MACRO ECONOMIC NEWS

 Be a part of the drive with two locally- manufactures shots. 

Wishing a Healthy Start This Ahead.

-Arbind

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Macro-Economic News 16 Jan 2021

In-person events will be back; that is — mostly — good news for the world. India kicks off the ‘world’s largest’ vaccination campaign with two locally-manufactured shots, this Saturday. 

IMF chief praises India for taking ‘very-decisive’ steps to deal with the pandemic and its economic consequences while CMIE warns that the ageing of India's workforce due to high job loss in the below-40 group is not good for a strong recovery. 

Budget 2021 may bring gross tax revenues back on track in FY22 while CBDT relaxes the requirement of remunerating fund managers of offshore funds. Indian friction with the U.S. rises over the planned purchase of Russian S-400 defense systems. Here, on home turf, either government is not farming or the farmers are not governing, making no headway on the ninth round of talks between them. 

After the holiday slump, activity in several of the world’s largest advanced economies extended its recovery in the second week of January, yet remained significantly lower compared with early December. The U.S. retail sales declined, meanwhile, the U.S. factory sector continues to show promise. Euro-area pain continues and Bloomberg sees the economy contracting 4.1% in the first quarter, after a 1.5% drop in the final three months of 2020. 

The U.K. dropped behind the U.S. as the best international business location; even so, it’s still ahead of other Group-of-Seven countries, with Italy at the bottom of the list.

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