There is money in peoples’ hands. The trigger to move that from savings to investment and within investments — the physical to financial move — is a matter of time. Gold had taken a little bit of the cake. When the re-flow happens, real estate will also pick up, says Sunil Subramaniam, MD & CEO, Sundaram Mutual Fund. Excerpts from an interview with ETNOW. I am confident that the worst is behind us but I am not certain if the economic recovery has started. What are your thoughts?What I am certain about is that the government is serious about kick-starting the economy. So, there’s a certainty that government spending is going to happen over the next 12, 15, 18, 24 months and that is definitely going to play its part. Now the choice that the government has exercised in terms of kick-starting the economy is the supply side versus the demand side and that is a crucial point to note. The demand side is very generally immediately in effect. Suppose they give … [Read more...] about Govt spending to kickstart economic recovery; refoms hopefully will create jobs: Sunil Subramaniam
What economic problems did the new government faced
In a 2016 address to his Pakistan Tehreek-i-Insaf (PTI) supporters in Mingora, a small town in Khyber Pakhtunkhwa (KPK) province, cricketer-turned-politician Imran Khan said he would turn KPK into a "model province" by 2018. He made similar claims in the run-up to the 2013 general elections, in which his party failed to secure a majority countrywide but managed to form a government in the northwestern KPK province that borders Afghanistan. Khan, who as a cricketer had spent many years living in the UK, promised to introduce Western-style governance and a social welfare system to the province. One can ignore those lofty claims as election sloganeering. But Khan has incessantly lampooned the Pakistan Muslim League's federal and Punjab governments as "corrupt" and "incompetent" in the past five years. As the 2018 general election approaches (the dates haven't been announced yet), Khan has once again pledged to "rebuild" Pakistan, make it an economic power, end … [Read more...] about Pakistan’s Khyber Pakhtunkhwa — a difficult province to govern
By Shantanu Nandan Sharma It is 11 am on Thursday (December 12) and Guwahati is under curfew, imposed by the state government to curb the protest against the Citizenship Amendment Bill (CAB). A small group of protesters defy the curfew and attempt to gather at Guwahati’s Latasil playground — a venue for sporting events as well as Bihu celebrations. Police act quickly and push the crowd back. Soon, another group emerges from a bylane to join the first group. The protesters refuse to budge despite police’s appeal. The law-enforcers lathicharge. But a third group, fourth and a fifth group come from the bylanes to join the main group outside the ground. Police fire tear gas shells to disperse the crowd streaming in from the bylanes. Within half an hour, protesters’ numbers swell to around 8,000, forcing the security forces to step back. The crowd now manages to enter the Latasil ground. A helicopter and a drone are pressed into service to monitor the defiant … [Read more...] about What lies ahead for Assam which is steadfastly, and often violently, protesting the new citizenship act?
On a cold morning last March, Kenny Angel got a frantic knock on his door. Two workers from a utility company in northern Nebraska had come with a stark warning: Get out of your house. Just a little over a quarter-mile upstream, the 92-year-old Spencer Dam was straining to contain the swollen, ice-covered Niobrara River after an unusually intense snow and rainstorm. The workers had tried but failed to force open the dam’s frozen wooden spillway gates. So, fearing the worst, they fled in their truck, stopping to warn Angel before driving away without him. Minutes later, the dam came crashing down, unleashing a wave of water carrying ice chunks the size of cars. Angel’s home was wiped away; his body was never found. “He had about a 5-minute notice, with no prior warning the day before,” Scott Angel, one of Kenny’s brothers, said.State inspectors had given the dam a “fair” rating less than a year earlier. Until it failed, it looked little … [Read more...] about Thousands face risk because of aging U.S. dams, including some in Colorado, AP finds
Donald Tusk and other EU officials have rejected Boris Johnson's new plea to ditch the Irish backstop just hours after he wrote to the European Council president. The British Prime Minister last night told the EU that the backstop is 'simply unviable' and should be replaced with a new legal commitment to avoid the return of a hard border. But Mr Tusk said today anyone opposing the backstop without a 'realistic' plan was actually 'supporting the reestablishment of a border' because there was currently no alternative. He wrote on Twitter: 'The backstop is an insurance to avoid a hard border on the island of Ireland unless and until an alternative is found. 'Those against the backstop and not proposing realistic alternatives in fact support reestablishing a border. Even if they do not admit it.' The dismissal of Mr Johnson's plea was expected after briefings by diplomats in European capitals suggested his ideas would receive an icy reception in Brussels. … [Read more...] about Donald Tusk REJECTS Boris Johnson’s backstop demands: European Council president slams PM’s ‘unrealistic’ Brexit plan in new EU slapdown