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Rising fuel prices eating into non-discretionary, health spends: SBI report

The steady rise in auto fuel (petrol and diesel) prices has not only fanned inflation concerns over the past few months, but has also altered spending patterns of consumers. A recent report by the economic wing of State Bank of India (SBI) suggests that as consumers are spending more on fuel, it is crowding out expenses on health.
“Our analysis of SBI card spends indicates that spend on non-discretionary health expenditure has been substantially reduced to accommodate increased expenditure on fuel. In fact such spending has more than crowded out the spending on other non-discretionary items, like grocery and utility services to such an extent that the demand for such products has significantly declined,” wrote Dr. Soumya Kanti Ghosh, group chief economic adviser at SBI in a July 13 note. ....

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NITI Aayog On Economic Recovery: Economy Will Grow At A Pace Of 10%-10.5% In Current Fiscal, Says Rajiv Kumar

Rajiv Kumar, Vice-Chairman, NITI Aayog on Saturday said he is confident that every organisation will revise their growth projections to 10-10.5 per cent once they witness the growth rate by October. ....

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Niti Aayog: Private sector of India has to be key driver of growth: Niti Aayog VC Rajiv Kumar

Synopsis
Speaking at a webinar organised by Merchants Chamber of Commerce and Industry, Kumar said that the private sector also needs to create trust with the government, which is the need of the hour.
Agencies
Vice-chairman of Niti Aayog Rajiv Kumar
Vice-chairman of Niti Aayog Rajiv Kumar on Thursday said that the private sector of the country will have to drive growth and not the public enterprises as they used to be.
Speaking at a webinar organised by Merchants Chamber of Commerce and Industry, Kumar said that the private sector also needs to create trust with the government, which is the need of the hour. ....

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Centre identifies 9,732 compliances to be tweaked or erased, states too likely to scrap archaic laws

Centre identifies 9,732 compliances to be tweaked or erased, states too likely to scrap archaic laws
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Centre identifies 9,732 compliances to be tweaked or erased, states too likely to scrap archaic lawsBy
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Synopsis
The deadline is critical as India is set to celebrate its 75th Independence Day this year with a likely focus on “ease of living” and “ease of doing business”, among others.
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If the central government has its way, a multitude of compliance burdens on companies and individuals will turn history by August 15. The deadline is critical as India is set to celebrate its 75th Independence Day this year with a likely focus on “ease of living” and “ease of doing business”, among others. ....

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