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Indian economy will accelerate in 2021-22, GDP growth projected to be 11%

Finance Minister Nirmala Sitharaman has presented the Economic Survey 2021 in Parliament today and it is today given to Chief Economic Advisor…

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SVB Crisis Triggers Loss in Global Financial Equities Worth $465 Bn in Two Days

Finance Minister Nirmala Sitharaman has presented the Economic Survey 2021 in Parliament today and it is today given to Chief Economic Advisor K.V. Subramanian launched. The Economic Survey estimates gross domestic product (GDP) growth to be higher than China. This survey reveals the picture of the country’s economy during the Corona crisis.

According to the survey, due to Corona, GDP in the current financial year. It is expected to fall by 7.7 percent, but after that, there will be a V-shape, hence the GDP in 2021-22. I will grow 11 percent. Nevertheless, it will take 2 years for the economy to reach pre-pandemic levels.

Also Read: Indian economy is expected to grow by 8.9% in the next financial year

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Need for incentives and social security benefits

From April to June 2020 from Lockdown due to coronavirus, GDP was released. The size was reduced by 23.9 percent. After unlocking, the situation improved and the September quarter fell to just 7.5 percent. Thus in the first half of 2020-21, the GDP size is reduced by 15.7 percent. The survey estimated that there would be only a 0.1 percent drop in the second half. However, the major reason for this is the increase in government spending.

The survey also has a roadmap for the Indian economy, so special attention has been given to many things to become a $ 5 trillion economy. The Economic Survey 2020-21 ‘has been prepared by a team led by Chief Economic Advisor Krishnamurthy Venkat Subramanian, which describes the state of the various sectors of the economy as well as the reforms that must be undertaken to speed up development. The Economic Review states that there is a need for pay and career advancement, incentives for better work, and social security benefits for women at the workplace to increase women’s participation in the workforce in India.

Agricultural growth rate to be 3.4 percent, negative growth in industry and services

The biggest support for the economy this year is agriculture. Its growth rate is expected to be 3.4 percent. Gdp Its share in will also increase. It was 17.8 percent in 2019-20, to be 19.9 percent this year. Apart from agriculture, 2 sectors of the economy are industry and services. The industry is expected to decline 9.6 percent in the current financial year. The growth of the service sector will also be -8.8 percent. The weightage of food products should be revised to reflect the true picture of inflation in the country. The review noted that inflation should include new sources of price data amid increasing retail e-commerce transactions.

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Also Read: Morning Consult claims – PM Modi is the most popular Leader in the world

85 percent of small farmers in the country benefit from new agricultural laws

These laws have been praised in the survey, even though farmers have been agitating for 2 months in protest against the new agricultural laws. Accordingly, the new laws will benefit small farmers. Farmers will have more rights when dealing with processors, whole sellers, and big retailers. 85 percent of the total farmers in the country are small farmers. Given the uncertainty in farming, the risk still remains for farmers. The risk from the new laws will be for those who deal with farmers in contract farming. Farmers will be able to fix the price of their crop. They will also get their payment in three days. Contract farming will also bring new technology to farming.

The survey found government spending on health care Has been said to be taken from 2.5 to 3 percent. This goal was also set in the National Health Policy of 2017. Despite this, it is still around 1 percent. Spending should increase in Internet connectivity and health infrastructure. The telemedicine also needs to be promoted.

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Innovation is necessary to become the third major economy

The survey also mentioned the measures that can be adopted to accelerate the economic growth rate. It says that India is currently the 5th largest economy in the world. If it is to reach the third position, then it is important to focus on innovation. The global economy will also decline by 4.4 percent this year due to Corona. This will be the biggest decline in a century.

The government should revive taxpayer grievance redressal system by giving it more powers. In the year of salvation, 2021-22, G.D.P. Is likely to remain positive. The services and manufacturing sector has been negative in FY 2020-21. At the same time, real GDP in FY 2022. Growth is projected at 11 percent, while nominal GDP. The estimate is 15.4 percent. At the same time, the International Monetary Fund also says that India’s economy will be 11.5 percent in 2021 and in 2022 it will be around 6.8 percent.

Also Read: Six in 10 HR managers in favour of working virtually even after lockdown

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Able to cover standard deviation, there will be a complete recovery in the economy in the next financial year. The derailed economy is now gaining momentum due to the Corona virus pandemic. V-shaped recovery has been observed in India. Steps to increase investment will be emphasized. Business activity will increase due to lower interest rate. It stated that the corona vaccine is possible to control the Pandemic and concrete steps are expected to be taken for further economic recovery.

Sovereign credit ratings of India do not provide information about fundamentals, written in a survey. Never in history has the BBB been rated as the 5th largest economy in the world. The fundamentals of India’s financial policy are strong. India’s forex reserve is capable of covering 2.8 standard deviations.

It is important that the sovereign credit rating methodology be made transparent. The Government of India has recognized 41,061 startups as on 23 December 2020. More than 39,000 start-ups across the country have provided employment to 4,70,000 people. SIDBI has committed Rs 4,326.95 crore to 60 alternative investment funds registered with SEBI by 1 December 2020.

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Lokendra Deswar: A visionary Editor-in-Chief at Unique News Online, Lokendra wields 6+ years of seasoned experience. His academic prowess and keen insights shape his coverage of Politics, Viral stories, Sports, and Technology, offering a well-rounded perspective that captivates and informs.

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

Trouble for Microsoft and OpenAI over copyright infringement is not coming to an end, as they face several lawsuits for violating copyrights.

On Tuesday, eight US newspaper publishers sued Microsoft for illegally reusing articles in AI products.

The 98-page long lawsuit further accused the tech companies of attributing erroneous information to the publishers.

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The eight newspapers that have filed the lawsuits include the New York Daily News and the Chicago Tribune.

They allege that OpenAI’s ChatGPT used their copyrighted articles to perfect its language models without permission.

The lawsuit was filed in a New York federal court on Tuesday. The publishers claim that OpenAI’s large language models, GPT-2 and GPT-3, were perfected using datasets containing text from their newspapers.

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The language models are designed to produce text based on human inputs and reproduce copies of the publishers’ works. Microsoft has been indicted for using newspapers for its Bing search index but seldom provided links to the original articles. Four months ago, The New York Times also filed a lawsuit against OpenAI, accusing the tech giant of using data from its past content. It also asked for consent for usage, criticizing the use of full article excerpts in chatbot responses.

The latest lawsuit filed by the eight news outlets also demanded consent and fair value for using their content to perfect the AI language models. The lawsuit alleged that the AI tools literally regurgitate their content without directing users to the content source.

The lawsuit filings stated, “This lawsuit arises from defendants purloining millions of the publishers’ copyrighted articles without permission and without payment to fuel the commercialization of their generative artificial intelligence products, including ChatGPT and (Microsoft’s) Copilot.”

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The eight newspapers that instituted the lawsuits are as follows:

  • The New York Daily News and The Chicago Tribune, both owned by Alden Global Capital
  • The Orlando Sentinel
  • The Sun Sentinel
  • The San Jose Mercury News
  • The Denver Post
  • The Orange County Register
  • The St. Paul Pioneer Press

OpenAI’s Response

OpenAI did not directly respond to the accusations but stated that it takes great care to support the news and media outlets. It also stated it is in continuous partnerships and conversations with various news outlets around the world to explore new opportunities, discuss problems, and seek out solutions.

Microsoft also stated that OpenAI has entered into fruitful partnerships with a number of publishers, which includes The Financial Times, The Associated Press, Spanish conglomerate Prisa Media, and Germany’s Axel Springer.

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

Who is Alan Patricof?

Alan Patricof is a prominent figure in the American investment landscape, renowned for his contributions to venture capital. With a career spanning over four decades, Patricof has been instrumental in shaping the growth of numerous global companies, including America Online, Apple Computer, and Audible. His legacy extends beyond business, with involvement in community organizations and government initiatives.

Alan Patricof Career

Alan Patricof’s career in venture capital began in the industry’s early days. He founded Patricof & Co. Ventures Inc., a precursor to Apax Partners, one of the world’s leading private equity firms. Later, he established Greycroft Partners, focusing on early and expansion-stage investments in digital media. Throughout his career, Patricof’s vision and leadership have played a pivotal role in advancing the venture capital field.

Alan Patricof’s Net Worth

As of May 3, 2024, Alan Patricof’s estimated net worth stands at over $1 million. His wealth is derived from various investments, including holdings in Boston Properties Inc. and successful ventures in digital media. Despite humble beginnings, Patricof’s entrepreneurial spirit and strategic acumen have propelled him to financial success.

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Alan Patricof Age

Born in 1934, Alan Patricof is currently in his late eighties. Despite his advanced age, he remains active in the business world, leveraging his wealth of experience to mentor emerging entrepreneurs and drive innovation.

Alan Patricof Family: Wife and Children

Alan Patricof has been married to his wife Susan for over 48 years. Together, they have three children and seven grandchildren. Family holds great importance to Patricof, and he credits his upbringing and heritage for shaping his values and work ethic.

Alan Patricof Height and Weight

While specific details about Alan Patricof’s height and weight are not readily available, his stature in the investment community is undeniable. Patricof’s impact transcends physical measurements, as he continues to leave a lasting legacy in venture capital and philanthropy.

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Also Read: Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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Net Worth

Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

Who is Stephen M. Ross?

Stephen M. Ross, the Chairperson of The Related Companies, is a distinguished figure in the real estate sector, renowned for his significant contributions and profound impact. Born on May 10th, 1940, in Detroit, Michigan, Ross embarked on his journey into real estate at a young age, demonstrating remarkable diligence and entrepreneurial spirit. Despite initially pursuing a career as a tax attorney, Ross soon discovered his genuine passion for real estate investment, laying the foundation for his illustrious career.

Stephen M. Ross Career

Ross’s career trajectory is marked by pioneering ventures and transformative projects. In 1972, he founded The Related Companies, which initially focused on subsidized low and moderate-income apartments. Over the years, Ross transitioned to higher-profile projects, including the iconic Hudson Yards development, valued at over $7 billion. His visionary approach and strategic partnerships have cemented his reputation as a prominent figure within the real estate industry.

Stephen M. Ross Net Worth

As of 2024, according to Celebrity Net Worth, Stephen M. Ross’s net worth stands at an impressive $10 billion, solidifying his status as one of the wealthiest individuals globally. Ross’s wealth accumulation is attributed to his unparalleled success as a real estate mogul, with an estimated annual income of nearly $700 million derived from royalties on his diverse property holdings. His continued involvement in the real estate sector, with ongoing projects in New Jersey and Florida, further contributes to his substantial net worth.

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Stephen M. Ross Age

Currently, Stephen M. Ross is 83 years old, born on May 10th, 1940. Despite his age, Ross remains actively engaged in his professional pursuits, demonstrating resilience and dedication to his craft.

Stephen M. Ross Family: Wife and Children

Ross’s personal life is characterized by familial bonds and enduring relationships. He is happily married to Kara Ross and is the proud father of four children. Ross’s commitment to family values underscores his holistic approach to life and business.

Stephen M. Ross Height and Weight

Physically, Stephen M. Ross stands at a height of 6 feet 2 inches (1.88m) and maintains a healthy body weight of around 72 kg. Despite his busy schedule, Ross prioritizes his health and well-being, engaging in activities such as volleyball and tennis.

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Also Read: Dave Ramsey Net Worth 2024: How Much is American Radio Personality Worth?

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