stems from a satire website BOOM contacted Rajan, currently a professor of finance at the University of Chicago's Booth School of Business, who said that he did not make these comments. Raghuram Rajan, a former governor of the Reserve Bank of India between 2013 and 2016 , also served as Chief Economist at the International Monetary Fund. The Fau...
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By The Conversation The Federal Reserve on June 15, 2022, lifted interest rates by 0.75 percentage point, the third hike this year and the largest since 1994. The move is aimed at countering the fastest pace of inflation in over 40 years. Wall Street had been expecting a half-point increase, but the latest consumer prices report released on June 10 prompted the Fed to take a more drastic measure. The big risk, however, is that higher rates will push the economy into a recession, a fear aptly expressed by the recent plunge in the S&P 500 stock index, which is down over 20% from its peak in Janu...
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